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Not sure why no one has mentioned this, but Bitcoin doesn't work like that - it's not like Ethereum where transactions require an iterative nonce - you can spend inputs even if a transaction from the same address is stuck in the mempool. Some additional clarity would be nice...https://twitter.com/cz_binance/status/1536317704990208000 …
due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update.
Funds are SAFU.
There are cases where this can happen if an exchange spends the entire hot wallet balance (one output to the user, the change amount back to themselves) - FTX does this sometimes - but I don't think Binance does this, so it doesn't make sense - unless they changed something
By the way, I'm just pointing out a detail in his wording that I found interesting. I do not think Binance is insolvent - nor do I think they will ever be insolvent - FTR, I think @cz_binance is in general an intelligent, honourable man. Withdrawals will be fine, give it a bit.
May be not bitcoin, but their HSM modules could operate very differently with a lot of failsafe switches in place.
Well giving others alt bail out
even on multi-sign txs?
nah, excuses for stopping exchanges bleeding out
Just an excuse not to miss $$ in this stormy time #BTC
Cexs make money by borrowing your funds to the others, taking the liquidity equal to no money.
They need the balances to crash Celsius. Prob get it back after with interest (well, binance will)
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