Coinbase Global Inc COIN said that it has now completely solved the issue of failed trades on its platform.
What happened: a A number of Coinbase users reported that easy trades on the crypto exchange were not being processed on Tuesday. Some users also said that they could not withdraw their cryptocurrencies from the platform.
In a Twitter update, Coinbase support acknowledged the issue of some trades “intermittently failing” and said their team had already implemented a fix. In a follow-up tweet, the exchange announced that the issue had been fully resolved.
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We have completely resolved this issue and just move on https://t.co/ohqDivlp6Y are processed normally. We apologize for the inconvenience. https://t.co/1YhYPunYg0
— Coinbase Support (@CoinbaseSupport) September 13, 2022
Why it matters: Still, many users criticized that the outage came at a time when the crypto market was in the midst of a sharp downturn.
US inflation data rattled markets as trader sentiment weakened after disappointing CPI read. Bitcoin BTC/USD fell from pre-$22,000 to a low of $20,062 on Tuesday, followed by ether ETH/USD, Dogecoins DOGE/USD and several other leading cryptocurrencies.
Funny how your problems always seem to come up during sell offs and rallies…
— g35junkie (@g35junkie) September 13, 2022
Hard to laugh when all your $’s get stuck in the coin base while your cost of living inflates by 8% a year
*COINBASE: STUDYING THE PROBLEM OF TRADE FAILING INTERMITTENTLY
— 1 main capital (@1 main capital) September 13, 2022
