Cryptocurrency trading platform Binance announced on Friday that it has resumed all futures trading on its platform after a technical glitch temporarily suspended the service earlier.
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Binance added: "The issue affecting the trading of UM Futures contracts on the platform has been resolved," referring to the service that allows users to settle cryptocurrency futures contracts using stablecoins like USDC and USDT.
The world’s largest cryptocurrency exchange confirmed that "all futures trading is now fully operational."
The outage prevented traders from closing or managing their positions, raising concerns in the derivatives market where Binance holds a significant share of global trading volume.
The UM service, launched in 2022, allows users to aggregate margin assets across contracts and various types of collateral, meaning that its suspension has broader implications than just disrupting a regular product.
The value of open positions on cryptocurrency futures contracts on Binance exceeds $40 billion as of Friday morning. Previous outages on the platform, often linked to technical bottlenecks during periods of extreme volatility, typically ranged from less than an hour to several hours.
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