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Crypto.com suspends input and output of USDC and USDT in Solana

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Cryptocurrency Company Crypto.com She announced that she was suspending the input and output of USDC and USDT in the Solana blockchain. The corresponding letter was shared by the research director of The Block on Twitter.

"Please note that after recent events in the industry, we have suspended the deposit and withdrawal of funds in USDC and USDT in the Solana blockchain in the application and on the exchange Crypto.com . The decision takes effect immediately," the company's letter says.

However, users can withdraw USDC and USDT at any time using other supported networks, including Cronos and Ethereum. Crypto.com indicates that from today, November 9, the commission for depositing funds to USDC and USDT in the Solana network in the application and on the exchange Crypto.com it will be canceled for two weeks.

Over the past 24 hours, the price of the SOL token has decreased by more than 46%, from $27.1 to $16.6. Relative to the historical highs recorded almost exactly a year ago, on November 6, 2021 at $293, SOL has fallen in price by 93%. Against the background of a large-scale collapse of quotations, Solana whales prepared to liquidate their positions.

The Solana project was on the verge of collapse amid recent problems with the FTX crypto exchange.

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