Coinbase urges DOJ to establish uniform crypto oversight amid state-level conflicts https://t.co/MrlH9W0QUt ...

Court documents reveal further details of the Coinbase data breach. Ashita Mishra, an employee at Coinbase's outsourced customer service company in India, stole sensitive customer information, including social security numbers and bank account details, starting in September 2024. She then sold the stolen photos to hackers for $200 per photo, using them to impersonate Coinbase employees and defraud users. The breach affected over 69,000 customers. https://t.co/1BjYK8Hav5 ...

Legal & Compliance - TaskUs 被指控隐瞒 Coinbase 数据泄露事件 [1] - 一项修正后的诉讼指控 TaskUs 存在不当行为 [1]

Core Insights - A class action lawsuit in New York against TaskUs has been amended to include new claims of systemic security failures and concealment related to a breach involving Coinbase customer data, with estimated losses reaching up to $400 million [1] Group 1: Breach Details - The breach originated in late 2024 and was disclosed by Coinbase in May, with the company claiming it was a criminal bribery scheme that exploited external vendors and some Coinbase staff outside the U.S., affecting less than 1% of monthly transacting users [2] - TaskUs allegedly had a coordinated scheme in its India operations where employees were bribed to photograph sensitive account information for criminals, leading to the dismissal of around 300 employees in January [4] Group 2: Company Actions - Coinbase has terminated its relationship with TaskUs, opting not to "pay the criminals" and instead offering a $20 million reward for information leading to arrests and convictions [3] - TaskUs is accused of concealing the breach's scope and silencing those with knowledge of it, including firing HR personnel investigating the breach, while misleading regulators about the breach's materiality [5] Group 3: Regulatory and Financial Implications - A Form 10-K filing from TaskUs in February did not mention the Coinbase breach, suggesting the company claimed it was unaware of any material data breach impacting its operations before Coinbase's acknowledgment in May [6]

avantis got coinbase listing in 5 days from launch.fastest listing in coinbase history signals base perps monopoly. ...

Bringing stablecoin payments to AI agents with @Google.Brian Armstrong (@brian_armstrong):x402 + @Google just unlocked a new level for AI agents.Agents can actually pay each other now, with x402 powering the stablecoin rail inside Google’s new Agentic Payments Protocol (AP2). Really cool. https://t.co/R3gj16g3hY ...

Group 1 - Google has launched a new open-source payment system designed to facilitate money transfers for AI applications, incorporating payment options such as credit cards, debit cards, and stablecoins [1][2] - The payment system was developed in collaboration with Coinbase, the Ethereum Foundation, and over 60 other companies, including American Express and Salesforce [1][2] - The system is built to support both traditional payment methods and emerging technologies like stablecoins, ensuring interoperability with Coinbase's payment mechanisms [2] Group 2 - The launch of the payment system follows a communications protocol introduced by Google in April, aimed at enabling AI agents to communicate and transfer funds securely [3] - The GENIUS Act has created a favorable regulatory environment for stablecoins in the U.S., prompting increased interest from major tech companies [4] - The stablecoin market is projected to grow significantly, with estimates suggesting a market cap of $1.2 trillion by the end of 2028 and over $400 billion by the end of 2025 [6]

Core Viewpoint - Banks' concerns regarding stablecoins are primarily driven by a desire to protect their revenue streams rather than genuine threats to the financial system [2][3]. Group 1: Banks' Concerns - The central claim that stablecoins will cause a mass outflow of bank deposits is unfounded, with recent analysis showing no meaningful link between stablecoin adoption and deposit flight for community banks [2]. - Banks are motivated to oppose stablecoins because they threaten the $187 billion yearly revenue from swipe fees, as stablecoins offer cheaper and faster money transfer options [2]. Group 2: Historical Context - The banking industry has a history of opposing technological advancements such as ATMs and online banking, often citing consumer harm or financial stability concerns, while actually trying to protect their profit margins from competition [3]. Group 3: Regulatory Changes - Recent changes in federal policy, particularly from the Office of the Comptroller of the Currency (OCC), have allowed banks to engage in crypto-related activities, reshaping the competitive landscape [5][6]. - The OCC's new stance indicates that activities related to digital assets should not be stigmatized, which could disadvantage smaller banks that previously relied on regulatory protections [5][6].

🚨JUST IN: GOOGLE UNVEILS OPEN-SOURCE AI PAYMENTS PROTOCOL WITH CREDIT CARD AND STABLECOIN SUPPORT, DEVELOPED WITH @COINBASE, ETHEREUM FOUNDATION & 60+ PARTNERS ~ FORTUNE ...

JUST IN: Google collaborates with Coinbase to add crypto payments to its new AI payments protocol. https://t.co/dn0yfMLcoX ...