“Coinbase firmly squashes speculations surrounding Bitcoin withdrawal limits, affirming their commitment to empowering users with seamless and unrestricted access to their digital assets.”
Crypto exchange Coinbase has denied rumors that it implemented a $5,000-per-week limit on Bitcoin (BTC) withdrawals. The rumors began when a user on social media claimed that Coinbase had restricted their BTC withdrawals to a maximum of $5,000 per week. The post gained significant attention and was even shared by crypto researcher Chris Blec, who questioned the validity of the claim. However, a spokesperson from Coinbase stated that these claims were false and that there was no such policy in place. They clarified that the withdrawal process is dependent on the payment method used and advised users to refer to Coinbase’s official policy on account limits and withdrawals. The rumors of withdrawal limits coincided with a brief difficulty in processing trades on Coinbase. The exchange experienced issues starting at 6 pm UTC on October 23 but later resolved the problem. These delays occurred during a period of high trading activity, with the price of Bitcoin surging to $35,000.