Coinbase: 0 balance Glitch in Coinbase, History, worth, Founders, Recent News And Everything To Know
Glitch Incident:
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- On February 28, 2024, Coinbase suffered a technical glitch that caused many users to see a zero balance when accessing their accounts.
- The glitch affected both the Coinbase app and the website.
- Users were greeted with an unexpected and alarming sight: their crypto holdings reduced to nothing.
- Bitcoin, which had just spiked to its highest level since November 2021, lost about $2,800 in a matter of minutes as reports of the outage spread on social media platforms.
- Coinbase promptly acknowledged the issue and assured users that their assets were safe.
- The company advised users to check the system status on their status page.
- One user even shared a screenshot showing a balance of $0.00 in their account.
Bitcoin Surge:
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- It’s worth noting that Bitcoin had been surging lately, reaching over $60,000 on that very day, with a collective market cap of nearly $1.2 trillion.
- Despite the glitch, the crypto market remained volatile and dynamic.
Coinbase History:
- Founded in 2012, Coinbase is one of the largest cryptocurrency exchanges globally.
- It offers a user-friendly platform for buying, selling, and also trading various cryptocurrencies.
- Coinbase has played a significant role in mainstreaming cryptocurrency and making it more accessible to individuals.
Current Worth:
Coinbase’s current market capitalization (as of March 5, 2024) is approximately $50 billion.
Founders:
- Brian Armstrong and Fred Ehrsam co-founded Coinbase in 2012.
- Both individuals remain actively involved in the company, with Armstrong serving as CEO and Ehrsam leading various initiatives.
Recent News:
- Coinbas is facing increased scrutiny from regulators around the world due to the growing cryptocurrency market.
- The platform is expanding its services by offering new features such as staking and non-fungible tokens (NFTs).
- The price of Bitcoin, the most popular cryptocurrency, has been volatile in recent months, impacting the overall cryptocurrency market.
Everything to Know:
- Coinbas is not the only cryptocurrency exchange to experience technical glitches. These incidents highlight the importance of choosing a reputable platform with robust security measures.
- Users should stay informed about potential risks associated with cryptocurrency investments. Also including price volatility and security threats.
- Always maintain strong passwords and enable two-factor authentication on your cryptocurrency accounts for added security.
What to Remember:
- While the recent glitch caused concern, it’s crucial to remember that user assets were not at risk.
- It’s essential to stay informed about any technical issues. Or also developments related to the platforms you use, including cryptocurrency exchanges.
- Diversifying your investments and conducting your own research is crucial before investing in any cryptocurrency.
Additional Resources:
- Official Website: https://www.c.com/home
- CoinMarketCap: https://coinmarketcap.com/ (Track cryptocurrency prices and market data)
- News Articles: Stay updated on recent news related to Coinbase and the cryptocurrency industry through reputable sources.
By understanding the recent glitch, Coinbase’s history and other key aspects, you can make informed decisions related to your cryptocurrency investments.
