In an interesting turn of events, Coinbase has decided to add Bitcoin Cash to it's list of offerings. Below is an email I just received from Coinbase stating that they have the BCH belonging to customers who had Bitcoin in their Coinbase Wallet at the time of the BCH fork and customers will receive their BCH by January 1st, 2018.
Wait, wut?! You read that right, January 1st, 2018. So basically, they have your money, but you can't have it until it's most likely going to be worthless. LOL!
My guess is, this is a reaction to all the threats of lawsuits being made by customers over Coinbase's handling of this fork. They made the announcement recommending those who wanted BCH to move coins out of Coinbase. That is true. What is also true, is that there are many Coinbase customers with balances many times the daily withdrawal limits. Maybe not everyone could get their coins off of their Coinbase Wallet due to these withdrawal limits and the short window of opportunity they had to actually move their coins. Maybe they were unaware of the upcoming fork, not all hodlers watch the Bitcoin price or news constantly.
Whatever the reason, they should've known people weren't just going to let them keep coins that don't belong to them. Even if they don't want to support the chain on their exchange, at least allow those who didn't wihdraw their BTC in time a way to withdraw the split coins.
Hopefully Coinbase will learn something from this. If you're going to be the custodian of other people's money, make sure they get all that's coming to them. Even if it is a shitcoin.
Disclaimer: I actually like Coinbase and have used them for years to buy my Bitcoin.
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