The leading US-based cryptocurrency exchange will perform scheduled maintenance on October 24 and will briefly restrict key services to support the process.
Some users thanked the company for the update, while others seemed frustrated by the upcoming disruption.
What Should Clients Know?
Coinbase said its Derivatives section will be offline for about nine hours this Saturday. “During the maintenance, trading futures and perpetual futures on Coinbase Financial Markets will be unavailable. Account access will remain unchanged,” the company explained.
It urged people to monitor its official X account for updates on the matter and pledged to post the latest information on its derivatives status page.
X user TriDung.sol appeared dissatisfied that such services would be temporarily suspended over the weekend for such an extended period. Another member of the social media platform also seemed unhappy, saying:
“Better hope price doesn’t move to where people get rekt or miss an epic trade. That would make a lot of disgruntled users. Also, you should enable an option for multiple running trades so you can hold a short and a long at the same time on the same asset.”
Beyond announcing upcoming maintenance, Coinbase has recently decided to stop supporting some cryptocurrencies. Several hours ago, it said it will delist Ampleforth Governance Token (FORTH) on November 23.
“FORTH funds will remain accessible, and withdrawals will continue to be supported,” it added.
The affected digital asset fell about 15% after the disclosure. This is a fairly normal reaction, since withdrawing backing from Coinbase reduces liquidity, diminishes availability, and harms its reputation.
Coinbase’s Global Issues
The exchange has recently encountered regulatory headwinds in certain jurisdictions. Earlier this month, Taiwan reportedly blocked access to Coinbase ahead of the country’s elections scheduled for November 28. A local court authorized the restrictions after officials warned that the platform could be used for election-related betting, which is prohibited in Taiwan.
Coinbase stated it was aware that some local users could not access its website and said it would investigate the matter. The other platform that the domestic authorities blocked for the same reason is Kalshi.
Meanwhile, Coinbase has also faced challenges in Kazakhstan. Several days ago, a court backed the Astana Financial Services Authority’s (AIFC) efforts to limit access to six unlicensed crypto entities on local soil. Those include Coinbase, Huobi Global (HTX), BitMart, Bitcoin.com, BingX, and WEEX. Under the order, these platforms are not allowed to provide, offer, or advertise crypto services in the country.
The post Coinbase Will Temporarily Stop Certain Services This Weekend: Details Inside appeared first on CryptoPotato.
