Binance resolve issues impacting futures traders Binance resolve issues impacting futures traders
Binance CEO Changpeng 'CZ' Zhao said the exchange's futures UM Rest service/API had issues that affected its user interface (UI) and API.
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Updated: Apr. 10, 2023 at 9:47 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Binance futures users experienced issues trading on the platform during the early hours of April 10.
The issues appeared to have been resolved, and trading resumed at the time of writing.
CEO Changpeng ‘CZ’ Zhao said the exchange’s futures UM Rest service/API had issues that affected its user interface (UI) and API. He added that this only impacted USD-Margined contracts.
CZ later revealed that services had resumed after the exchange migrated off some affected servers.
“Some server issues before. Our team migrated off the affected servers.”
The exchange’s official Twitter handle corroborated CZ’s statement.
Binance’s status page showed that all its systems operated optimally as of press time.
Binance struggles
The CZ-led exchange has come under increased scrutiny following recent events in the industry,
On March 27, the Commodities Futures Trading Commission (CFTC) filed an enforcement action against Binance. At the time, the exchange said the charges were “unexpected” and promised to cooperate with the regulator.
The exchange temporarily suspended deposits and withdrawals from its Binance Smart Chain (BSC) network on March 30, citing node issues.
Meanwhile, rumors emerged that Interpol issued a red alert notice for CZ on April 3. CZ said this FUD was likely planted and sponsored by a rival exchange.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.