Coinbase Trading Services Disrupted Amid AWS Outage

Coinbase, the largest crypto exchange in the US, experienced a trading disruption on May 8 due to an AWS outage at one of its data centers in Northern Virginia.

The outage affected Coinbase's ability to process transactions, causing customers to experience degraded performance. However, the company ensured that customer funds were safe throughout the incident.

Coinbase had released its Q1 earnings report just hours before the trading disruption. The report showed a revenue of $1.41 billion for Q1, although it fell short of analyst expectations. The company attributed the shortfall to $482 million in unrealized losses on crypto assets held for investment, primarily due to Bitcoin's decline during the quarter.