Close Menu
Cryprovideos
    What's Hot

    Which Is The Finest Crypto Presale To Purchase Now: Remittix Or BlockDag

    September 22, 2025

    RippleX Unveils XRPL DeFi Roadmap: Key Highlights Inside…

    September 22, 2025

    Arthur Hayes Dumps HYPE Luggage for a Ferrari After Daring 126x Prediction – BlockNews

    September 22, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Altcoins»Customers Slam Coinbase Over Delayed Solana Transactions, Name for Proof of Reserves
    Customers Slam Coinbase Over Delayed Solana Transactions, Name for Proof of Reserves
    Altcoins

    Customers Slam Coinbase Over Delayed Solana Transactions, Name for Proof of Reserves

    By Crypto EditorJanuary 21, 2025No Comments4 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Coinbase, the biggest US-based crypto change, is being criticized by customers for important delays in processing Solana (SOL) transactions.

    Customers have reported ready over 14 hours to ship or obtain SOL, sparking considerations in regards to the change’s liquidity and operational practices.

    Considerations Develop Over Coinbase Liquidity Points and Staking Practices

    Coinbase customers have expressed widespread frustration over delayed transactions. One investigative journalist reported the cancelation of their transaction after a full day of pending standing. One other consumer shared that they’d two transactions caught for over 14 hours.

    A rising narrative means that Coinbase is likely to be staking clients’ SOL with out their consent to earn yield. Some speculate that the delays might stem from the unstaking course of, probably wanted to replenish working reserves earlier than executing transactions.

    “Deposit SOL to Coinbase, they take your SOL and stake it to earn yield off your deposits, and oops — if everybody needs SOL suddenly, they don’t have your liquidity,” one consumer summarized.

    This incident comes amid heightened trade skepticism following the collapse of FTX. Your entire saga uncovered important mismanagement and a lack of transparency in centralized exchanges (CEXs), with critics arguing that the newest sample is paying homage to that incident.

    CryptoCurb, a preferred consumer on X, questioned Coinbase’s solvency and known as for rapid Proof of Reserve (PoR) audits. He additionally criticized the trade for seemingly abandoning PoR audits, a key reform measure launched after the FTX debacle.

    “It’s trying VERY probably that Coinbase was caught staking their clients SOL with out clients consent. That is NOT okay if confirmed,” the consumer wrote.

    Fueling the suspicion additional, blockchain-tracking platform Whale Alert flagged a number of massive SOL transactions from unknown wallets to Coinbase change.

    Whale Alert Flags Transactions To Coinbase
    Whale Alert Flags Transactions To Coinbase. Supply: Whale Alert on X

    Amid the continued SOL transaction delays and huge transfers, customers urge Coinbase to offer clear proof of its liquidity and operational integrity. Coinbase Assist responded to consumer complaints, attributing the delays to “technical and blockchain points.”

    Nevertheless, Mert Helius, a distinguished developer, ascribed the delays to Coinbase’s inside infrastructure, which struggles to deal with Solana’s fast transaction speeds.

    “This has nothing to do with the chain [Solana]. My guess is they simply can’t sustain with the tip of the chain as a result of they generalize their indexing to all chains however don’t account for the way completely different these chains are,” Helius clarified.

    One other consumer, Sidehustle, identified that Coinbase’s largest Solana validator is ready to unstake 567,000 SOL — value roughly $130 million — on the finish of the present epoch.

    “Did they run out of liquid SOL and are actually ready till the epoch boundary to push via withdrawals?” he questioned.

    This isn’t the primary time Coinbase has confronted scrutiny over its custody practices. Lately, BlackRock filed to amend its IBIT Bitcoin ETF amid consumer considerations over Coinbase’s custodial companies. As BeInCrypto reported, traders known as for Coinbase, as custodian, to offer on-chain proof of Bitcoin purchases for ETFs to make sure transparency.

    “Topic to affirmation of the foregoing required minimal stability, Coinbase Custody shall course of a withdrawal of Digital Belongings from the Custodial Account to a public blockchain deal with inside 12 hours of acquiring an Instruction from Consumer or Consumer’s Approved Representatives,” an excerpt within the submitting learn.

    Past this controversy, Coinbase has lately launched Bitcoin-backed loans for USDC, drawing blended reactions from the crypto neighborhood.

    Disclaimer

    In adherence to the Belief Mission tips, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to offer correct, well timed info. Nevertheless, readers are suggested to confirm information independently and seek the advice of with knowledgeable earlier than making any selections based mostly on this content material. Please observe that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Which Is The Finest Crypto Presale To Purchase Now: Remittix Or BlockDag

    September 22, 2025

    RippleX Unveils XRPL DeFi Roadmap: Key Highlights Inside…

    September 22, 2025

    Crypto Costs Crash with $1.7B Liquidation Wipeout: Is the Bull Market Over?

    September 22, 2025

    3 easy methods to know if it’s a crypto bull run

    September 22, 2025
    Latest Posts

    Bitcoin Caught In Impartial Whereas Markets Roar — Analyst Explains Why

    September 22, 2025

    Technique Unveils Further $99,700,000 Bitcoin Buy – U.Right this moment

    September 22, 2025

    Bitcoin (BTC) Surges Amid Federal Reserve Price Reduce and Market Volatility

    September 22, 2025

    MSTR Provides Extra BTC

    September 22, 2025

    Vietnam Financial institution Account Purge Highlights Bitcoin’s Attraction – Bitbo

    September 22, 2025

    XRP Goes Head-To-Head With Bitcoin In This Metric As South Korean Market Wakes Up

    September 22, 2025

    Can Bitcoin Korean Premium Set off BTC Value Rebound? – U.At present

    September 22, 2025

    Metaplanet turns into fifth largest company Bitcoin treasury with $633M purchase

    September 22, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Crypto Dealer Michaël van de Poppe Says Bitcoin on Cusp of Breakout, Updates Outlook on Ethereum and Bittensor – The Every day Hodl

    June 12, 2025

    It's Crypto Week. Congress Can Future-Proof the U.S. Monetary System: Summer time Mersinger

    July 14, 2025

    CRYPTO FALLS, STOCKS HIT ANOTHER ATH, SOL DEFI COINS SOAR – Decrypt

    September 21, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.