Crypto lender CoinLoan has announced a reduction of the account withdrawal limit, in lieu of the tight market conditions.
CoinLoan stated that the issues affecting the likes of Celsius, Voyager, BlockFi, and Three Arrows Capital have triggered a wave of withdrawals on its platform.
The company states that this measure will allow them “order to balance the flows of funds and prevent liquidity-related interruptions.”
Thus, users can now withdraw only up to $5,000 per 24-hour rolling period from July 4th.
CoinLoan makes it clear that this rule is only provisional and will be lifted as soon as the market conditions become better.
CoinLoan also mentions that the platform had no exposure to Luna, staked ETH, or any of the affected firms adding that its policies prohibit investments in “risky activities.”
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