Binance Halts Spot Trading Following Tech Issue, Could Be Down For Hours

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.

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.

Information for this briefing was found via Twitter, TechCrunch and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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