Binance, recognized as the largest cryptocurrency exchange globally by trading volume, has resumed futures trading following a brief disruption attributed to a “system issue” affecting its Unified Margin (UM) offering.
“The situation impacting Futures UM trading on Binance has been addressed. All futures trading services are now fully restored,” Binance announced in a post on X.
The interruption prevented traders from closing or managing their positions, raising concerns within the derivatives market where Binance holds a significant share of the global volume.
The UM, introduced in 2022, enables users to consolidate margin assets across various contracts and collateral types, meaning that a shutdown has more extensive ramifications than a typical product outage.
As of Friday morning, Binance reported over $40 billion in open interest in crypto futures positions. Previous disruptions on the platform, commonly linked to technical challenges during high volatility periods, have generally lasted anywhere from less than an hour to several hours.
UPDATE (Aug. 29, 07:10 UTC): Headline and story updated to reflect Binance resuming futures trading.
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