US Crypto Exchanges Experience Technical Issues as Fed Faces Outage
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The Federal Reserve is facing an "operational error" that already disrupted the functioning of several US cryptocurrency exchanges. According to Reuters, the outage already affected check clearing and Fedwire, which handles trillions dollars on a daily basis.

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The first crashes have been reported on February 24, 2021 2:52 PM Eastern Time. The watchdog said in an email statement its error resulted in disruption of service in several business lines.

"We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations," the Fed added.

The technical failures led to USD ACH transfers and FedWire delays on cryptocurrency exchange such as Gemini, Coinbase, and Kraken.

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