Cryptocurrency exchange Coinbase has halted USD purchases on its platform, with a plethora of users complaining about not being able to buy anything.
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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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.
Arman Shirinyan
Alex Dovbnya
Denys Serhiichuk