{"id":621018,"date":"2025-01-24T09:06:13","date_gmt":"2025-01-24T09:06:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=621018"},"modified":"2025-01-24T09:06:13","modified_gmt":"2025-01-24T09:06:13","slug":"rune-plunges-31-after-thorchain-node-operators-pause-btc-and-eth-withdrawals-amid-insolvency-fears","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/rune-plunges-31-after-thorchain-node-operators-pause-btc-and-eth-withdrawals-amid-insolvency-fears","title":{"rendered":"RUNE Plunges 31% After THORChain Node Operators Pause BTC And ETH Withdrawals Amid Insolvency Fears"},"content":{"rendered":"

The THORChain (RUNE) price <\/span>plunged<\/span><\/a> 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.<\/span><\/p>\n

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 <\/span>messages<\/span><\/a> from THORChain’s Telegram channels.<\/span><\/p>\n

\"THORChain\"<\/p>\n

Crypto Banter’s Ran Neuner Tries To Reassure RUNE Community<\/span><\/h1>\n

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 <\/span>THORChain<\/span><\/a> protocol is still “working perfectly” and that RUNE will not go insolvent. <\/span><\/p>\n

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$RUNE<\/a> Update:<\/p>\n

I see a lot of people on my timeline that are under the impression that the protocol has failed and is insolvent. <\/p>\n

This is incorrect.<\/p>\n

The protocol is a decentralized cross chain protocol is working perfectly. It generates huge fees and cannot go insolvent.<\/p>\n

One…<\/p>\n

— Ran Neuner (@cryptomanran) January 24, 2025<\/a><\/p><\/blockquote>\n