Zhao Changpeng: USDC withdrawals are expected to resume in a few hours, while BUSD and USDT can be withdrawn at any time

ChainCatcher news, Binance founder Zhao Changpeng tweeted that the withdrawal volume of USDC on Binance has increased. The channel for converting PAX/BUSD to USDC needs to go through banks in New York priced in USD, and it is expected that the situation will return to normal when the banks open in a few hours.

In addition, these stablecoins are converted at a 1:1 ratio, without involving margin or leverage. In the future, Binance will also try to establish smoother exchange channels. Meanwhile, users can withdraw any other stablecoins at any time, such as BUSD, USDT, etc. (source link)