Binance, Coinbase Crypto Trading Platforms Disrupted as $BTC, $ETH Fall

Binance, the world’s biggest cryptocurrency exchange, temporarily disabled Ethereum withdrawals citing network congestion, while Coinbase said it’s investigating “intermittent downtime” on its platform.

The two firms are suffering disruptions as cryptocurrencies tumble. Bitcoin plunged almost 30% to $31,000, wiping out more than $500 billion in value from the token’s peak market value.

Coinbase said there are partial outages with its website, mobile app and the API.

Crypto exchanges frequently suffered outages and problems during Bitcoin’s historic rally, often leaving investors unable to buy or sell the digital currency for hours at a time.

Last year, Coinbase Chief Executive Officer Brian Armstrong tweeted that the company would be adding capacity — servers and customer support — to deal with increased traffic.

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