Follow Us @
Coinbase faces criticism for Solana withdrawal delays after listing TRUMP memecoin
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
THE exchange and cryptocurrencies Coinbase was one of the first to announce the listing of the TRUMP memecoin on Monday (20). However, since then, several exchange users have gone to X to complain that are not able to withdraw another cryptocurrency from your accounts.
Created on Solana (SOL), the TRUMP token generated strong demand both on-chain and on Coinbase. As a result, many people complained about not being able to withdraw their SOL tokens on the exchange. And, of course, these complaints ended up generating rumors of insolvency.
Meanwhile, the investor, known as “Curb” directly mentioned Coinbase CEO Brian Armstrong.
The exchange’s CEO did not respond to the question.
Users complain to Coinbase
After that, several complaints of other users also emerged, with many stating that their withdrawals have been frozen for 24 hours. There were those who questioned “why people still used Coinbase.
But it is unlikely that the problem is with the exchange’s solvency, but rather that it is simply a case of high demand. TRUMP was built on the Solana network and strong demand for memecoin caused many users search for the network at the same time. The same thing happened days ago when Coinbase listed another memecoin and saw demand for it explode.
Will Clemente, an investor specializing in cryptocurrencies, stated that the problem is probably not with Coinbase’s reserves, but rather with its infrastructure. Clemente stated that Coinbase would not have prioritized the construction of mechanisms to speed up transactions on Solana.
Users shared screenshots that show waiting times that exceed 24 hours. “Where are my coins?” said a user who had a withdrawal of almost US$5,000 pending. The publication is dated January 19th and has a response given the following day, in which the user states that they still do not have their SOL in their wallet.
It’s not the first time Coinbase has failed under high demand, and the exchange has been known to go offline or have “technical problems” when the market is at peak volatility.
In addition, Solana also has a history of outages in recent years. The network often crashes due to errors, problems or in cases of high demand, despite supposedly being able to process more than 60,000 transactions per second.
Coinbase faces criticism for Solana withdrawal delays after listing TRUMP memecoin
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Coinbase faces criticism for Solana withdrawal delays after listing TRUMP memecoin
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Coinbase faces criticism for Solana withdrawal delays after listing TRUMP memecoin
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Coinbase faces criticism for Solana withdrawal delays after listing TRUMP memecoin