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Seeking Alpha 2021-04-16 07:55:04

Robinhood restores crypto trading after outage amid 'unprecedented demand'

Robinhood (RBNHD) has fixed a problem with executing crypto orders that arose late yesterday as the platform faced "unprecedented demand."Interest in cryptocurrencies surged this week, coincidental with the direct listing of trading platform Coinbase (COIN)."We know some customers may have seen executed crypto orders display as 'pending; for an extended period of time. We were experiencing a delay in order status updates - this is now resolved. Check your app for up-to-date information about any recent orders," Robinhood initially tweeted around 6:30 p.m. ET Thursday.At 10 p.m. it said: "We’re currently experiencing issues with crypto trading. We're working to resolve this as soon as possible."By 11:46 p.m. it said the problem had been resolved, adding: "Like others, we were experiencing unprecedented demand for Robinhood Crypto services, which created issues with crypto trading. We’ve resolved the issue and apologize for the inconvenience."Coinbase surged 30% on its debut Wednesday, but closed well below

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