Coinbase Fully Restores Trading After Six-Hour AWS Northern Virginia Outage

Coinbase has fully restored trading and services after a six-hour outage triggered by AWS data center overheating in Northern Virginia's US-EAST-1 (use1-az4), affecting multiple availability zones. The disruption started with an emergency shutdown and 'Cancel Only' mode, followed by a 10-minute auction phase, with full resumption around 1:00am PDT; CME systems were also briefly impacted. BTC plunged to $79,333, triggering $823.78K in liquidations over four hours and a 35% drop in Coinbase volume to ~$1.2B. No user funds or data were lost, though it highlights cloud dependency risks amid Coinbase's $394M Q1 loss and 14% layoffs.