TLDR Tech / Fintech
Coinbase resumes trading after seven-hour exchange outage
Coinbase restored trading after a nearly seven-hour outage caused by overheating at an AWS data center in Northern Virginia, which disrupted systems used for trading, transfers, and normal exchange operations. The incident capped a difficult week for Coinbase, following 14% workforce cuts, a 31% revenue decline, and a $394 million quarterly net loss as the company shifts resources toward AI-related automation.
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