Coinbase, the most popular site for cryptocurrency transactions in the U.S., has suspended all trading activity today amid a crash in cryptocurrency prices, TechCrunch reported.
A statement on the company’s website this morning read, “Due to today’s high traffic, buys and sells may be temporarily offline. We’re working on restoring full availability as soon as possible.”
That follows an earlier statement from the company that all buys and sells were temporarily disabled.
The latest suspension follows a crash in cryptocurrency pricing. That drop — which at one point erased more than $4,000 from the value of Bitcoin (EXANTE: Bitcoin) — was the biggest loss of value the cryptocurrency had seen this year.