Binance, the crypto exchange founded by Changpeng Zhao, experienced a setback in its futures trading service in the early hours of April 10. Binance users experienced issues trading on the platform due to a problem with the exchange’s futures UM Rest service/API, which only affected USD-margined contracts. CEO CZ confirmed this via Twitter and added that the exchange had to migrate off some affected servers in order to resume their services. In response to this, the official Binance Twitter handle corroborated CZ’s statement. Soon after, Binance’s status page showed that all their systems were operating optimally.

Recently, Binance has been in the spotlight due to several events that took place in the crypto industry. On March 27, the Commodity Futures Trading Commission (CFTC) filed an enforcement action against the exchange, to which Binance replied in surprise and promised to work with the regulator. Additionally, on March 30, the platform suspended deposits and withdrawals from its Binance Smart Chain (BSC) network due to node issues.

Finally, rumors circulated that Interpol had issued a red alert notice for CEO CZ on April 3, to which he responded, suggesting the FUD was likely sponsored by a rival exchange.

In conclusion, Binance experienced issues in its futures trading service in the early hours of April 10. CEO CZ and its official Twitter account responded to the issue, while the exchange’s status page showed that its systems were working normally. The exchange has been in the spotlight in recent times due to several industry events, such as the CFTC filing an enforcement action against it and its suspension of deposits and withdrawals from its BSC network. Lastly, CZ responded strongly to the rumors of a red alert notice issued by Interpol.



Other News from Today