RUNE Plunges 31% After THORChain Node Operators Pause BTC And ETH Withdrawals Amid Insolvency Fears
The THORChain (RUNE) price plunged more than 31% in the last 24 hours after the interblockchain settlements protocol paused Bitcoin and Ethereum withdrawals on its lending and savers programs to prevent a potential insolvency risk. Node operators on the THORChain network proposed and implemented a pause for 90 days in the early Asian hours today. This was done to give the protocol’s team some time to come up with a plan to resolve debts, according to messages from THORChain’s Telegram channels. Crypto Banter’s Ran Neuner Tries To Reassure RUNE Community Crypto Banter founder and CNBC crypto trader Ran Neuner shared his take on the situation and tried to reassure his over 905.9K followers in a Jan. 24 X post by saying that the THORChain protocol is still “working perfectly” and that RUNE will not go insolvent. $RUNE Update: I see a lot of people on my timeline that are under the impression that the protocol has failed and is insolvent. This ...