The Juno crypto company gives an advice in order to protect crypto assets of its users. According to the reports, this situation is caused by the uncertainty with Juno’s partner.
The Advice for Users
In a message shared on Twitter, the Junо crypto company advised its users to self-custody or sell their crypto assets in their wallets due to the uncertainty with the partner. Since the crypto company is not responsible for the assets of its users and does not trust its crypto partner, they made such advice, and although the identity of this partner is not disclosed, many in the community think that this partner is Wyre.
At the beginning of the week, Ioannis Giannaros, CEO of Wyre company, announced to his employees that the crypto pay company’s activity will be stopped. According to other information, Giannaros reported that his company could continue to operate, but had to scale down its activities. In addition, Juno announced in a statement that it has subtracted the ability to buy cryptocurrencies and automatically converts all stablecoins in its users’ wallets to USD. USD can be found in FDIC insured accounts and the company will reimburse any fees incurred during such conversion.
Juno advised: “We recommend that you withdraw your crypto assets to your wallet or sell your crypto through our partner bank for cash in your Juno account with up to $250,000 FDIC Insured.”
According to Juno’s statements, crypto assets on the platform fell below $ 1.25 million after this announcement. Juno stated that it has increased the crypto withdrawal limits for metal users to ease the process of withdrawing crypto assets, so that they can easily withdraw their assets
Source
https://cryptoslate.com
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