Wyre implements 90% cap on cryptocurrency withdrawal amounts

On January 7, Wyre, a cryptocurrency payment platform, announced that it would be imposing a 90% withdrawal cap on customer accounts.

This decision was made in response to the prolonged bear market and in the “best interest of [Wyre’s] community.”

The company also announced that Yanni Giannaros, Wyre’s CRO and COO, would be serving as interim CEO.

In addition, Wyre’s partnership with the cryptocurrency wallet MetaMask has ended, with MetaMask asking its users to refrain from using Wyre on its mobile aggregator while it disables the extension.

These developments come amid rumors that Wyre may be closing down.