- Crypto exchange Binance paused all spot trading.
- The problem is anticipated to be fixed within the next few hours.
Binance the biggest cryptocurrency exchange in the world, has briefly stopped all spot trading, deposits, and withdrawals due to an issue that it is trying to fix.
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
The problem is anticipated to be fixed within the next few hours, according to Binance CEO Changpeng Zhao, who also explained that the trading halt was a precaution. Some users voiced concerns about the technical problem, while others made jokes about it or recommended switching to decentralized exchanges.
Regarding the nature of the issue that caused the unexpected halt or an estimated timeframe for its resolution, Binance has not offered any additional information. As per reports, the giant informed its customers that its team is trying to resolve the problem as soon as possible.