Binance.US users would experience issues depositing and withdrawing US dollars (USD) on the platform because of the recent banking crisis bedeviling the crypto industry, according to the exchange’s status page.

According to the page, users cannot withdraw or deposit USD using Apple Pay, Google Pay, and Wire transfers. The exchange added that debit card deposits would also be unavailable for around 5% of its users.

The exchange explained that it was transitioning to new banking and payment service providers due to the recent developments in the US banking industry.

Per the status page, the exchange has temporarily suspended trading pairs involving the BUSD stablecoin.

Binance.US did not give a definite timeline for these services to resume. It only gave a vague timing of “several weeks” and added that it was “working to restore all services as soon as possible.”

Signature Bridge Bank ACH Deposits and Withdrawals “Temporarily Unavailable”

The status page further showed that ACH deposits and withdrawals from Signature Bridge Bank were unavailable for users. The FDIC created Signature Bridge bank after being appointed as the receiver of the failed Signature Bank in March.

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Author: Oluwapelumi Adejumo

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