Several users have reported that the US Federal Reserve Bank’s real-time settlement system has gone offline for a brief period of time. This prevented banks from completing a number of transactions, further highlighting the issues of centralized systems. Bitcoin’s uptime, on the other hand, remains 99.98% since inception.
Federal Reserve: Fedwire Goes Down
According to several users on different social media, Fedwire, the real-time gross settlement system, owned and operated by the 12 Federal Reserve banks in the US, wen off for a few minutes today, April 2nd.
One of the users has taken the matter to Reddit, detailing the following:
Today the United States Federal Reserve experienced an unexpected issue and went completely down. No incoming or outgoing wires went through in the entire country. It’s still unresolved and yet not one single news outlet seems to be reporting on this and the massive impact it has.
According to the official website that monitors the current status of the services provided by the Federal…