Binance, the world's largest cryptocurrency exchange by daily trading volume, has briefly halted bitcoin (BTC-USD) withdrawals, CEO Changpeng Zhao wrote in a Twitter post Monday. "Temporary pause of $BTC withdrawals on #Binance due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update," CZ noted. The halt comes as cryptocurrencies face intense selling pressure in the face of surging consumer price inflation and an increasingly hawkish Fed. Major cryptos: bitcoin (BTC-USD -12.1%) is cratering to $24.1K in early morning trading, ethereum (ETH-USD -15.2%) is nosediving to $1.24K and binance coin (BNB-USD -12.9%) is dipping to $224. Earlier, crypto lending platform Celsius paused withdrawals.
