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

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 I don't find out about you guys however after I get my ALGO's withdrawn I'm discovering an alternative choice to CoinBase.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 other people misplaced out on signing up. This is not any totally different than what Robinhood did with GME inventory. It simply reveals that CEX's want regulation desperately and we're presently on the mercy of Coinbase assholes.

There have additionally been different unusual issues between Coinbase and Algorand. For the longest time that they had Algorand listed as an ERC-20 token. Additionally they generally don’t publish up to date/appropriate information for Algorand. A number 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 great various 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 certain they nonetheless took my .002 ALGO transaction payment although. CB is fucking us over royally.

EDIT 3: Tried withdrawing as soon as extra, immediate withdrawal cancel with similar cause as earlier than. I'm performed attempting to withdraw tonight. Will attempt once more tomorrow within the AM and replace the publish.

submitted by /u/gigabyteIO
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