The Daily Crypto Brief!
All major crypto headlines explained
GM readers! Let’s dive into the latest crypto updates!
Coinbase was Aware of Data Breach Months Before Disclosing: Reuters
Coinbase found out in January that customer data had been compromised through its third-party contractor, TaskUs. However, it only shared this information on May 15 according to a Reuters report.
The hackers stole customer names, addresses, masked bank details, and identity documents—though no funds or passwords were taken.
TaskUs, a large U.S. outsourcing firm with staff across 12 countries, was linked to at least part of the breach. Coinbase claims the incident affected fewer than 1% of its users. Since then, Coinbase has cut ties with TaskUs and other overseas contractors involved, saying it has strengthened security.
Meta Shareholders Vote Against Adding Bitcoin to Company Reserves
Meta shareholders have strongly rejected a proposal to consider adding Bitcoin to the company’s financial reserves, according to a filing on May 28.
The proposal received only 3.92 million votes in favor—just 0.08% of the total—while nearly 5 billion votes were against it. Since Meta CEO Mark Zuckerberg controls 61% of the company’s voting power, he likely voted against the idea.
Despite Meta’s rejection, more public companies are adding Bitcoin to their balance sheets. Data from BitcoinTreasuries.NET shows that 116 public firms now hold Bitcoin.
Donald Trump Enters Crypto Space with New Wallet and Meme Coin
Donald Trump and his business partners are launching a crypto wallet connected to his Solana-based meme coin. This project is in partnership with Magic Eden, a major NFT marketplace.
The wallet mainly offers users a chance to win TRUMP tokens as part of a big giveaway. The site promises a total of 1 million TRUMP tokens in prizes, worth $11.6 million at the time of writing.
The Trump wallet is powered by Slingshot, a mobile crypto trading app that Magic Eden acquired in April to expand beyond NFTs.
Binance Leads Crypto Liquidity with Massive Stablecoin Reserves
Binance holds the largest amount of stablecoins among all major crypto exchanges, according to new data from CryptoQuant. Its wallets contain around $31 billion in USDT and USDC, making up 59% of the stablecoin reserves across the industry. This gives Binance strong liquidity, meaning it has plenty of funds ready for trading.
Stablecoins function like cash in the crypto world, allowing traders to quickly buy and sell assets. Since Binance holds such a big portion of stablecoin reserves, it shows the platform is a top destination for capital flow.
While Coinbase leads in total reserves, Binance’s steady inflows and transparency help it maintain a strong position in the competitive crypto exchange market.
Sonic Launches $82 Million Airdrop—Biggest Campaign Yet!
Sonic (S), the layer-1 blockchain that used to be called Fantom until late 2024, has announced its first $S token airdrop.
This comes at a time when $S price has dropped over 30% in the past month, but investors believe the way the tokens are being distributed could help reduce selling pressure in the long run.
Who Gets the Airdrop?
Users who have collected Sonic Points, Sonic Gems, or Game Gems qualify. It also includes those who have:
Used Opera (historically)
Played Sonic Arcade
Minted the special Shard NFT
How the Tokens Will Be Distributed
25% of the tokens will be immediately available users can trade or use them right away.
75% will be locked for 270 days but through a tradable NFT system.
Users can unlock their tokens early if they choose.
Some investors think this controlled release method is a smart way to manage price swings after the airdrop.
Thats all for today folks. See you tomorrow with more updates on crypto. Have a great day!
