Posted 2/28/2024, 8:00:04 PM
Coinbase Crash Resurfaces Amid Bitcoin Price Rally and Surge in Crypto Trading
- Bitcoin's price recently surged to around $60,000, close to its all-time high, leading to increased demand and traffic on the Coinbase crypto trading app
- Many Coinbase users reported seeing a zero balance in their accounts today despite owning crypto assets
- Coinbase confirmed issues on its platform related to heightened traffic, saying "your assets are safe" while it investigates
- The problems hit amid Bitcoin's huge price rally this month, renewed interest from casual crypto investors, contributing to Coinbase's crash
- Coinbase said it was "beginning to see improvement" though some users may still face errors and delays due to ongoing high traffic