Wyre said each client can only withdraw 90 percent of their account funds.
Last week, Wyre laid off 75 of its employees after reports that the firm was planning to shut down. In an update, Wyre said that its activities will continue and stated that its activities will continue.
Wyre Clients Can Withdraw Up To 90 Percent Of Their Funds
Crypto payment provider Wyre has announced a change to limit customers from withdrawing more than 90 percent of funds currently held in the account.
The company stated in its statement:
“We are changing our withdrawal policy. While clients will continue to withdraw their funds, we currently limit withdrawals to more than 90 percent of the funds available in each client account, subject to current daily limits.”
Stating that the new withdrawal limit will enable it to move forward in the current market environment, Wyre also added that by reducing the amount customers can withdraw; He said the firm would be in a better position to weather the potential financial storms ahead.
Wyre added that CEO Ioannis Gianna has moved into a new role as part of a major change in the firm’s management structure. The firm has appointed Chief Risk and Compliance Officer Stephen Cheng as interim CEO.
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