Crypto giant. Binance announced that it had completed maintenance and reopened deposits, withdrawals, and spot trading.
Binance, the world’s largest cryptocurrency exchange, has temporarily halted all spot trading, deposits, and withdrawals due to an “issue” that it is attempting to resolve.
“Initial analysis indicates matching engine encountered a bug on a trailing stop order (a weird one),” Binance founder and CEO Changpeng Zhao said in a tweet, adding that the company expects things to be back up and running within two hours.
Binance controls more than 60% of all crypto spot volume. According to Arcane Research, it has also increased its Bitcoin spot volume market share to more than 90% in recent quarters due to zero commissions.
On the news, Bitcoin fell 1% to $27,649 and Ethereum fell 2% to $1,751 before recovering.