Binance, the world’s largest cryptographic exchange by volume, restarted the futures trade after a brief interruption caused by a “system problem” that affects its unified margin (UM) product.
“The problem that affects the futures trade UM in Binance has been resolved. All futures trade is now completely operational,” Binance said in an X publication.
The interruption left merchants unable to close or administer positions, which increases concerns throughout the derivative market, where Binance has a large part of the global volume.
UM, launched in 2022, allows users to group margin assets in all contracts and types of guarantees, which means that a closure has broader implications than a standard product interruption.
Binance has more than $ 40 billion in open interests in cryptographic future positions from Friday morning. Past interruptions in the exchange, often linked to technical bottlenecks during high volatility periods, have lasted less than an hour to several hours.
UPDATE (August 29, 07:10 UTC): Update the holder and the story with Binance resuming the trade of futures.
Read more: Token’s treasures and tokenization are fantastic for cryptography, but the risks remain, says Binance’s Cz
