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Coinbase Pro Delays Rollout of Tether Trading Citing API Issues
Coinbase has said it is continuing to work on the back end while it resolves the issue.
Door Sebastian Sinclair
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Coinbase has delayed the launch of trading on stablecoin tether until next month, citing an ongoing issue with its professional platform's application programming interface (API).
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- Coinbase announced Wednesday via a tweet it had decided to further delay the launch on Coinbase Pro until 6 p.m. PT (1:00 UTC) on May 3.
- It marks the second time in two days the company has decided to postpone USDT trading after announcing on Tuesday it intended to resume trading later that evening.
- While transfers remain available, the U.S. cryptocurrency trading platform said it was working to ensure it had resolved the issue on its core API's and exchange.
- "We are continuing to deploy services on the back end to scale and bolster the exchange and want to take this time to make the exchange more robust," said the exchange via a separate tweet.
- Coinbase decided to list USDT on April 23, much to the surprise of the crypto community, which at times has questioned whether the stablecoin is fully backed by U.S. dollars.
- Earlier in the month, Coinbase went public on the Nasdaq exchange through a direct listing under the ticker $COIN.
See also: A Bridge Called Tether
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Crypto stocks sink as spot volume plunges and bitcoin tumbles below $84,000
Bellwether crypto exchange Coinbase was lower for an 8th straight session on Thursday to its weakest level since May.
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