Liquid Keeps Bitcoin Redemptions Frozen as Reserves Cover 85.8%

Liquid has kept Bitcoin (BTC) redemptions frozen as its reserves cover 85.8% of the required backing, leaving an estimated shortfall of about 603 BTC. The freeze prevents peg-outs from restarting while the reserve gap remains. Liquid requires full backing before allowing the process to resume. Security reviews must also be completed before peg-outs return. The two conditions—complete reserve coverage and finished security reviews—remain outstanding. The reserve coverage figure highlights the scale of the gap between Liquid’s obligations and the Bitcoin available to support them. Simon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to info@tokenpost.com.

Also reported by The Defiant, The Cryptonomist.

Source: TokenPost