The world's largest crypto exchange, Binance, has suspended all spot trading, deposits and withdrawals due to a software glitch. CEO Changpeng Zhao stated on Twitter that the matching engine encountered a bug on a trailing stop order, which caused the platform to temporarily shut down. The issue is currently being resolved, and the platform is expected to resume trading, deposits, and withdrawals within hours. Bitcoin and Ethereum experienced a slight sell-off upon the news. Bitcoin fell from $27,649 to under $27,300 before recovering slightly. Binance commands over 60% of all crypto spot volume, and its market share of Bitcoin spot volume reached over 90% in recent quarters due to zero commissions. The current glitch could affect the trading volume of Bitcoin on the platform if it persists.