Coinbase reported a system outage. Funds are safe.

On May 13, the cryptocurrency exchange Coinbase experienced a system-wide outage. Shortly before this, users had reported issues with sending cryptocurrencies and withdrawing fiat currency.

On its X platform, Coinbase announced that it is investigating the problem and working on a solution.

"Your funds are safe," the message stated.

According to Coinbase's status page, the site, mobile app, and API are experiencing performance degradation.

The incident did not affect Bitcoin's price. According to CoinDesk Indices, the leading cryptocurrency is trading at $61,976.

It's worth noting that earlier in March, Coinbase resolved an issue that caused delays on the platform and periodically "zeroed out" user balances.