Wyre Implements Withdrawal Limits, Appoints Executive Chairman and Interim CEO Amid Market Turbulence

1: wyre, an international fintech company, is implementing withdrawal limits for user accounts. stephen cheng has been appointed as interim ceo, while ioannis giannaros has assumed a new role as executive chairman. metamask has removed wyre from its mobile aggregator. the daily withdrawal limits include 5 bitcoin and 50 ethereum, as well as 20,000 in either usdc, dai, or wrapped ethereum (weth). the daily fiat limits on withdrawals include $150,000 and €140,000.

2: wyre was founded in 2013 and was close to being acquired by e-commerce startup bolt for $1.5 billion last year. the purported deal was scrapped last september, but bolt agreed to integrate wyre’s one-click solution into its customer platform. wyre is now exploring strategic options to navigate the current market environment and is scaling back to plan its next steps.

3: wyre is committed to its mission to simplify and revolutionize the global payments ecosystem. despite the current market environment, wyre is continuing operations and will share information with the community. wyre has also declined allegations made by two former employees. ultimately, wyre is taking the necessary steps to ensure its success in the future.


By Evey Lovelace

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