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.
Cheddar News takes a peek at another day of earnings, this time from Roku, Shopify, Twilio and Kraft Heinz along with a look at January retail sales numbers as well as other economic data.
Mattel is bringing back Barney in an animated version.
Buzzfeed is launching its AI-powered content generation feature called Infinity Quizzes in partnership with OpenAI.
Airbnb topped estimates in the latest quarter and reported its first profitable year. The company also gave a favorable first-quarter outlook, citing strong travel demand.
Mark Walker, co-founder and CEO, Direct Digital Holdings & Keith Smith, co-founder and President, Direct Digital Holdings, join Cheddar News to discuss the meaning behind launching just the ninth black-owned company to ever go public in the U.S., how Black History has impacted their careers, and how they plan to grow the company.
Lorenzo Esparza, CEO of investment firm Manhattan West, joined Cheddar News after a mixed day on the trading floor after the release of CPI data and his thoughts on what lies ahead with inflation.
Tesla is changing prices for some of its electric vehicles for the fourth time this year.
Emily Irwin, managing director of advice & planning for Wells Fargo’s wealth & investment management arm, joined Cheddar News to discuss financial red flags when finding a partner.
Shai Eisenman, founder and CEO at Bubble Skincare, joined Cheddar News to discuss the company's product line geared for younger skin and how it's expanded its footprint with some big-name retailers.
Boeing saw lower order numbers and deliveries last month.
