Author: John Smith
Coinbase CEO is “optimistic” about Senate passing stablecoin legislation soon, despite recent setbacks. A key Senate vote on the bill failed last week due to Democratic concerns, including potential benefits for Trump. Coinbase is set to join the S&P 500, a move Armstrong calls a sign “crypto’s here to stay.” Coinbase CEO Brian Armstrong conveyed a sense of hope on Wednesday regarding the potential passage of landmark stablecoin legislation in the US Senate, possibly as early as this week. His remarks came even as the bill faces significant headwinds and recent setbacks that have compelled lawmakers to intensify their negotiations.…
Attackers bribed support staff to access internal tools. $20M ransom demand redirected into reward fund. New protections live ahead of S&P 500 entry. Coinbase has disclosed a targeted cyberattack involving bribed overseas contractors, resulting in a significant data breach that impacted less than 1% of its monthly active users. While no funds, passwords, or private keys were exposed, the attackers accessed internal systems and extracted sensitive customer information. The incident highlights growing concerns over insider threats in centralised crypto platforms and comes at a crucial moment, with Coinbase preparing for its inclusion in the S&P 500 index. The company has…
Stock slips 6% after report on federal investigation. The regulatory scrutiny comes as Coinbase deals with the aftermath of a cybersecurity breach disclosed earlier in the day. Hackers reportedly stole customer data and are demanding a $20 million ransom. Coinbase confirmed Thursday that the US Securities and Exchange Commission is investigating whether the company overstated user numbers in prior disclosures. The development, first reported by The New York Times, contributed to a decline of about 6% in Coinbase shares during the session. The inquiry centers on Coinbase’s reporting of “verified users,” a metric the company has cited in filings…
Coinbase refused to pay a $20 million ransom after a separate data breach. A class-action lawsuit accuses Coinbase of withholding key risk information. The FCA fined Coinbase $4.5 million for compliance failures tied to the breach. A global spoofing scheme that siphoned off more than $20,000,000 in cryptocurrency by impersonating Coinbase has been dismantled with help from the exchange itself. The takedown, carried out by US law enforcement in partnership with Coinbase’s legal and security teams, resulted in the arrest of Chirag Tomar, identified as the ringleader behind the elaborate scam. While the move is seen as a major step…
JPMorgan Chase cards can be used for crypto purchases on Coinbase this fall. Chase rewards points will be redeemable for USDC starting in 2026. JPMorgan Chase accounts to link directly with Coinbase for easy transfers. In a landmark move signalling the deepening ties between traditional finance and digital assets, Coinbase and JPMorgan Chase have announced a strategic partnership aimed at making crypto more accessible to millions of Americans. This collaboration brings together the largest US bank and one of the most influential cryptocurrency exchanges, introducing a range of new features set to roll out starting this fall and continuing into…
Circle is preparing for its initial public offering, with BlackRock and ARK reportedly interested in acquiring shares. Source link
Both parties have already delayed the pre-trial motion submission date twice and have now asked a judge to grant another two-week extension. Source link
Adam Back’s BSTR Inc. is the fourth largest publicly traded BTC treasury company, yet questions about the source of its coins linger. Source link
The GENIUS Act forbids any interest payments by Circle to USDC holders, causing them to venture elsewhere for APRs of 59% or beyond. Source link
Bank of International Settlements researchers have quantified a few basis points of measurable impact from stablecoins on US Treasuries. Source link