- Coinbase has reduced unnecessary account freezes by 82%, addressing a major user concern through improved machine learning systems.
- Coinbase also launched wrapped XRP and Dogecoin on its Base network, giving users access to new DeFi opportunities.
Coinbase Slashes Account Freezes by 82%—Users Finally See Relief
Coinbase is making waves again—but this time, for all the right reasons. In a June 6 post, CEO Brian Armstrong proudly announced that the platform has reduced unnecessary account freezes by an impressive 82%. This move addresses one of the most frequent and painful complaints from users: being locked out of their funds with little explanation or support.
Driven by a revamped machine learning system and internal reforms led by product team member Dor Levi, the update represents a meaningful step toward restoring trust. Armstrong acknowledged past failures, noting, “For longer than is acceptable, account restrictions have been a major pain point.”
While the company pledges to continue restricting accounts when legally mandated, it now aims to minimize false positives and make its decision-making process more transparent.
DeFi Just Got Bigger: Wrapped XRP and DOGE Now Live on Base
Alongside the customer service overhaul, Coinbase is pushing ahead on the innovation front. The exchange has launched wrapped versions of XRP and Dogecoin (cbXRP and cbDOGE) on its Layer-2 Base network, unlocking new decentralized finance (DeFi) opportunities for users.
This means XRP and DOGE holders can now access DeFi yield strategies without leaving the Coinbase ecosystem. Coinbase designed this move to bridge mainstream tokens with the growing DeFi infrastructure on Base, which has rapidly gained traction as its native Ethereum Layer-2 solution.By wrapping two of the most popular digital assets, Coinbase is signaling its commitment to making DeFi more accessible and inclusive.
Security Still Under the Microscope
Despite these advancements, the shadow of a major data breach still looms. The recent revelation that bad actors bribed offshore contractors to access over 70,000 user accounts has intensified pressure on Coinbase to fortify its security measures. Armstrong has pledged a “significant strengthening” of internal controls to prevent future breaches.
Trust Is Earned, Not Claimed
With over 100 million users and a leading role in crypto custody for ETFs, Coinbase can’t afford missteps. The 82% drop in account freezes and the expansion into DeFi with XRP and DOGE are encouraging signs. Still, full recovery of trust will depend on consistent follow-through and stronger security protocols.
