PANews reported on January 21 that according to The Block, users have recently expressed concerns about the delay in Coinbase's processing of Solana transactions, with some withdrawal and deposit transactions delayed for up to 10 hours or even failed. In response, Coinbase CEO Brian Armstrong said that the exchange is working hard to meet the challenges of the current surge in Solana activity and apologized for the inconvenience.

Coinbase explained that Solana's transaction volume has surged to 10 times the usual level, causing its system to be unable to verify and process transactions in a timely manner. Currently, withdrawals may take 24 hours to complete, and deposits are delayed by about 6 hours. Coinbase plans to work with the Solana Foundation to upgrade infrastructure, and it is expected that delays will gradually improve in the next few days, and it promises that all user assets are safe.