Coinbase: Tariff Fears Overshadow The Subscription Hidden Jewels (Rating Upgrade)

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Coinbase (NASDAQ:COIN) shares slid on Monday after the company's platform had a brief outage.

What Happened: Coinbase's platform went down at around 11:45 a.m. ET and was back up and running at around 12:15 p.m. ET. The outage affected users' ability to trade cryptocurrencies on the platform.

"We apologize for the inconvenience caused by a platform outage earlier today. Our engineers quickly identified and resolved the issue, and all systems are now back online," Coinbase said in a statement.

Coinbase did not disclose the cause of the outage but said it was investigating the matter further.

"We take pride in delivering a best-in-class experience to our users and we're committed to minimizing any downtime," the company added.

Coinbase is a major cryptocurrency exchange in the U.S., listing over 100 digital assets that can be bought, sold and stored on its platform. The company has seen increased interest this year with the rise of Bitcoin USD (BTC-USD) and other cryptocurrencies.

Coinbase is down 57.86% year-to-degree and trades at $70.07 at the time of writing.

Related Link: Bitcoin Price Today: BTC Edges Down As Fed Minutes Show Officials Still Concerned About Inflation

Photo via Wikimedia Commons

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