Understanding the Juno Situation
In a surprising turn of events, Juno, a fiat-to-crypto on-ramp solution provider, is in a bit of a pickle. They recently urged users to either sell or self-custody their cryptocurrencies. Why, you ask? Well, it boils down to some uncertainty with their crypto custodian partner, Wyre. Juno isn’t actually holding onto its customers’ crypto assets. Instead, it relies on this crypto partner to manage them. So, when the partner gets shaky, you know things might get wonky.
The Twitter Announcement
On January 4, Juno took to Twitter, and let’s just say the tweet was not your typical “all is well” spiel. They posted, “Due to uncertainty with our crypto partner, we have taken preemptive action in the interest of our customers.” To ensure safety, they are actively encouraging users to take control of their crypto—essentially, keep it in their own digital
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