Coinbase says $0 balance error is 'resolved' and platform is 'recovering'

By Weston Blasi

The error for some Coinbase users comes during a massive crypto rally that has bitcoin's price trading at nearly $63,000

Coinbase (COIN) has resolved issues that led some of its users' accounts to appear to have a $0 balance, the company announced, although a small number of customers may still experience issues.

CEO Brian Armstrong said that "a large amount of traffic" to its platforms led to error messages for some users' account balances, and added its "apps are now recovering."

The Coinbases Support X account stated at the time of the incident that there might be errors in buying and selling on the platform due to this, but reiterated that users' assets were safe.

"This incident has been resolved," Coinbase wrote on its status page.

The error for some users on the crypto exchange comes during a massive cryptocurrency rally. Bitcoin's price is trading at nearly $63,000 on Thursday, its highest level since 2021.

Shares of Coinbase Global Inc. decreased 0.38% during Thursday's trading, and are up 214.08% over the last 12 months.

Read on: I lost $240,000 after a 'friend' I met on Instagram encouraged me to invest in crypto. Can I write off my loss?

-Weston Blasi

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02-29-24 1118ET

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