Advertisement
Canada markets open in 3 hours 15 minutes

  • S&P/TSX

    21,885.38
    +11.66 (+0.05%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CAD/USD

    0.7323
    -0.0001 (-0.01%)
     

  • CRUDE OIL

    83.98
    +0.41 (+0.49%)
     

  • Bitcoin CAD

    88,015.58
    +904.08 (+1.04%)
     

  • CMC Crypto 200

    1,391.08
    -5.46 (-0.39%)
     

  • GOLD FUTURES

    2,361.90
    +19.40 (+0.83%)
     

  • RUSSELL 2000

    1,981.12
    -14.31 (-0.72%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • NASDAQ futures

    17,728.25
    +160.75 (+0.92%)
     

  • VOLATILITY

    15.64
    +0.27 (+1.76%)
     

  • FTSE

    8,116.20
    +37.34 (+0.46%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • CAD/EUR

    0.6819
    -0.0002 (-0.03%)
     

Crypto exchange Coinbase hit by connection, latency problems as bitcoin plummets

By Tom Wilson
·1 min read
FILE PHOTO: Illumination of the stock graph is seen on the representations of virtual currency Bitcoin in this picture illustration taken

By Tom Wilson

LONDON (Reuters) - Cryptocurrency exchange Coinbase said on Thursday its retail and professional-focused platforms were hit by tech problems, with users reporting difficulty trading as bitcoin plunged towards its biggest one-day drop since September.

California-based Coinbase said on its website at 14:14 GMT it was investigating connectivity problems, adding at 14:42 GMT that it had identified the problem and implemented a solution.

In a separate post at 15:21 GMT on its Coinbase Pro site it said "increased latencies impacting order entry and settlement" for its Coinbase Pro service, adding it was investigating the problem.

ADVERTISEMENT

A spokesman for Coinbase, one of the biggest cryptocurrency exchanges, declined to comment.

Coinbase users on Twitter reported problems trading.

One Coinbase Pro user told Reuters by message: "The outage prevented me from submitting a buy limit order which would've been executed as the limit price was met. At this time the order finally went through but I missed the price for now."

Bitcoin, the world's biggest cryptocurrency, slumped as much as 13% on Thursday to its lowest since Nov. 16., slamming the brakes on its red-hot rally and sparking a sell-off of smaller coins.

It was last down 9% at $16,904 and on course for its biggest one-day drop since Sept 3. The move represents a sharp correction from its three-year high of its near-record $19,521 hit on Wednesday.

(Reporting by Tom Wilson; Editing by Tom Brown)