Common use of Digital Asset Storage and Transmission Delays Clause in Contracts

Digital Asset Storage and Transmission Delays. Without prejudice to the requirements set forth in Addendum No. 1 to the Coinbase Prime Broker Agreement, Coinbase Custody may require up to twenty-four (24) hours between any request to withdraw Digital Assets from Client’s Cold Vault Balance and submission of Client’s withdrawal to the applicable Digital Asset network. Since Coinbase Custody securely stores all Digital Asset private keys in offline storage, it may be necessary to retrieve certain information from offline storage in order to facilitate a withdrawal in accordance with Client’s Instructions, which may delay the initiation or crediting of such withdrawal from the Client’s Cold Vault Balance. Client acknowledges and agrees that a Custody Transaction may be delayed from the Client’s Cold Vault Balance for up to twenty-four (24) hours’ notice initiated from Client’s Custodial Account. The time of such request shall be the time such notice is transmitted from Client’s Cold Vault Balance. All Digital Assets in “hot” storage are not subject to the twenty-four hour delay described in this Section 2.3 and are subject to delays related to the network or blockchain on which the transaction is processed (or while Coinbase Custody waits for or to verify particular client Instructions).

Digital Asset Storage and Transmission Delays. Without prejudice to the requirements set forth in Addendum No. 1 2 to the Coinbase Prime Broker Agreement, Coinbase Custody may require up to twenty-four (24) hours between any request to withdraw Digital Assets from Client’s Cold Vault Balance and submission of Client’s withdrawal to the applicable Digital Asset network. Since Coinbase Custody securely stores all Digital Asset private keys in offline storage, it may be necessary to retrieve certain information from offline storage in order to facilitate a withdrawal in accordance with Client’s Instructions, which may delay the initiation or crediting of such withdrawal from the Client’s Cold Vault Balance. Client acknowledges and agrees that a Custody Transaction may be delayed from the Client’s Cold Vault Balance for up to twenty-four (24) hours’ notice initiated from Client’s Custodial Account. The time of such request shall be the time such notice is transmitted from Client’s Cold Vault Balance. All Digital Assets in “hot” storage are not subject to the twenty-four hour delay described in this Section 2.3 and are subject to delays related to the network or blockchain on which the transaction is processed (or while Coinbase Custody waits for or to verify particular client Instructions).