XMR withdrawals disabled on all major CEX including Binance and Kraken

This is a long way coming. The fractional reserve scheme that major CEX built around Monero and a couple of other coins is crumbling. It probably was not meant to be discovered so fast. But the decoupling of the price vs BTC network effect amidst full Monero darknet market adoption in the last bull run was an early indicator. https://moneroj.net/metcalfeusd/

Those that observed the space know that Poloniex and Binance were the first to start their fractional reserve program in 2019. Others like HTX, OKX, Coinex, KuCoin were either willingly joining the Cartel^TM or forced to join (Kraken?) through market competition.

• Poloniex has all withdrawals other then Tron/Tron network based coins halted for >1 month (including Monero) - the order book is basically dead and price decoupled. https://coinmarketcap.com/exchanges/poloniex/

• HTX has halted withdrawals for quite some time. Monero withdrawals are still closed. Order book is dead. Price decoupled.

• Binance, the CEX that is most famous for its withdrawals halts and probed in two Moneroruns now also has halted all withdrawals. After Binance has been closed for several weeks in 2022 citing funny reasons the Monero community started a downtime tracker for 2023: https://moneroj.net/withdrawals/

• But what really comes as a shock to the community is that Kraken, claiming to always operate on full reserves amidst all the drama has also stopped the processing of XMR withdrawals. https://status.kraken.com/

  • https://twitter.com/whiteferrofluid/status/1734412863471489123
  • https://np.reddit.com/r/KrakenSupport/comments/18g34nu/monero_withdrawal_still_pending_after_an_hour/

A big storm is brewing. If you are a Monero investor the likelihood is low that you still keep some coins on a CEX, because this was discussed for 2.5 years. If you still do - good luck!

The conditions are nearly perfect for the biggest short squeeze in crypto history. If you want to join the squeeze don't use CEX. Use P2P markets or DEX.

XMR withdrawal status

❌ HTX (Huobi) * ❌ Poloniex * ❌ Binance * ❌ LetSexChange * ❌ SideShift * ❌ EasyBit * ❌ WazirX

Edit: Kraken now operational again