Crypto firm Juno has urged its users to withdraw their cryptocurrencies from the platform due to “uncertainty” with its crypto custodian partner Wyre.
Juno tweeted that they have temporarily disabled crypto buys on the platform.
In the tweet thread, Juno further detailed that they have increased daily crypto withdrawal limits by 5x for all metal users.
Juno informed that the amount of crypto assets held on the platform has fallen to $1.25 million and they are reaching out to customers to self-custody.
The news comes after Wyre began layoffs, with two former employees telling Axios it plans to shut down this month.
Wyre CEO Ioannis Giannaros wrote an email to employees and the email was partly seen by Axios “we will need to unwind the business over the next couple of weeks”.
Giannaros told Axios via email that “We’re still operating but will be scaling back to plan our next steps”. However, he did not comment further about the company's shutdown.