Wyre announces amendment to the payment guideline and urges tops to temporarily suspend transactions on the NFT marketplace-

According to reports that the crypto payment company Wyre hired the company, CEO IOANNIS Giannaros offered a contradictory story and explained that the company was only "reduced". Wyre has now announced that it "changes" its payout policy and names the downturn of the crypto industry and the "macroeconomic climate" as factors that have influenced the company. On Friday, Wyre explained that you now "explore strategic options".

turbulence in the crypto industry: Wyre changes withdrawal guideline, tops exposes NFT marketplace transactions

Three days ago, on January 4th, Bitcoin.com News reported that the crypto payment company Wyre hired its business. The messages followed error des bolt acquisition worth 1.5 billion US dollars and the departure of co-founder Michael Dunworth, which resigns from its function in the company. On January 6, Wyre released an update for the community, which was about speculation about the company.

"We were not immune to the challenges of the current macroeconomic climate and the recent events that shaken the crypto industry," said Wyre explains on Friday. In addition, the company has changed its management structure, with Ioannis Giannaro's Executive Chairman and Stephen Cheng Interims CEO. In his update, Wyre also announced changes to the payments and explained that users are now limited in the amount of the withdrawals.

"We change our payout guideline. While customers will continue to be able to withdraw their funds, we at this point we limit the withdrawals to no more than 90 % of the funds that are currently in every customer account, subject to the current day limits," says Wyres update details and states that this is the best possible way maximize. "

The Wyre retreat problem has affected other parts of the crypto industry, since the collector and confectionery company Topps informed customers by email about the incident and its effects on its marketplace for non-fungible tokens (NFT). "You may have seen reports that Wyre, a provider of kingdom services for our secondary marketplace, may be driving down the company," said Topps' email details. "We evaluated the situation and Wyre has published an official explanation today." Topps added:

Against this background, we temporarily expose transactions in the shop and on the marketplace with immediate effect. Be assured that your collection is still safe and protected.

In the second half of 2022, crypto blowouts and failures led to infection that spread to almost every corner of the ecosystem. Last year, several crypto companies regarded as reliable were insolvent. Also in 2023 the bad news does not seem to be able to escape.

What do you think that Wyre changes his payout limits? Let us know your thoughts on this topic in the comment area below.

Jamie Redman

Jamie Redman is the news manager at Bitcoin.com News and a Journalist for Financial Technology living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com news about the disruptive protocols that arise today.

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