Coinbase — the largest Bitcoin market in the U.S. — has disabled all buying and selling as the digital currency Bitcoin dramatically loses value.
At 11:11 a.m. EST, Coinbase posted that it had temporarally disabled trading:
About 25 minutes later, at 11:35 a.m. EST, the company said it's still monitoring the problem:
This "high traffic" is largely in reference to activity in the Bitcoin market. Bitcoin is the world's highest-valued currency, as one Bitcoin hit nearly $20,000 this December.
But it's lost about a quarter of its value in the last 24 hours and the fickle currency is now trading at around $12,874 — and some exchanges around $11,000. Read more...
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