Coinbase Warns of Possible Weekend Disruptions
The leading U.S.-based cryptocurrency exchange has alerted its users to potential service disruptions this weekend. The company has been in the news recently following staff reductions and the implementation of various platform adjustments and other developments.
System Upgrade Planned
Coinbase has scheduled a system upgrade for Saturday, May 23rd, with an estimated duration of approximately 30 minutes. The company stated that trading will not be affected during this time, although order status updates across all markets may be delayed. Coinbase has pledged to provide updates as the maintenance progresses.
These types of upgrades are considered standard practice and typically do not raise significant concerns. In October of last year, Coinbase experienced a temporary outage for a similar reason, with no major complications reported.
Previous Disruptions
Earlier this month, some Coinbase users encountered difficulties completing transactions, while others experienced slower service speeds due to an overheating issue with Amazon Web Services (AWS). The exchange quickly identified the problem and worked to restore trading across its markets.
Some users noted on social media that the outage occurred shortly after Coinbase announced a 14% reduction in its global workforce. CEO Brian Armstrong cited ongoing market volatility and the rapid advancement of Artificial Intelligence (AI) as the primary reasons for the decision.
Recent Developments
In addition to these developments, Coinbase recently made headlines after becoming the official treasury deployer of USDC under Hyperliquid’s Aligned Quote Asset (AQA) framework. In this role, the exchange will manage USDC liquidity directly for the protocol, supporting its on-chain financial operations. This collaboration also positions Coinbase as a key player in the expanding decentralized derivatives ecosystem.
Hyperliquid revealed that both Coinbase and Circle have agreed to stake HYPE tokens to support the activation of AQAv2, the next upgrade to the Aligned Quote Asset (AQA) on the decentralized exchange.
Coinbase has also delisted several trading pairs. Last week, it removed six non-USD trading pairs, including ICP/USDT and ICP/GBP. This was followed by a 10% price decline for Internet Computer, dropping to just under $3. The asset has since failed to recover, and is currently trading near $2.50.
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