Cryptocurrency exchange Binance recently suffered a temporary outage on its futures UM platform, but has now resolved the matter.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
3 mins read
Leading digital asset service provider Binance has put up a post informing its users and the general public that trading on its USD-M Futures platform has been restored. This came shortly after an issue was discovered on the platform, and trading was immediately brought to an abrupt halt.
In the early hours of Aug. 29, Binance announced that it had suspended Futures trading.
We’re aware of an issue affecting Futures UM trading on Binance.
All futures trading is temporarily unavailable. Our team is working to resolve this as soon as possible.
New updates will be shared here. Thank you for your patience.
— Binance (@binance) August 29, 2025
The nature of the “issue” was not disclosed, but the Binance team was investigating the matter, with the promise to share updates.
Judging by Binance’s size and the volume of transactions conducted daily on the platform, such an outage could be catastrophic. Several million users could lose their assets, a scenario that could negatively impact the broader cryptocurrency market.
The crypto behemoth returned about an hour later to say that the issues affecting Futures UM trading had been resolved. Hence, the Futures trading is back to its full operations. According to Binance, users’ assets remain secured as they were not affected by the temporary outage.
The issue affecting Futures UM trading on Binance has been resolved. All futures trading is now fully operational.
Thank you for your patience and support!
— Binance (@binance) August 29, 2025
There is no certainty that it bears any connection, but it is worth noting that Binance was out here a while ago, warning users of a new scam strategy. The company’s CEO, Richard Teng, took to X to alert the public about a fake call scam targeting crypto users. The goal of the perpetrators is to get their victims to change their API.
Based on his post, these bad actors mimic official communication lines, and once trust is established, they request users’ personal information.
This way, they can gain unauthorized access to users’ accounts. On this premise, he advised that users stay vigilant, while emphasizing that the exchange will “never ask for your passwords or credentials over the phone.”
On the other hand, the crypto exchange has been busy with other activities. On Aug. 11, Binance was onboarded as Mantra Chain’s mainnet validator.
It has now joined the likes of Nansen, Google Cloud, Twinstake, and Hex Trust. The firm’s responsibility involves bringing on board unparalleled experience that could help decentralize the Real World Asset (RWA) and tokenization-based Layer-1 blockchain’s governance process.
Its reputation is significant to improving trust in the Mantra ecosystem. Precisely, Binance could be instrumental to pushing the decentralized data infrastructure leader towards an even more robust future.
In the same spirit of partnership, this top crypto exchange recently partnered with Spanish banking giant BBVA to explore crypto custody solutions for its customers. Through this deal, Binance hopes to expand its footing in the EU crypto industry. Plus, one source allegedly noted that the Spanish bank has stronger “name recognition” compared to Binance’s current partners.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
