Coinbase users recently reported issues with the platform. Coinbase and its Coinbase Pro trading platform have a history of dealing with glitches and other issues during high traffic times.
Although users reported issues early this morning, a status update from Coinbase now indicates that the platform is working fine again. 12:33 PM EST reported the update: “All services have been copied.” “We are currently monitoring our systems.”
Anthony Pompigliano, co-founder of Morgan Creek Digital, tweeted earlier Friday morning: “Coinbase disrupted the buying and selling of certain cryptocurrencies.” Several people posted on Twitter photos of their struggles trying to buy dollars on Coinbase.
Crypto-Twitter personality Ryan Broderick also pointed out problems with buying BTC for euros. He added in a separate tweet:
“For context, a large group of Twitter accounts put #Bitcoin in theaters. Elon Musk is the largest. Now $ BTC is up 15% in the last 24 hours. ”
There has been a lot of talk about drams in financial markets and social media in recent days. GameStop’s GME-branded shares had sky-high prices and were allegedly linked to the group’s social media efforts. Popular trading platform Robinhood recently suspended the purchase of a number of assets, including GME.
Coinbase often suffers from platform failures and technical issues. There have been several disruptions in 2020, including during the notable fluctuations in bitcoin prices in April and May.