Binance opened withdrawals just over five minutes after the issue was first reported. Users are still reportedly facing issues placing trades on both Binance and KuCoin, X posts show.
Binance posted on X that withdrawals were suspended "to keep safe", before posting around ten minutes later that withdrawals had resumed. A spokesperson for Binance said withdrawals were suspended for around 23 minutes.
An eventful 24 hours in the crypto markets saw VTHO zooming 37%, Story’s IP falling and recovering 20%, with some traders hoping that the worst of the tariffs-driven selloffs are in the past.
The size of the crypto lending market has fallen by over 43% from its 2021 high of $64.4 billion, dropping to $36.5 billion by the end of the fourth quarter of 2024.