The leading crypto exchange, Binance, witnessed a stiff downtime for its futures trading services earlier this morning between 14:18 and 14:36 UTC+8, disallowing users to place any trade on futures contracts.
After a number of traders noted the issue, Binance officially disclosed the temporary unavailability of futures trading on its platform.
“We’re aware of an issue affecting Futures UM trading on Binance,” the Binance team said in an X post, “All futures trading is temporarily unavailable. Our team is working to resolve this as soon as possible.”
Being the largest crypto exchange, Binance amasses billions in trading volume every day. It has a net total assets of $187 billion and a user base of over 280 million.
The exchange noted that only Futures, specifically related to its Unified Margin (UM) product, was affected. Spot, perpetual and other trading features were working fine.
At 7:00 AM UTC, the exchange announced that they have resumed all Futures operations and its all features are now functioning.
This is a developing story. More information will be updated as the story unfolds.
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