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Last week's highly organized breach of cryptocurrency exchange Coinbase (COIN) left behind more questions than answers.While some hailed Coinbase's response as a "really great example" in dealing with a crisis, the breach has now caused a potentially massive privacy issue that mirrors the Ledger data breach in 2021 — which led to a spate of real-world robberies as criminals were able to get a hold of names and addresses of crypto holders. Coinbase has already acknowledged that its customers may have lost close to half a billion U.S. dollars as a result of its breach.Cybercriminals accessed Coinbase user data by bribing and convincing Coinbase support employees to share that data, but this was entirely preventable, according to numerous experts that...

A number of large banks and other traditional financial (TradFi) institutions are set to use the Solana blockchain for their tokenization efforts.R3, a U.K. developer of blockchain technology for financial institutions, is teaming up with the Solana Foundation to bring the former's clients and their tokenized real-world assets to Solana.Through its blockchain platform, Corda, R3 holds over $10 billion in assets and counts the likes of HSBC, Bank of America, Bank of Italy and the Monetary Authority of Singapore among its participants.Tokenization, the term for minting real-world assets such as stocks and bonds as digital tokens that can be traded on decentralized networks, is one of the principal use cases of blockchain technology attracting the attention and investment of the...

Last week was Consensus Toronto 2025. If you couldn’t attend, CoinDesk has you covered! Listen to amazing global thought leaders, sharing their insights on pertinent topics surrounding the digital asset space on day 1, day 2 and day 3. You can also read the extensive editorial coverage.In today’s Crypto for Advisors, Shivani Phull from Pixelynx explains how Black Mirror is leveraging blockchain as part of evolving fan content and engagement.Then, Eric Tomaszewski from Verde Capital Management answers questions about the appeal of these products to next-gen investors in Ask an Expert.Thank you to our sponsor of this week's newsletter, Grayscale. For financial advisors near Boston, Grayscale is hosting an exclusive event, Crypto Connect, on Thursday, June 5. Learn more.– Sarah...

It's early days for the global dollar (USDG), a stablecoin that debuted in November, but a thousand firms could join the group that helps popularize the token in return for a share of the yield earned on reserve assets, according to crypto exchange Kraken, one of the founding partners. USDG, whose other backers include trading platform Robinhood (HOOD), stablecoin issuer Paxos, crypto investor Galaxy Digital and crypto bank Anchorage Digital, recently welcomed 19 new joiners, many of them crypto native firms. Banks and large traditional finance firms are also lining up, Kraken's consumer business lead Mark Greenberg said.“There are 25-plus partners now, and I hope in another month, we'll be announcing the next 25, and then the next 25. So...

Texas is drawing closer to establishing a strategic bitcoin (BTC) reserve after a senate bill to create one was approved by the lower house.The state's House of Representatives voted in favor of Senate Bill 121 which would establish a "Texas Strategic Bitcoin Reserve for the purpose of investing in cryptocurrency and the investment authority of the comptroller of public accounts over the reserve and certain other state funds."The bill, which passed in a 101-42 vote, now awaits a concurrence vote from the Senate following House amendments before passing to Governor Greg Abbott's desk for a final sign-off.Texas would become the second state to establish a strategic reserve for digital assets after New Hampshire. An equivalent vote in Arizona got all...