There has been a remarkable development regarding Binance, the world’s largest cryptocurrency exchange. In the official statement, Solana (SOL), one of the most popular cryptocurrencies of recent times, announced that it has suspended deposits in USDC and USDT parities.
Binance did not provide any explanation as to why such a thing happened with Solana transactions. However, the collapse of FTX, one of the largest cryptocurrency exchanges in the world, may have something to do with the suspension of transactions in Solana.
Solana lost more than $1 million held in FTX
*Solana daily price chart.
The Solana Foundation made a statement recently and stated that it has $1 million in cash left in FTX. The company also held a large amount of stocks of FTT and FTX. Solana stated that the outgoing asset in FTX was about 1 percent of their total money.
The fact that Binance has not made a statement on the subject is confusing. Because SOL prices were already volatile due to FTX. Moreover, the developer team was still working on the project. It is not known why Binance made such a decision. If there is a new development on the subject, we will inform you.
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