Coinbase found itself in the midst of technical challenges as some users woke up to zero balances in their digital wallets. CEO Brian Armstrong acknowledged the issue, attributing it to a staggering 10x surge in traffic that exceeded their load testing capacity.
Despite Coinbase’s assurances that customer assets were safe, the incident eroded trust among cryptocurrency traders. The timing was particularly critical as Bitcoin, the leading cryptocurrency, skyrocketed to nearly $64,000, a price range unseen since November 2021.
As users experienced difficulties making trades and accessing their accounts, Coinbase took to social media to communicate the problem. The exchange’s apps were in the process of recovery, but the incident raised questions about the platform’s ability to handle unforeseen surges in user activity.
Meanwhile, in the broader cryptocurrency market, Bitcoin’s price hit a remarkable high of $63,636 before retracing to the $60,000 range. Ethereum, the second-largest cryptocurrency, followed the trend with a 40% increase in the last month, reaching $3,492 before settling at $3,317.
The incident at Coinbase highlights the challenges exchanges face in maintaining stability during periods of intense market activity. It underscores the need for robust infrastructure and proactive measures to prevent technical glitches, especially when the broader cryptocurrency market experiences significant surges. As digital assets continue to gain prominence, exchanges must strike a balance between accommodating increased demand and ensuring the seamless functioning of their platforms.
The European Union (EU) is launching investigations into tech giants Apple, Google, and Meta (Facebook’s parent company) over concerns they might not be following a new law designed to promote fair competition in the digital market.
Google Chrome is on the brink of initiating a seismic shift that threatens to reshape the very foundation of the modern internet. The imminent demise…
In a highly anticipated market debut, Reddit stock took off, closing its first day of trading with a staggering 48% surge from its initial public offering (IPO) price of $34 per share. The social media giant’s stock concluded the day at $50.44, propelling its market capitalization to over $8 billion.
In a significant move in Vietnam’s corporate landscape, Vingroup, the country’s largest conglomerate, has completed the sale of a 41.5% stake and other assets in its retail arm, Vincom Retail, for a staggering $1.6 billion. This transaction ranks among the largest mergers and acquisitions (M&A) deals in Vietnam in recent years, underscoring the dynamism of the country’s economy and corporate sector.
The integration of artificial intelligence (AI) into various facets of healthcare has revolutionized patient care, and its impact on surgery is poised to be profound. Leveraging AI’s capabilities to connect, analyze, and predict based on operating room data holds the promise of enhancing surgical efficiency and clinical decision-making. Recognizing this potential, NVIDIA has partnered with Johnson & Johnson MedTech to explore new AI capabilities within the realm of surgery, with the goal of advancing the company’s connected digital ecosystem for surgical procedures.
Apple is reportedly in discussions with Alphabet, Google’s parent company, regarding the licensing of Google’s “Gemini” artificial intelligence (AI) training model for integration into iPhones.
An Illinois jury has delivered a significant verdict in a case involving Mead Johnson’s Enfamil baby formula, ordering the company to pay $60 million to the mother of a premature baby who died from an intestinal disease after consuming the formula.
In the fast-paced world of software development, innovation is the name of the game. Cognition, a leading tech company, has introduced a groundbreaking solution that promises to transform the industry as we know it: Devin AI, the world’s first AI software engineer. Devin AI is not just another tool in the developer’s toolbox; it’s a game-changer that leverages the power of artificial intelligence and machine learning to automate coding tasks and streamline the development process.
When it comes to acing a job interview, there are certain tactics that can help you stand out and impress prospective employers. From showcasing your passion for the role to demonstrating problem-solving skills, there are plenty of strategies to employ. However, it’s equally important to be mindful of phrases that could raise red flags during the interview process.
The ongoing saga between the United States and ByteDance, the Chinese tech giant behind the popular social media platform TikTok, has taken another turn. With the House approving a bill requiring ByteDance to divest TikTok within roughly six months, the possibility of a forced sale or effective ban looms large.
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Cultural differences between the East and the West
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Vietnam received recognition in the 29th World Travel Awards in numerous categories
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Vietnamese dishes that fascinate foreigners
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First NFT vending machine in the world is now operational in New York
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The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
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Coinbase Faces Technical Woes Amidst Bitcoin Surge to $64,000
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- Google Maps to revolutionize navigation with Satellite features, eliminating dead zones - April 22, 2024
- East Asia’s Growth Outpaces Global Average Amidst China’s Economic Challenges, Says World Bank - April 4, 2024
- EU Probes Apple, Google and Meta for Potential Violations of New Digital Law - March 27, 2024