According to frbservices.org, the Federal Reserve’s payment network for sending wire transfers and processing those transactions in real time has been down.
“An operational failure by the Federal Reserve led to operational disruptions in several businesses,” said Jim Strader, spokesman for the Richmond Fed. “We’re restoring services and communicating with all Federal Reserve Financial Services customers about operational status.”
In the post on Wednesday, the central bank said it had investigated Fedwire, FedACH and the national agreement.
As a result, cryptocurrency exchanges like Gemini, Kraken and possibly Coinbase are experiencing delays in Fedwire and Automated Clearing House (ACH) transactions.