LVL

@simp1istic 😘

@BankWithLVL Miss you guys, please come back.

@No_Shitcoins Thanks!

@BankWithLVL Probably should unpin this

LVL is becoming a #Bitcoin focused company. While the US dollar has provided many benefits, the negative qualities are becoming much more prominent. Read why LVL believes Bitcoin is the best replacement for fiat money. lvl.co/blog/why-bitco…

We recommend all users remove their funds as soon as possible. We are a full reserve institution capable of returning all user deposits, and we are standing by to assist users. Thank you for being a part of our journey. We hope to be back soon. /fin

While coordinating this transition, we signed a Series A investment offer and planned to use the funding to invest in these upgrades. The Series A investor never sent the money for the signed agreement, and we don't know whether we will have funds to continue to operate. /3

LVL is shutting down. We are asking all users to withdraw their cash and crypto by August 29th. Details below. /1 👇

@pleasantwatcher We are sorry for the inconvenience but are standing by to support you with withdrawing your funds during the current platform wind down.

@Wags_pleb @al_hodl New app. Name TBD.

@BankWithLVL @al_hodl Will you have same name and same app?

Anybody else get an email from LVL? What's going on @BankWithLVL ?

@SahilC0 Good PSA. We hold all customer assets in full reserve and are standing by to assist users with withdrawals.

PSA to anyone I've recommended @BankWithLVL to, now is prob not the time to join 👇 (fwiw, highly doubt it's a celcius situation) unfortunate that fiat-interoperable bitcoin tools are still so raw.

@BitcoinHobbes When you send from an app, it's an ACH credit and non-reversible, so banks will credit this right away under NACHA rules. When you request money to an app, it's an ACH debit and reversible, and this leads to the delay. There is an up to 3-day speedup we are working on.

@ProbablySo8 It wasn't your money. These funds were sent to your account by mistake. We froze your account after you attempted to withdrawal them. LVL reserves the right to suspend or report users for fraudulent activity.

@GonzoCatalyst 💯

@GonzoCatalyst To be 100% honest, we're still figuring out how to maximize transparency around our compliance standards, which are banking-grade. This allows us to offer features like insanely high limits and "Pay with bitcoin" soon, but there are a lot of rough edges we are learning!

@GonzoCatalyst Mike's our CCO, not a scam account. He's asking your permission to note the account for expedited processing of procedures that apply to ALL users, not trying to spy in any way. If that's not your preference, we won't note it. If we didn't respect user privacy, we wouldn't ask!

Service has been restored on LVL. The downtime took longer than expected due to unanticipated delays in applying the upgrade. Thanks for your patience with this unscheduled upgrade.

LVL will be temporarily unavailable at 1 PT / 4 ET for an unscheduled upgrade. We expect the downtime to last 20 minutes.

@GonzoCatalyst PS - We're almost back to restoring and will post an update on the original Tweet explaining the delay.

@GonzoCatalyst The outage is very rare for us. We don't usually have them, including that BTC dive where everyone when down (Coinbase, Gemini, Strike, you name it). The Beta is a different story. It's a Beta. Things break a lot as you'd expect.