Coinbase outage linked to AWS failure

Coinbase experienced a multi-hour trading outage that temporarily halted customer transactions, attributing the disruption to a failure in Amazon Web Services (AWS) across multiple U.S. East availability zones. The crypto exchange's systems, designed to withstand single-zone outages, were overwhelmed by the widespread AWS failures, leading to a brief "cancel only" trading mode before full service was restored. This incident adds to recent criticisms regarding Coinbase's technical resilience, following weaker-than-expected first-quarter results, a share price drop, and a significant workforce reduction.