Transaction delays, canceled transfers and frustrated users — recent weeks have been challenging for Coinbase and its Solana (SOL) integration. Amid a surge in activity on the popular blockchain, the exchange has faced mounting criticism over its inability to keep up. Now, the company is promising a major overhaul.
Coinbase’s CEO Brian Armstrong has made a public commitment to significantly improve the platform’s support for Solana following recent transaction delays that have affected users.
In a statement addressing the ongoing issues, Armstrong explained that the exchange has now triaged the Solana backlog and assured users that transactions should process more swiftly.
However, the company is not stopping there. The CEO acknowledged the need for deeper changes to scale the infrastructure and better handle the growing volume of activity on Solana.
Armstrong emphasized that Coinbase must “step up its game” on Solana, pledging to provide the same level of support for Solana as the platform currently offers for Bitcoin, Ethereum and Base. Acknowledging the surge in activity as a “high-quality problem,” he made it clear that improving the infrastructure to meet such demand is a top priority.
What happened?
The chaos started with a bunch of transactions, many of which were tied to a newly launched meme coin that got a lot of attention in the crypto community. Users were reportedly waiting hours, sometimes more than ten, for funds to transfer between their Coinbase accounts and SOL wallets. Canceled transactions and delays in deposits added to the frustration, leading to discussions on social media.
Related
Some users even questioned Coinbase’s commitment to supporting Solana, pointing to its affiliation with Base, an Ethereum-based layer-2 network, as a potential conflict of interest.These speculations were made worse by calls for greater transparency around Coinbase’s Solana holdings, with users asking for reassurance that their funds were secure.
Yet, the issue may not be entirely with SOL. Other major exchanges were reportedly able to process transactions far faster, suggesting the problem stems from Coinbase’s infrastructure.
