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Coinbase claims to have fixed the issue that prevented trades from American bank accounts

by Will
October 3, 2022
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2 years ago

The cryptocurrency exchange Coinbase Global Inc. claimed that on Sunday night, technical issues that had kept users of U.S. bank accounts from making withdrawals or payments for the majority of the day were resolved.

We’ve fully resolved this issue and ACH transfers are now processing. We apologize for the inconvenience. https://t.co/dezVgcaagm
— Coinbase Support (@CoinbaseSupport) October 2, 2022

The Automated Clearing House Network, or ACH, is a system that electronically moves money between bank accounts in the United States.

According to a previous Tweet from Coinbase, “technical issues creating ACH transfers” were to blame for the disruptions experienced by owners of U.S. bank accounts.

We're currently experiencing technical issues creating ACH transfers. Rest assured, your funds are safe. Our team will provide an update here and on our Status Page when full functionality resumes: https://t.co/a3pl4WiDhZ
— Coinbase Support (@CoinbaseSupport) October 2, 2022

According to the business, user funds were secure and all users could still make direct purchases using a debit card or PayPal account.

Following a significant outage on the Solana network on Friday, Coinbase also announced that trading in Solana tokens on its platform had resumed as of Sunday night.

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Will

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My Name is Will. I'm a News/Content Writer and SEO Expert. I have good way of using good English construction to write credible articles ranging from News Articles to Creative Writing all around Cryptocurrency Industry. I have actively worked and still working with Crypto startups and have maintained credibility in the Cryptocurrency space.