2024

Bitcoin

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Coinbase users around the globe reported $0 crypto balances once again as Bitcoin rallied over $67,000 for the first time in over two years.&nbsp; 
As Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) set a 28-month high on Mar. 4, crypto exchange Coinbase suffered its second outage amid euphoria in the cryptocurrency market in less than a week. The crypto fear and greed index sat at 82, indicating strong interest from users and traders.&nbsp; 
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 <img loading="lazy" decoding="async" width="1024" height="734" src="https://crypto.news/app/uploads/2024/03/Screenshot-304-1024x734.png" alt="Coinbase" class="wp-image-14255362">
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 Crypto fear and greed index | Source: alternative.me
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During the first <a href="https://crypto.news/coinbase-crash-bitcoin-zeroes/" target="_blank" rel="noreferrer noopener">Coinbase outage</a> of the year on Feb. 28, CEO Brian Armstrong said the platform was prepared to handle 10 times the usual traffic, but the exchange saw more usage than planned as Bitcoin rallied to the upside.&nbsp; 
The outage suggests that even greater platform activity triggered the <a href="https://crypto.news/bitcoin-coinbase-crypto-stocks-2024/">Coinbase</a> downtime, as Bitcoin <a href="https://crypto.news/bitcoin-67000-record-market-cap/">surged</a> up to 6% in 24 hours. The platform assured users that funds were safe and that engineers were working to restore normal operations.&nbsp; 
 You might also like: <a href="https://crypto.news/coinbase-crash-bitcoin-zeroes/"> Coinbase crashes during Bitcoin rally as users see zeroes </a> 
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 We are aware some users may experience increased latency across Coinbase.com and a few users may see intermittent zero balance. Rest assured, your funds are safe. Our team is investigating this issue and will provide an update. Trading is not impacted at this time. <cite><a href="https://twitter.com/CoinbaseSupport/status/1764722724356661341" target="_blank" rel="noreferrer noopener">Coinbase support</a></cite>
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Users were unhappy with the situation as it disrupted regular activities and implied that America’s biggest crypto exchange might be unready for heavy traffic during the bull cycle. 
Social media posts showed that customers were less worried about seeing zero account balances and more concerned about a giant exchange temporarily collapsing amid increased transactions due to market price increments. 
This is a developing story.&nbsp; 
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 It's a head-scratcher as to why greater investments haven't been made in server capacity. Your customers, investors, and crypto broadly all deserve better. When we go into price discovery on Bitcoin, and retail actually floods back, the volume could be many orders of magnitude…— AllGreenCandles (@AllGreenCandles) <a href="https://twitter.com/AllGreenCandles/status/1764729320281415987?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 4, 2024</a>
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 Read more: <a href="https://crypto.news/u-s-court-decides-against-former-coinbase-employee-calls-some-crypto-assets-securities/"> U.S. court decides against former Coinbase employee, calls some crypto assets securities </a>

Coinbase suffers another outage as Bitcoin breaks $67k

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