Crypto Opinions & News Binance trading suspended: Why is Binance not working?

[vtqhtr413]

Content source

https://www.ghacks.net/2023/03/24/binance-trading-suspended-why-is-binance-not-working/

Binance trading suspended due to an "issue" in the engines. After the firm announced that Binance is not working, both Bitcoin and Ethereum dropped in value by 1% to $27,649 and 2% to $1,751, respectively, before recovering slightly. So, what is the issue?

"We are aware of an issue impacting spot trading on Binance.
All spot trading is currently temporarily suspended as we work to resolve this as soon as possible.
New updates will be shared here"
— Binance (@binance) March 24, 2023

More than 60% of all cryptocurrency spot trading takes place on Binance.

 

[ForgottenSeer 98186]

Binance is located in Cayman Islands. Everybody knows about Carribean-based banks, brokerages, brokers, traders, etc, right?

 

[Paul.R]

@BryanB

be ready for USDT...

 

[Ink]

Update: Trading operations have resumed.

Binance has completed temporary system maintenance and will resume all trading activity at 2023-03-24 14:00 (UTC).

Starting from now, users will be able to cancel orders, process deposits, trade on P2P, and perform lending, redemptions, asset transfers and all other account-related functions.

Withdrawals will be resumed shortly after spot trading starts.

Trailing stop order will be temporarily suspended until further notice. The existing trailing orders have expired automatically.

It is recommended that futures and margin trading users with open positions re-assess their collateral balances prior to the start of spot trading to mitigate against price fluctuations that may occur.
We sincerely apologize for any inconvenience.

Source: Binance Temporary System Maintenance Complete (2023-03-24) | Binance Support

 

[MuzzMelbourne]

Anyone else consider Sam Bankman-Fried's surname more a statement of outcome than token of identity...?

OK, you have been warned... anyone who doesn't cash in their tokens NOW, I'm afraid, deserves what they get!

 

[MuzzMelbourne]

Binance launches internal investigation following KYC bypass rumors

The Binance spokesperson also clarified to Cointelegraph that it has implemented “advanced detection tools” to monitor and crack down on usage from restricted jurisdictions.

cointelegraph.com