The BTC/USDT pair on the cryptocurrency exchange Binance has dropped to $2706. Following the understanding of the problem that occurred in the BTC/USDT pair, Binance CEO Changpeng Zhao made a statement through his official social media accounts. Changpeng Zhao stated that the problem in the BTC/USDT pair was only a display issue and that it did not affect any trading transactions.
The BTC/USDT pair on Binance exchange dropped to $2706. Immediately after the problem was understood, Binance CEO Changpeng Zhao made consecutive statements regarding the issue. Changpeng Zhao stated on his official X (formerly known as Twitter) account that the problem was only a display issue in the graph.
Changpeng Zhao stated that the root cause of the problem has been identified, and some new codes caused this error, and the data needs to be restored and corrected:
“The root cause has been identified, some new codes caused it. The data needs to be reverted and corrected.”
Were Trading Transactions on the Platform Affected by the Error?
Changpeng Zhao, the CEO of cryptocurrency exchange Binance, stated that the error that occurred in the BTC/USDT pair was only due to a display issue in the graph and that the trading transactions on the platform were not affected by the said error. So far, there hasn’t been any user reporting that trading transactions were affected by the error. According to Changpeng Zhao’s statement, the error is expected to be resolved within 2 hours.
