Coinbase's trading platform is once again facing issues, with some customers seeing their account balance as $0 amid a high volume of crypto trading.
”We are aware that some users may experience increased latency… Additionally, a small number of users may experience intermittent zero balances,” Coinbase said. Post to X. “Rest assured, your funds are safe. Our team is investigating this matter and will provide you with updates. Trading is not affected at this time.”
Less than a week ago, the US-based exchange reported experiencing similar technical glitches due to heavy traffic loads. At the time, Coinbase CEO Brian Armstrong explained what happened to X. “We were modeling and load testing traffic spikes of up to 10x, and this exceeded that number. It's expensive to keep overprovisioning services, but an autoscaling solution We need to keep working and eliminate the bottlenecks that remain.”
Similar to last week, Coinbase's platform is facing issues as Bitcoin prices head toward all-time highs amid heavy trading volume. Bitcoin was trading at $66,617 as of 2:00 pm ET on Monday. Block price page.
Bitcoin price and trading volume. Image: Block pricing page.
Less than an hour after Coinbase first reported the technical issue, the exchange provided the following update. Another post to X. “We are starting to see improvements in latency and completed transfers. Rest assured that your funds are safe.”
In addition to its position as the most popular cryptocurrency exchange in the United States, Coinbase is also the institutional custodian for most currently traded spot Bitcoin ETFs, including those offered by BlackRock. It's working.
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