Wyre, a Cryptocurrency Payment Platform Implements Withdrawal Limits
- Wyre, a crypto payments company, declared on January 8 that it was revising its withdrawal policy. Withdrawals are now limited to no more than 90% of the money in client accounts.
- There are extra withdrawal restrictions of 5 BTC and 50 ETH each day and limits on fiat withdrawals.
- The action indicates rising anxiety about bankruptcy and a possible liquidity constraint if nervous clients demand their money back quickly.
- Wyre has also split from MetaMask, a renowned cryptocurrency wallet service. On January 6, MetaMask said the platform was dropped from its mobile aggregator.