High ETH Gas Could Cause Binance to Increase Ethereum Withdrawal Fees

[Shahinaz]

- Ethereum gas fees are at a record high
- This has resulted in many exchanges going at a loss with each withdrawal of ETH
- CZ has estimated exchanges are losing $10 – $20 with each Ethereum withdrawal
- He has hinted of a possible increment in Ethereum withdrawal fees on Binance if the issue persists

Binance CEO, Changpeng Zhao, has explained on Twitter that the high ETH gas cost on the Ethereum network is hurting crypto exchanges with every withdrawal by users. CZ explained that most exchanges are experiencing $10 – $20 loss per withdrawal due to the platform’s fixed ETH withdrawal fees that do adjust with the activity on the Ethereum network. CZ further hinted that Ethereum withdrawal fees would have to be adjusted sooner or later.

more: https://en.ethereumworldnews.com/high-eth-gas-could-cause-binance-to-increase-ethereum-withdrawal-fees/