Binance suspends deposits and withdrawals of funds: The crypto market is under pressure The major cryptocurrency exchange Binance has announced the suspension of deposit and withdrawal operations. According to initial reports, the incident is related to platform security issues and a hacker attack. The extent of the losses and the timing of the restoration of the activity require clarification. The situation could boost the sell-off of cryptocurrencies and increase jitters in global financial markets. For the oil market, the consequences are still indirect. A possible capital outflow from risky assets could put pressure on oil futures. However, against the backdrop of the conflict in the Persian Gulf, the main factor in pricing remains the threat of physical disruptions in oil supply.