Coinbase users recently reported suffering difficulties on the platform. Coinbase and its trading platform, Coinbase Pro, have a history of experiencing outages and other issues during high-traffic times.
Although users reported problems early this morning, a status update from Coinbase now indicates the platform is working normally once again. "All services are back up," the update said at 12:33 pm EST. "We are currently monitoring our systems."
“Coinbase has disabled buying and selling of some crypto assets,” Morgan Creek Digital co-founder Anthony Pompliano tweeted earlier on Friday morning. Multiple folks on Twitter posted pictures of their difficulties when attempting USD purchases on Coinbase.
“For context, a bunch of big Twitter account have put #Bitcoin in their bios. Elon Musk being the biggest. Now $BTC is up almost 15% in the last 24 hours.”
Significant chatter has arisen in recent days surrounding drama in the financial markets and on social media. GameStop’s stock, under the ticker GME, enjoyed a significant rise in price, allegedly in connections with the efforts of a trading group on social media. Popular trading platform Robinhood recently suspended buying for a number of assets, including GME.
Coinbase often suffers platform downtime and technical difficulties. Multiple outage instances occurred in 2020, including during notable Bitcoin price moves in April and May.