Continuing a trend established years ago, top U.S. crypto exchange Coinbase disclosed Tuesday that “some users may be experiencing errors when transacting.” The status update came four minutes after the company reported its previous slate of “intermittent transaction failures” as resolved.
These latest technical troubles come hours the price of Bitcoin surged to a new all-time high—before collapsing after the milestone triggered liquidations and sell-offs.
In the frenzied run-up to the new record price, Coinbase was working overnight on availability issues, with a previous status note posted fifteen hours prior.
“Some users may experience intermittent errors in trading, deposits, and withdrawals across Coinbase.com,” the company disclosed late Monday. “If you encounter a failure, we recommend that you retry your transaction.”
The Coinbase exchange has regularly struggled when there’s a Bitcoin rally, as industry-wide interest in the top cryptocurrency peaks. So regular is this development that many consider Coinbase crashes to be one of the signs of an official Bitcoin bull run.
This is a developing story and will be updated as new information becomes available.
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Source: https://decrypt.co/220294/coinbase-crash-bitcoin-all-time-high-march-2024
