![]() ![]() While the move is rooted in the platform's commitment to user safety and risk mitigation, it also underscores the ongoing challenges and uncertainties surrounding the Multichain protocol.Īs the situation unfolds, it further highlights the volatility and unpredictability inherent in the rapidly evolving cryptocurrency market. Binance, one of the world's biggest cryptocurrency firms, will take a 200m (147.6m) stake in Forbes in the latest twist for the 105-year-old media brand. The suspension of certain Multichain-bridged token transactions by Binance marks a significant development in the crypto world. Reports of the protocol’s co-founder and CEO, Zhao Jun, disappearing and potential police investigations have also surfaced.īitDegree data indicates that the current market price of Multichain (MULTI) is $3.16, marking a decline of 5.31%. The Multichain landscape has been somewhat chaotic recently, with some bridges reportedly being inaccessible. From 0:00 AM (UTC) on the day after Locked. ![]() However, in the announcement, Binance noted: Users will still be able to deposit or withdraw the above tokens via other networks supported by Binance. According to Binance: Locked Staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In its blog post, the company highlighted that the pause on deposit and withdrawal services is a risk management strategy to secure users' funds. Key Points Binance, the world’s biggest cryptocurrency exchange, is making a 200 million strategic investment in Forbes, the 104-year-old magazine and digital publisher, CNBC has learned. It is worth noting that a few weeks ago, Binance suspended deposits involving a variety of Multichain-bridged tokens. About BNB Chain is a decentralized blockchain network that enables developers to create and deploy decentralized applications (DApps) as part of the transition to Web3. Therefore, the halt will impact customers that conduct transactions with bridged tokens on networks like BNB Smart Chain, Fantom, Ethereum, and Avalanche. ![]()
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