LiteFinance Suspends Trading for 14 Cryptocurrencies

LiteFinance, a reputable forex and CFD broker headquartered in Cyprus, has temporarily suspended trading for 14 cryptocurrency pairs. In a recent blog post, the company cited a lack of quotes from its liquidity providers for these pairs.

Notably, all affected tokens are paired with US dollars, including Stellar (STR), Golem Network Token (GNT), DAT, SUN, Token Token (MSK), Token Status Network (SNT), Token RefToken (REF), 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 these crypto pairs, and the broker is actively working to resolve the issues that led to the suspension.

This decision by LiteFinance comes shortly after Binance, a major cryptocurrency exchange, temporarily suspended spot trading on its platform. Binance had halted sterling deposits and withdrawals earlier in May and ceased sending dollars on its platform the previous month due to a bug in its matching engine's trailing stop order mechanism.

The company's CEO, Changpenz Zhao, tweeted that the platform was conducting temporary system maintenance to address the issue. Binance later announced the resumption of trading activities after the maintenance was completed.

These actions underscore cryptocurrency exchanges' challenges and technical issues as they strive to provide a reliable and secure trading environment for users.

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