USDT-USD peg breaks as Binance halts withdrawals, here are the impacts

Users of the USDT stablecoin felt the wrath of the exchange settlement to stop BTC withdrawals. Also, fingers were pointing at CZ.

Some comments from Parrot Capital’s revelation implied that Binance, led by Chanpeng Zhao , was not honest in their dealings. For others, this was a sign to take assets off exchanges.Meanwhile, the exchange resumed BTC withdrawals by modifying its fees. However, it did not directly respond to the allegations. But it cleared the air on its 162,000 BTC outflow as a simple “address adjustment” between its hot and cold wallets.

“Binance answer doesn’t make sense, as other exchanges didn’t need to stop withdrawals, nor does it explain the massive USDT depeg. Once again, CZ isn’t providing answers to the real questions as he continues to be on the run.”

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