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(Reuters) – Major cryptocurrency exchanges experienced technical problems Monday as trading volumes soared after billionaire Elon Musk’s Tesla Inc revealed he bought $ 1.5 billion worth of bitcoin and would soon accept it as a form of payment.
The move by the electric vehicle company marked the latest step in mainstream acceptance of bitcoin, raising expectations that other companies will soon join asset manager BlackRock Inc and companies by 10%. Square payment and PayPal to support cryptocurrency.
San Francisco-based cryptocurrency exchange Kraken said it temporarily turned off listings after heavy traffic caused connectivity issues with its website, while peers Gemini and Binance said that their systems were currently experiencing difficulties.
Coinbase, founded in 2012 and among the world’s best-known cryptocurrency platforms, said on its website that no issues were reported on Monday.
However, digital currency news site CoinDesk said the exchange was struggling. bit.ly/2LwEh4F
“Our platform is fully operational and has been throughout recent trading surges,” a Coinbase spokesperson told Reuters.
Reporting by Noor Zainab Hussain in Bengaluru and additional reporting by Niket Nishant and Sohini Podder; Editing by Aditya Soni
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