Poolin Mining Pool Freezes BTC and ETH Withdrawals, Cites Liquidity Issues
Is this the beginning of the end for Poolin? Or is the mining pool just powering through some minor problems? The Beijing-based company recently announced, “Poolin Wallet is currently facing some liquidity problems due to recent increasing demands on withdrawals.” All hell broke loose after that and Poolin lost between 30 and 40% of its […]
Related News
According to a report published by Europol, crypto is one of the main tools used by individuals linked to terrorism financing. PayPal, MoneyGram, Western Union, and traditional banks also made the list, contrary to what some government officials have said about digital assets. Related Reading: Poolin Mining Pool Freezes BTC and ETH Withdrawals, Cites Liquidity […]
“We will make a snapshot of the remaining BTC and ETH balances on pool on September 6th to work out the balances," said Poolin. Poolin, one of the largest Bitcoin mining pools by hash rate, has announced it has temporarily suspended Bitcoin and Ether withdrawals from its wallet service due to “liquidity problems.”In a Monday announcement, Poolin said its wallet service was “facing some liquidity problems due to recent increasing demands on withdrawals” and planned to temporarily stop payouts of Bitcoin (BTC) and Ether (ETH). In its Telegram channel, Poolin support told users it was “hard....
"Our priority, for the time being, is to resume withdrawals of as many coins/tokens as possible," said Poolin. Poolin, one of the largest Bitcoin mining pools by hash rate, has announced it will be issuing IOU tokens in an effort to “minimize the impact of withdrawal suspension” for users. In a Tuesday blog post, Poolin said its wallet service will be releasing IOU ERC-20 tokens for users unable to withdraw their Bitcoin (BTC), Ether (ETH), Tether (USDT), Litecoin (LTC), Zcash (ZEC) and Dogecoin (DOGE) holdings. On Sept. 15, the mining pool will issue IOUBTC, IOUETH, IOUUSDT, IOULTC,....
Bitcoin mining pool Poolin suspended withdrawals and is suffering for it as nearly 50% of its hash rate looks to have left.
Major bitcoin mining pool Poolin has launched an initiative promoting Taproot, which will ultimately require miner support. The post Poolin Launches Initiative To Activate Taproot, Encouraging Other Mining Pools To Join appeared first on Bitcoin Magazine.