Cryptocurrency exchange Binance temporarily paused Bitcoin withdrawals on its platform on Sunday, preventing the largest token by market cap from leaving the leading venue by trading volume.

Binance said its decision was based on congestion issues impacting Bitcoin’s network, adding that the exchange was “currently working on a fix” to reopen withdrawals “as soon as possible.”

During the outage, speculation about the cause was rampant on Crypto Twitter. One large Twitter Spaces conversation ran the gamut from Ordinal-focused technical theories to international political conspiracies.

Binance reported an hour later that Bitcoin withdrawals had resumed.

Bitcoin was slightly in the green as of this writing, up less than 1% to around $29,000, according to
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Author: André Beganski

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