Coinbase CEO Brian Armstrong has apologised to users over the widespread delays and cancellations of Solana-related transactions caused by infrastructure issues on the platform.
The technical problems emerged during a surge in Solana activity, leaving many users frustrated with disrupted transactions.
In a statement posted on X on January 22, Armstrong confirmed that the backlog of Solana transactions has been resolved. He advised users whose transactions were cancelled to retry them and reassured that processing times should now be back to normal.
“We have the Solana backlog triaged, and transactions should generate quickly again. If your transaction got canceled you can retry it now.”
Armstrong wrote, adding,
“Apologies for the trouble.”
The delays occurred during a surge in Solana’s network activity, which overwhelmed Coinbase’s systems. This led to criticism from users, some of whom pointed out the recurrence of similar issues during past high-demand periods. One X user, @PAGANDWOLF, claimed that the exchange
“had many years to fix these problems, including issues from last bull markets when volume is high.”
Acknowledging Coinbase’s inadequate support for Solana, Armstrong promised to strengthen the platform’s infrastructure and offer the blockchain the same high-level support provided to cryptocurrencies like Bitcoin and Ethereum. However, he did not elaborate on specific plans for these upgrades.
The CEO also emphasized that the increased activity was a positive indicator of Solana’s growing ecosystem. He admitted, however, that Coinbase must improve its response to high-demand scenarios.
“The surge in activity is great for the ecosystem (and these are high quality problems to have), but we need to do a better job serving our customers during periods of high demand,” he stated.
Meanwhile, Amstrong recently criticized law firms representing crypto companies while employing individuals with a history of opposing the blockchain and cryptocurrency industry. His remarks followed Milbank LLP’s decision to hire Gurbir S. Grewal, the former director of the U.S. Securities and Exchange Commission (SEC)’s Enforcement Division. Grewal, during his tenure, led numerous enforcement actions against crypto firms, including Coinbase.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
