Wyre Announces Withdrawal Limits as Crypto Firm Navigates Crypto Winter

[ph1l]

https://finance.yahoo.com/news/wyre-announces-withdrawal-limits-crypto-121833727.html

Wyre, a San Francisco-based crypto payments firm, is implementing withdrawal limits for user accounts, citing “the best interest of our community.”

“We are modifying our withdrawal policy. While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits,” Wyre said in a Twitter post.

I think they forgot to add "Because if you could withdraw all your funds, we wouldn't be able to keep them."

https://twitter.com/x/status/1611774171050299392

 

[ktm]

prolly nuthin

 

[The_Krakenite]

That's nothing. A lot of fiat banks limit your withdrawals to pitiful amounts per day. AND it's well known they use fractional reserves

90% is huge and would scare the shit out of them.

 

[M.W.]

That's not true. As long as you give prior notice you can withdraw, if wanted, millions in cash and empty your account as it pleases you. The prior notice is for cash management and treasury purposes. Many local banks in smaller communities don't hold that much cash in their treasury on a daily basis.

That's nothing. A lot of fiat banks limit your withdrawals to pitiful amounts per day. AND it's well known they use fractional reserves

90% is huge and would scare the shit out of them.

 

[DaveV]

That's nothing. A lot of fiat banks limit your withdrawals to pitiful amounts per day. AND it's well known they use fractional reserves.

That's not my understanding. All banks limit the amount of cash you can withdraw on any given day, simply because they don't not keep a massive amount of cash on hand. But you are free to withdraw any amount on any day via cashier's check, bank wire or ACH.

 

[johnarb]

That's not true. As long as you give prior notice you can withdraw

That's fucked up cuck-defeatist mentality to accept that, dude

If you have $1 Million in btc, you can withdraw anytime, send it overseas, no need to give any reason to anyone or ask permission or give notice, and you can do this 24/7/365

Oh, and the cost is 5 cents right now for the highest priority the $1 Million will get to the destination in about 10 minutes, fuck wire transfers for high fees and long delays for international transfers

 

[M.W.]

I can send my million also today or get a bank draft right away, no questions asked. If you don't understand the issue with cash then you simply lack the intellect. It was already explained to you twice.

That's fucked up cuck-defeatist mentality to accept that, dude

If you have $1 Million in btc, you can withdraw anytime, send it overseas, no need to give any reason to anyone or ask permission or give notice, and you can do this 24/7/365

Oh, and the cost is 5 cents right now for the highest priority the $1 Million will get to the destination in about 10 minutes, fuck wire transfers for high fees and long delays for international transfers

View attachment 303257

 

[johnarb]

I can send my million also today or get a bank draft right away, no questions asked. If you don't understand the issue with cash then you simply lack the intellect. It was already explained to you twice.

You're too fucking dumb or a liar if you do not tell us how much it would cost sending $1M from Canada to Hong Kong and which asses you have to kiss and what paperwork you have to provide and how long it would take before it settles at the destination

and all of these you have to do during "business hours" you're a fucking joke, dude

 

[M.W.]

I did not lie at all, I never made a claim about the time it takes to make a fiat transfer. I called out a false statement that fiat currency of ANY amount cannot be immediately taken out of a bank account.

Look at your childish post, you are basically staking your life reputation and life savings on a first-world problem that has already been solved, as if people can't make a transfer during business hours or can't wait a day or two for the transfer to have gone through. That is the benefit cryptos have to offer? And in exchange I need to risk have ALL of my cryptos hacked and stolen without the slightest regulatory oversight? Sorry brother, but no thank you, I take that extra day to transfer funds and go to the bank during business hours, lol.

Go back into your cave, at least back there you were honest when you stated that cryptos are speculative instrument for gamblers and preppers.

You're too fucking dumb or a liar if you do not tell us how much it would cost sending $1M from Canada to Hong Kong and which asses you have to kiss and what paperwork you have to provide and how long it would take before it settles at the destination

and all of these you have to do during "business hours" you're a fucking joke, dude

 

[maxinger]

Prolly nothing.

In fact, it is a trivial news;
BTC hardly moved.