The leading US-based cryptocurrency exchange has warned users of potential service disruptions this weekend.
The company has been in the spotlight recently after announcing staff reductions and implementing several platform changes and other operational updates.
Attention This Saturday
Coinbase has scheduled a system upgrade for Saturday, May 23, expected to last about half an hour. The team noted that trading itself should not be affected, but order status updates across all markets may be delayed during the maintenance. The company said it will post updates as the work progresses.
Such upgrades are routine and typically not a cause for concern. For example, last October Coinbase temporarily went offline for scheduled maintenance without any major issues reported.
Earlier this month the exchange also experienced a disruption when some users were unable to complete transactions and others reported slower service. That outage was traced to an AWS overheating incident; Coinbase quickly identified the issue and worked to restore full market functionality.
Some observers on social media pointed out that the outage occurred soon after Coinbase disclosed a 14% reduction in its global workforce. CEO Brian Armstrong attributed the layoffs to ongoing market volatility and the rapid pace of developments in artificial intelligence (AI).
Further Developments
In other news, Coinbase was named the official treasury deployer of USDC for Hyperliquid’s Aligned Quote Asset (AQA) framework.
In this role, the exchange will manage USDC liquidity for the protocol, helping to strengthen on-chain financial operations. This collaboration positions Coinbase as an important participant in the expanding decentralized derivatives ecosystem.
Hyperliquid also stated that both Coinbase and Circle have agreed to stake HYPE tokens to support the launch of AQAv2, the next upgrade to the Aligned Quote Asset on the decentralized exchange.
Coinbase has undertaken delisting actions as well. Last week the platform removed six non-USD trading pairs, including ICP/USDT and ICP/GBP. Following the delistings, Internet Computer’s price fell roughly 10% to just under $3, and the token has since continued to decline, trading near $2.50 at present.