Coinbase, one of the leading cryptocurrency exchanges, reported on January 14 that it is currently investigating an issue with delayed transactions involving Ripple (XRP). The exchange acknowledged that some users might be experiencing this problem, while affirming that buying, selling, and fiat withdrawals or deposits are functioning normally. Coinbase has promised to provide updates as they resolve the issue.
This incident follows a similar situation that occurred just days earlier, on January 10, when users experienced delays with Stellar (XLM) transactions. That particular issue was swiftly addressed, taking only 90 minutes to resolve. Additionally, on January 9, users faced latency across various services including buys, sells, and sending mechanisms, which was also fixed in under two hours.
In a separate development, Coinbase has informed its customers that it may need to comply with inquiries from the Commodity Futures Trading Commission (CFTC). The regulator has issued a subpoena requesting information regarding user interactions with the prediction market platform Polymarket. A Coinbase spokesperson emphasized the company’s diligence in reviewing such requests to ensure their legality.
On the positive side, Coinbase continues to innovate and expand its services. Recently, they announced an integration with the cryptocurrency payments solution firm Triple-A, aimed at enabling Coinbase users to make payments to select merchants, thereby promoting widespread cryptocurrency usage. Additionally, the exchange has enhanced its subscription service, Coinbase One, which has gained significant traction, now boasting 600,000 members across 42 countries.
In summary, while Coinbase navigates temporary issues with transaction delays, the company remains focused on enhancing user experience and compliance with regulatory requirements, demonstrating a commitment to both customer service and growth in the evolving cryptocurrency landscape.