Coinbase to Suspend Ethereum Transactions for Pectra Upgrade on May 7th

On May 7th at 3:05 AM PST, Coinbase is set to implement the highly anticipated Ethereum Pectra upgrade, as detailed in their recent announcement. This upgrade is crucial for enhancing the network’s performance and security. In light of the upgrade, Coinbase will halt all Ethereum deposits and withdrawals temporarily to safeguard user assets, with a suspension window lasting from 5:50 PM to 6:45 PM Beijing time. Post-upgrade, the exchange will promptly resume processing new staking requests after 6:45 PM, ensuring that existing staking positions remain intact. This meticulous approach underscores Coinbase’s commitment to maintaining the highest standards of security and user confidence amid ongoing developments in the crypto market. Trader awareness during this period is critical, as interruptions in transaction capabilities could impact trading strategies.