Crypto exchange Coinbase denies rumors of imposing $5,000 weekly limit on Bitcoin withdrawals, according to a spokesperson from the company. The rumors originated from a user’s post on social media claiming to have been affected by the alleged policy. The post gained significant attention, with over 250,000 views and numerous retweets and likes. However, Coinbase clarifies that there is no such policy in place and that the ability to withdraw from the platform depends on the chosen payment method.
Coinbase advises users to refer to its official policy on account limits and withdrawals for more information. The rumors coincided with a brief period of difficulty in processing trades on the exchange. Coinbase experienced these issues around 6 pm UTC on October 23, but the problem was quickly resolved, and trading activity was monitored for any ongoing problems.
The trading delays on Coinbase occurred during a period of heightened market activity, with the price of Bitcoin reaching as high as $35,000, a level not seen since May of the previous year. This surge in price generated excitement and interest in the market.
It is important to note that Coinbase has refuted the claims of withdrawal limits and emphasizes that users should consult the official policy for accurate information. The exchange continues to operate normally, providing its services to customers.
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