Coinbase, a leading cryptocurrency exchange, has been the victim of a significant data breach, affecting between 69,000 and 70,000 users. This information was revealed in regulatory filings and internal investigations. Perpetrators had access to confidential customer details and demanded a $20 million ransom. Coincidentally, Coinbase was recently added to the S&P 500 index. The breach's fallout includes legal scrutiny from the Department of Justice and a series of lawsuits. The company is expected to face up to $400 million in costs as a result of this cyberattack. As a result, Coinbase shares fell.
Moreover, Coinbase is also reportedly considering acquiring Circle, a digital currency platform. However, this possibility emerged amidst the data breach dilemma.
Simultaneously, the prominence of meme coins and tokens linked to influential personalities such as Donald Trump continues to rise with mixed impacts on investors.
In other crypto news, Bitcoin has hit a new all-time high price, and market data suggests the bullish momentum is not over yet. Several outlets have reported on Binance Coin (BNB) outperforming Bitcoin, while Ethereum and Litecoin reports are rather mixed.
Finally, data facilities are on the rise for cryptos. For instance, Bitnile.com, a subsidiary of Hyperscale Data, has launched Nile Coin on the Solana Blockchain. Similarly, Filecoin and Lockheed Martin have sent data to space using a decentralized data protocol.
DATA Coin News Analytics from Thu, 02 Jan 2025 08:00:00 GMT to Wed, 21 May 2025 21:01:11 GMT -
Rating -8
- Innovation -3
- Information 9
- Rumor -6
