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Wyre Imposes 90% Withdrawal Limit on Customers

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Wyre announced that customers wouldn't be allowed to withdraw more than 90% of their funds.

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This is based on the current daily withdrawal limit.

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It stated that customers would be able to withdraw funds at any time.

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"We are restricting withdrawals to no greater than 90% of funds currently in customer accounts, subject to daily limitations."

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Any withdrawal request exceeding this limit will be rejected.

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The company also announced changes in its management structure.

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Stephen Cheng, a former Chief Risk and Compliance Officer, was named interim CEO.

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In the meantime, Ioannis Gianna, who was previously CEO, will assume the role of executive chair.

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