From an older post here in CryptoCurrency:
AMA Binance Product team here - ask us anything!
- Do you run fractional reserve on Monero? (yes/no)
- Why Monero's withdrawal is blocked so often?
- Do you run fractional reserve at all for any other coin? (yes/no)
- What amount of real coins are needed to keep the fractional reserve scheme up and smoothly running?
- How do you balance inflow and outflows of coins via deposits and withdrawals other than closing withdrawals for various spurious reasons? ("network congestion", "empty hot wallet", "wallet maintenance")
- Where (if at all) do you source liquidity in case of excessive withdrawal requests?
- Do you use Monero's fractional reserve system?
- ...
Binance did not respond.
- What was the point of this AMA? you barely answered any questions.
- AMA except anything regarding Monero.
- ...
Finally, the reality set in. After the announcement of XMR delisting (February 6th 2024), XMR withdrawals were immediately closed and have only been opened sporadically for small amounts since then (official end is May 20th).
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments