Crypto Market Moves On as Trump Pushes Fed to Lower Interest Rates

Dozens of Binance users report receiving an alarming wave of phishing text messages that appear genuine. These messages even match the phone number and SMS inbox they regularly see for official Binance updates. 

Almost all phishing texts reviewed by BeInCrypto have the same wording and format. This leads us to believe that a particular threat actor or criminal group is targeting Binance users with a sophisticated phishing campaign.

Targeted Phishing Campaign Against Binance Users

The messages often warn of users’ unauthorized account activities—such as a newly added two-factor authentication device. 

Most commonly, the phishing messages follow up with a text about an unexpected Binance API pairing with Ledger Live. The recipients are then urged to call a provided phone number. 

Some targeted users claim these texts show up in the same thread as their legitimate Binance notifications. This creates confusion and prompts them to engage. Investigations by BeInCrypto reveal a surge in consumer complaints on X (formerly Twitter). 

Many users say they were caught off guard because the scam messages originated from the same sender ID used by Binance for authentic notifications. 

Meanwhile, the criminals behind this campaign appear to be capitalizing on publicly reported leaks of Binance user data on dark web forums. 

Last month, an estimated 230,000 combined user records from Binance and Gemini reportedly appeared for sale on the dark web. Security experts suggest these leaks came through phishing attacks rather than direct system breaches.

The suspected group of threat actors is likely using leaked information—names, phone numbers, and emails—to craft targeted messages that give the illusion of legitimacy. 

Also, the pattern seen in the phishing attempts typically involves an urgent “not you?” query. It prompts recipients to call an embedded phone line instead of simply clicking a link. 

This method bypasses the more common scenario of phishing links in SMS.

Binance is Extending Anti-Phishing Code to SMS

In an exclusive email to BeInCrypto, Binance’s Chief Security Officer, Jimmy Su, responded to these findings. Su confirmed the company’s awareness of the escalating smishing incidents.

“We are aware of smishing scams on the rise where phishing scammers are impersonating us and other legitimate senders via SMS. These scams appear to be more authentic, tricking users into revealing sensitive information, clicking into phishing links, or making a transfer that result in loss of assets.” Binance’s Chief Security Officer told BeInCrypto. 

Su further disclosed that Binance has extended its Anti-Phishing Code to SMS. This feature was originally offered for emails. 

The code is a user-defined identifier that appears in official Binance messages, making it easier for recipients to recognize genuine notifications and avoid impostors. 

“By incorporating a unique Anti-Phishing code into Binance SMS messages, we are making it significantly harder for scammers to deceive our users,” Su said.

The Anti-Phishing Code has been rolled out to all licensed jurisdictions where Binance operates. 

Also, according to Binance, both registered and non-registered users have reported receiving suspicious texts. 

Therefore, attackers might be leveraging databases that include phone numbers of individuals not actively using Binance.

BeInCrypto advises users to adopt additional measures, such as verifying transactions directly through Binance’s official app or website, using multifactor authentication, and never sharing credentials over the phone. 

Reporting suspicious messages to Binance’s support team is strongly advised.

Individuals are encouraged to confirm official communications by checking for the Anti-Phishing Code and to carefully scrutinize any request to call phone numbers provided in unsolicited messages.

The post Cybercriminals are Targeting Binance Users With a New Phishing SMS Scam appeared first on BeInCrypto.

Welcome to the US Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee to see why Standard Chartered thinks XRP could soon leapfrog Ethereum, how Tether’s institutional pivot might reshape the stablecoin market, and how players like BlackRock, Galaxy Digital, and the Federal Reserve could shape crypto’s next chapter.

Standard Chartered says XRP Set to Outperform, Could Overtake Ethereum by 2028

As global trade tensions intensify, Standard Chartered sees a silver lining for crypto investors, urging them to focus on long-term winners poised to benefit from the disruption.

“Tariff noise creates the opportunity to look for long-term value/pick winners in Digital Assets for the next leg higher. Today we add XRP to that list of winners (BTC and AVAX other identified winners, ETH identified loser). XRP’s core use is as a cross-border and cross-currency payments platform. That part of Digital Assets is undergoing a shift higher in volumes, something we see continuing. By the end of 2028 we see XRP’s market cap overtaking Ethereum’s. That will make XRP the second largest (non-stablecoin) Digital Asset at that time. Keep looking for winners and HODLing those you already own”, Geoff Kendrick, Standard Chartered’s Head of Digital Asset Research, in an email to BeInCrypto.

Kendrick also pointed to Bitcoin’s resilience as a signal of what’s to come for the broader crypto market.

“Tariff mess will be over soon, and Bitcoin’s solid performance during the noise tells us a leg higher for the asset class will follow” he said.

He also points out important points about the recent performance of XRP:

“XRP price rose 6x in the two months following Trump’s election victory, the strongest performance among the top 15 digital assets by market cap. This reflected market expectations that the SEC would drop its appeal of a court ruling concerning Ripple, as well as the potential for XRP ETFs to be approved under new SEC leadership.”

It’s also important to point out that Ripple recently announced the acquisition of prime broker Hidden Road for $1.25 billion to expand institutional services.

But Kendrick believes the fundamentals — not just politics — are driving XRP’s momentum.

“We think these gains are sustainable, not just because of recent leadership changes at the SEC but also because XRP is uniquely positioned at the heart of one of the fastest-growing uses for digital assets – facilitation of cross-border and cross-currency payments. In this way, XRPL is similar to the main use case for stablecoins such as Tether: blockchain-enabled financial transactions that have traditionally been done through traditional financial (TradFi) institutions. This stablecoin use has grown 50% annually over the past two years, and we expect stablecoin transactions to increase 10x over the next four years. We think this bodes well for XRPL’s throughput growth, given the similar use cases for stablecoins and XRPL.”

Tether’s Big Play: Institutional-Grade Stablecoin Targets US Market

With institutional adoption accelerating, Tether’s plan to launch a US-focused, institutional-grade stablecoin could be a defining moment for stablecoins — and a major step toward mainstream crypto integration.

Charles Wayn, co-founder of decentralized Web3 super-app Galxe, told BeInCrypto that:

“The news that Tether is planning to launch an institutional-grade stablecoin for the US market is fantastic for the crypto industry. Tether pioneered stablecoins with its first launch over a decade ago in 2014, and its flagship product — USDT — is now the third largest cryptocurrency in the world. Unlike its rival, USDC, USDT has never been formally audited, leading to frequent questions over its balance sheet. Nonetheless, it remains the industry’s favored stablecoin, shown by its market cap of over $144 billion, which is well over double the size of USDC’s $60 billion.”

Wayn believes this move, along with Tether’s push for transparency, positions the company as a future leader in institutional crypto adoption.

“As such, this move, combined with other recent news that Tether is seeking a full audit from a Big Four accounting firm, shows that the company is not only willing to be compliant but also be a leader in institutional adoption. While USDT sadly did not pass the EU’s directive on stablecoins under MiCA, this new product will likely be designed to pass new legislation coming from the US.”

He adds that institutional momentum — fueled by players like BlackRock — reinforces why now is a pivotal moment for stablecoins and broader market stability.

“As such, there is little doubt that USDT will work hard to launch its new product in good time. As we see huge institutions like BlackRock further entering the market with another $66 million purchase of Bitcoin last week, along with the rapid growth of its RWA BUIDL fund, institutional adoption is now taking off rapidly.”

Crypto Chart of the Day

Stablecoins total market cap is currently close to its all-time highs, above $210 billion.

Byte-Sized Alpha

– Analysts warn that a return to Quantitative Easing in 2025 could ignite a massive crypto rally, potentially pushing Bitcoin toward $1 million and sparking a surge in altcoins.

– Zero inflows into Bitcoin ETFs and declining futures interest hint at fading investor confidence, though rising put contracts and positive funding rates point to cautious optimism.

– Galaxy Digital secures SEC approval to reorganize and move toward a May 2025 Nasdaq listing, signaling renewed confidence in crypto amid improving US policy support.

– Binance Research shows that during tariffs, RWA tokens outperform Bitcoin, as rising macro pressures weaken BTC’s role as a diversification asset.

– MicroStrategy’s pause in Bitcoin buying last week, amid $5.91 billion in unrealized losses, signals growing caution and raises questions about liquidity, debt, and broader institutional confidence.

– Potential Fed rate cuts could breathe new life into crypto by boosting risk appetite and weakening the dollar, though uncertainty remains amid Larry Fink’s skepticism.

The post XRP Could Overtake Ethereum by 2028, says Standard Chartered | US Crypto News appeared first on BeInCrypto.

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.

Overall, Coinbase has climbed 32% in the past month and is up over 42% year-to-date. This makes it the best-performing stock in the S&P 500 for June.

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.

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.

Nonetheless, investor sentiment remains largely optimistic, especially as Coinbase continues to shape the conversation around crypto policy in Washington.

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.

The post Coinbase Stock Could Be Overvalued After All-Time High, Analysts Warn appeared first on BeInCrypto.