Binance's Trading Halt Sends Bitcoin on a Wild Ride.
TL;DR Summary
Binance, the world's largest cryptocurrency exchange, suspended all trading, deposits, and withdrawals due to a bug on a trailing stop order. The shutdown immediately impacted Bitcoin, with prices dropping from $28,055 to $27,541 within minutes. CEO Changpeng Zhao reassured traders that all funds were safe and trading was expected to resume within two hours. Trading resumed at 10 am EDT, with trailing stop order functionality temporarily suspended until further notice.
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- Binance suffers two-hour outage after software glitch Financial Times
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