Binance has suspended spot trading this morning across its platform as it works to resolve an unspecified issue.
Founder CZ has indicated that the issue may be related to a bug on trailing stop orders, which the team is currently working towards resolving. Recovery from the issue is expected to take anywhere from 30 minutes to two hours, with a more precise ETA slated to come.
In what the company calls a “standard operating procedure,” Binance has also temporarily halted all deposits and withdrawals on the exchange.
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Binance is currently the largest crypto exchange globally, conducting over 60% of all spot volume in the crypto markets. The firm also accounts for over 90% of spot volume in bitcoin, as per Arcane Research.
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