CoinbaseEffect

#TRUMP
#CoinbaseEffect
U.S. President Donald Trump doubled down on enacting crypto-friendly regulation in surprise remarks given at Coinbase’s 2025 State of Crypto Summit on Thursday.
Donald Trump Slams Biden Administration in New Remarks
Speaking via pre-recorded remarks, Trump criticized the Biden administration’s regulatory stance toward digital assets and reiterated his campaign pledge to make America the “crypto capital” of the world.
“Starting on day one, we ended the Biden administration’s war on crypto,” Trump said. “It was an absolute war and very unfair.”
“We ended Operation Chokepoint 2.0, I created the first presidential working group on digital assets, I named a pro-freedom, pro-innovation SEC chair—a great man named Paul Atkins—and we created the U.S. Strategic Bitcoin Reserve and the United States Digital Asset Stockpile,” he added.
Trump also noted that his administration is “not done yet” when it comes to making moves in crypto, claiming that they plan to enact “clear and simple market frameworks that will allow America to dominate the future of crypto and Bitcoin.”
“My administration is working with Congress to pass the GENIUS Act, supporting the creation of dollar-backed stablecoins,” he said.
The GENIUS Act Faces Key Senate Vote
Trump’s remarks come as the Senate has scheduled the final vote on the GENIUS Act for June 17. If passed, the stablecoin-focused legislation would proceed to the House of Representatives for approval.
Critics of the GENIUS Act claim it is inherently corrupt, given that the Trump-affiliated World Liberty Financial recently launched its new stablecoin known as USD1.
“The American people deserve the unwavering assurance that access to the presidency is not being offered for sale to the highest bidder in exchange for the President’s own financial gain,” the U.S. lawmakers said in an April 25 letter.
Trump has denied profiting from the cryptocurrency, although a new report from Forbes shows that he has amassed $1 billion from his crypto ventures as a whole.

Follow 🔥 Stay tuned for more updates 🚀😍🚀

#BinanceAlphaAlert $BTC
📊🔥 Getting listed on Binance Alpha is a major milestone for any token. Increased visibility often leads to liquidity boosts and price movements. But will TST sustain momentum, or will it face initial hype followed by corrections?
#Ethereum! #CoinbaseEffect #trading #CryptoNews🔒📰🚫

On May 15, 2025, Coinbase, the largest cryptocurrency exchange in the United States, revealed that it had suffered a significant cyberattack that could result in financial damages ranging from $180 million to $400 million. The breach, which affected a small portion of its customer base, was orchestrated with the help of insiders who were allegedly bribed by cybercriminals.
Insider Exploitation and Data Breach
Hackers reportedly bribed several overseas contractors and support staff to gain unauthorized access to internal systems. This allowed them to extract sensitive customer data, including names, email addresses, and home addresses. Although no passwords, wallet keys, or direct crypto assets were compromised, the exposed information was later used in sophisticated phishing campaigns. In these scams, attackers posed as Coinbase support personnel to trick users into transferring their cryptocurrency holdings to fraudulent wallets
Company Response and Ransom Demand
Coinbase confirmed that the attackers demanded a ransom of $20 million in Bitcoin in exchange for not leaking the stolen data. Refusing to comply, Coinbase instead offered a $20 million reward for information leading to the identification and prosecution of the perpetrators. The company has also stated that all involved employees and contractors were terminated immediately.
Financial and Market Repercussions
The company has set aside a reserve of up to $400 million to cover potential losses and customer reimbursements. Following the news, Coinbase shares fell nearly 3% in premarket trading, signaling market concern over the exchange’s cybersecurity protocols.
Wider Industry Impact
This breach is yet another example of the growing risks in the crypto space. In 2024 alone, hackers stole over $2.2 billion from various platforms, raising serious concerns about internal security and third-party vendor reliability. Coinbase’s case particularly underscores the dangers of insider threats in the digital finance industry

Conclusion

While Coinbase’s swift response and transparency have been noted positively, this incident is a stark reminder of the ongoing security challenges facing crypto exchanges. Strengthening internal controls and improving employee vetting processes will be crucial for the company to rebuild user trust and ensure long-term resilience in an increasingly hostile digital environment.#CryptoRegulation #BinanceAlphaAlert #CoinbaseEffect #CryptoCPIWatch #TradeStories $BTC $XRP
$SOL

Coinbase’s CEO unveils a bold plan to end failed lobbying, channeling tech money into pro-innovation candidates and rallying millions to reshape Washington’s future.
Coinbase Ends Decade of Failed Policy – Armstrong Reveals the Bold New Plan
Brian Armstrong, CEO of crypto exchange Coinbase (Nasdaq: COIN), has emerged as a prominent advocate for reshaping how the tech industry engages with Washington D.C.
“Tech will continue to have lots of influence in DC as long as we keep supporting candidates who are pro-tech and pro-business, regardless of which party they are in,” Armstrong remarked in a post on social media platform X on Monday. The Coinbase boss added:
It sounds crazy, but most tech policy for the last decade was giving money to people who hated us, to try and ameliorate them.
“This totally failed (and should have been obvious in hindsight),” he opined. His comments responded to a post on X by Newlimit co-founder Blake Byers, who wrote: “Silicon Valley has flipped Wall Street for power in DC. Surprisingly, it happened with a Republican elect even though Democrats have held a massive majority in tech forever. This is a few years behind tech flipping Hollywood for cultural power but still much faster than I had expected.”
Armstrong’s stance reflects Silicon Valley’s growing frustration with traditional lobbying tactics that prioritize appeasing lawmakers over fostering long-term growth. His critique highlights a broader shift in the tech industry, where companies previously spread political donations across parties to mitigate regulatory pressure. As scrutiny around cryptocurrencies, AI, and emerging technologies increases, Armstrong advocates for selectively supporting candidates who champion innovation and economic growth, rather than engaging with politicians skeptical of the industry.
This approach is already taking shape through Coinbase’s “Stand with Crypto” initiative, a grassroots movement aimed at rallying voter support for crypto-friendly legislation. The campaign has drawn millions of supporters who are eager to see policies that nurture blockchain technology and digital assets, rather than stifle them with restrictive regulations.
In the lead-up to the 2024 election, the cryptocurrency industry has backed Donald Trump’s campaign due to his pro-crypto stance. Digital asset firms also made separate donations to his inauguration efforts. Ripple pledged $5 million in XRP to the Trump-Vance Inaugural Committee, while Coinbase and Kraken each contributed $1 million.

Coinbase, one of the largest cryptocurrency exchanges, has come under intense scrutiny for its inability to prevent widespread scams while simultaneously restricting user access to accounts. A recent investigation by blockchain analyst ZachXBT reveals that cybercriminals steal more than $300 million per year from Coinbase users, with $65 million disappearing in just the last two months. Despite the alarming scale of these thefts, critics argue that Coinbase has made little progress in addressing the issue.

Many users have reported being locked out of their accounts without warning, preventing them from recovering lost funds. A Coinbase customer, Hudson Jameson, expressed frustration over the company’s actions, stating that his account was restricted from sending crypto without explanation, though he was still allowed to convert assets to USD and withdraw funds. This lack of transparency has fueled growing dissatisfaction among the platform's users.

Scammers Exploit Phishing & Social Engineering Tactics 🔥🔥

Fraudsters employ advanced social engineering tactics to deceive users into granting access to their accounts. One common scheme involves fake Coinbase support calls, where scammers claim unauthorized login attempts have been detected. Using stolen personal information, they convince victims to disclose sensitive credentials. To counter these attacks, Coinbase has reminded users that the company never initiates phone calls for account-related issues.

Phishing scams are another major concern, with fraudsters impersonating Coinbase via emails and fake case IDs to trick users into visiting fraudulent websites. Victims unknowingly enter their credentials, allowing scammers to take over accounts and drain funds in minutes. Some scams even involve directing users to so-called “secure” wallets, which are secretly controlled by attackers. ZachXBT’s report also reveals that criminal networks sell access to phishing control panels via Telegram, enabling new scammers to replicate Coinbase’s interface and deceive more victims.

🚀🚀🚀Coinbase's Security Measures Under Fire

One of the biggest criticisms leveled at Coinbase is its failure to block known scam addresses despite having access to compliance tools that could flag fraudulent transactions. Many stolen funds are transferred to addresses that have been linked to previous thefts, yet the exchange continues to process these transactions without intervention. Additionally, users seeking assistance often report unhelpful customer support and unresolved complaints, further eroding trust in the platform.

To mitigate these security risks, experts are urging Coinbase to implement several critical changes, such as eliminating phone numbers as a default recovery method, offering enhanced security measures for elderly users, and strengthening phishing detection systems. Without urgent action, losses will continue to mount, and confidence in the platform will decline even further.

✨✨✨Growing Threat of Physical Crypto Attacks

Beyond online scams, physical attacks on crypto holders are on the rise, signaling a dangerous shift in criminal tactics. Cases of direct coercion and violence have surged, with 18 incidents reported in 2023, 24 in 2024, and eight already recorded in January 2025. This growing trend highlights how criminals are moving beyond cyber theft to force victims into transferring digital assets through threats and physical harm.

A particularly concerning method, known as “wrench attacks,” involves assailants using brute force to extract crypto holdings from victims. Unlike cyber hacks, these crimes are instant and difficult to trace, making them an increasingly attractive option for criminals. To combat this threat, security firms are developing insurance solutions, such as AnchorWatch’s Bitcoin robbery policy, which covers up to $100 million in losses for victims of violent crypto-related crimes. However, the policy excludes hacking incidents and government seizures, underscoring the unique risks posed by physical crypto theft.

As cryptocurrency adoption grows, both digital and physical security risks are escalating, leaving investors increasingly vulnerable. Without stronger protective measures from platforms like Coinbase, users must remain vigilant and take proactive steps to safeguard their assets.
#CoinbaseExchange. #CoinbaseEffect

Armstrong's push for onchain interest in stablecoins makes sense from both a competitive and macroeconomic standpoint. If stablecoin issuers could pass interest directly to holders, it would create a compelling alternative to traditional bank savings accounts, which offer much lower yields.
The regulatory hurdle seems to be that both the STABLE and GENIUS Acts, as currently drafted, prevent stablecoin issuers from paying interest, treating them more like cash equivalents than investment vehicles. This keeps them in a payments-focused framework rather than a financial instrument category that could compete with bank deposits or money market funds.
Armstrong’s argument that allowing onchain interest would strengthen dollar dominance is particularly interesting. If more global users opt for USD-pegged stablecoins because they offer yield, it could increase demand for U.S. Treasuries, reinforcing the dollar's role in global finance.
It’ll be worth watching how lawmakers reconcile these competing visions. If they open the door to interest-bearing stablecoins, it could reshape how capital flows in crypto and beyond. Do you think regulators will eventually give in to this idea, or will they maintain the current restrictions?
#coinbase #CoinbaseEffect #CoinbaseListing

Coinbase is facing a class action lawsuit from shareholders accusing the company of "hiding" the data breach incident and violating FCA regulations, leading to a sharp drop in stock prices causing losses for investors.
Coinbase is facing a class action lawsuit for "hiding" a security vulnerability
Allegations of violations with the FCA and "hiding" the data breach incident
The crypto exchange Coinbase is facing a class action lawsuit from shareholders regarding the failure to disclose the user data breach incident and violation of the agreement with the UK Financial Conduct Authority (FCA). The lawsuit was filed on May 22, 2025, in the Eastern District of Pennsylvania federal court by investor Brady Nessler.

#BTCNextATH?
🚀📈 Apart from macroeconomic trends, Bitcoin’s rally has been supported by ETFs, growing retail adoption, and reduced selling pressure from long-term holders. If these factors remain strong, BTC could continue its ascent. However, any sudden market shocks could trigger corrections.
#Bitcoin❗ #Ethereum✅ #CoinbaseEffect #TradingSignals