Bitcoin falls below $ 28,000, as Binance announced the temporary suspension of the spot trade

Bitcoin falls below $ 28,000, as Binance announced the temporary suspension of the spot trade

The world's largest crypto exchange has announced the temporary suspension of the cash description due to an error.

Although the team said that they were working on solving the problem, Bitcoin's price immediately fell by almost a thousand.

• Binance went to Twitter to outline the platform problems that affected the spot trade functions. The company said that it was exposed to this trade while working on a solution.
• An update from CEO Changpeng Zhao (CZ) throws more light on the potential nature of the problem.

The first analysis shows that matching engine has met with a trailing stop order (a strange). Recreation. Estimated 30-120 minutes. Waiting for more detailed ETA.

deposits and withdrawals are paused as SOP (Standard Operating Procedure). Funds are #Safu . 🙏 https://t.co/mvtgq3jlma

- cz 🔶 binance (@cz_binance) 24. March 2023

• Despite the assurances of the Binance team that they are working on a solution, BTC and the rest of the cryptom market react with immediate price returns.
• The largest digital assets fell by $ 700 to $ 27,500. Ethereum fell from over $ 1,750.
within minutes
• okx, another crypto giant, recently had a similar failure that is related to some of his servers.

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