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Sequoia Capital Managing Partner Roelof Botha was among the high-profile victims whose personal information was compromised in the recent Coinbase hack. According to a person familiar with the matter, the incident reveals that prominent executives were targeted in the hack against the largest U.S. cryptocurrency exchange. As per Bloomberg report , the stolen data reportedly included Botha’s phone number, address, and other sensitive account information associated with his Coinbase profile, said the source, who requested anonymity due to the confidential nature of the situation. The cryptocurrency exchange disclosed Thursday that attackers had successfully bribed customer service representatives based in India to gain unauthorized access to client data. According to reports, the compromised information included names, birth dates, addresses, nationalities, government identification numbers, banking information, and account information. Following the breach, the hackers attempted to extort $20 million from Coinbase in exchange for their silence, a demand that the company rejected. According to Coinbase officials, suspicious activity from certain customer service representatives had been detected as early as January. Botha is a member of the so-called “PayPal Mafia,” the notorious group of entrepreneurs and investors, including Peter Thiel and Elon Musk. He has also been with Sequoia Capital since 2003, where he made early investments in companies like YouTube and Instagram before becoming the firm’s senior steward in 2022. Some Coinbase users received security alerts last weekend warning that their information may have been improperly accessed, according to the person familiar with the situation. The incident has highlighted growing concerns about the security of cryptocurrency executives as the industry gains mainstream visibility and adoption. Despite the Coinbase hack, COIN is up 9% today to $266.4 at press time. This means that investors remain optimistic about the company’s long-term potential despite the data security challenges.

Be interested when markets look like this, not after reversals 😅

The cryptocurrency market may be primed for a significant shift as altcoin season shows signs of an imminent comeback. According to Crypto Rover, a prominent analyst, the current wave of panic selling is likely a final shakeout before a major altcoin surge. This perspective is further supported by shifting investor sentiment and historical data, which indicate that a resurgence in altcoins frequently follows periods of pronounced Bitcoin dominance alongside market uncertainty. As capital begins to rotate from Bitcoin into altcoins, the stage appears set for select cryptocurrencies to deliver substantial returns, possibly even 10x gains. Bitcoin commands a 62.6% share of the market, firmly establishing this period as “Bitcoin Season.” The Altcoin Season Index sits at 22, far below the 75-point mark that typically signals altcoin outperformance. Historically, similar dips in the index have preceded sharp rebounds in altcoin valuations. Besides, Bitcoin’s price remains relatively stable at $102,940.52, down slightly by 0.72%, reflecting a cautious but resilient investor mood. Meanwhile, Ethereum has dropped 4.88%, landing at $2,482.44, with other major altcoins like BNB, Solana, and XRP also registering small declines. These movements indicate consolidation, often a precursor to breakout patterns. Related: Altcoin Season Delayed as Bitcoin Dominance Holds at 61.7% Adding another layer to this market assessment, the Fear and Greed Index currently stands at 68. This is generally viewed as an optimistic reading, reflecting robust underlying investor appetite even in the face of short-term volatility, further supporting the idea of keeping a close eye on altcoins. Institutional interest is gaining traction, as evidenced by a $282.4 million positive net flow into crypto ETFs. This surge suggests growing confidence among large investors. Notably, the ETF inflows peaked around late April and early May, pointing to strategic capital allocation rather than speculative fervor. Related: BTC Dominance Is Key If Bitcoin Hits $109K For Altcoin Season Clues The derivatives market also remains active, with perpetual contracts reaching $691.27 billion and futures at $3.94 billion. This high engagement signals that traders are positioning for significant moves ahead, possibly anticipating a major altcoin breakout. Volatility data offers another key insight. Bitcoin’s implied volatility stands at 44.48, while Ethereum’s sits higher at 71.78. This contrast suggests traders expect sharper price movements in altcoins compared to Bitcoin. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The Stablecoin GENIUS Act is anticipated for a U.S. Senate vote next week. Market analysts suggest this development could become a game-changer for Ripple’s ecosystem, especially its stablecoin RLUSD. This legislative action, according to the analysis outlined in the report, may create significant benefits for RLUSD, potentially allowing it to take a large share of the global stablecoin market. If RLUSD reaches 50% of Tether’s current $150 billion market cap, the implications for XRP could be transformative. A surge in RLUSD adoption would not only solidify Ripple’s position in the digital payments space but also provide the momentum needed to push XRP to new all-time highs. RLUSD trades close to $1 with a market cap of $331 million . Over the past five months, its value has multiplied sixfold. This growth pace, if sustained or accelerated by regulatory clarity, could place RLUSD at the forefront of U.S.-backed stablecoins. The GENIUS Act favors domestic stablecoins and aims to modernize outdated payment rails. With bipartisan support and regulatory approval, RLUSD is well-positioned to benefit from an exodus of capital from offshore-issued assets like Tether (USDT). Related: Ripple’s $25M Gift in RLUSD Shows How Crypto Can Fund Education at Scale If RLUSD captures even half of Tether’s dominance, that equates to a $75 billion market cap. Such an influx would deepen liquidity on Ripple’s network and increase transactional demand for XRP. This scenario could push XRP’s utility-driven price above $3 and possibly beyond $4, depending on broader market sentiment and retail participation. At press time, XRP is priced at $2.36 , reflecting a slight daily decline. However, technical indicators suggest underlying strength. The MACD line is above the signal line, a positive momentum signal. Additionally, the histogram remains in bullish territory. The RSI sits at 53, signaling neutral conditions but showing room for an upside move before hitting overbought levels. Related: Ripple’s RLUSD Stablecoin Could Enter Top 5 by 2025, Says Analyst Moreover, historical behavior supports optimism. In December 2024, XRP surged over 70% after RLUSD secured regulatory approval. If RLUSD gains traction as a mainstream payment option across the U.S., a similar or greater rally is conceivable. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Michael Saylor, Executive Chairman of Strategy, recently addressed whether buying Bitcoin today still presents long-term value. Using historical and economic analogies, he compared the cryptocurrency’s growth to major financial hubs like New York City, drawing parallels to how smart capital consolidates around dominant networks. His argument centers on Bitcoin’s evolving position as the central economic infrastructure of cyberspace. Saylor explained that throughout history, economic empires have consolidated around specific cities, Carthage, Rome, Venice, London, and New York, each serving as central hubs for financial and trade activities. In the digital age, he claimed that Bitcoin holds a similar position in cyberspace. According to Saylor, Bitcoin is becoming the main network for digital applications and money transfers across global jurisdictions, including Singapore, Paris, and China. He emphasized that the value of Bitcoin lies not in its price, but in the strength of the network it supports. With a fixed supply of 21 million coins and a structure backed by over 400 exahashes of computational power, Bitcoin is now considered the most secure and resilient computer network. Related: Bitcoin Price Surge Drives Solana Memecoin Deployments Saylor then noted that approximately $950 trillion in global assets, including real estate, bonds, equities, and gold, carry a large monetary premium. He argued that much of this capital is stored in inefficient assets that store value. Gold, for instance, has underperformed relative to Bitcoin over the past two years. From his view, as investors recognize this underperformance, a shift away from these traditional assets may accelerate Bitcoin adoption. Citing historical trends, he observed that investment in New York real estate would have been valuable even a century after the city’s economic rise. Applying that same logic, he suggested that Bitcoin remains a viable long-term acquisition, even for new participants entering the market today. Saylor also compared Bitcoin to physical real estate, arguing that just as investors prefer premium property in major cities, Bitcoin represents digital real estate in the most established and secure part of cyberspace. Related: A heated debate is underway in crypto: Is Bitcoin destined to remain king, or will altcoins prevail? In this context, he likened most speculative altcoins to penny stocks—appealing perhaps for their low cost but, in his assessment, lacking in long-term value and fundamental network integrity when compared to Bitcoin. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.