Coinbase stopped transactions in the United States for many hours to handle bank transfer concerns
Coinbase momentarily halted transactions for US consumers owing to a technical problem that prevented the business from completing withdrawals or deposits involving bank accounts. The problems began at about 7 a.m. ET, but the business did not repair the issue until 12:40 p.m. ET.
Coinbase said on Twitter at the time of the outage that customers’ assets are “secure,” before reporting three hours later that transactions had been resumed.
We’ve fully resolved this issue and ACH transfers are now processing. We apologize for the inconvenience. https://t.co/dezVgcaagm
Coinbase customers have also had to contend with delayed transactions with Solana during the last few days due to a network outage on Friday. This has been a difficult year for Coinbase and bitcoin in general, as the value of the cryptocurrency has plummeted. Coinbase allegedly cut off over 1,000 workers in June and is under investigation by the Securities and Exchange Commission.