Binance says withdrawals have resumed after technical glitches – Reuters


LONDON, March 24 (Reuters) – Cryptocurrency exchange Binance has resumed withdrawals on its platform after technical issues affected spot trading, the company said in a tweet.
Binance suspended deposits and withdrawals earlier on Friday due to a "bug on a trailing stop order," Chief Executive Changpeng Zhao said in a tweet, adding that the pause in deposits and withdrawals was a standard operating procedure.
Ilya Volkov, CEO of Youhodler, a crypto lending platform, agreed that the pause was a result of a technical glitch and would not affect cryptocurrency prices significantly.
Bitcoin , the world's largest cryptocurrency was down 1.14% at $28,021. It hit a nine-month high on Monday.
"These kinds of bugs could happen everywhere, and crypto exchanges are not unique," Volkov said.
A Binance spokesperson did not respond to a request for additional comment.
The world's largest crypto exchange said last week it will halt sterling deposits and withdrawals, a month after it ceased dollar transfers.
The cessation of traditional currency transfers comes amid a growing crypto crackdown by U.S. authorities.
Reuters has previously reported that the Justice Department is investigating Binance for suspected money laundering and sanctions violations.
A top Binance executive told The Wall Street Journal and Bloomberg last month that Binance expected to pay penalties to resolve U.S. investigations into the company.
Our Standards: The Thomson Reuters Trust Principles.
Faraday Future Intelligent Electric said on Tuesday its interim finance chief has resigned and the company will restate its financial statements for 2022 and the quarter ended March 2023 after it uncovered some errors, highlighting continued turmoil at the electric vehicle firm.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2023 Reuters. All rights reserved


Leave a Reply

Your email address will not be published. Required fields are marked *