Some Coinbase Wallet users are seeing empty balances due to a technical issue. Leading crypto exchange Coinbase has announced that it is investigating some Wallet users seeing empty balances. The exchange also stated that user funds are safe.
Coinbase Wallet users see zero balance!
Coinbase announced on Monday that it is investigating a bug that caused some Wallet users to see a zero balance. “Your funds remain safe while we work on a fix,” the company said in a status update. In addition, the leading cryptocurrency exchange issued the following warning:
We are aware that some Coinbase Wallet customers may see an error screen when creating a new wallet or importing an existing wallet. This also causes a display issue where some assets show 0 balance. You can rest assured your money is safe while our teams work on a fix.
We’re aware that some Coinbase Wallet customers may see an error screen when creating a new wallet or importing an existing wallet. This is also causing a display issue where some assets show a 0 balance – rest assured your funds are safe while our teams work on a fix.
— Coinbase Support (@CoinbaseSupport) August 28, 2023
Some users asked Coinbase CEO Brian Armstrong on social media about the issue. In this context, users stated that they could not see their Bitcoin balances. In a follow-up post, the company announced that it had identified the cause of the problem. Also noted that they are implementing a fix.
How will the two giant cryptocurrency exchanges move forward in this challenging environment?
Crypto expert Anthony Patrick assesses the current positions of the two major crypto exchanges under regulatory pressure. The situations of Binance and Coinbase exchange are very different from each other. As you follow on Kriptokoin.com, Binance is a worldwide exchange. Arica is by far the largest in the world in terms of market share. Binance still holds more than 40% of the global spot digital asset market despite the huge drop in spot market share in 2023. Binance USA has always represented a small market for the firm. Also, the impact of the SEC lawsuit on business activities is minimal. Binance US currently holds less than 1% of the US market share. However, the stock market as a whole remains without a doubt the most important digital asset exchange.
On the other hand, Coinbase owns more than 50% of the US market and being able to operate there is critical. Therefore, the approach and the prize in question for the two exchanges here are definitely different. Therefore, his position is based on a defensive strategy. Binance is currently focusing more on acquiring as many licenses as possible in Europe and around the world. Binance US. and there is seldom news about the case with the SEC. In contrast, the US market represents an absolute priority for Coinbase. That’s why the exchange will make every effort to achieve the best possible result.
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