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Coinbase users experiencing buying and selling errors, zero account balances

Coinbase announced Wednesday that it is investigating reports of users experiencing errors or empty account balances when buying and selling on the exchange.

The cryptocurrency exchange has repeatedly reassured customers that assets on the site are “safe.”

File photo: In this illustration taken on March 4, 2022, a representation of a cryptocurrency can be seen in front of the Coinbase logo. (Reuters/Dado Ruvic/Illustration/File Photo/Reuters Photo)

CEO Brian Armstrong said the platform is “dealing with significant spikes in traffic” that are degrading site performance.

Coinbase provided an update at 2:29 p.m. ET, saying that while they are starting to see improvements in transactions, “some customers may still experience errors logging in, sending, receiving, and some payment methods.” There is a gender,” he said.

The issue occurred on the same day that Bitcoin exceeded $60,000 for the first time.

This is a developing story and will be updated.

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