Coinbase, the largest US-based cryptocurrency exchange, is facing backlash from users due to significant delays in processing Solana (SOL) transactions. Users have reported waiting over 14 hours for their transactions to be sent or received, leading to concerns about the exchange's liquidity and operational practices. Some users speculate that Coinbase might be staking customers' SOL without their consent to earn yield, which could be causing the delays. This incident has raised skepticism about centralized exchanges (CEXs) in the industry, with critics drawing comparisons to the FTX collapse. Users are now calling for immediate proof of reserve (PoR) audits and clear evidence of Coinbase's liquidity and operational integrity. Coinbase has attributed the delays to technical and blockchain issues, but developers and users believe it is a result of the exchange's internal infrastructure struggling to handle Solana's rapid transaction speeds. This is not the first time Coinbase has faced scrutiny over its custody practices, as investors have previously raised concerns about its custodial services. The exchange has recently launched Bitcoin-backed loans, which have received mixed reactions from the crypto community.



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