Bitcoin’s price is collapsing and people can’t trade because Two big exchanges have crashed caption Gemini, a cryptocurrency exchange possessed by Cameron and Tyler Winklevoss, crashed on Wednesday.

Bitcoin's price is collapsing and people can't trade because 2 big exchanges have crashed caption Gemini, a cryptocurrency exchange owned by Cameron and Tyler Winklevoss, crashed on Wednesday.

caption Gemini, a cryptocurrency exchange wielded by Cameron and Tyler Winklevoss, crashed on Wednesday. source Thomson Reuters

  • Two of the largest cryptocurrency exchanges, Coinbase and Gemini, crashed on Wednesday morning, making it unlikely for many users to buy or sell digital currency.
  • Coinbase said it spotted “all-time-high traffic” that contributed to system outages.
  • Bitcoin fell to about $9,000 on Wednesday after surging earlier to overheen $11,000.

Bitcoin on Wednesday dropped to about $9,200, from an all-time high of about $11,400, after many users found themselves locked out of two of the largest cryptocurrency exchanges ter the US.

caption Coinbase demonstrated this message to users just before noon P.T. on Wednesday. source Business Insider/Screenshot

The digital exchanges Coinbase and Gemini crashed on Wednesday after bitcoin prices surged above $11,000 vanaf coin early ter the morning.

People also reported being locked out of accounts on GDAX, Coinbase’s professional trading podium, and Bitstamp, a bitcoin exchange based ter Luxembourg.

Users of the digital exchanges witnessed slowed voorstelling on the websites, and, te some cases, couldn’t loom into their accounts.

Bitcoin trading wasgoed fully restored on both exchanges by Thursday morning, tho’ both sites reported ongoing maintance.

Coinbase, which says it has exchanged overheen $50 billion ter cryptocurrency since its launch te 2012, posted about a “partial system outage” early Wednesday, tho’ many users found themselves locked out of their accounts by the afternoon.

Dave Farmer, the director of business operations at Coinbase, said the company experienced “all-time-high traffic” early Wednesday, causing some users to practice slowness.

“Should be fully resolved ter the next duo of hours,” Farmer said te ready remarks.

Gemini, the exchange commenced by the Winklevoss twins te 2018, showcased many users a “504 gateway time-out” message, which means its servers were not responding to requests. The company posted on its status pagina: “Systems are presently experiencing degraded spectacle.”

Gemini underwent maintenance most of Wednesday, tho’ users regained access by the evening.

caption Gemini displayed this error screen to users for most of Wednesday. source Gemini

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