Crypto price crash: Coinbase, Binance and other major exchanges break as bitcoin plunges

Anthony Cuthbertson
Wednesday 19 May 2021 19:41
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Major crypto exchanges are down as bitcoin’s price plunges

Coinbase, Binance and other major crypto exchanges appear to be down amid a market-wide price crash.

Bitcoin has fallen by more than $10,000 in the last few hours, with customers reporting difficulties in accessing their accounts.

There were also issues for online banking apps that offer cryptocurrency trading, such as Revolut.

>> Follow all the latest updates with The Independent’s live coverage of the crypto market

Ethereum (ether), Cardano (ada), dogecoin and bitcoin cash also saw major losses on Wednesday, with comparisons being drawn to the last major market crash experienced in 2017/18.

Hundreds of reports indicating problems at Binance and Coinbase were registered by website health checker DownDetector, as well as with the exchanges Gemini and KuCoin.

>> Ask bitcoin experts anything about the crypto market crash

Some users took to social media to express their frustrations at not being able to either cash out their holdings or “buy the dip”.

The Independent has reached out to the exchanges for comment.

More to follow.

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