SBF Apologizes After FTX Temporarily Prevented User Access Yesterday

Crypto exchange FTX glitched on September 13th at around 12:30pm UTC, temporarily preventing some users from account access. The outage coincided with the release of the US consumer price index (CPI) report. FTX founder and CEO SBF apologized on Twitter, adding that FTX "didn't actually go down but the website did wonky auto-refreshing for a lot of people". At 13:25pm UTC, SBF said on Twitter that the issue was fixed. A FTX spokesperson said that the issue "only affected the website, not the API". The CPI report showed inflation rose by 8.3% in August from a year earlier, exceeding expectations of 8.1%. The release caused wild volatility in crypto markets, with the price of Bitcoin dropping over $1,000 within half an hour. According to Coingalss, more than $110 million was liquidated across crypto derivatives exchanges in the hour following the report.