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 I don't find out about you guys however after I get my ALGO's withdrawn I'm discovering a substitute for CoinBase. They have formally misplaced my enterprise which is a disgrace as a result of I've used them since stepping into crypto.
They did this very same factor earlier than the first governance interval in September and folks misplaced out on signing up. This is not 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 put up up to date/appropriate information for Algorand. A couple of days in the past they listed Securitizes Tokenization of Down Jones Index Funds as occurring on Ethereum as a substitute 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 attempting to undermine Algorand.
Does anybody know of a superb different to Coinbase and Binance within the US?
EDIT 1: They canceled my withdrawal after over 24 hours pending and mentioned "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 nearly instantly and mentioned the identical factor "Blockchain transaction was compensated." I'm fairly positive they nonetheless took my .002 ALGO transaction charge although. CB is fucking us over royally.
EDIT 3: Tried withdrawing as soon as extra, prompt withdrawal cancel with similar purpose as earlier than. I'm accomplished attempting to withdraw tonight. Will attempt once more tomorrow within the AM and replace the put up.
EDIT 4: I used to be lastly in a position to withdraw my ALGO's right now. Look's like Coinbase most certainly noticed this put up and purchased extra ALGO. The quantity of ALGO in Coinbase 2 doubled and magically withdrawals had been reenabled. Which means this was 100% a liquidity challenge, and never a technical challenge. Thank you everybody for contributing, I'm proud to be part of this neighborhood. The elites get scared when all us little guys work collectively, always remember how highly effective we’re after we work collectively. This is the precise purpose why we’re all right here, so big monolithic entities can't dictate and management our lives with none recourse.
EDIT 5: MAKE COINBASE SQUIRM. Withdraw every part. Coinbase 1 is right down to 351 ALGO and Coinbase 2 is right down to <1 Million ALGO. Let's clear them out. Hopefully they may be taught not to do that once more.
EDIT 6: I've been studying some individuals are nonetheless having issues withdrawing.