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.
Darren Jones, President, UPS Central Plains, joins Cheddar News to discuss UPS's first-ever jobs and opportunity report while offering advice to job-seekers amid widespread layoffs and economic uncertainty.
UN Secretary-General António Guterres on Wednesday called out ExxonMobil for withholding highly accurate predictions about the impact of climate change.
Microsoft is cutting 10,000 workers, almost 5% of its workforce, in response to what it described as “macroeconomic conditions and changing customer priorities.”
Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight monthly slowdown and a hopeful sign that inflation pressures will continue to cool.
