Crypto News

Crypto Exchange Coinbase (COIN) Is Buying BTC

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Coinbase (COIN) has its personal technique for BTC on the company steadiness sheet, nevertheless it’s not a bitcoin maximalist play like that of Michael Saylor’s Technique (MSTR).

On the corporate’s first quarter 2025 earnings name, CFO Alesia Haas revealed that Coinbase bought $150 million in crypto, “predominantly bitcoin,” bringing its long-term funding portfolio to $1.3 billion, or 25% of internet money.

Haas, nonetheless, went out of her approach to attract a line between Coinbase and corporations that explicitly tie their company identification to holding bitcoin on the steadiness sheet.

“To be clear, we’re an working firm,” she stated. “However we do make investments alongside the house.”

In different phrases, Coinbase isn’t betting the corporate on bitcoin. On a Q&A call with retail buyers, Armstrong stated there was a temptation in its early days to place numerous BTC on the steadiness sheet, nevertheless it was too dangerous. Crypto is unstable and, on the time, Coinbase was too younger of an organization to take that danger.

Now, as a listed large issues have modified, however there’s nonetheless not a have to go all-in on bitcoin. Coinbase is allocating earnings from operations again into crypto property, equally to how a commodity agency would possibly accumulate uncooked supplies it understands deeply. The transfer is much less Michael Saylor and extra sector-aligned capital recycling.

The truth is, Coinbase didn’t even trumpet the acquisition in its shareholder letter. The information solely surfaced in response to a retail shareholder’s query about “accruing exhausting crypto reserve property.”

CEO Brian Armstrong didn’t communicate immediately concerning the purchases, however he did provide a philosophical context. Coinbase, he reminded buyers, isn’t dabbling in crypto – it’s crypto.

“We’ve been targeted on crypto for the reason that starting, 12 years in the past, and we proceed to be targeted there,” Armstrong stated. “Crypto is consuming monetary companies.”

For Armstrong, shopping for BTC is a byproduct of conviction and operational alignment and never a headline play, treasury pivot, or activist wager.

Coinbase isn’t holding BTC to sign to markets some broader conviction, or change into a proxy like MSTR. Behind the accounting language is one thing deeper: a long-view wager that holding Bitcoin, like constructing the rails beneath it, is just a part of Coinbase’s job.

That is not a treasury technique — it is one thing within the center.

Intellectuals Insider

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Crypto News

HAI Token Drops After Private Key Leak

Cybersecurity agency Hacken has blamed a personal key leak that allowed a foul actor to mint and loot $250,000 value of the ecosystem’s native Hacken Token (HAI), inflicting it to plummet round 99% on Saturday.

In an X publish, Hacken said the personal key was linked to an account with a minting function on the Ethereum and BNB Chain, which led to the “unauthorized HAI minting and a dump” on decentralized exchanges — causing a 99% drop within the worth of HAI from $0.015 to $0.000056.

HAI is presently buying and selling at $0.00026.

01979a8c 0581 7950 b4af d086b199a96b — *Supply:* *Hacken*

Hacken crew members stated they’ve since revoked the compromised minter account from the token contract and regained management; nonetheless, based mostly on Hacken’s present estimates, the dangerous actor nonetheless managed to flee with a minimum of $250,000 value of tokens.

“The core infrastructure has at all times been separate from HAI infra and stays safe. There’s presently no proof of any compromise past the personal keys,” Hacken stated.

Non-public key leak linked to bridge deployment

Hacken stated the personal key was compromised throughout “architectural modifications” to the agency’s blockchain bridge, which had been being utilized “particularly to forestall dangers like this,” in response to Hacken.

“Hacken’s bridge was constructed at a time when the market and tech appeared very completely different. Redesigning a deployed bridge means migrating contracts — a fancy authorized and technical course of,” the agency stated.

As a precaution, Hacken has paused bridge transactions on Ethereum and BNB Chain till additional discover and warned that there were no airdrops planned and that any posts saying in any other case are scams.

Tokens purchased after hack not supported

Hacken CEO Dyma Budorin said in an X publish on Sunday that every one tokens on the affected networks, BNB Good Chain and Ethereum, purchased after the hack “is not going to be supported within the new tokenomics.”

01979a8c 0aba 75c9 b1aa 335dfe3e3dfb — *Supply:* *Dyma Budorin*

“Our aim was at all times to transform HAI right into a safety token that represents Hacken fairness and has crypto flexibility. Now could be the time to speed up the concept implementation,” he stated.

Hacken stated its long-term aim now could be to rework HAI right into a regulated monetary software that merges token utility with fairness rights by merging HAI and Hacken’s fairness shareholders.

Associated: Politicians’ memecoins, dropped court cases fuel crypto ‘crime supercycle’

All official consumer balances stay trackable, and HAI tokens may have the choice to swap later, with particulars coming quickly, in response to Hacken.

Hackers stole $1.6 billion in first quarter this yr

Blockchain safety agency PeckShield said in an April report that hackers stole over $1.63 billion in crypto throughout the first quarter of 2025.

Extra lately, liquid staking protocol Meta pool suffered a similar exploit on June 18, when an attacker was in a position to mint 9,705 of the liquid staking protocol’s token mpETH value practically $27 million however solely managed to steal round 52.5 Ether (ETH), value simply over $132,000.

Journal: Arthur Hayes doesn’t care when his Bitcoin predictions are totally wrong