Coinbase Global Inc COIN said it has now fully resolved the issue of failing trades on its platform.
What Happened:A number of Coinbase users reported that simple trades on the crypto exchange were not being processed on Tuesday. Some users also said that they were unable to 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.
Why It's Important: Still, many users criticized the fact that the outage occurred at a time when the crypto market was in the middle of a sharp downturn.
US inflation data sent markets into turmoil as trader sentiment weakened following disappointing CPI numbers. Bitcoin BTC/USD plunged from ahead of $22,000 to a low of $20,062 on Tuesday, followed by Ethereum ETH/USD, Dogecoin DOGE/USD and several other leading cryptocurrencies.
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