Here at Endotech we remain committed to excellence and client security and safety of funds. Due to unprecedented fundamental news relating to potential market risk, please see a technical statement from us here below, regarding our automated action of risk avoidance and client protection measures.
UPDATE 19-01-2021 WE GOT BACK TO USDT, the information below is no longer valid.
On January 17th, the increase in volatility of TETHER(USDT) is expected due to the regulatory situation (https://coingeek.com/tether-printing-presses-in-overdrive-as-regulators-watch-closely/).
To preserve our customers’ funds Endotech developed the following guideline:
1) it does NOT concern clients with accounts at COINBASE, GEMINI, BITFINEX, KRAKEN (balance in USD), nor DAISY Crowdfunding Fund,
2) it concerns clients with any active wallet balances at Binance.com/Binance.us only.
OUR ACTIONS BEFORE 17-01-2021
- Binance Spot: we transfer funds to BUSD (Binance stablecoin)
- Binance.US: we transfer funds to USD
- Binance Futures: our clients can choose to transfer USDT to BUSD or another coin of choice, in this case you should use a Binance converter yourself
AFTER 17-01-2021 IF USDT BECOMES UNSTABLE
- Binance Spot: we trade with BUSD (Binance stablecoin)
- Binance.US: we trade with USD
- Binance Futures: we trade with USDT and provide a solution for clients who transferred funds in other coins
AFTER 17-01-2021 IF USDT IS NOT AFFECTED AND CONTINUES TO BE STABLE
- Binance Spot: we transfer BUSD back to USDT
- Binance.US: we transfer back USD back USDT
- Binance Futures: we trade with USDT and will recommend our clients to transfer funds back to USDT
Please note, you may opt to ignore this message completely and not carry out the changes outlined above. Such action or inaction is completely within client’s control and choice to make.