Share this article
Top Crypto Exchanges Experience Difficulties as Tesla News Prompts Trading Frenzy
Binance, Gemini and Kraken are all having technical difficulties under heavy trading load.
Updated May 9, 2023, 3:15 a.m. Published Feb 8, 2021, 3:46 p.m.
Some of the biggest cryptocurrency exchanges were experiencing technical issues Monday after Tesla's (TSLA) announcement of a $1.5 billion bitcoin investment saw prices rally to new highs over $44,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- According to status pages and tweets for Binance, Gemini and Kraken the platforms have experienced difficulties on web and mobile following a surge in bandwidth demand from traders.
- Binance disabled withdrawals for a short period, but at press time the exchange said these are once more functional.
- The issues come amid a spike in market activity after Tesla said in a filing with the U.S. Securities and Exchange Commission that it has invested $1.5 billion in bitcoin and "may acquire and hold digital assets from time to time or long term."
- As the news quickly spread, bitcoin prices rose around 15% to a new all-time high of $44,801.87, per CoinDesk 20 data. At press time, the cryptocurrency was trading around $43,640.
CORRECTION (Feb. 8, 18:00 UTC): Corrects to remove Coinbase from list of affected exchanges. Coinbase reported no new issues today.
Read more: Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Pye Finance Raises $5M Seed Round Led by Variant and Coinbase Ventures
The platform aims to make locked Solana staking positions tradable via an onchain marketplace.
What to know:
- Pye Finance raised a $5 million seed round led by Variant and Coinbase Ventures, with participation from Solana Labs, Nascent and Gemini.
- The startup is building an onchain marketplace on Solana for time-locked staking positions that can be traded.
- Pye says the product targets Solana’s large pool of staked SOL, worth roughly $75 billion, and aims to give validators and stakers more flexibility over terms and reward flows.
Top Stories
