Binance futures trading paused, the world’s largest crypto exchange, closed all futures trading at 9:35 AM on Friday morning. This caused panic in the market. Bitcoin and Ethereum, the top digital coins, fell by more than 2% in an hour.
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BTC, ETH Prices Tumble Amid Binance Futures Trading Paused
Yesterday evening BTC was trading above 113K, but now it has fallen to $110,000. This price is still 11.4% below the record of $128,128 set 15 days ago.
The trading volume of the last 24 hours was more than $147 billion, and system errors occur on such heavy trading days. Binance said that a bug had come, but they did not clarify the details. However, they fixed the problem in just 25 minutes.
Binance is the largest exchange in the world and they have half of the total leveraged trading. Earlier they mainly used USDT futures, now they have shifted to USDC to follow more regulation. Now everyone’s eyes are on Fed Chair Powell’s Jackson Hole speech, and this Binance issue can create more tension in the market according to the timing.
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People Also Ask:
What happened to Binance on August 29, 2025?
Binance temporarily paused USD-Margined futures trading because of a system problem. It was from 6:35 AM to 7:00 AM GMT. Trading resumed by 7:00 AM.
Why was futures trading stopped?
There was a system issue in their Unified Margin platform, which affected all futures contracts and transfers. But Binance did not reveal the exact reason.
How long was this pause?
Approximately 25 minutes, from 6:35 AM to 7:00 AM.
Did traders’ money or positions get affected?
Binance said that client funds or positions were safe. But during the outage traders were not able to manage futures positions.
Have such issues occurred before?
Yes, in 2023 also the spot market froze for 2 hours due to a software bug. Major crypto platforms sometimes glitch!
