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Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown
Coinbase

BREAKING: Coinbase Faces Second Crash In A Week

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Breaking News Ticker
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Coinbase, one of the leading cryptocurrency exchanges, has again experienced technical difficulties, with its platform crashing amid heightened market activity and bullish sentiment. 

Coinbase Assures Users Of Fund Safety

This incident follows a similar crash just five days ago reported by Bitcoinist, which caused Coinbase’s stock to plummet and frustrated users with zero balances on their accounts. 

Reports on social media platforms, such as X (formerly Twitter), highlighted the issue, prompting Coinbase’s support account to acknowledge the problem and assure users that their assets were safe. 

Related Reading: Shiba Inu Lead Developer Declares Its Time To Showcase Project’s Power

The exchange’s support account has issued another statement regarding the current outage, stating that funds remain secure and trading is unaffected. The statement reads:

We are aware some users may experience increased latency across http://Coinbase.com and a few users may see intermittent zero balance. Rest assured, your funds are safe. Our team is investigating this issue and will provide an update. Trading is not impacted at this time.

Intermittent Technical Issues

The recent surge in market activity and prevailing bullish sentiment has significantly strained Coinbase’s infrastructure, resulting in intermittent technical issues. 

Coinbase
Increased outages were reported in the last 24 hours in Coinbase’s platform. Source: DEGEN News on X

Traders and investors flocking to the platform to take advantage of the market’s positive momentum may have overwhelmed the exchange’s servers, causing some users to experience latency and intermittent zero balance issues.

Related Reading: Crypto Analyst Says Solana-Based WIF Will Flip Two Large Meme Coins, But Which Ones?

However, nothing is certain as there has been no further official statement from the exchange’s support account or Coinbase executives as of this writing.

Coinbase
The daily chart shows COIN stock’s uptrend. Source: COIN on TradingView.com

Currently, the exchange stock, listed under the ticker name COIN, is trading at $226. This marks a significant increase of over 10% in the past 24 hours. The surge in price comes as Bitcoin spot ETFs gain traction in the market and Bitcoin itself moves closer to its previous all-time high of $69,000.

Featured image from Shutterstock, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ronaldo Marquez

Ronaldo Marquez

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Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

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