Leading online broker LiteFinance recently announced the trading suspension of 14 cryptocurrency pairs after Binance temporarily suspended spot trading on its platform.
LiteFinance, a trusted forex and CFD broker based in Cyprus, recently halted trading in 14 cryptocurrency pairs. In a blog post, the company announced Friday that its liquidity providers are not offering quotes for the pair "at the moment."
All affected tokens are paired with US dollars, including Stellar (STR), Golem Network Token (GNT), DAT, SUN, Token Token (MSK), Token Status Network (SNT), and Token RefToken (REF). Others are WAVES Token, DigiByte (DGB), AnonToken (ANT), NULS, CoinAlpha (ALP), Alien Worlds Price (TLM), and Chiliz (CHZ).
According to LiteFinance's official website, traders can only close positions in this crypto pair as the suspension result. The broker hopes to resolve the issues that led to the suspension soon.
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Suspension of Spot Trading by Binance
LiteFinance announcement comes hours after Binance temporarily suspended spot trading on its platform.
"Preliminary analysis of cryptocurrency exchanges shows that the matching engine found a bug in the trailing stop order. Whereas deposits and withdrawals on the platform have been temporarily suspended as standard procedure," Changpenz Zhao, CEO of Binance, posted in a tweet.
However, Zhao later tweeted, "Machine 1 is back online. Needs more time for reconciliation and other engines to catch up."
In its latest announcement, Binance restored all trading activity on its platform at 14:00 UTC since temporary system maintenance was completed. The deposit and withdrawal suspension comes within a week of a primary cryptocurrency exchange halting sterling deposits and withdrawals on its platform in May. The digital asset company stopped sending dollars on its platform last month.