Coinbase Global Inc. Chief Executive Officer Brian Armstrong said the company will need to pump more money into improving its trading infrastructure after users experienced problems buying and selling as the price of Bitcoin began surging at the end of February.
Armstrong, in a Bloomberg TV interview Tuesday, said the outages were caused by a larger-than-anticipated surge in trading — the company had last year prepared and tested for increases as high as 10 times the normal volume following the approval of spot Bitcoin exchange-traded funds.