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Crypto exchange Binance has just announced a major update to its system. Scheduled for this week, it will be accompanied by temporary interruptions. Co-founder of crypto company Changpeng Zhao is preparing to be released from prison on September 29. This combination of events could shake up the cryptocurrency market in the coming days.
Binance is suspending its crypto services for a major update
On September 23, the Binance crypto exchange informed its users that a major upgrade would take place this Wednesday, September 25 at 06:30 UTC. This update aims to improve the performance and stability of the crypto platform’s systems.
However, it will include intermittent interruptions on all cryptographic services. This includes:
- spot trading,
- futures trading,
- P2P.
However, Binance reassures its users. The update will not affect crypto transactions via the API or the security of digital assets.
Changpeng Zhao: his return after prison and its impact on Binance
The impending return of Changpeng Zhao (aka CZ) could have significant implications for Binance and the crypto market. Convicted of money laundering in April he will be released from prison on September 29. Zhao plans to return to Dubai to focus on educational initiatives such as the Giggle Academy.
Binance was certainly not directly affected by the absence of CZ. However, some crypto experts believe that its release could:
- reassure investors
- bring some stability to the crypto business.
Please also note that CZ is still involved in ongoing legal cases. Which could affect the future of the cryptocurrency platform.
Between the Binance technical update and the return of Changpeng Zhao, the next few days promise to be decisive for both the crypto exchange and the cryptocurrency market. Users are keen to closely monitor these events that could affect market dynamics.
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My name is Ariela and I am 31 years old. I have been working in the field of web development for 7 years. I only discovered trading and cryptocurrencies a few years ago. But it’s the universe that interests me a lot. And the topics covered within the platform allow me to learn more. A singer in my spare time, I also have a great passion for music and reading (and animals!)
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.