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.
Costco shares fell in afterhours trading after the company saw total revenue fall slightly shy of Wall Street estimates while e-commerce sales tumbled 9.6%.
Alex Morris, chief investment officer with F/M Investments, joined Cheddar News to discuss near session highs in Thursday's trading despite soaring yields.
In this photo illustration, a silhouetted woman holds a smartphone with the Neuralink logo displayed on the screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)
Character design studio Superplastic recently raised $20 million in a Series A round. Paul Budnitz, founder and CEO of Superplastic, joined Cheddar News to discuss the financing and a new collaboration with Amazon to develop a new series.
About 45% of American households invest in REITs. Jeremy Pagan, research analyst with Morningstar Inc., joined Cheddar News to explain the pros and cons of investing in REITs.
