Binance Temporarily Suspends Spot Trading; Bitcoin Price Tumbles

Bitcoin News: Binance, the world’s largest crypto exchange announced that all spot trading on the platform is suspended on a temporary basis. It added that they are aware of an issue impacting the service and it will be resolved as soon as possible.

CZ Comes To Rescue Binance

Changpeng Zhao (CZ), CEO of Binance stated that after an initial analysis, it is indicated that the matching engine encountered a bug on the trailing stop order. He highlighted that the estimated recovery time has come out to be anywhere between 30-120 minutes.

CZ indicated that deposits and withdrawals are paused as a part of SOP and all the funds are safe. However, the state of orders in the matching engine might affect the available funds for withdrawal, he added.

As per CZ, the biggest exchange pausing trading won’t affect crypto prices much. However, when Binance will be up again, their deeper order book will bring the prices back to normal.

Also Read: Binance.US To Get Wells Notice Next? XRP Lawyer Claims This

Binance reported that there Engine 1 is back online. Meanwhile, it still needs more time in order to do reconciliations as other engines need to catch up.

Bitcoin Price Tumbles

Bitcoin, the world’s biggest digital asset price suddenly dropped by $400 straight to lose the $28K level. However, Bitcoin regained the $28K price level quickly. It is trading at an average price of $28,028, at the press time. Read More Bitcoin News Here…

Ethereum price also fluctuated as the crypto exchange witness bug issues. ETH is trading at an average price of $1,767, at the press time.

Also Read: Nasdaq To Offer Crypto Custody Services Soon Despite Regulatory Burden

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.