Binance.US to Suspend USD Deposits as Banking Partner Plans to Halt USD Withdrawal Channels on June 13

According to TuoniaoX.com on June 9, Binance.US announced it will suspend USD deposits, with its banking partner preparing to halt fiat USD withdrawal channels on June 13, 2023. Binance.US stated it is taking proactive measures to transition to a crypto-only exchange for a period of time. The platform will maintain 1:1 reserves for all customer assets. Any downtime during withdrawal processing may result from increased withdrawal volumes and weekend bank closures.