Dear Wyre Community —
We wanted to provide you with an update regarding the current state of our business.
We have not been immune to the challenges brought by the current macroeconomic climate and the recent events that have shaken the crypto industry. Acting in the best interest of our community is our top priority. We are exploring strategic options to navigate the market environment and deliver on our mission to simplify and revolutionize the global payments ecosystem in a safe and sound manner.
We are modifying our withdrawal policy. While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits. This will best position us to serve and maximize value for our customers and stakeholders.
We also wanted to share that we have made important changes to our management structure. Yanni Giannaros transitioned into a new role as Executive Chairman and will continue to provide valuable guidance and support to Wyre. Stephen Cheng has become our interim Chief Executive Officer. Stephen’s skillset as our Chief Risk and Compliance Officer makes him well-suited to lead our company.
We sincerely appreciate the support of and positive sentiments from the incredible Wyre community and the crypto ecosystem at large as we pursue options that will enable Wyre to continue to flourish. Our operations continue and we will share information with the community as it becomes available.
Sincerely,
The Wyre Team
