Coinbase Pro runs into trouble with BTC/USD, halts trading services

10 Aug, 2018
by Richard Allen
News
Coinbase Pro runs into trouble with BTC/USD, halts trading services

San Francisco-headquartered cryptocurrency exchange Coinbase announced earlier today that Coinbase Pro has run into an issue in the BTC/USD order book, resulting in the trading pair being unavailable.

Coinbase Pro users were understandably concerned over the announcement as there was the risk that customers might lose some of their funds. Coinbase managed to identify the problem and restored trading on BTC/USD by clearing all open borders.

The exchange then announced they would remain in cancel-only mode while the problem was being investigated. About an hour later Coinbase Pro explained that the BTC/USD order book did not have sufficient liquidity to enter limit-only mode. As such, they cleared the book and were scheduled to reopen the book at 9:00am PT (4:00pm UTC).

Some users expressed their frustration on Twitter:

 This is INSANE! You need to be covering your customers for this, I can't even imagine how many people were mid-trade. Now another 8.5 hours delay? Insane and totally unprofessional.

Follow Chepicap now on Twitter, Telegram and Facebook!

Read more about: Coinbase

Poll

What are your thoughts on the Coinbase situation?

(6 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage