The crypto exchange quickly repaired the outage on Feb. 28 with no further disruption to users.
Investment research firm Citron, founded by prominent Wall Street short-seller Andrew Left, has called for the short sale of Coinbase (COIN) stock after the exchange's temporary outage on Feb. 28.
Institutional investors frequently long one asset and short another as a hedging move, betting that the long asset will increase in value and the underlying short asset will lose value in a divergence trade. On Feb. 28, Coinbase, along with other crypto exchanges, suffered a temporary outage as a result of a Bitcoin (BTC) flash crash that saw a 10% decrease in the price of the digital asset before paring losses.
During the Coinbase outage, users reported zero account balances and errors in buying and selling. "All customer account balance display issues have been restored on http://Coinbase.com. Thank you to all of our customers for your patience today," the exchange wrote in a follow-up message on Feb. 29.
