Maybe they are working on fixing this:
According to the report, Coinbase’s new
customer service executive, Tina Bhatnagar, wants to centralize the operations of the department. As a result, some members of the remote support team have been laid off, while others have been offered to relocate to one of the company’s offices. In a written statement, Coinbase commented: “We’ve learned that certain teams who are co-located are more efficient, effective
, and happier in their roles. So moving forward, some teams – Including Support, Fraud, and Compliance – will only hire employees into Coinbase offices.”
Emphasis is mine. Source: https://news.bitcoin.com/the-daily-coin ... ainst-ban/
In regards to this post, I think that this is probably a step backward. I'm not a human resources expert, but my experience is that employees tend to be happier when they are given the opportunity to control their own lives and schedules. I don't tell Constance and Vance that they have to be at a specific location and work from 8 to 5. There is a maximum amount of high-quality work that a person can accomplish in a day, and enforcing a schedule just causes employees to waste time surfing the Internet during the rest of the day when a person isn't at optimal efficiency. It also wastes money and increases danger by making people drive miles in each direction when they spend 99% of their office time sitting in front of a monitor alone anyway. A better choice is to allow a person to plow through work when (s)he is efficient, and to do other things when (s)he is not, so that the periods of efficiency are maximized, no matter when in the day they are.
As we are also seeing with the US government, rules and procedures don't matter. All that matters is the character of the people doing the work. When you have good, hardworking, ethical people working for you (or for your country), then you get good results. If you have unethical slackers working for you, then bad things happen. Coinbase's troubles with customer service will not be resolved by forcing all employees to go to an office from 8 to 5, unless by chance the people who are hired end up being higher quality people than those who were fired. Only the people matter.
To update everyone about the initial post in this thread, I'm pleased to announce that Coinbase successfully resolved this issue. The customer service representative said that the business account had been flagged for a "regular review." Once they completed the review, they found no issues and re-enabled the account. No additional action is necessary on our or customers' part. If you disconnected your Coinbase account, then you should reconnect the account to resume payouts. Because Coinbase payouts are not conducted on-chain, they occur as often as possible and customers who reconnect accounts will see payouts occur much more quickly than the once-daily payouts of other coins. Some payouts totaling more than $1800 each have already started to be executed.
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Thanks for your patience! Your business account was flagged for a review and was pending the review. We were able to review your account and you should be good to go now.
We're hiring! - www.coinbase.com/careers
I will now reply to and close all the tickets about the Coinbase issues over the next hour. I also contacted Forbes and the other media outlets to inform them that the issue had been resolved and will direct them to this post to show the resolution if they were already writing a story anyway.
You can make your own judgment about how Coinbase handled this issue, based upon the information in the original post. One major flaw in their procedure is that they allow an application that has been running for four years to be disabled by default instead of simply flagging these regular reviews and only disabling reviewed applications after the review if something is found to be wrong.
Once this issue was brought to their attention through public channels, they did get it resolved in five days. However, most customers would not receive the attention of thousands of people like I did when I published this thread. There are undoubtedly many customers who are stuck in their support queue whose tickets will be closed without a reply. I imagine that most of those customers will stop being customers. Do a search for "coinbase reviews" on Google and you'll see tens of thousands of 1-star reviews about their customer service. Coinbase has lost thousands of customers and many more dollars due to these devastating reviews.
Rumors abound that Coinbase is going to make an IPO soon. Investing in a Coinbase IPO is already a bad idea for unrelated reasons (Coinbase's value will go up only if there is more trading volume, but if that happens, then coin prices will rise faster than the stock's price), but I suspect that their poor reputation is going to drag down the company's price on an IPO because anyone who searches for them will see a litany of complaints about their support.
In conclusion, this issue is finally closed. Feel free to submit a support ticket if you have any questions about Coinbase payouts, now that they have been re-enabled. Happy mining!
Coinbase has a lot of work to do, but at least this is a start.