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The Guardian - UK
The Guardian - UK
Technology
Dan Milmo and Alex Hern

Bitcoin withdrawals temporarily suspended in volatile day for crypto market

An ad featuring a Bitcoin logo in Hong Kong
An ad featuring a Bitcoin logo in Hong Kong. The cryptocurrency dropped to a 17-month low after the Celsius announcement. Photograph: Anthony Kwan/Getty Images

The cryptocurrency market has endured another day of volatility as the Binance exchange temporarily suspended bitcoin withdrawals and the total value of the digital asset market dipped below $1tn (£820bn), after a cryptocurrency lender stopped customers from taking back their funds.

The cryptocurrency lending platform Celsius Network halted withdrawals because of “extreme market conditions”, prompting a selloff.

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