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Investors Irate as Coinbase Continues to Freeze Bitcoin Cash Holdings



Last week, before the Bitcoin Cash (BCHhard fork, San Francisco-based Coinbase announced it would likely support both of the emerging chains after November 15. However, while many other major crypto exchanges, including Binance and Kraken, have pushed forward with the new chains, Coinbase has investor funds still locked as it awaits “stability” in the network.

While this decision was made in an effort to protect investors from volatile price swings and network uncertainty, the overall situation has left users confused and angry as Bitcoin Cash (now the BCHABC chain on most major exchanges), has fallen nearly 40% since the fork.

BCH via CoinCodex

A quick scan through the Coinbase Reddit reveals multiple threads of users complaining about the lack of communication from the Coinbase team, which, thus far, consists of one tweet saying they have no control over the situation.

One Reddit user expressed his discontent, stating, “I also now regret leaving my BCH on Coinbase. I won’t be leaving any crypto on Coinbase in the future. If I absolutely have to have it on an exchange Ill keep it on Binance from now on.”

Despite being a leader in the digital currency space, the exchange has left investors in the lurch for days as their portfolios bleed. While listing the second chain is undoubtedly risky, failing to reactivate trading entirely has cost investors far more than BSV going to zero.

We reached out to Coinbase for information on the Bitcoin Cash timeline but did not immediately receive a reply.

More: Reddit Thread
Related: 2Chains: Coinbase May Support Both Bitcoin Cash (BCH) Chains

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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