Coinbase system crashes and famed GameStop analyst Roaring Kitty is back

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Last Updated on 15 May 2024 by CryptoTips.eu

Coinbase, still the largest crypto platform in the United States, saw a lot of bad PR online when their platform crashed on Tuesday (for four hours) and afterward several users reported that they could not access their funds. Several American influencers compared the situation to what happened at FTX back in 2022.

After years of absence, legendary analyst Roaring Kitty returns to X. Many hope he will recommend some stocks or even talk about Bitcoin.

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System crash

During the crypto bull run of 2020 and 2021, system crashes at Coinbase, FTX and Binance were very common. Users screamed bloody murder every time they wanted to sell Bitcoin or Ether reaching a new top but were unable to do so because the servers of major crypto platforms could not handle the volume during those short price surges.

During Asian trading hours on Tuesday, May 14, Coinbase experienced an outage that many crypto traders flagged as suspicious and annoying. The jokes about Coinbaseā€™s outage were everywhere and some even compared the situation to what happened in the last trading days of FTX in November 2022. Back then, Sam Bankman-Fried’s platform went offline after several days of crashes and restarts in order to try and stop the withdrawal of customer funds (to no avail).

As Coinbase now partners with BlackRock (for their Bitcoin ETF, among other things) and is listed as an American stock, no one expects Coinbase to go bankrupt anytime soon (I personally also believe that Brian Armstrong is more trustworthy than SBF ever was, but you of course never know).

GameStop

Roaring Kitty (the man responsible for the epic Gamestop Short Squeeze – played by Paul Dano in the film Dumb Money) is back on X after years of absence.

Hopefully he has something nice to say about Bitcoin soon. Right now it’s mostly memes and videos. Quite a funny distraction during these ā€˜boringā€™ Bitcoin days of course.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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