Bitcoin

Cryptocurrency exchange Coinbase has denied reports that it has introduced $5,000 weekly limits on Bitcoin&nbsp;(<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) withdrawals.
In a post, one user X (form. Twitter) claimed he had encountered a limitation on withdrawing Bitcoin from <a href="https://crypto.news/tag/coinbase/" data-type="link" data-id="https://crypto.news/tag/coinbase/" rel="noopener noreferrer nofollow">Coinbase</a>. The limit was $5,000 per week.
The post received over 250,000 views, over 420 retweets, and almost 2,000 likes. It also caught the attention of cryptocurrency researcher Chris Black, who asked if anyone could verify the claim made.
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 . <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Coinbase</a> is limiting bitcoin withdrawls. I just tried to send BTC from Coinbase to my cold wallet, and encountered a NEW $5k/wk withdrawl limit policy (implemented 10/13). I've been a Coinbase customer for 10 years. GET YOUR BITCOIN OFF EXCHANGES!!!!— Colin Brown (@thecolinbrown) <a href="https://twitter.com/thecolinbrown/status/1716573084780802447?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 23, 2023</a>
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It later turned out that there are no restrictions on withdrawing BTC to Coinbase. According to the user, exchange support contacted him and unblocked BTC.
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 “Unfortunately, they offered a pretty bullshit explanation about algorithms as to why it was frozen. I don’t want to be an alarmist, and this could have been an edge case.” <cite>X user</cite>
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However, the user was dissatisfied with the solution to the problem. He noted that self-sufficiency should be a protected principle of Bitcoin. If Coinbase support hadn’t seen the tweet, he would have been doomed to spend $5,000 a week to get his coin back slowly.
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 “Weekly withdrawal limits are an insipid attack on bitcoin.” <cite>X user</cite>
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Earlier, analysts at Berenberg Capital Markets <a href="https://www.theblock.co/post/257914/reports-of-hamas-crypto-use-could-blunt-impact-of-coinbase-lobbying-efforts-berenberg" target="_blank" rel="noopener noreferrer nofollow">said</a> that the influence of Coinbase’s lobbying efforts in the <a href="https://crypto.news/tag/united-states/" data-type="link" data-id="https://crypto.news/tag/united-states/" rel="noopener noreferrer nofollow">United States</a> is greatly weakened by reports of using cryptocurrencies by the Islamist organization Hamas.
A report says that Coinbase continues to face problems in the US despite its campaign to push Congress for more clarity on cryptocurrencies.
You might also like: <a href="https://crypto.news/coinbase-selects-germany-as-a-key-regional-talent-hub-amid-the-growing-shift-of-web3-firms-from-the-us/" rel="noopener noreferrer nofollow"> Coinbase selects Germany as a key regional talent hub amid the growing shift of web3 firms from the US </a>

Coinbase denies weekly $5k withdrawal limit on Bitcoin

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