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Coinbase assists the Brooklyn District Attorney's Office in combating fraud cases, involving approximately 16 million dollars

Coinbase officially stated that it is cooperating with the Brooklyn District Attorney's Office in New York, assisting in the investigation of a long-term impersonation fraud case targeting platform users and supporting victims in recovering funds.According to the Brooklyn District Attorney's Office, a Brooklyn man has been charged with long-term impersonation of Coinbase customer service, using social engineering techniques to mislead users into believing their accounts were compromised and requesting them to transfer funds to a "secure wallet," subsequently transferring and stealing the funds. The case involves approximately 100 victims, with the amount in question nearing $16 million, and over $600,000 has been recovered so far.Coinbase stated that such scams do not stem from platform security vulnerabilities but are social engineering attacks that exploit user trust and urgency, with common tactics including identity forgery, impersonating customer service, and creating account risk panic. The company claims to have cooperated with law enforcement to complete various investigative tasks, including identifying suspects, assisting victims in notifications, providing legal request data support, and on-chain fund tracking, emphasizing that blockchain traceability helps law enforcement track the flow of funds.Coinbase also reminds users that the platform will never ask users to transfer funds to a "secure wallet," nor will it request 2FA verification codes, recovery phrases, or password reset links, and advises users to contact customer service only through official in-app channels. The company will continue to strengthen anti-fraud mechanisms, user education, and cooperation with law enforcement to address the increasingly complex cryptocurrency asset fraud.

Bloomberg analyst: Bitcoin may be shifting from "leading risk assets" to "leading bearish signals."

According to Mike McGlone, Chief Commodity Strategist at Bloomberg, Bitcoin has significantly led risk assets in previous upward cycles, and this leading relationship may be reversing in the current phase. In his latest comments, he stated that Bitcoin has previously "driven risk assets upward," but now "may also drive them downward," and believes that based on its comparison chart with the S&P 500 scaled up by 10 times, the overall β assets may enter a downward year in 2026.He emphasized that since 2009, the annual total return of the S&P 500 has only declined in 2018 and 2022, both of which coincided with Bitcoin's downward cycles and corresponded to the U.S. midterm election cycles. He believes the difference in the current market is that structural pressures are accumulating: inflation has re-emerged as a core political issue, while stock market volatility has remained low for an extended period, but risk indicators for commodities like gold and oil have continued to rise. This combination of "low volatility stocks + high-risk commodities" is historically rare.Additionally, McGlone stated that since 2026, both Bitcoin and gold have shown signs of "mean reversion," which may indicate that the risk asset cycle is entering a repricing phase. He pointed out that Bitcoin and gold have retraced about 50% from their 2025 peak (around $126,000), while the total return index for U.S. Treasuries may be forming a phase bottom from a low area not seen since 1983.Currently, the market still lacks key confirmation signals: specifically, the S&P 500 to GDP ratio has fallen from near its highest level since 1928. If this indicator begins to turn, it may signify that a broader risk asset cycle is entering a structural adjustment.

first_img Bloomberg: The growth of the cryptocurrency industry is decoupling from Bitcoin prices, with institutions focusing on long-term infrastructure and practical use cases

According to Bloomberg, Bitcoin fell below $60,000 last week, with a market value evaporating by about $235 billion within seven days, nearly halving from last year's peak. The market value of altcoins has shrunk from a peak of $431 billion in November 2021 to about $170 billion, with less than 1,700 of the tens of millions of tokens created in recent years still having substantial trading activity. However, in stark contrast to the price trends, the most commercially valuable businesses in the crypto industry are accelerating growth.The annual trading volume of stablecoins reached about $390 billion, with total trading volume soaring 72% to $33 trillion by 2025. Over $30 billion in assets have been tokenized, and BlackRock's tokenized money market fund BUIDL has an asset size of $2.4 billion. Visa and Mastercard are expanding stablecoin settlement capabilities, and Nasdaq is collaborating with Kraken to offer tokenized stocks.Bloomberg Intelligence's Mike McGlone stated that the most important technology is stablecoins; when you have stablecoins, you don't need XRP or Bitcoin to store value. We are experiencing a cleansing, and this has only just begun. EMJ Capital founder Eric Jackson pointed out that "the Bitcoin price chart used to be the entire crypto story, but it is no longer."
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