THORChainUpdate

The THORChain (RUNE) Network Upgrade Will Be Supported by Binance.
As a result, starting at 21:00 on June 17, 2025, token deposits and withdrawals on the RUNE network will be temporarily halted. It is anticipated that the network upgrade will be carried out at block number 21,574,000 at approximately 22:00 on the same day.
According to Binance's statement, the platform will completely meet the technical standards and token trading on the network in question will not be impacted.
Deposits and withdrawals for the appropriate tokens will be reactivated following the completion of the network update and the confirmation of stable operation.
Nevertheless, it was mentioned that there will be no further announcements regarding this procedure.
#RunesProtocol
#RUNE/USDT
#THORChainUpdate

$THORChain Pauses $BTC and $ETH Withdrawals Amidst Insolvency Concerns
THORChain has temporarily suspended Bitcoin ($BTC ) and Ethereum ($ETH ) withdrawals from its lending and savings programs, citing growing insolvency risks. According to a report by CoinDesk, this 90-day pause, initiated by the platform’s node operators, took effect during early Asian trading hours on Friday. The suspension aims to provide THORChain with a window to address outstanding liabilities and craft a sustainable strategy to ensure financial stability, as detailed in official communications shared via its Telegram channels.
Addressing Financial Challenges
Currently, THORChain’s lending services support $BTC and $ETH , while its saver vaults offer a more diverse range of assets. The insolvency risk arises from a hypothetical scenario where all loans and savings positions are closed simultaneously, coupled with a sharp decline in the value of its native token, $RUNE. To fulfill its lending obligations, THORChain mints $RUNE and exchanges it within liquidity pools. However, concerns over this mechanism led the platform to halt new deposits into its lending program more than a year ago.
Community members have voiced significant concerns, estimating the platform’s liabilities at nearly $200 million, with approximately $107 million held in liquidity pools. These funds remain vulnerable to withdrawal or liquidation by liquidity providers (LPs) or $RUNE holders, especially during periods of market uncertainty or panic.
Core Operations Remain Unaffected
Despite the challenges, THORChain’s primary functionality—enabling cross-chain swaps—remains fully operational. Users can continue to interact with liquidity pools and execute swaps without any disruptions. This highlights the platform's commitment to maintaining its core services while addressing broader financial risks.
A Strategic Move for Stability
This temporary measure underscores THORChain’s proactive approach to stabilizing its ecosystem amid heightened risks. By suspending withdrawals, the platform aims to protect its financial health, safeguard user assets, and ensure the long-term viability of its operations.
While the pause reflects a challenging period for the project, THORChain’s dedication to resolving these issues and preserving its core functionality signals its determination to navigate these hurdles and rebuild user trust.
#THORChainUpdate #CryptoNews #RUNEUSDT