News

See Cryptocurrency headlines »

Related Companies

Binance

Lead Channel

Cryptocurrency

Channels

Markets

Editorial | what does this mean?

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Binance resumes spot trading after glitch

Cryptocurrency exchange Binance says it is back up and running after it was forced to suspended all spot trading on its platform due to a bug.

In a tweet, the firm said that all trading was set to resume at 14:00 UTC after temporary system maintenance had been completed.

Temporary system maintenance is complete. All trading will resume at 2pm UTC.

You can now cancel orders, process deposits, trade on P2P, and more.

Withdrawals will be resumed shortly after spot trading starts. Full details in the link below.https://t.co/bmVG5uQa2F
— Binance (@binance) March 24, 2023

The issue lasted for more than two hours, sending cryptocurrency prices down. Binance processed nearly $15 billion in spot trading volume in the last 24 hours, according to CoinGecko.

Earlier, the firm's CEO Changpeng Zhao, tweeted: "Initial analysis indicates matching engine encountered a bug on a trailing stop order (a weird one). Recovering. Est 30-120 min ish. Deposits & withdrawals are paused as a SOP (standard operating procedure). Funds are #SAFU."