$46 Million Gone: Are Your Crypto Funds Really Safe on Coinbase?

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📈 Preview On Today’s News:

1. - $46 Million Gone: Are Your Crypto Funds Really Safe on Coinbase?

2. - Banks Unshackled: FDIC Greenlights Crypto Without Pre-Approval

3. - Michael Saylor’s $500 Trillion Bitcoin Vision: Bold Prediction or Digital Delusion?

Keep reading below for more!

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Today’s News:

1)

$46 Million Gone: Are Your Crypto Funds Really Safe on Coinbase?

A Coinbase user allegedly lost $34.9 million in Bitcoin to scammers this March, bringing the monthly total of reported Coinbase-related thefts to over $46 million. Onchain investigator ZachXBT exposed the incident, noting that the stolen funds were bridged to Ethereum via Thorchain and converted into DAI stablecoins. The scams, which heavily rely on sophisticated phishing techniques and social engineering—especially targeting the elderly—highlight ongoing vulnerabilities in Coinbase’s security systems. ZachXBT also accused Coinbase of failing to flag known scam addresses and maintaining poor compliance standards, despite past incidents such as a $15.9 million theft from Coinbase Commerce and a £3.5 million UK fine for AML breaches. Regulators are now intensifying scrutiny as crypto scams grow in scale and complexity.

• Over $46 million stolen from Coinbase users in March alone, including a $34.9M BTC heist uncovered by ZachXBT, with scammers using spoofed emails and cloned Coinbase sites to deceive victims.

• Coinbase faces criticism for poor fraud detection, outdated security measures, and compliance failures, with regulators and investigators calling for stronger oversight and user protections.

2)

Banks Unshackled: FDIC Greenlights Crypto Without Pre-Approval

In a pivotal shift for U.S. crypto policy, the Federal Deposit Insurance Corp. (FDIC) has rescinded its 2022 guidance requiring banks to seek prior approval before engaging in cryptocurrency-related activities. This move, backed by new guidance under the Trump administration, allows FDIC-supervised banks to participate in digital asset markets—provided they manage associated risks responsibly and comply with existing regulations. The decision marks a significant step toward integrating crypto into the U.S. financial system, aligning with broader governmental efforts to establish the country as a global crypto leader.

• FDIC rescinds 2022 policy, now allowing banks to engage in crypto activities without seeking prior approval, as long as risks are adequately managed.

• Part of a broader U.S. crypto pivot, the move reflects the Trump administration's push to make the U.S. the global leader in digital assets.

3)

Michael Saylor’s $500 Trillion Bitcoin Vision: Bold Prediction or Digital Delusion?

Michael Saylor, Executive Chairman of Strategy, stunned the crypto world at the Digital Asset Summit by predicting Bitcoin could one day reach a $500 trillion market cap—surpassing gold, real estate, and every traditional store of value. Strategy, which currently holds nearly half a million BTC, has aggressively accumulated Bitcoin as part of its long-term investment thesis. Saylor believes Bitcoin will “demonetize” gold and real estate, radically reshaping global finance. While reactions range from awe to skepticism, the forecast underscores Bitcoin’s growing influence and the potential for transformative shifts in economic infrastructure and monetary policy—despite BTC’s current market cap sitting at $1.66 trillion.

• Michael Saylor predicts Bitcoin could reach a $500 trillion market cap, surpassing gold, real estate, and all long-term stores of value.

• With Strategy holding 499,096 BTC and Bitcoin's current market cap at $1.66 trillion, Saylor’s vision sparks intense debate on crypto's role in future global finance.

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