Crypto margin trading lockdowns on Coinbase have left traders reeling in surprise. Other crypto exchange trading platforms still allow margin trading with crypto assets, but these practices likely won’t last long. Previous crypto margin trade will probably phase out after the positions expire on the majority of popular platforms. After Wednesday, November 21, 2020, Coinbase will suspend all new crypto margin trades, but the forum will honor existing margins until further notice.
The crypto trading giant released announcements on social media that discuss the future’s potential for a cashless economy worldwide. Less than a week before the expected shutdowns, Coinbase servers crashed as XRP prices shot through the roof. On November 16, Coinbase released an official statement on Twitter that linked to remediated and responsive actions taken on behalf of the platform.