Coinbase, a prominent cryptocurrency exchange, announced on January 14 that it is currently investigating reports of delayed transactions involving Ripple (XRP) on its platform. The company reassured users that buying, selling, and fiat withdrawals or deposits are not impacted by this issue. In its status report, Coinbase stated, “We are aware that some users may be experiencing delayed sends for Ripple (XRP). We are investigating this issue and will provide an update shortly.”
This latest incident follows a previous report from January 10, where some users reported delays in transactions related to Stellar (XLM). Fortunately, that issue was resolved within 90 minutes. Additionally, on January 9, Coinbase faced a brief service disruption impacting buy and sell actions, which was rectified in about two hours.
In other recent developments, Coinbase has faced scrutiny from regulatory bodies. On January 9, it was reported that the Commodity Futures Trading Commission (CFTC) had issued a subpoena to the exchange, requesting information regarding customer interactions with prediction market firm Polymarket. A Coinbase spokesperson confirmed that all requests for information from government entities undergo rigorous examination to ensure compliance with legal standards.
On the operational front, in a move to enhance user experience, Triple-A, a cryptocurrency payments solution provider, recently integrated with Coinbase, allowing its users to make payments to selected merchants within Triple-A’s network. This partnership aims to streamline transactions for Coinbase users and broaden cryptocurrency adoption among retailers.
Moreover, Coinbase is making strides to cater to a diverse trading audience by enhancing its Coinbase One subscription program. The launch of a new tier, Coinbase One Premium, along with the growth of its membership base to 600,000 across 42 countries, showcases the exchange’s commitment to supporting various trading needs.
These developments reflect Coinbase’s ongoing efforts to improve user experience while navigating regulatory challenges in the cryptocurrency space, highlighting both its commitment to innovation and its responsibility to its customers.