Coinbase users took to social media and Reddit to complain about glitches on the platform. Coinbase says the root of the problem is credit card processing managed by Visa. But, Visa says they didn't cause the problem. Russell Brandom, Reporter at The Verge, explains the implications of these problems on the platform.
"This was going on for three weeks, and we're talking about thousands of dollars disappearing from people's accounts. That's kind of the worst thing that could happen for a service," said Brandom. "Coinbase has to take a lot of blame for this."
Bitcoin rebounded this week, trading above $10,000 for a short time. It still remains far from its all-time high of $19,000.
Brandom says Coinbase is getting most of the pie right now, but it should expect more and more competitors to emerge as this market continues to grow.
Michele Schneider, partner and director of trading research & education for MarketGauge.com, joined Cheddar News to discuss the market after stocks closed lower again as banking concerns continue.
Immi is an Asian-American food brand that makes the world's first low-carb, high-protein and fully plant-based instant ramen. Kevin Lee, co-founder of immi, joined Cheddar News to discuss the company, which is backed by tennis superstar Naomi Osaka, R&B singer Usher and speed skater Apolo Ohno.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
