Coinbase has change into the brand new Robinhood. They’re artificially withholding Algorand withdrawals due to liquidity points and don’t need to lose out on their governance rewards. It has been over 24 hours now they usually’re pretending it is a technical challenge.

My guess is Coinbase is working on fractional reserves and doesn't wanna lose out on it's governance rewards so they’re artificially delaying withdrawals of ALGO. I don't find out about you guys however after I get my ALGO's withdrawn I'm discovering an alternative choice to CoinBase. They have formally misplaced my enterprise which is a disgrace as a result of I've used them since entering into crypto.

They did this very same factor earlier than the first governance interval in September and folks misplaced out on signing up. This isn’t any completely different than what Robinhood did with GME inventory. It simply exhibits that CEX's want regulation desperately and we're at present on the mercy of Coinbase assholes.

There have additionally been different unusual issues between Coinbase and Algorand. For the longest time they’d Algorand listed as an ERC-20 token. Additionally they generally don’t submit up to date/right information for Algorand. A number of days in the past they listed Securitizes Tokenization of Down Jones Index Funds as taking place on Ethereum as an alternative of Algorand, since then they've taken it down from Ethereum however haven't posted it to Algorand information.

This all smells a bit fishy. I’ve been having this sense for some time that coinbase is intentionally making an attempt to undermine Algorand.

Does anybody know of an excellent various to Coinbase and Binance within the US?

EDIT 1: They canceled my withdrawal after over 24 hours pending and stated "Blockchain transaction was compensated". I'm questioning if I ought to attempt to withdraw once more or convert to a different coin and switch off.

EDIT 2: Tried withdrawing once more and it canceled virtually instantly and stated the identical factor "Blockchain transaction was compensated." I'm fairly positive they nonetheless took my .002 ALGO transaction price although. CB is fucking us over royally.

EDIT 3: Tried withdrawing as soon as extra, on the spot withdrawal cancel with similar motive as earlier than. I'm carried out making an attempt to withdraw tonight. Will strive once more tomorrow within the AM and replace the submit.

submitted by /u/gigabyteIO
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