Coinbase Faces Solana Transaction Delays Amid Technical Issues

Coinbase, a U.S.-based crypto exchange, reported technical issues on Friday that caused delays in sending and receiving SOL and SPL tokens on the Solana network.

The issue was first identified at 10:37 PST. However, a quick fix was immediately implemented by 11:17 PST, but the team confirmed that they are monitoring the system to ensure full recovery.

“We are aware that some users may be experiencing delayed sends and receives on the Solana network. Buys, Sells, and Fiat withdrawals/deposits remain unaffected. We are working on this issue and will provide updates as the situation changes. Rest assured your funds are safe,” the team said. However, the exchange did not disclose the cause of the issue.

Recent transaction delay on the platform

This is one of many recent technical issues that have happened lately. On February 13, Coinbase reported a separate issue that briefly disrupted customers trying to buy, sell, or trade assets on the platform. 

That incident lasted roughly 40 minutes, and Coinbase also confirmed that all users’ funds were protected. According to a previous report, the issue occurred on the night of February 12-13, which prompted the exchange to look into it immediately.

The delay was first reported at 11:14 PM, when the team posted on X saying, “Our team is investigating this issue and will provide an update. Your funds are safe.” By 12:19 AM on February 13, Coinbase announced that it had deployed a fix and that the situation was being monitored.

Similar Solana delays in the past

A more significant event happened in January 2025, following the launch of the TRUMP memecoin on January 18 and the MELANIA memecoin on January 19. The surge of activity caused a long wait for transactions on the platform, with some users reporting delays of up to 15 hours.

At the time, Coinbase CEO Brian Armstrong stated on X, “Lot of Solana activity last few days, we were not anticipating the level of surge.”

Some delays during the spike were independent of Solana’s blockchain, as Coinbase’s settlement time lagged the network by hours. Despite the spike, the Solana blockchain reported 100% uptime in the 90 days before February 6, 2025.

Broader context

Coinbase’s repeated delays show the ongoing technical issues faced by crypto platforms. These delays tend to happen because the exchanges’ system is slower than the Solana network, even though the blockchain itself has full uptime. 

Still, a short disruption can slow trading action and affect users who depend on a fast response to their transactions. However, Coinbase has acted quickly to fix these problems each time. 

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