Cryptocurrency bank Juno advises clients to self-custody or sell digital assets due to uncertainty with custodian Wyre

ChainCatcher news, according to CoinDesk, crypto bank Juno has advised its customers to either self-custody their digital assets or sell them for cash, as Juno is currently working to transfer customer funds to a new custodian. Juno's CEO and co-founder Varun Deshpande explained that the decision was made as Juno's current custodian partner Wyre is preparing to wind down its operations in the coming weeks.

Deshpande stated, "We are changing custodians because we expect Wyre may have issues as they might scale down." It is reported that the Juno team has already begun working with a new custodian, and the transfer of customer funds from Wyre to the new custodian is expected to be completed in the coming weeks.

ChainCatcher reported yesterday that crypto payment provider Wyre is allegedly shutting down, as Wyre informed employees during layoffs that the company would be liquidating and plans to terminate services by the end of this month. (source link)