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Coinbase has Suspended All Buying and Selling of Bitcoin

Published: December 22, 2017
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Source: CNBC

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Coinbase, one of the biggest bitcoin marketplaces in the U.S., said Friday that trading was temporarily disabled amid a price rout in cryptocurrencies.

"Investigating - All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience," Coinbase said on its status website at 11:11 a.m., ET.

The company added in a subsequent statement that "due to today's high traffic, buys and sells may be temporarily offline. We're working on restoring full availability as soon as possible."

Bitcoin traded about 18 percent lower near $12,800 on Coinbase as of 11:39 a.m. ET. Earlier, the digital currency had fallen as low as $10,400, down 44 percent from its record high hit Sunday.

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