Coinbase has confirmed an issue concerning the delayed sending of Ripple (XRP) on its platform, as stated in an incident report released on January 14. The company reassured users that while some may be impacted by these delays, other services such as buys, sells, and fiat withdrawals or deposits remain unaffected. Coinbase is actively investigating the matter and plans to provide updates soon.
This instance of Ripple delays follows another similar incident reported on January 10, where some users experienced issues with sending and receiving Stellar (XLM). Fortunately, that situation was resolved within 90 minutes. The previous week, on January 9, users had reported latency issues across various services which were also rectified in a short timeframe.
Additionally, Coinbase is navigating regulatory scrutiny as the Commodity Futures Trading Commission (CFTC) has subpoenaed the exchange for customer data related to interactions with prediction market firm Polymarket. In response, Coinbase has informed customers that some data may need to be provided to the CFTC, affirming that such requests are handled carefully.
In a separate announcement, cryptocurrency payment solution provider Triple-A recently integrated its services with Coinbase, enabling Coinbase users to pay with cryptocurrency at select merchants. This initiative aims to enhance user experience and expand the adoption of cryptocurrency payments.
Coinbase continues to expand its services, recently upgrading its Coinbase One subscription program and introducing a new tier—Coinbase One Premium. The membership base has reportedly grown to 600,000 across 42 countries, which reflects an increased interest in their services from a diverse range of traders.
In summary, despite these technical challenges and regulatory pressures, Coinbase is actively working to enhance user experience and connectivity in the cryptocurrency space. The integration with Triple-A and expansion of subscription offerings indicate a positive trajectory for the platform, emphasizing its commitment to promoting cryptocurrency use in everyday transactions.