Coinbase CEO Says Solana Backlog Fixed, Plans Tier-1 Support for SOL

Coinbase CEO Brian Armstrong announced on Wednesday plans to improve the platform’s support for Solana (SOL) following the resolution of recent transaction delays that affected users.

We have the Solana backlog triaged, and transactions should generate quickly again. If your transaction got canceled you can retry it now – apologies for the trouble.

It’s clear we need to step up our game on Solana, scale our infrastructure, and provide native support for…

— Brian Armstrong (@brian_armstrong) January 22, 2025

In a statement on social media platform X, Armstrong acknowledged the issues and reiterated Coinbase’s commitment to providing comprehensive support for the blockchain, akin to what is already available for Bitcoin (BTC) and Ethereum (ETH).

Solana’s Adoption Accelerates Amid Challenges

Solana’s adoption has surged recently, particularly in DeFi, NFTs, and Web3 gaming.

However, Coinbase’s recent struggles with Solana transactions have highlighted the challenges of managing increased network activity.

Armstrong referred to these issues as “high-quality problems,” suggesting they reflect Solana’s increasing usage.

“Our goal is to provide tier-1 support for Solana, with the same level of support as Bitcoin, Ethereum, and Base,” Armstrong said, referencing Coinbase’s layer-2 blockchain, which also faced delays during high-demand periods.

“The surge in activity is great for the ecosystem, but we need to do a better job serving our customers during periods of high demand,” he added.

Armstrong’s commitment to tier-1 support for SOL signals an infrastructure upgrade to support Solana’s rapid growth.

Native support for DEXs and memecoin trading could make Solana more accessible to retail users, addressing one of the primary pain points in the network’s adoption.

Solana’s activity has been on the rise, driven by its low fees and fast transactions, making it a go-to blockchain for developers and traders.

By prioritizing Solana alongside BTC and ETH, Coinbase could solidify its position as a major entry point for users in the growing Solana sector.

At the time of writing, SOL is trading at $267.67, reflecting a 6.09% increase over the past 24 hours and ranking fifth according to Cryptonews data.

Coinbase CEO Backs Global Bitcoin Strategic Reserves Initiative

Armstrong recently endorsed a proposal urging global leaders to create Bitcoin strategic reserves.

🚀 @brian_armstrong, CEO of @Coinbase, has publicly endorsed a proposal for global leaders to establish Bitcoin strategic reserves. #Bitcoin #Coinbasehttps://t.co/CU0FNese5m

— Cryptonews.com (@cryptonews) January 18, 2025

In a January 17 blog post discussing “economic freedom,” he highlighted cryptocurrencies as “the next chapter of capitalism” and outlined steps for governments to embrace digital assets in 2025.

His recommendations include passing crypto-friendly legislation, enhancing government efficiency, establishing special economic zones, and adopting Bitcoin reserves to counter inflation.