Coinbase undergoing major issues

Website of Coinbase digital asset platform has been down for some time and the users are still not able to log in and make transactions
29 November 2017   1333

Coinbase, a digital asset broker headquartered in San Francisco, California, is currently undergoing performance issues which was noticed by a huge amount of customers using the platform, who were not able to use the website, to log in to the system or to make transations.

This is the message which was displayed to the users while they were trying to log in to the website:

Coinbase system errorCoinbase website error

The company published an update on Coinbase Status page stating that they are investigating performance issues on and are working to resolve them and promising to update the users of any news concerning the issues.

Coinbase status towards performance issuesCoinbase Status message towards performance issues

Half an hour later another message was published on Coinbase Status page, where it was claimed that the reason for performance issues was identified and the team is working on fixing the problem.

Coinbase service unavailable screenshotCoinbase service unavailable screenshot

In the meantime, Coinbase website still does not work showing the message that service is unavailable and is being maintained at the moment, and the users remain worried about the safety of their cryptoassets.

Coinbase to Issue New Statement

As reported, company says it was wrong about SEC approval of acquisitions of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC
18 July 2018   169

Vice President of Communications of Coinbase Rachel Horwitz denied the information that the company received approval from the Securities and Exchange Commission of the United States for a deal to buy brokerage companies. This is reported by Bloomberg.

It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process. The SEC’s approval is not required for the change of control application. Coinbase has discussed aspects of its proposed operations, including the acquisition of the Keystone Entity, on an informal basis with several members of SEC staff.

Rachel Horwitz

Vice President of Communications, Coinbase

On Monday, a spokesman for Coinbase said that the company received permission from the SEC and the Agency for Regulation of Financial Institutions (FINRA) to purchase Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.

However, despite the refutation from Rachel Horwitz, Coinbase still intends to obtain a license to carry out brokerage activities.