Crypto exchange Binance has just announced a major system update. Scheduled for this week, it will be accompanied by temporary interruptions. Ahead of this, the crypto company's co-founder Changpeng Zhao is set to be released from prison on September 29. This combination of events could shake up the cryptocurrency market in the coming days.
Binance halts crypto services for crucial update
On September 23, crypto exchange Binance 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 cryptographic platform systems.
However, it will involve intermittent interruptions across all crypto services. This includes:
- spot trading,
- futures trading,
- P2P.
Binance, however, reassures its users. The update will not affect crypto transactions via API or the security of digital assets.
Changpeng Zhao: His Return from Prison and Its Impact on Binance
The imminent return of Changpeng Zhao (aka CZ) could have major repercussions for Binance as well as the crypto market. Convicted in April for money laundering, he will be released from prison on September 29. Zhao plans to return to Dubai to focus on educational initiatives such as Giggle Academy.
While CZ’s absence has not directly affected Binance, some crypto experts believe that his release could:
- reassure investors,
- bring some stability to the crypto business.
It should also be noted that CZ remains involved in ongoing legal cases, which could influence the future of the crypto exchange platform.
Between Binance's technical update and Changpeng Zhao's return, the next few days promise to be decisive for both the crypto exchange and the cryptocurrency market. Users have every interest in closely following these events that could influence market dynamics.
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