Solana News Today: Traders Lose Access as Binance Falters During $14.6B Crypto Expiry

Binance temporarily halted all futures trading due to a system issue, according to a statement on August 27, 2025. The outage affected the platform's Unified Margin (UM) trading, which includes cross-margin accounts and leveraged trading positions. The exchange confirmed it was working to resolve the issue as soon as possible and pledged to provide updates as they became available. The disruption caused frustration among traders, with some reporting losses due to inability to close positions during the suspension.

The incident coincided with the $14.6 billion Bitcoin and Ethereum futures expiry, marking one of the largest single-day settlement events in the crypto derivatives market. According to on-chain data, the volume of futures trading saw a sharp dip as the outage persisted, though exact figures on how much of the expected settlement volume was affected were not immediately available. The outage also sparked renewed conversations around the reliability and risks of centralized crypto trading platforms, with some users calling for better transparency and compensation mechanisms for losses incurred during such outages.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) is expected to soon finalize generic listing standards for commodity- and crypto-based ETFs, potentially enabling the launch of new products including those tracking altcoins like Solana (SOL) and XRP, as well as memecoins such as Dogecoin (DOGE) and even niche tokens like staking derivatives. In late July, major exchanges including CBOE BZX, NYSE Arca, and Nasdaq proposed these standards, which would streamline the approval process for crypto ETFs by aligning them with standard ETF regulations under the 1940 Act. This move could significantly reduce the regulatory burden for fund providers and speed up the introduction of new products to the market.

The potential approval of these rules comes amid a broader industry push for greater access and diversification in crypto investing. If the SEC adopts the proposed standards, it could lead to a wave of new exchange-traded products offering exposure to a range of digital assets, including those with lower market capitalizations or unique use cases. The development would mark a major shift from the current approach, under which each crypto ETF requires a separate and often protracted approval process. Analysts noted that the change could lower barriers for both institutional and retail investors, potentially expanding the overall market for crypto-based ETFs.

The recent Solana Alpenglow upgrade, which included a major network upgrade and voting mechanisms for protocol changes, also drew attention. The upgrade aims to enhance scalability and support future growth, particularly in decentralized finance and cross-chain applications. While the outage at Binance did not directly impact the upgrade, the timing underscored the broader volatility and technical challenges inherent in the rapidly evolving crypto space. Investors and traders are now closely watching how these developments will affect the performance of Solana and other altcoins in the coming months.

Source: [1] Binance says all futures trading is temporarily unavailable (https://uk.finance.yahoo.com/news/binance-says-futures-trading-temporarily-064653275.html) [2] Binance down? Current outages and problems. (https://downdetector.com/status/binance/) [3] Dogecoin ETFs—and More—Could Land Soon if the SEC... (https://www.investopedia.com/dogecoin-etfs-and-more-could-land-soon-if-the-sec-oks-new-rules-11799387)