NewsletterBreaking: Binance Futures Users Affected; CZ Replies
Crypto News: On Monday, Binance, the world’s biggest crypto exchange, reported that the platform registered some issues affecting its Futures users. It mentioned that their team is working on the solution and updates will be provided to users over time.
Binance Users Affected Again
Changpeng Zhao (CZ), Binance CEO stated that the exchange is facing several issues with Futurrs UM Rest service/API which have affected its UI and API. He added that Futures CM (COIN-Margined) contracts are unaffected by turbulence. However, only UM (USD-Margined) Contracts are reportedly being affected.
CZ stated that the affected systems are back to normal now. He added that there were some server issues that generated disturbance. However, they have now migrated off the affected servers.
However, the Crypto market hasn’t reflected any kind of drop till now. The cumulative digital asset market is up by 1.15% over the past day to stand at $1.18 trillion. Bitcoin, the world’s largest crypto price is up by 1.4% over the past 24 hours. BTC is trading at an average price of $28,283, at the press time. Read More Crypto News Here…
Also Read: FTX Identifies Critical Failures By Sam Bankman-Fried And His Inner Circle
Binance has been reporting events disturbing trading quite frequently. Earlier, It suspended all spot trading on the platform on a temporary basis. However, it was found that a matching engine encountered a bug on the trailing stop order.
However, after facing a lawsuit from U.S. Commodity Futures Trading Commission (CFTC), Binance received a major jolt from Australian authorities. CZ clarified that the derivatives license of Binance Australia that was canceled in a recent official order. He added that the spot exchange will continue to operate in the nation.
Also Read: Bitcoin Is All Geared Up For ‘Explosive Growth’, Here’s What On-Chain Data Tells
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