Falling prices in crypto markets like Bitcoin (BTC) and Ethereum (ETH) have caused a lot of waves. Several companies that ran out of cash went bankrupt. Recently, the cryptocurrency mining company Poolin encountered difficulties which led it to suspend withdrawals. Find out what she plans to do!
Crypto Miner Considers Leverage Options
According a tweet by Raphaël Bloch on September 5, “the Chinese giant Poolin has just suspended withdrawals on its platform because of “liquidity” problems“There will no longer be no longer possible to withdraw bitcoin (BTC) and ether (ETH) from the Poolin wallet. The leaders of this mining pool are currently discussing the debt options available to the company.
Poolin announced on Monday:As you may know, Poolin Wallet is currently facing some liquidity issues due to the recent increase in withdrawal requests. But rest assured that all user cryptos are safe and the company’s net worth is positive.»
The crypto mining company has indicated that it will communicate in two weeks information on the resumption of withdrawals. She recalled that regular mining and direct payment operations are maintained. Furthermore, she intends toa snapshot of the remaining balances of BTC and ETH on the pool on September 6 to work out the balances“.
Poolin, one of the world’s leading crypto mining companies, has suspended withdrawals due to lack of liquidity. But the company intends to continue to pay miners normally for operations carried out after September 6. It will later publish a payment schedule for remaining balances for coins mined before that date.
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