- Robinhood reported that it was “experiencing issues with crypto trading” on Thursday evening.
- The trading issues came as Dogecoin’s price has soared in recent days, prompting outrage from users.
- Robinhood has come under fire repeatedly after users were unable to trade during market rallies.
Robinhood stated on Thursday evening that it was experiencing issues executing users’ cryptocurrency trades.
“We’re currently experiencing issues with crypto trading. We’re working to resolve this as soon as possible,” Robinhood tweeted at 10 p.m. Eastern Time.
The technical difficulties came as the cryptocurrency Dogecoin’s price has soared in recent days, prompting outrage from users hoping to cash in on the rally. Dogecoin’s value has skyrocketed more than 230% over the past three days, increasing its total market value to more than $34 billion.
“No, we didn’t place restrictions on $DOGE trading. This is false information,” Robinhood tweeted earlier in response to users alleging on social media that the company had restricted trading of the cryptocurrency.
Robinhood has come under fire from users and regulators previously over issues with its trading platform during significant market events.
In January, Robinhood blocked purchases of GameStop, AMC, and other stocks after days of Reddit-fueled rallies. The company has since been subpoenaed as part of a federal investigation and faces a class-action lawsuit from users.
In March, Robinhood experienced major outages two days in a row, again drawing outrage from users who were locked out of trading as markets had their biggest rally in years.
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