Summary
TLDR: Coinbase experienced technical issues during a surge in Bitcoin price, leading to errors in transactions. This is a common occurrence when Bitcoin rallies. Other exchanges like Kraken and Binance also reported incidents, but limited to specific networks or pairings. Coinbase stock price also saw fluctuations during this time.
Key Points
1. Coinbase experienced technical issues during the peak and subsequent collapse of Bitcoin’s price, impacting some users’ transactions.
2. The surge in Bitcoin’s price triggered liquidations and sell-offs, leading to a flash crash on Coinbase’s platform.
3. Despite Coinbase’s outage, other exchanges like Kraken and Binance reported limited incidents, highlighting the strain on crypto infrastructure during peak market activity.