OVERVIEW

Coinbase Can’t Get A Break 🤦

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

CRYPTOTWITS
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NEWS
COIN Updated Terms Before Telling Everyone About The Breach? 💅

$COIN ( ▼ 0.08% ) is quite literally one of those close friends you have where drama just sticks to them like the smell of gasoline when even a tiny amount splashes onto your shoe. ⛽️ 

Last week’s news about Coinbase was about getting into the S&P 500 and a data breach of Coinbase customer data.

This week? This:

In April, Coinbase announced changes to its user agreement that added two clauses limiting class action lawsuits and requiring lawsuits to be filed in New York. The changes apply to disputes initiated after May 15.

On May 14, Coinbase disclosed a data breach.

— Molly White (@molly0xFFF)
1:21 AM • May 20, 2025

Before we get into the nitty gritty here, here’s a timeline of events:

• April 12 – Coinbase changes user agreement

• May 11 – Coinbase gets a $20 million ransom note

• May 14 – Coinbase discloses the ransom note and theft of customer data

• May 15 – SEC filing says Coinbase was aware of something fishy in the ‘previous months’

Source: U.S. Securities and Exchange Commission. (2025, May 14). Form 8-K for Coinbase Global, Inc.

Did Coinbase Pull a Fast One? 🤔 

Coinbase’s SEC filing on May 15 vaguely confessed their security team caught wind of shady internal activity “in previous months.” ‘Previous months’ could mean January, February, March, or April, right before the updated legal terms.

Their official blog? Tight-lipped as of 1400 EST today.

But, given how the whole last two-ish weeks have been going, I’m not surprised they’re waiting to make a response. Maybe we’ll see something tomorrow. Either way, we’ll keep you updated.

How Do Stocktwits Users Feel? 🎭️ 

Stocktwit’s sentiment data shows people are still extremely bullish and talking about COIN at high volumes. However, the numbers are down from yesterday’s sentiment score of 91 and message volume score of 87.

Stocktwits Coinbase Sentiment Data

TECHNICAL ANALYSIS
Golden Cross(es) Incoming? 🤞 

Expect to see a metric crap ton of news stories and articles about Bitcoin’s upcoming Golden Cross. Which is nothing more than the 50-day moving average crossing above the 200-day moving average. 📈 

It’s not there yet, but it’s getting closer:

BTCUSD Daily Chart – Click to enlarge.

Given the range $BTC.X ( ▲ 1.12% ) is from its 200-day SMA (simple moving average), it’s not surprising to see Bitcoin getting close to confirm it’s first golden cross since October 28, 2024.

Others Are Prepped For Their Own Golden Cross 🤞 

And there are a good number of altcoins that are above their 200-day SMAs, giving bulls the conditions necessary for some altcoins to see their own golden cross:

Bittensor

TAOUSD Daily Chart – Click to enlarge.

Curve Finance

CRVUSD Daily Chart – Click to enlarge.

Quant

QNTUSD Daily Chart – Click to enlarge.

Sui

SUIUSD Daily Chart – Click to enlarge.

Keep an eye on how many more altcoins begin to close above their 200-day SMA. 👁️ 

AI
World Opens Atlanta Flagship – Georgia Loves Proving They’re Humans 🌐

World launched its latest flagship in Atlanta’s hipster-approved Ponce City Market, showing off its “Orb” that verifies humanness without snooping on your data (supposedly).

Georgians reportedly love the idea, desperate to prove they’re real humans (and not bots) when applying for jobs or swiping right.

Honestly, it’s a cool idea – unless your World ID verification fails, leaving you existentially questioning if you’ve secretly been an AI all along. WorldCoin.

GAMING
Crypto Gaming Meets Gulag Edition 🚨

Russian authorities arrested Vladimir Smerkis, the co-founder of crypto game Blum (which let you tap falling snowflakes for crypto—truly peak innovation).

Smerkis faces up to 12 years for alleged fraud connected to past crypto ventures, and Blum immediately distanced itself.

Nothing says trustworthy like dropping your founder faster than the ruble’s value, comrade. ZyCrypto.

NEWS
Brad Garlinghouse and Senator Cynthia Lummis Are Still Fighting 🥊 

Ripple CEO Brad Garlinghouse is publicly salty after Senator Cynthia Lummis canceled their meeting.

This isn’t new, XRP fans and Bitcoin maxis have been beefing forever, and Garlinghouse loves to internet fight like anyone else.

Lummis hasn’t even bothered responding yet – ignoring XRP’s feelings. Protos.

PRIVACY
Zcash: iCloud Backups Kinda Suck for Privacy 📱 

Zashi, the Zcash crypto wallet obsessed with privacy, politely points out that your iCloud backups might leak your transaction history (thanks, Apple).

Luckily, disabling backups or enabling Advanced Data Protection can keep your crypto trades hidden from Tim Cook.

Honestly though, privacy-focused apps on Apple devices feel a bit like installing curtains in a glass house – nice idea, but someone’s always watching anyway. Zcash.

BITCOIN
Is Peter Schiff Ok? 80% of Americans Want to Swap Gold for Bitcoin 🪙

A recent poll claims 4 out of 5 Americans now think Uncle Sam should swap some dusty gold bars for shiny digital coins.

The U.S. still values its massive gold stash at a laughably ancient $42 per ounce (yes, really), which, if revalued to today’s price, could free up over $820 billion in “pretend money” for a Bitcoin buying spree.

Younger people especially loved this idea, probably because they prefer their economic crises delivered digitally rather than via traditional methods like banks or housing bubbles. CryptoSlate.

OLD NEWS
Last Years News, Today 👴

From the May 20, 2024 Litepaper:

• ETH ETF Approval Rumors Spark Rally:

  • Bloomberg analysts predict 75% chance of SEC approving Ethereum spot ETFs this week.

  • ETH surged sharply on the news, hitting highs not seen since early April.

• On-chain Bitcoin Insights:

  • Santiment data reveals smaller BTC wallets dumped holdings – a bullish indicator historically.

• Grayscale Leadership Shakeup:

  • CEO Michael Sonnenshein stepping down; Goldman Sachs veteran Peter Mintzberg taking over on August 15.

  • Change follows years of SEC rejections for GBTC ETF conversion, high fees, liquidity issues, and lagging returns.

• Web3 Gaming Buzz:

  • Draftables sold out Founder Pass NFTs in under 10 minutes ahead of fantasy sports gaming launch.

  • Animoca Brands Japan releasing “FAIRY TAIL” digital collectibles on Quidd, starting May 24.

• Quick Crypto News:

  • Venezuela bans crypto mining due to power grid instability.

  • XRP Ledger transactions surged 108% despite ongoing SEC litigation.

  • Genesis plans $3B payout (77%) to creditors in bankruptcy settlement.

LINKS
Links That Don’t Suck 🔗

👍️ Senate passes prelim vote on stablecoin GENIUS Act

💳️ Pera Wallet launches the Pera Card on Algorand in partnership with Immersve

🤖 NVIDIA powers humanoid robot industry with cloud-to-robot computing platforms for physical AI

☑️ Man Faces Multiple Charges in Alleged $350,000 Check Kiting Scam Targeting US Bank

👿 Diablo 4 players criticize ‘lack of content’ and ‘aggressive’ monetization

🧬 First CRISPR-edited spider spins red fluorescent silk

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