Coinbase Hit by Technical Issue Amid Layoffs Announcement

Coinbase, a leading cryptocurrency exchange platform, faced a significant technical issue after announcing its plan to lay off around 14% of its workforce.

The outage occurred due to an Amazon Web Services (AWS) data centre service disruption in Northern Virginia. The AWS outage was reported on Thursday evening US time and affected several platforms, including Coinbase.

Coinbase CEO Brian Armstrong stated that the disruption was 'completely unacceptable', but assured that it did not affect the company's crypto exchange operations.