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.
Christopher Zara, News Director at Fast Company, breaks down Apple's $114 billion quarter, its foldable iPhone and new CEO John Ternus' first big test.
Emily Peck, Axios reporter and co-author of Axios Markets, breaks down AI funding, Anthropic’s IPO and how the midterms could threaten data center investments.
Tim Luckow, Co-Founder and CEO of Notes.fm, discusses $10 million in missing music royalties, AI’s impact on artist payments and the future of music ownership.
