On Friday, Binance, the world’s leading derivatives exchange, temporarily halted all futures trading on its platform. The company announced it was aware of an issue and that its team was working to resolve it as quickly as possible. The specific cause of the outage was not initially disclosed.
The disruption affected a significant part of the crypto market, as Binance holds the second-largest amount of Bitcoin futures open interest, trailing only behind the CME Group. Other major players in the futures market include OKX and Bitget.
In an update shortly after the initial announcement, Binance clarified that the issue had been resolved and all futures trading was fully operational again. The problem specifically affected “Futures UM trading,” which refers to the service allowing users to settle crypto futures in stablecoins like USDC and USDT.
August 2025, Cryptoniteuae
