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I've seen a bank branch being temporarily out of cash and hence pausing withdrawals in a relatively functioning economy before. Happens. ATMs at my bank in Ger
by ls15 4y ago
I've seen a bank branch being temporarily out of cash and hence pausing withdrawals in a relatively functioning economy before. Happens.
ATMs at my bank in Germany were down because of a strike.
- hef19898 4y agoBut we still could transfer money out to other accounts at other banks, couldn't we? And that is what those crypto exchanges are blocking.
- ls15 4y agoCrypto exchanges need sophisticated hot/cold wallet management for security. Hot storage is their equivalent to cash on hand. Hot storage can be quickly depleted. If a crypto exchange just disables withdrawals of one asset, users technically still can sell it for BTC, ETH or another stablecoin and withdraw that. Sometimes my banking website is down for maintenance.