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Coinbase faces a $400 million phishing bill after cybercriminals managed to bribe overseas support agents to expose the personal data of the exchange’s users. News broke on May 15 that Coinbase was the target of a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data for social engineering scams. While less than 1% of Coinbase’s active monthly users were reportedly affected, the expected remediation and reimbursement expenses range from $180 million to $400 million, as the exchange pledged to repay all phishing attack victims. Despite the attack on the world’s third-largest cryptocurrency exchange, investor sentiment remains optimistic, with the Fear & Greed Index remaining firmly in the “Greed” zone above 69, according to CoinMarketCap data. Read more

Coinbase user Data Hacked, FTX Repayments Coming, Bond Yields soar FOMO HOUR EP359 Hackers demand $20m after Coinbase data hacked. SEC probes Coinbase on inflating user numbers. FTX to begin $5b distribution on May 30. Wisconsin Investment Board exits BTC ETF. China’s DDC Enterprise to adopt BTC reserves. China’s Addentax to buy 8k BTC. Brazil’s Meliuz buys $28.4m BTC for reserve. BTC to $1m, altcoins with products will win: Hayes. BTC has more upside potential than gold: JPM. SEC releases FAQs on broker-dealer transfer rules. BlackRock integrates BUIDL with Euler. Sonic Labs to liquidate Multichain Foundation. Nasdaq grants extension on 21Shares DOT ETF. ADA ETF approval 55% likely this year. Tether’s freeze mechanism has loophole: AMLBot. US DoJ indicts 12 for $263m crypto theft. US DoJ to charge Tornado Cash’s Roman. CoinMarketCap launches Pre-TGE project launchpad. FOMO HOUR brings you the biggest daily news, updates and events from inside and outside of the crypto and macro spheres! Join hosts Farokh, Ma...

The US Senate is expected to take up another vote on the GENIUS Act within days, but it's unclear whether the bill's supporters will address concerns from Democrats. Coinbase chief legal officer Paul Grewal addressed some of the concerns raised by US lawmakers and industry leaders around President Donald Trump’s crypto ventures, and how they may affect related legislation. Speaking at the Consensus conference in Toronto on May 15, Grewal said there had been “hiccups” in Congress since the Senate Banking Committee voted to advance the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in March. Though Grewal said there were disputes over “substantial issues that need to be addressed” in the bill, he hinted that Trump’s involvement in the industry was a “complicating factor.”  “The discussion around the president's support for a certain memecoin or two and other efforts does add a certain level of challenge to the effort to get Democrats and Republicans aligned on the right way to r...

The US Securities and Exchange Commission (SEC) is investigating Coinbase to determine whether it misrepresented the number of users on its platform. Coinbase confirmed the news on May 15 after a New York Times article revealed the probe and reported that it had been ongoing since the Biden administration. The report, combined with the exchange […] The post Coinbase confirms Biden-era SEC probe over ‘verified users’ is still ongoing appeared first on CryptoSlate.

Alliance DAO contributor Qiao Wang has detailed a sophisticated social engineering scam targeting Coinbase users amid the firm’s insider-led data breach incident. In a May 15 post on social media, Wang revealed how attackers impersonate exchange staff using personal data obtained through a recent internal breach. Individuals contacted him, claiming to represent Coinbase and warning […] The post How an insider-led breach sparked a costly scam at Coinbase appeared first on CryptoSlate.

All the Coinbase customer service agents whom cybercriminals allegedly bribed to gain access to user data were based in India, according to Philip Martin. Coinbase has reportedly fired a group of customer support agents following their alleged involvement in social engineering attacks on users. The contracted agents were based in India. According to a May 15 Fortune interview, Coinbase's chief security officer, Philip Martin, said the company flagged customer support contractors who allowed scammers access to user data, suggesting they could be Indian nationals. The CSO’s comments came after some crypto users reeled from attempted phishing attacks using their Coinbase data, which the exchange estimated could cost them between $180 million and $400 million in remediation and reimbursement. Qiao Wang, a core contributor to Alliance DAO, said in a May 15 X post that he may have been a victim of one of these attacks. He said a scammer notified him his Coinbase account had been compromised, asked him to verify his...

Coinbase rejected a $20 million ransom demand after insiders leaked user data in a phishing scheme. The exchange expects up to $400 million in reimbursement and remediation costs. Coinbase, the world’s third-largest cryptocurrency exchange, was hit by a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data, the company said. According to a May 15 blog post, Coinbase said a group of external actors bribed and coordinated with several customer support contractors to access internal systems and steal limited user account data. “These insiders abused their access to customer support systems to steal the account data for a small subset of customers,” Coinbase said, adding that no passwords, private keys, funds or Coinbase Prime accounts were affected. Read more

Coinbase CEO Brian Armstrong extended a public invitation to employees of the US Department of Government Efficiency (DOGE), encouraging them to apply for roles at the crypto exchange after they leave their current roles. Armstrong announced the move in a social media post on May 14, where he described the opportunity as a new mission […] The post Coinbase CEO wants to hire DOGE staff to help improve the global financial system appeared first on CryptoSlate.

In an exclusive interview with Cointelegraph at the Futurist Conference, Coinbase Canada’s CEO disclosed a recent investment in Stablecorp and outlined plans for the local stablecoin market. Coinbase has partnered with Canadian stablecoin issuer Stablecorp in a bid to expand access to tokenized Canadian dollars, a company executive told Cointelegraph during the Blockchain Futurist Conference in Toronto. According to Coinbase Canada's CEO, Lucas Matheson, the exchange is investing an undisclosed amount in Stablecorp and will help market its fiat-collateralized stablecoin, QCAD. “It’s really important that we have a stablecoin for Canadians,” Matheson told Cointelegraph in an exclusive interview on May 13, adding that stablecoins are especially urgent because the country has “no peer-to-peer [payment] rail” and “wire transfers cost $45 and take 45 minutes of paperwork.” Read more

Crypto falls, BTC acts like safe-haven asset. Coinbase set to join S&P 500, up 8% pre-market. Blackrock files for in-kind redemption on ETH trust. Arizona governor vetoes crypto reserve plans. Legal clarity paramount for tokenization: Pierce. Strategy bought $1.34bn BTC last week. GDC to buy BTC, TRUMP for $300m. Trump-linked ‘American Bitcoin’ to go public. Make New York world’s crypto capital: Adams. SOL DEX volume near 9-week high. SUI goes live broadly on Phantom. Animoca Brands plans to go public in US. SOL founder proposes new cross-chain DA. Dubai taps CryptoCom for crypto payments. Curve website faces DNS hack.

Coinbase saw its highest daily Bitcoin outflows this year, signaling growing BTC investments among institutional investors and corporations. Institutional demand for Bitcoin is growing, as Coinbase, the world’s third-largest cryptocurrency exchange, recorded its highest daily outflows of Bitcoin in 2025 on May 9. On May 9, Coinbase saw 9,739 Bitcoin (BTC), worth more than $1 billion, withdrawn from the exchange — the highest net outflow recorded in 2025, according to Bitwise head of European research André Dragosch. “Institutional appetite for bitcoin is accelerating,” Dragosch added in a May 13 X post. Read more

Coinbase has become the first and only crypto company to be added to the S&P 500, marking a historic milestone for both the digital asset sector and traditional financial markets. Coinbase CEO Brian Armstrong confirmed the announcement on social media, declaring the company’s inclusion a validation of the industry’s staying power. Armstrong wrote: “Crypto is […] The post Coinbase makes history with S&P 500 induction, reinforcing crypto’s arrival in mainstream finance appeared first on CryptoSlate.

Crypto exchange Coinbase will soon be indirectly added to millions of investment portfolios as it is set to join the S&P 500 index on May 19. Crypto exchange Coinbase Global (COIN) is set to join the Standard and Poor’s 500 (S&P 500) on May 19, becoming the first and currently only crypto firm to make it into the index. The crypto exchange will replace Discover Financial Services (DFS), which was recently acquired by Capital One Financial Corp (COF), S&P Global said on May 12. The S&P 500 is a stock market index that tracks the performance of 500 of the largest, publicly traded companies in the US, representing a broad measure of the overall US stock market. Coinbase’s inclusion in the S&P 500 should increase demand for its stock because index funds and exchange-traded funds that track the S&P 500 must buy COIN shares to mirror the index. The S&P 500 tracked an aggregate market cap of $49.8 trillion as of March 31. It is a market-cap-weighted index, giving more weight to larger firms such as Microsoft, Apple,...

Coinbase reportedly considered adopting a Michael Saylor–style Bitcoin investment strategy on multiple occasions since it launched in 2012, but opted out each time. Coinbase reportedly considered adopting a Bitcoin investment playbook like Michael Saylor’s Strategy on multiple occasions, but decided against it each time out of fear that it would kill the firm’s crypto exchange, Bloomberg reported. “There were definitely moments over the last 12 years where we thought, man, should we put 80% of our balance sheet into crypto — into Bitcoin specifically,” Coinbase CEO Brian Armstrong told Bloomberg in a May 9 video call. Armstrong said the Bitcoin (BTC) strategy could have risked the company’s cash position and potentially killed the crypto exchange. “We made a conscious choice about risk,” he added. Read more

Coinbase has bitcoin on the balance sheet, but management wants to be clear it's not taking the Michael Saylor/MSTR approach.

Coinbase has launched 24/7 CFTC-regulated Bitcoin and Ethereum futures via Coinbase Derivatives LLC, the first such offering in the US. Cleared by Nodal Clear and backed by Virtu, ABN AMRO and Wedbush, the move follows its $2.9bn Deribit purchase and precedes planned perpetual contracts. The post Coinbase’s $2.9B Deribit Buy Unleashes 24/7 U.S.-Regulated BTC & ETH Futures appeared first on Cryptonews.

Rumble, the video-sharing platform known for backing alternative media voices, is developing a crypto wallet that could launch by the third quarter of this year. On May 9, Rumble CEO Chris Pavlovski said the wallet will serve as a non-custodial tool tailored for creators. He emphasized the company’s ambition to become a central player in […] The post Rumble non-custodial Bitcoin wallet to launch in Q3 in challenge to Coinbase appeared first on CryptoSlate.

Coinbase’s total revenue fell to $2 billion in Q1 as trading volumes across the market slowed, with net income falling dramatically as crypto prices slumped. Crypto exchange Coinbase’s total revenue fell 10% quarter-over-quarter to $2 billion in Q1, missing industry estimates by 4.1% as trading activity slowed across the market. Coinbase’s net income was sliced by 95% from a near-company record $1.29 billion in Q4 to $66 million, in a large part due to Coinbase marking a $596 million paper loss on its crypto holdings. The firm’s earnings per share of $1.94, however, managed to beat the Zacks Consensus Estimate of $1.85 for the quarter. Read more

Coinbase reported $2 billion in total revenue for the first quarter, compared to $1.6 billion in the first quarter of 2024. Meanwhile, the exchange posted $66 million in net income, compared to $1.2 billion, including unrealized gains of $737 million, during the same period last year. Coinbase reported $930 million in adjusted EBITDA for the […] The post Coinbase Q1 revenues up 40% YoY to $2 billion, while net income down appeared first on CryptoSlate.

The deal reflects competition among crypto exchanges to dominate the burgeoning derivatives market.  Coinbase’s agreement to buy Deribit highlights the increasing importance of financial derivatives for cryptocurrency exchanges, according to industry executives.  On May 8, Coinbase, the US’s largest crypto exchange by trading volume, agreed to acquire crypto derivatives platform Deribit for $2.9 billion in the crypto industry’s largest corporate acquisition to date.   The deal reflects increasing competition among digital asset exchanges and brokerages — including Coinbase, Kraken and Robinhood — to dominate the burgeoning crypto derivatives market.  Read more