🚀 BREAKING: The #Coinbase#CEO has discovered the secret to success—fire anyone who dares to question the almighty #AI 🤖. Apparently, if you’re not coding Skynet by lunch, you better update your LinkedIn. 🤦♂️ Because who cares about quality when you have buzzwords? #InnovationOrElse
https://techcrunch.com/2025/08/22/coinbase-ceo-explains-why-he-fired-engineers-who-didnt-try-ai-immediately/#Success#Buzzwords#Innovation#Disruption#HackerNews #ngated
mkb
boosted
my testing of Phone Assistants continues with #Mitra. I have Mitra calling all the scammers that texted me pretending to be #Coinbase and asking them if they need help and why they're impersonating Coinbase 😆
first two didn't answer, the others are still happening. i like that you can follow the call when someone picks up.
my testing of Phone Assistants continues with #Mitra. I have Mitra calling all the scammers that texted me pretending to be #Coinbase and asking them if they need help and why they're impersonating Coinbase 😆
first two didn't answer, the others are still happening. i like that you can follow the call when someone picks up.
@cryptadamist and after the other custodians shat the bed
prime trust gambling the entrusted assets on terra-luna, *goodness me*
@davidgerard i actually have some faith that coinbase custody is better run than literally anyone else based on what i've seen on chain - for instance, unlike say a company like bybit, they don't store billions of dollars of crypto in one wallet and instead break everything into chunks of ~$20 million (at least for stablecoins; i assume other stuff is similar).
so i suspect that coinbase custody is set up in such a way that even if they lose one wally, the other wallets aren't immediately also compromised.
at the same time, with that much money on the line every gifted teenager in north korea is probably laser focused on hacking #coinbase...
David Gerard
boosted
@davidgerard p.s. just to put some numbers on exactly how centralized the global bitcoin supply is in #coinbase, it looks like they are custodying 80% of the ETFs (~$113 bn) plus MSTR (~$50bn) and a couple others, and then also their customers.
taking into account lost bitcoins, they're probably custodying more than 10% of all the bitcoins in the world
@davidgerard my guess is that they will fork the bitcoin chain to undo the hack
@davidgerard p.s. just to put some numbers on exactly how centralized the global bitcoin supply is in #coinbase, it looks like they are custodying 80% of the ETFs (~$113 bn) plus MSTR (~$50bn) and a couple others, and then also their customers.
taking into account lost bitcoins, they're probably custodying more than 10% of all the bitcoins in the world
Coinbase says its data breach affects at least 69,000 customers• @TechCrunch
｢ In a blog post, Coinbase said the hacker demanded $20 million in a ransom payment to delete the data, which Coinbase refused to pay. The company said the hacker bribed Coinbase customer support workers into accessing customers’ data over a period of several months ｣
https://techcrunch.com/2025/05/21/coinbase-says-its-data-breach-affects-at-least-69000-customers/