Binance resumes withdrawals, resumes payments after technical glitch

The company said in a tweet that Binance had resumed withdrawals on its platform after technical issues affected spot trading.

The pause in deposits and withdrawals was a standard operating procedure, according to Chief Executive Changpeng Zhao, who said that Binance had suspended deposits and withdrawals earlier on Friday due to a bug on a trailing stop order.

Ilya Volkov, CEO of Youhodler, agreed that the pause was caused by a technical glitch and would not affect the price of cryptocurrencies.

The world's largest criptocurrency,Bitcoin, was down 1.14 per cent at $28,021. It hit a nine-month high on Monday.

These bugs could happen everywhere, and cripto exchanges are not unique, according to Volkov.

A spokesman for Binance did not respond to a request for additional comment.

A month after it stopped dollar transfers, the world's largest cripto exchange said last week it will halt sterling deposits and withdrawals.

The cessation of traditional currency transfers comes amid a growing crackdown by the U.S. authorities.

The Justice Department is looking into Binance's involvement in money laundering and sanctions violations, according to a report by the Justice Department.

A top Binance executive told The Wall Street Journal and Bloomberg last month that Binance expected to pay penalties to resolve U.S. investigations into the company.