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Coinbase Infuriates Its Users by Disabling Purchases

Fri, 29/01/2021 - 16:10
Cryptocurrency exchange Coinbase has disabled purchases of some cryptocurrency assets
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Coinbase Infuriates Its Users by Disabling Purchases
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Cryptocurrency exchange Coinbase has halted USD purchases on its platform, with a plethora of users complaining about not being able to buy anything. 

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Anthony Pompliano of Morgan Creek Digital suggests that the issue might be caused by the ongoing liquidity crisis: 

It could be a liquidity crisis where the exchanges don't have enough supply to fulfill demand.          

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Image by @cryptonary

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As reported by U.Today, the biggest U.S. exchange started experiencing outages earlier today after Bitcoin soared above $38,000.  

Because of unprecedented demand, Coinbase managed to surpass video-sharing social media TikTok on Apple's App Store.    

UPDATE 1: At 4:52 p.m. UTC, the exchange informed its users that it was "working hard" to resolve the issue:    

We are continuing to investigate a technical issue that caused us to disable trading and working hard to get the service back to normal.        

This is a developing story. Stay tuned for updates.   

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