Crypto mining pool Poolin has announced that it will suspend Bitcoin and Ethereum withdrawals due to liquidity issues.
Poolin was also involved in the liquidity shortage experienced by crypto firms. The company has long been known to have liquidity problems.
Poolin Suspends Withdrawals
Earlier in the day, Poolin admitted that they were experiencing liquidity problems and stated that they would take measures for this.
The company made the following statement today:
Poolin also stated that a snapshot of the Bitcoin and ETH assets remaining in the pool will be taken.
The Beijing-based company has joined crypto firms that have suspended withdrawals. Crypto lending firms such as Voyager Digital and Vauld also announced in July that they were stopping withdrawals.