Binance to Temporarily Suspend Deposits and Withdrawals on BNB Smart Chain Soon: Here’s Why

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Binance to Temporarily Suspend Deposits and Withdrawals on BNB Smart Chain Soon: Here’s Why
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Binance will temporarily halt BNB Smart Chain deposits and withdrawals due to maintenance, but trading will not be affected.

BNB’s price is down amid a market slump, with a potential rally expected following the release of former CEO Changpeng Zhao from prison.Binance will handle all technical requirements involved for all users,” the company assured.BNB Smart Chain operates alongside the BNB Beacon Chain . The specific architecture allows users to transfer assets between the two chains, providing additional opportunities for trading and decentralized applications .

One factor that may trigger a renewed rally for BNB is the end of Changpeng Zhao’s prison sentence. Earlier this year, the former CEO of Binance was ordered to spend four months behind bars after he pleaded guilty to violating certain anti-money laundering requirements. Zhao Top 14 Best Decentralized Finance Projects in 2024

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