Coinbase Struggles with Rising Memecoin Activity

Brian Armstrong, CEO of Coinbase, recently acknowledged the growing challenges his cryptocurrency exchange is facing due to a surge in memecoin trading. This increase, particularly with coins launched on the Solana network, has led to significant transaction delays on the platform, causing frustration among users. In response to user complaints about transaction delays, Armstrong explained, “Our team is currently working to scale our Solana infrastructure – we did not expect such a surge in activity over the past few days.” This statement underscores the difficulties the exchange encounters as it grapples with an unexpected rise in trading volume.

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