Michaela Alvez
Brian Armstrong, co-founder and CEO of crypto exchange Coinbase, has addressed concerns over slow transaction times on the platform, stating that the issue will be resolved soon.
In a response on X to Coinbase user “Ansem,” who expressed frustration over Solana’s transaction delays, Armstrong assured the community that the team is working to resolve the issue. He explained that the exchange had not anticipated the level of surge they experienced.
“Team is working hard on scaling our Solana infra now – lots of Solana activity last few days,” Armstrong wrote.
Coinbase, a leading cryptocurrency exchange, revealed its plans to list the TRUMP token over the weekend. The announcement was made through the Coinbase Assets X account, which shares updates on new assets.
Since adding the official Trump token to its platform, Coinbase has encountered issues with Solana withdrawals. The exchange is experiencing delays in processing these withdrawals due to the surge in transaction volumes following the TRUMP coin listing.
On January 17, Coinbase acknowledged that some users were experiencing delays with Solana transactions, including sends and receives. However, the exchange clarified that buying, selling, and fiat withdrawals/deposits remained unaffected.
Since then, the company has repeatedly communicated to users that it is actively investigating the issue, with no new updates or developments provided thus far.
Google Search Results Surge
Thanks to the buzz surrounding the TRUMP meme coin, Google search interest for terms like “buy crypto” and “buy Solana” has surged, attracting a new wave of interest from non-crypto users.
According to Google Trends, which ranks search volume on a scale from 0 to 100, with 100 representing the highest volume, both “buy crypto” and “buy Solana” have surged to a rank of 100.
Likewise, searches for “Coinbase” and “crypto app” saw a significant rise, indicating heightened interest and engagement from individuals outside the traditional crypto community.
Read More
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- Coinbase Delists USDT, Critics Say ‘Don’t Believe The FUD’
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
