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Robinhood Crypto outages caused by Dogecoin surge

Robinhood Crypto outages caused by Dogecoin surge


Seeking Alpha
2021-04-16 20:42:47
Robinhood Crypto outages caused by Dogecoin surge

Robinhood (RBNHD) blames its crypto trading outages over the 24 hours on the explosion in Dogecoin (DOGE-USD) trading."On Thursday evening, interest in Dogecoin surged as it rose past 25 cents, putting extreme pressure on crypto trading systems," Robinhood said in its blog. "As we processed orders, one of our systems failed, which brought down our crypto order system."The company said the system recovered in about an hour, giving customers the ability to trade with some intermittent issues.A similar spike in Dogecoin activity on Friday morning, with the cryptocurrency rising to almost 50 cents, led to "sporadic crypto order failures and delayed notifications for some customers."Robinhood said its teams are working around the clock to provide "the highest level of service possible," but intermittent service interruptions may occur over the weekend as interest in crypto continues.Dogecoin is up 91% at 36 cents in trading today. Chart below show Dogecoin movement in the past

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