Coinbase has just blocked all users from selling.

Again and again, we’re shown why we shouldn’t trust CEX’s and why self-custody is so important.

Every Coinbase user is suddenly showing 0 balance or no balance in their wallet. Right after it pumps insanely the last couple hours. No one can sell. What convenient timing for this glitch to happen.

Self-custody is literally so important and this is why. Robinhood pt 2. These CEX’s don’t want us to make money, they want them to make money. I’m 90% in self-custody, but even just having the 10% I have on the Coinbase CEX blocked is just rage inducing. I didn’t even want to sell but it’s the principle. How dare they. Genuinely.

Edit: some users are suggesting it might be a traffic surge, which is a different but potentially valid explanation. I do really hope this is a genuine mistake. Either way it still emphasises the importance of self-custody.

It’s about the choice being yours.

Edit 2 (19 hours later): to users asking what’s the point as you need a CEX to sell…you just send funds to any CEX of your choice. Advisably one that is working. Because self-custody gives you back the choice to do that. Your funds aren’t stuck in a CEX that is frozen.