Binance to Undergo Scheduled Service Interruptions During Major Upgrade Before Changpeng Zhao’s Release
Binance, the global cryptocurrency exchange leader, has informed users of upcoming intermittent service interruptions during a significant system upgrade. This upgrade is intended to enhance performance and overall system stability, coinciding with the anticipated release of co-founder Changpeng Zhao, who is expected to return to Dubai.
Key Highlights:
- Binance alerts users to possible service disruptions during a planned system upgrade.
- The upgrade is designed to improve system efficiency and stability.
- The timing coincides with the upcoming release of Binance co-founder Changpeng Zhao.
On Monday, Binance, the largest cryptocurrency exchange worldwide, announced a major system upgrade scheduled for this week. This upgrade is expected to cause temporary service interruptions across all its platforms. The timing of this announcement aligns with Changpeng Zhao’s scheduled release from a California correctional facility on September 29.
Binance's System Upgrade and Service Disruption Details
The upgrade, scheduled for Wednesday, aims to enhance system performance and stability, according to Binance’s official statement on September 23. Unlike typical maintenance periods, this upgrade may cause brief disruptions to all services, potentially affecting the broader cryptocurrency market given Binance’s leading position in the space.
The upgrade is set to begin at 06:30 UTC on September 25 and will last approximately three hours. During this period, users might experience temporary issues accessing various features, including logging in, trading (across Spot, Margin, Futures, and P2P), VIP services, and other account-related functionalities.
"During the maintenance, users might find themselves unable to access their accounts or manage their open positions/orders for a few minutes at a time. However, users will regain access shortly after," stated Binance. Despite these brief disruptions, the exchange assured that trading via API will remain unaffected, and user data and assets will be safeguarded. Nevertheless, Binance encourages users to remain cautious and avoid any potential risks during the upgrade.
Changpeng Zhao Set to Return to Dubai After Prison Release
Changpeng Zhao, Binance’s co-founder, is scheduled for release on September 29, as confirmed by the U.S. Federal Bureau of Prisons website. Zhao had been serving a four-month sentence following a conviction on money laundering charges earlier this year.
Upon his release, Zhao is expected to return to Dubai, where he will reunite with his family and continue his efforts with Giggle Academy, a new educational initiative he recently launched.
Zhao remains a central figure in the U.S. SEC’s lawsuit against Binance, which accuses the exchange of violating securities laws. In the latest development of this legal battle, the SEC has sought to modify its complaint to address the use of "crypto asset securities" — a term absent from current U.S. legislation.
#Binancenews #Binance #Cryptonews
$BTC