The leading US-based cryptocurrency exchange warned its users that they may experience certain disruptions this weekend.
The company has recently drawn significant attention after cutting staff and introducing a series of platform adjustments and other developments.
Attention This Saturday
Coinbase has scheduled a system upgrade for Saturday (May 23), which is estimated to last approximately half an hour. The team explained that during this time, trading will not be impacted, while order status updates across all markets may be delayed. The company promised to provide updates as the maintenance progresses.
These types of upgrades are fairly standard and typically not a cause for alarm. In October last year, for instance, Coinbase went temporarily offline due to a similar reason, and there were no reports of major complications.
Another disruption was witnessed earlier this month. Certain Coinbase users found themselves unable to complete transactions, while others experienced degraded service speeds due to an AWS overheating issue. The exchange swiftly diagnosed the problem and began working to “re-enable” trading across its markets.
Some users noted on social media that the outage happened shortly after Coinvase disclosed it was cutting its global workforce by 14%. CEO Brian Armstrong cited ongoing market volatility and the rapid pace of Artificial Intelligence (AI) as the main reasons for the decision.
Further Developments
Apart from the aforementioned news, Coinbase made the headlines after becoming the official treasury deployer of USDC under Hyperliquid’s Aligned Quote Asset (AQA) framework.
Under this role, the exchange will handle USDC liquidity directly for the protocol, helping strengthen its on-chain financial operations. The collaboration also positions Coinbase as a key contributor to the growing decentralized derivatives ecosystem.
For its part, Hyperliquid revealed that both Coinbase and Circle have agreed to stake HYPE tokens to support the activation of AQAv2 (the next upgrade to the Aligned Quote Asset (AQA) on the decentralized exchange).
Coinbase has also carried out some delisting efforts. Last week, it scrapped six non-USD trading pairs, including ICP/USDT and ICP/GBP. This was followed by a 10% price decline for Internet Computer to just under $3. The asset failed to rebound and extended its losses over the next few days, currently hovering near $2.50.
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