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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Cryptocurrencies

Cryptocurrencies

Binance halts deposits, withdrawals amid technical issues – CEO

Photo Creator: BENOIT TESSIER Photo Creator: BENOIT TESSIER
Photo Creator: BENOIT TESSIER Photo Creator: BENOIT TESSIER

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On Friday, Chief Executive Changpeng Zhao tweeted that Binance has banned deposits and withdrawals owing to spot trading concerns.

“Early study reveals matching engine hit a fault on a trailing stop order,” he tweeted, adding that the deposit and withdrawal wait as usual.

“Engine 1 restarted. Need more time to reconcile and catch up, “Zhao tweeted afterward.

A month after stopping dollar transactions, Binance, the world’s largest crypto exchange, stopped pound deposits and withdrawals last week.

Traditional money transfers stopped amid a U.S. crypto crackdown.

Reuters reported that the Justice Department is investigating Binance for money laundering and sanctions breaches.

Last month, a top Binance official told The Wall Street Journal and Bloomberg that Binance anticipated paying penalties to settle U.S. probes.


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