Coinbase (NASDAQ: COIN) stock continues to drop after the crypto exchange went through a major service disruption.
The outage, which lasted more than six hours, disrupted several core platform functions, leaving users unable to access trading services, manage their portfolios, and complete other account-related operations.
Expectedly, the disruption has drawn significant attention across the digital asset sector, given Coinbase’s reputation as a leading crypto exchange platform.
An early Reuters report implied the problem could be related to similar issues with Amazon’s (NASDAQ: AMZN) data center zones in Virginia.
At press time, COIN shares were down 2.53% on the daily chart and an additional 2.57% in pre-market on May 8, where they sat at $188.
24-hour COIN stock price. Source: Google Finance
Coinbase hit by outages following mixed quarterly reports
The outage also came shortly after Coinbase reported a first-quarter net loss of $394.1 million, compared to a prof
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