Cryptocurrency bitcoin has fallen to $ 2700 on the Binance exchange

Yesterday, the price of the flagship cryptocurrency on the world’s largest crypto exchange, Binance, suddenly plummeted from $ 27,000 to $ 2,700. As it turned out, the platform experienced an API failure that caused a temporary drop.

Members of the cryptocurrency community began to actively share screenshots of the Binance trading interface, demanding explanations from the exchange’s management. Shortly after the incident, Binance CEO Чанпен Чжао" href="https://noworries.news/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao posted a message on Twitter explaining that the error was solely in the display of BTCUSDT and ETHUSDT futures charts and did not affect trading.

However, some clients of the platform doubted CZ’s statement. Thus, a user under the nickname @willit-X stated that as a result of the failure, Binance liquidated his open position for $ 200,000. Another community member asked Changpeng Zhao about the fears of traders who panicked and exited trades due to a price display error. «You say that it hasn’t affected trading — but what about the trades that traders closed in panic? «he wrote.

This week, Binance has been in the headlines repeatedly, in part because of its announcement that it is leaving the Russian market. on September 27, the exchange announced its final withdrawal from Russia. «As we look to the future, we realize that operating in Russia is incompatible with Binance’s compliance strategy,» said Noah Perlman, chief compliance officer at Binance, «We remain confident in the long-term growth of the Web3 industry globally and will focus our energy on the more than 100 countries in which we operate.»