According to the latest reports from Reuters, the exchange had prior knowledge of the data breach but delayed public disclosure, sparking concerns about transparency and security practices. Coinbase suffered a major data breach last month, exposing sensitive customer information, including names, addresses, and phone numbers. Coinbase Hack: Prior Knowledge & Delayed Disclosure Raise Concerns In a surprising revelation, Reuters reported that Coinbase had prior knowledge of a customer data leak as early as January. This raises questions about the company’s delayed public disclosure. According to Coinbase’s SEC filing, the company was aware that contractors had accessed unnecessary data in the “previous months”. The company added that they didn’t know that it was part of the larger operation until they received an extortion demand on May 11. On May 15, as CoinGape reported, Coinbase revealed a significant hack that involved the stealing of personal information of high-profile users like Sequoia Capital’s… Read More at Coingape.com
Crypto exchange Bullish, backed by Peter Thiel, has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). This filing is a significant step for the firm and the broader crypto industry, which has seen a surge in optimism following the recent signing of the GENIUS Act by President Donald
Cathie Wood’s Ark Invest has scaled back its exposure to Coinbase, selling over $52 million in company shares over two consecutive days last week.
The decision came as Coinbase stock soared to a new all-time high, driven by bullish sentiment and growing institutional interest in crypto-linked equities.
Coinbase Leads S&P in June but Ark Invest Reduces Exposure
Trading data indicates that Ark sold roughly $12.5 million worth of Coinbase shares on June 26, followed by a larger $40 million sale the next day. The stock rallied during that period, reaching an intraday high of $382 before closing the week at $353.
Here’s every move Cathie Wood and Ark Invest made in the stock market Friday 6/27 pic.twitter.com/AizcmRv5C5
Market analysts attribute this rally to multiple factors such as improved regulatory clarity and continued product expansion.
A major boost came last week when the US Senate passed the GENIUS stablecoin bill, which is now awaiting a vote in the House.
If enacted, the bill could bring long-awaited guidelines for the digital asset sector, potentially lifting investor confidence in crypto-focused firms.
Beyond favorable regulation, Coinbase’s rising momentum is also being fueled by upcoming product offerings.
Analysts at 10x Research highlighted the platform’s plans to launch US-regulated perpetual futures for Bitcoin and Ethereum on July 21. They also pointed to Coinbase’s strong ties with Circle and the growing use of USDC as catalysts for continued growth.
Coinbase COIN Stock Performance. Source: 10x Research
Moreover, Coinbase CEO Brian Armstrong also recently touted the firm’s institutional strength in an update on the social media platform X.
He noted that eight of the top ten publicly traded Bitcoin firms use Coinbase Prime. Additionally, $140 billion worth of crypto is held in US-based ETFs, with Coinbase custody responsible for 81% of that figure.
However, despite the strong momentum, some analysts urge caution. 10x Research warned that current valuation levels might be stretched in the short term.
“Our regression model indicates that Coinbase is overvalued….despite the strong uptrend,” the analysts stated.
TIME recently named the exchange one of its 100 Most Influential Companies of 2025. The firm cited its advocacy for clearer rules in the digital asset sector and noted its continued expansion plans.
“If industry-friendly bills are passed, Coinbase stands to become an even bigger hub for US crypto activity,” the report stated.
