Users of Coinbase recently reported difficulties on the platform. Coinbase and its Coinbase Pro trading platform have historically experienced outages and other issues during periods of high traffic.
Although users reported problems early this morning, a status update from Coinbase now indicates that the platform is back to normal. “All services are supported,” says the update at 12:33 PM EST. “We are currently monitoring our systems.”
“Coinbase has disabled the buying and selling of some crypto assets”, tweeted Anthony Pompliano, co-founder of Morgan Creek Digital, on Friday morning. Several people on Twitter have posted photos of their struggle to shop with USD on Coinbase.
The GameStop Effect has now completely changed the crypto market. There is a great Twitter guide $ btc Pump is happening today and Coinbase – basically the Robinhood for entry-level crypto trading – has frozen USD purchases. I just tested it myself. pic.twitter.com/xpJCQjA0uh
– Ryan Broderick (@broderick) January 29, 2021
The GameStop Effect has now completely revolutionized the cryptocurrency market. A big $ btc bomb happened today led by Twitter and Coinbase, basically the Robinhood for entry-level cryptocurrency trading, has frozen purchases in USD. I just tried it myself.
“For context, many large Twitter accounts have added #Bitcoin to their BIOS. Elon Musk is the greatest. Now $ BTC is up almost 15% in the past 24 hours. “
There has been a significant conversation about the drama in financial markets and on social media in recent days. GameStop’s shares under the symbol GME reportedly rose sharply in price in connection with efforts by a trading group on social media.. Popular trading platform Robinhood recently suspended its purchases of several assets, including GME.
Coinbase often suffers from platform failures and technical difficulties. Various outages occurred in 2020, including during notable Bitcoin price movements in April and May.