Crypto crash leads Coinbase to go down, cancelling orders and showing errors as users look to sell bitcoin

Andrew Griffin
Tuesday 07 September 2021 17:39
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Coinbase has gone down amid a huge crash in the value of cryptocurrency.

Bitcoin has lost around 10 per cent of its value in the dramatic fall, which began suddenly on Tuesday afternoon UK time.

But many investors were unable to buy or sell cryptocurrency as the world’s leading cryptocurrency platform was again hit by technical issues.

On Twitter, Coinbase said it was aware of the issues and looking to investigate.

“We’re aware transactions are currently delayed or cancelled at elevated rates and our apps may be experiencing errors,” it said. “Our team is investigating the issue and we’ll update here as soon as we know more.”

Coinbase has been hit by technical problems during price plunges in the past. In May, when bitcoin lost $10,000 from its value over the course of a few hours, it was among a number of exchanges that were left unable to make trades amid huge volumes.

The issues come as Coinbase settles into its position as a public company, after becoming the first cryptocurrency firm to conduct an IPO. That was completed in April – its price fell from its initial listing, but has been gaining back since, though it was down almost 4 per cent on Tuesday.

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