Coinbase (COIN) suffered a multi-hour disruption to crypto trading on Thursday, which the Nasdaq-listed exchange attributed to an outage at Amazon Web Services. The incident drew criticism as Coinbase continues to face declining trading activity, quarterly losses, and staff layoffs.
The platform said users were unable to transact after failures hit multiple AWS availability zones in the U.S. Eastern Region. Trading was restored after markets were briefly placed into a “cancel only” mode.
“This primary issue is now fully resolved,” Coinbase said, adding its team would investigate the incident.
The disruption drew criticism from software engineer Gergely Orosz, formerly at Uber and Skype.
Coinbase shares fell more than 5% in after-hours trading after reporting weaker-than-expected Q1 2026 results. The company posted a loss of $1.49 per share, compared with analyst expectations for a $0.27 profit. Revenue came in at $1.41 billion, below estimates of $1.52 billion.
This follows a May 5 decision to slash its workforce by 14%-roughly 660 employees-citing negative market conditions and AI challenges.