The clients of one of the largest crypto exchanges will experience some issues later this week. In this article, we will analyze the cause of the disruption and provide additional key details.
Coinbase Problems During the Weekend?
The leading US-based cryptocurrency exchange, which has over 100 million users, announced on X that it will be temporarily offline on October 25, at about 7 AM PT, due to a scheduled systems upgrade.
“All trading (except perpetuals futures on INTX) across Coinbase.com (Simple and Advanced Trade), Coinbase Exchange, and Coinbase Prime will be unavailable. All transfers will be unavailable on Coinbase Exchange, and any in-flight transfers will be delayed,” the disclosure reads.
The company’s team advised people to follow its official account on the social media platform for updates on the matter and promised to post reminders and details on a designated website.
Some users commenting on the post expressed frustration that the upgrade will occur during the weekend, while others complained that such outages happen pretty regularly.
It is important to note that the biggest crypto exchange, Binance, also experienced a severe disruption recently. During the market crash on October 10, multiple users reported errors and technical glitches, while some were unable to place orders for some time.
Shortly after, the company established a multi-million-dollar fund to reimburse affected clients, blaming sharp market fluctuations for the operational hurdles.
Coinbase’s Recent Listings
Earlier this month, the exchange placed Binance Coin (BNB) on its roadmap. The section consists of cryptocurrencies, which may be officially listed if they meet certain criteria. The move was somewhat surprising because BNB is the native token of the biggest competitor, Binance.
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Despite the controversy, Coinbase added support for the asset on October 22 and revealed that it is available on the company’s website, its application, and Coinbase Advanced.
“The opening of our BNB-USD trading pair will begin when liquidity conditions are met, in regions where trading is supported,” it stated.
Other cryptocurrencies recently listed by the exchange include aPriori (APR) and Meteora (MET), whereas trading for Freysa (FAI) and Moonwell (WELL) perpetual contracts was suspended.
