Temporary rollback of withdrawal limits

AnnouncementNov 12, 2022
Temporary rollback of withdrawal limits

The repercussions of FTX's collapse are being felt across the market, feeding understandable concerns. CoinLoan is well-equipped to withstand this demanding period. We have seen black swans before, and our risk control strategy has never failed us.

CoinLoan has no material exposure to the FTX exchange, Alameda Research, or the FTT token. However, we must adapt to the market pressure, which has caused a spike in withdrawals from all CeFi/CEXs, including our platform, due to growing panic. This change affects our yield generation model.  

For this reason, CoinLoan is temporarily reducing its daily withdrawal limit to $5,000 (or equivalent in other fiat currencies). We will restore it as soon as possible, as we have done before, depending on the pace of market stabilization.

This crisis tests the resilience of all businesses, demanding agile risk management and quick adjustments to ensure the stability of the crypto ecosystem overall. Those who have been with CoinLoan for quite some time know that we have successfully overcome market shocks in the past, protecting our users' assets to the highest standards.

Disclaimer:

The information provided by CoinLoan (“we,” “us,” or “our”) in this text is for general informational purposes only. All investment and financial opinions expressed by CoinLoan in this text are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith. However, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information in this text.

Like the article? Spread the word!
We use cookies to provide the best services. Cookies are subject to our Privacy Policy.