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The PayPal outage affected thousands of people worldwide on Thursday morning
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The PayPal outage affected thousands of people worldwide on Thursday morning

Payments company PayPal said Thursday it had resolved an issue that led to a global outage that affected thousands of users for nearly two hours.

The company experienced a system issue that affected multiple products, including account withdrawals, peer-to-peer payment service Venmo, online checkout, and crypto.

PayPal said the problem, which started shortly before 5 a.m. in Dallas, was resolved about two hours later.

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Exchanges Coinbase and Kraken had also posted notices on their websites about PayPal transaction glitches and deposit delays, respectively.

The outage came on a day when bitcoin, the world’s largest cryptocurrency, soared to levels above $98,000, pulling other crypto stocks with it.

PayPal allows its customers to buy, sell and hold cryptocurrency.

Downdetector, which tracks reports submitted by users, had said there had been almost 9,000 reports of problems with PayPal transactions as of 1226 GMT.