Coinbase resolves 70-minute outage as Bitcoin tops $85,000

Coinbase resolved a service outage on Sept. 21 that temporarily prevented some customers from buying, selling, trading, or viewing balances. The disruption affected the company's website, mobile app, and Advanced Trade platform. Coinbase first acknowledged the issue at 4:21 p.m. PDT, implemented a fix at 5:23 p.m., and declared the incident resolved at 5:31 p.m., making the downtime last roughly 70 minutes. The company stated that customer funds remained safe, though it did not disclose the technical cause or the number of affected users.

The interruption coincided with a major rally across digital assets. Bitcoin climbed past $85,000 for the first time in eight months and pushed above $86,000, logging its first weekly close above its 50-week moving average in roughly 45 weeks. US spot Bitcoin ETFs drew fresh inflows, while nearly $919 million in crypto short positions were liquidated across the market, including more than $557 million tied to Bitcoin.

Coinbase shares closed up 3.5% at $201.05 on Monday, with trading volume reaching approximately 14.4 million shares. As of June 30, Coinbase reported $246 billion in assets on its platform and held a 10.3% share of crypto trading volume under its methodology.