Leading Bitcoin exchange Coinbase announced today that it is experiencing a technical issue. The cryptocurrency exchange later announced that it had solved the problem as a result of studies.
Giant Bitcoin exchange announces a technical problem
Coinbase support team announced on Twitter that users are encountering intermittent failures while logging in, initiating transactions, and accessing the Earn page on both the Coinbase website and mobile app. The Bitcoin exchange announced that its support team is actively working to resolve these technical issues. It also promised to provide updates as soon as possible. However, the exact reason for these technical difficulties remains unclear.
“We are investigating an issue where customers are seeing intermittent errors when signing in, starting a trade, and viewing the Earn page on http://Coinbase.com and the Mobile App,” Coinbase said in a statement. We will post an update here as soon as possible.”
https://twitter.com/CoinbaseSupport/status/186067011665743873
Coinbase announced it has fixed the issue
By the way, users gave feedback to the explanation. “Also, conversions don’t work on mobile,” said a user named Ricky in this context. In response to the user, the Bitcoin exchange said, “Hi Ricky, we apologize for the delay. Thank you for bringing this matter to our attention. Our systems are experiencing problems and the incident is being actively investigated.” gave the answer.
Shortly after, Coinbase said, “Our teams have identified the root cause. We are working on a fix. We will notify you when these issues are resolved. Thank you for your patience!” In the latest development, the exchange announced that it has officially resolved the issue. He stated that his customers should no longer experience malfunctions. It also apologized to users.
We have officially resolved the issue and customers should no longer be experiencing failures. We apologize for any inconvenience. https://t.co/8dTp2BuySo
— Coinbase Support (@CoinbaseSupport) July 31, 2023
SEC’s annoying requests from Coinbase!
As you follow on Kriptokoin.com, the U.S. Securities and Exchange Commission has asked Coinbase to stop trading all cryptocurrencies other than Bitcoin before suing the exchange, signaling the institution’s intent to establish regulatory authority over a wider slice of the market. Coinbase CEO Brian Armstrong said the SEC made this recommendation before taking legal action against the Nasdaq-listed company for not registering as a broker last month. The SEC’s lawsuit identified 13 cryptocurrencies, mostly under-traded on Coinbase, as securities. He also claimed that by offering them to customers, the exchange fell under the jurisdiction of the regulator.
But Coinbase’s previous request to delist every single one of its 200+ tokens, with the exception of Bitcoin, shows that the SEC, under chairman Gary Gensler, is pushing for broader mandate over the crypto industry. “They got back to us and said we believe every asset other than Bitcoin is a security,” Armstrong said. We said, ‘How do you come to this conclusion? Because that’s not our interpretation of the law. And they said, ‘We’re not going to explain that to you. You have to delist every asset other than Bitcoin’, they said. He made his statement. According to Brian Armstrong, this demand would mean the ‘end of the crypto industry in the US’.
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