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.
Tesla is recalling nearly 363,000 vehicles with its “Full Self-Driving” system to fix problems with the way it behaves around intersections and following posted speed limits.
Bea Dixon, CEO and Founder of The Honey Pot Company, joins Cheddar News to discuss the challenges Black women face in the health and wellness space, and her campaign about reclaiming wellness.
Fewer Americans filed for jobless benefits last week despite efforts by the Federal Reserve to loosen the labor market with higher interest rates as it tries to cool the economy.
