Crypto giant Binance temporarily suspends spot trading

Binance, the world’s largest crypto exchange, said Friday it has temporarily suspended all spot trading on its platform as it works to resolve an issue.

The exchange did not identify the nature of the issue.

Binance commands over 60 percent of all crypto spot volume. It has also increased its market share of Bitcoin spot volume to over 90 percent in recent quarters, thanks to zero commission, according to according to Arcane Research.

Bitcoin fell 1 percent to $27,649 and Ethereum fell 2 percent to $1,751 on the news.