The Presidential Daily Brief

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    Digital Currency Exchange Users Report Unauthorized Charges

    Everyone’s being thrown off balance. Users on Reddit, Twitter and other forums are complaining that cryptocurrency exchange startup Coinbase has been repeating transactions unprompted, emptying users’ bank accounts and incurring overdraft fees. The company’s transactions were recently reclassified as “cash advances” by most banks and card companies, and Coinbase blamed Visa for the mess, saying it retroactively applied that change to payments made after Jan. 22, recharging and refunding all transactions. Coinbase promised to repay overdraft fees, but this blunder could cause customers to shy away from the relatively new startup.

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