Coinbase halts buying and selling as crypto market plunges

Anthony Harvey/Getty Images for TechCrunch

• Coinbase, the largest platform for buying and selling cryptocurrencies, has put a halt on trading Friday.
• The entire market for digital currencies was under intense pressure with bitcoin trading down 20% on Coinbase's GDAX exchange.

Coinbase, the largest cryptocurrency trading platform, has disabled buys and sells on its platform amid a massive cryptocurrency sell-off.

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The company said it is "working on a fix," adding that it apologizes for inconveniences.

Meanwhile, all major cryptocurrencies were trading in the red. Bitcoin was down more than 20% at the time of writing on Coinbase's GDAX exchange. It was trading at $12,650, down from an all-time high above $19,000 earlier in December.

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