Juno Advises Users to Self-Custody or Sell Crypto Assets Amid Uncertainty

• Juno, a crypto firm, advised its customers to self-custody or sell their crypto assets due to uncertainty with its crypto partner.
• The firm does not take personal custody of its users‘ assets but relies on its crypto partner, which is speculated to be Wyre.
• Juno has disabled its crypto-buying feature and has automatically converted stablecoins in its users‘ wallets to USD.

Juno, a cryptocurrency firm, has recently advised its customers to self-custody or sell their crypto assets due to uncertainty with its crypto partner. The firm made this announcement via a Twitter thread on January 4th. It is believed that the crypto partner in question is Wyre, due to recent reports stating that the CEO of Wyre, Ioannis Giannaros, had informed employees that the crypto payments firm would be shutting its operations.

Juno does not take personal custody of its users‘ assets, thus the firm has disabled its crypto-buying feature and has automatically converted stablecoins in its users‘ wallets to USD. These funds can now be found in their FDIC-insured accounts and Juno has also said that it would reimburse any fees due to such conversion.

Due to the uncertainly surrounding the crypto partner, Juno strongly recommends that its users withdraw their crypto assets to a self-custody wallet or sell their crypto for cash in their Juno checking account. They noted that they had increased their crypto withdrawal limits for metal users in order to facilitate this.

Juno has also advised its customers to closely monitor their accounts and to check out their FAQs for any further updates or recommendations. They will also provide more details in the coming days as more information emerges.

It remains to be seen how this situation will play out, however it is clear that Juno is taking all the necessary steps to ensure its customers‘ assets remain safe and secure.