Major AWS Outage Rocking Crypto World, Is Coinbase Affected?

Major AWS Outage Rocking Crypto World, Is Coinbase Affected?


Key Notes

  • Amazon Web Services suffered a congestion in its network.
  • As the powerhouse of many websites, this incident has affected Coinbase and several other top companies.
  • Changpeng Zhao is urging Coinbase to list more BNB projects amid growing spotlight.

A sudden disruption of Amazon Web Services (AWS) has left several big platforms and websites like Coinbase in confusion. Airlines, crypto platforms, banks, and even social media platforms were negatively impacted by the outage. AWS later came out to say it is now “seeing significant signs of recovery” and most requests should now be succeeding.

Coinbase Acknowledges Impact of AWS Outage on Users

As of Oct. 20, Amazon Web Services (AWS) suffered an outage that led to disruption on several companies’ websites and apps.


As the backbone of millions of websites and apps, its impact on their operations was quite severe. A few of these companies have confirmed the extent of damage that the outage has done to their business. Among this group is Coinbase Global Inc.

Coinbase Support took to X, acknowledging that a few of its customers have faced difficulties accessing their platform due to an AWS outage.

Customers of the cryptocurrency exchange were assured of the safety of their funds. In addition, the post noted that the Coinbase team has swung into action and is currently working on the issue. They promised to provide updates as they go.

At the same time, Amazon has claimed:

“We are seeing significant signs of recovery. Most requests should now be succeeding. We continue to work through a backlog of queued requests. We will continue to provide additional information.”

Coinbase Achieves Milestones Beyond AWS Outage

Before the AWS outage, Coinbase had a number of milestones as it pushed the boundaries of its business.

Only a few days ago, it announced a fresh investment in CoinDCX, one of India’s biggest cryptocurrency exchanges. This is part of its expansion plan for India and the Middle East. Coinbase’s goal is to strengthen trust and expand access to crypto services.

At the beginning of October, Coinbase staking services went live in New York. This meant an expansion of residents’ access to rewards on digital assets like Ethereum

ETH
$4 026



24h volatility:
1.1%


Market cap:
$485.88 B



Vol. 24h:
$32.95 B



, Solana

SOL
$191.3



24h volatility:
0.3%


Market cap:
$104.55 B



Vol. 24h:
$5.52 B



, and others, without needing technical know-how. Notably, this made New York the 46th US state where Coinbase offers staking services.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Coinbase News, Cryptocurrency News, News

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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