Cryptocurrency

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 <p class="is-style-lead">Cryptocurrency exchange Coinbase has denied reports that it has introduced $5,000 <a rel="noopener noreferrer nofollow" title="weekly" href="https://thebittimes.com/tag/weekly.html">weekly</a> <a rel="noopener noreferrer nofollow" title="limit" href="https://thebittimes.com/tag/limit.html">limit</a>s on Bitcoin&nbsp;(BTC) <a rel="noopener noreferrer nofollow" title="withdrawal" href="https://thebittimes.com/tag/withdrawal.html">withdrawal</a>s.</p>
 <p>In a post, one user X (form. Twitter) claimed he had encountered a limitation on withdrawing Bitcoin from Coinbase. The limit was $5,000 per week.</p>
 <p>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.</p>
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">. @Coinbase 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!!!!</p>— Colin Brown (@thecolinbrown) October 23, 2023
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 <p>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.</p>
 <blockquote class="wp-block-quote">
  <p>“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.”</p> <cite>X user</cite>
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 <p>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.</p>
 <blockquote class="wp-block-quote">
  <p>“Weekly <a rel="noopener noreferrer nofollow" title="withdrawal" href="https://thebittimes.com/tag/withdrawal.html">withdrawal</a> <a rel="noopener noreferrer nofollow" title="limit" href="https://thebittimes.com/tag/limit.html">limit</a>s are an insipid attack on bitcoin.”</p> <cite>X user</cite>
 </blockquote>
 <p>Earlier, analysts at Berenberg Capital Markets said that the influence of Coinbase’s lobbying efforts in the United States is greatly weakened by reports of using cryptocurrencies by the Islamist organization Hamas.</p>
 <p>A report says that Coinbase continues to face problems in the US despite its campaign to push Congress for more clarity on cryptocurrencies.</p>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Coinbase selects Germany as a key regional talent hub amid the growing shift of web3 firms from the US
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-denies-weekly-5k-withdrawal-limit-on-bitcoin-tbt67508.html">https://thebittimes.com/coinbase-denies-weekly-5k-withdrawal-limit-on-bitcoin-tbt67508.html</a></p>

Coinbase denies weekly $5k withdrawal limit on Bitcoin

TheBitTimes

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