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‘Where Are My Coins?’ – Coinbase Users Fume Over Solana Withdrawal Issues


Jan, 21, 2025
2 min read
by Martin Young
for CryptoPotato
‘Where Are My Coins?’ – Coinbase Users Fume Over Solana Withdrawal Issues

Crypto social media has been flooded by enraged Coinbase users who cannot withdraw their Solana (SOL) tokens, sparking rumors of insolvency.

“What’s the drama with Coinbase and Solana?” crypto YouTuber ‘Wendy O’ asked her 412,000 followers on X on Jan. 21.

Meanwhile, crypto investor ‘Curb’ asked Coinbase CEO Brian Armstrong, “After dealing with insolvency last cycle (FTX), we demand answers into why it is taking 9+ hours to send/receive SOL when [it] takes less than 1 second on chain.”

“Is Coinbase insolvent? Where are your proof of Solana reserves?” they asked.

Solana Stuck on Coinbase

“Coinbase is reportedly out of Solana, making users unable to withdraw money,” said ‘Financelot’ to their 205,000 followers on X.

Crypto venture capitalist Will Clemente commented, “What’s more likely is that they haven’t prioritized infrastructure build-out for Solana, maybe in part because they’re not incentivized to do so with a competing on-chain platform (Base).”

Others shared screenshots of waiting times of hours for pending transactions, with one user asking, “Where are my coins?” before claiming to be down nearly $1,000, “patiently waiting for my Solana,” adding, “Literally never using your platform again. Moving to Gemini.”

On Jan. 21, Coinbase announced support for the recently launched Official Trump (TRUMP) meme coin on the Solana network as a SPL token.

It is not the first time Coinbase has failed under heavy demand, and the exchange is known for going offline or having ‘technical issues’ when markets are at peak volatility. The Solana network has also had more than its fair share of outages over the past few years.

SOL Price Slumps

The rush to remove Solana and cash out has been exacerbated by the token tanking by around 13% over the past few hours. SOL prices hit an intraday high of $272 on Monday but dumped to $234 during the Tuesday morning Asian trading session.

Additionally, the asset is also down almost 20% from its all-time high of $293 on Jan. 19.

Solana-based and other meme coins are also getting mauled today. TRUMP has tanked more than 20%, while MELANIA has slumped around 50% over the past 24 hours.

Other memes, such as Fartcoin, Dogwifhat, Mog Coin, and Freysa AI, are also deep in the red.

The post ‘Where Are My Coins?’ – Coinbase Users Fume Over Solana Withdrawal Issues appeared first on CryptoPotato.

Read the article at CryptoPotato

Read More

Cardano vs Solana: Will ADA extend its Q1 lead over SOL in Q2?

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‘Where Are My Coins?’ – Coinbase Users Fume Over Solana Withdrawal Issues


Jan, 21, 2025
2 min read
by Martin Young
for CryptoPotato
‘Where Are My Coins?’ – Coinbase Users Fume Over Solana Withdrawal Issues

Crypto social media has been flooded by enraged Coinbase users who cannot withdraw their Solana (SOL) tokens, sparking rumors of insolvency.

“What’s the drama with Coinbase and Solana?” crypto YouTuber ‘Wendy O’ asked her 412,000 followers on X on Jan. 21.

Meanwhile, crypto investor ‘Curb’ asked Coinbase CEO Brian Armstrong, “After dealing with insolvency last cycle (FTX), we demand answers into why it is taking 9+ hours to send/receive SOL when [it] takes less than 1 second on chain.”

“Is Coinbase insolvent? Where are your proof of Solana reserves?” they asked.

Solana Stuck on Coinbase

“Coinbase is reportedly out of Solana, making users unable to withdraw money,” said ‘Financelot’ to their 205,000 followers on X.

Crypto venture capitalist Will Clemente commented, “What’s more likely is that they haven’t prioritized infrastructure build-out for Solana, maybe in part because they’re not incentivized to do so with a competing on-chain platform (Base).”

Others shared screenshots of waiting times of hours for pending transactions, with one user asking, “Where are my coins?” before claiming to be down nearly $1,000, “patiently waiting for my Solana,” adding, “Literally never using your platform again. Moving to Gemini.”

On Jan. 21, Coinbase announced support for the recently launched Official Trump (TRUMP) meme coin on the Solana network as a SPL token.

It is not the first time Coinbase has failed under heavy demand, and the exchange is known for going offline or having ‘technical issues’ when markets are at peak volatility. The Solana network has also had more than its fair share of outages over the past few years.

SOL Price Slumps

The rush to remove Solana and cash out has been exacerbated by the token tanking by around 13% over the past few hours. SOL prices hit an intraday high of $272 on Monday but dumped to $234 during the Tuesday morning Asian trading session.

Additionally, the asset is also down almost 20% from its all-time high of $293 on Jan. 19.

Solana-based and other meme coins are also getting mauled today. TRUMP has tanked more than 20%, while MELANIA has slumped around 50% over the past 24 hours.

Other memes, such as Fartcoin, Dogwifhat, Mog Coin, and Freysa AI, are also deep in the red.

The post ‘Where Are My Coins?’ – Coinbase Users Fume Over Solana Withdrawal Issues appeared first on CryptoPotato.

Read the article at CryptoPotato

Read More

Cardano vs Solana: Will ADA extend its Q1 lead over SOL in Q2?

Cardano vs Solana: Will ADA extend its Q1 lead over SOL in Q2?

Cardano and Solana, from Q1 to Q2: Which asset holds the edge?
Apr, 05, 2025
by AMBCrypto
Solana Ends Week Up 6% as SOL ETF Takes Major Step Forward

Solana Ends Week Up 6% as SOL ETF Takes Major Step Forward

Despite a plethora of geopolitical concerns and economic frailty, the cryptocurrency ...
Apr, 05, 2025
2 min read
by Watcher.Guru