Coinbase has announced that it is currently investigating issues related to delayed transactions involving Ripple (XRP) on its platform. On January 14, the exchange acknowledged the problem, stating, “We are aware that some users may be experiencing delayed sends for Ripple (XRP). Buys, Sells, and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly.”
This incident follows a previous disruption reported on January 10, when some users faced delayed sends and receives for Stellar (XLM). That issue was swiftly resolved within 90 minutes. On January 9, Coinbase also encountered performance degradation for several features, including buys, sells, and the Coinbase Onramp, which was fixed in under two hours.
In addition to technical issues, the company has been facing regulatory scrutiny. A report indicated that Coinbase may have to provide user data to the Commodity Futures Trading Commission (CFTC), following a subpoena regarding customer interactions with the prediction market firm Polymarket. A Coinbase spokesperson confirmed that all requests for data are thoroughly reviewed to ensure they meet legal standards.
On a positive note, Coinbase’s integration with cryptocurrency payment solution firm Triple-A aims to enhance payment flexibility for users, allowing them to transact with various merchants within the Triple-A network. The integration contributes to broader cryptocurrency adoption.
Furthermore, Coinbase has been expanding its offerings, recently updating its Coinbase One subscription program with a new tier called Coinbase One Premium. This initiative has resulted in a membership increase to 600,000 users across 42 countries.
In summary, while Coinbase is addressing some operational challenges, it continues to innovate and expand its services, reinforcing its commitment to user experience and regulatory compliance.