Coinbase is not the only Exchange with Problems!
There are a lot of news about Coinbase having problems with withdrawals. Coinbase is not on its' own, Bitfinex is also experiencing similar problems. The exchanges are not the problem.
On 13 April 2017 Bitfinex announced:
“Bitfinex is currently experiencing delays in the processing of outbound USD wires to customers. The normal channels that we have been operating through in the past are currently unavailable.”
Read their full announcement here
Not only has withdrawals been affected but also deposits to Bitfinex, not that I want to make further deposits until the problems are resolved. On 17 April 2017, Bitfinex posted an update:
“Beginning April 18, 2017, all incoming wires to Bitfinex will be blocked and refused by our Taiwan banks. This applies to all fiat currencies at the present time. Accordingly, we ask customers to avoid sending incoming wires to us until further notice, effective immediately."
Read their full announcement here
Then they announced on 12 May 2017:
“As noted in our prior announcements US correspondent banks continue to block international wires.”
Read their full announcement here
It seems the banks are blocking the transfer of funds to and from the exchanges and not the problem of the exchanges themselves. Noticed how bitcoin and other crypto-coins have been on the move up lately and the obstructions by the banks. The timing is coincidental, NOT!
Withdrawing bitcoin is still possible and I have done this on a number of occasions with no problems or delay. However, who knows this may change, if the problems persist I may POWER UP!
The banks obviously see the trend before their very eyes and you to keep your fiat in their vaults. What will happen if the fiats flee the banks and all head for crypto – insolvency maybe?
IS THIS A PRECURSOR TO WHAT IS COMING?
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You hit the nail right on the head as many banks are not allowing credit cards to synced to exchanges like CoinBase, etc.
Something is burning in the kitchen, where there is smoke there is fire!