Coinbase unveiled a developer-focused wallet that automatically activates 4.1% rewards on USDC balances.

Called Coinbase Developer Platform (CDP) Embedded Wallets, the product is part of and is aimed at giving builders the same secure, scalable infrastructure that powers millions of Coinbase accounts, according to an August 5 announcement.

CDP Embedded Wallets support Ethereum Virtual Machine (EVM)-compatible chains and Solana, pairing “web2-style” logins via email, SMS, and OAuth with self-custody. 

Keys are secured in trusted execution environments (TEEs), while developers can define policies and plug into a unified toolkit for onramps, swaps, transfers, balances, staking, and rewards. 

Coinbase says developers can create brandable wallets in under 200ms, then monetize idle balances via the native 4.1% USDC rewards.

Early use cases include remittances, payment links, DeFi marketplaces, B2B payroll, creator payouts, and gaming with on-chain assets and free USDC sends on Base.

As part of the beta, Coinbase Onramp customers can use Embedded Wallets at no cost through September 30.

US stablecoin clarity propels movement

Coinbase ties the launch to fresh US policy momentum on stablecoins. The GENIUS Act cleared the House on July 17. It was signed into law on July 18, establishing the first federal framework for dollar-backed stablecoins and signaling regulatory support for “faster, cheaper” payments. 

The House also passed the CLARITY Act the same day, sending it to the Senate. The CLARITY Act would create a regulatory regime for digital assets other than stablecoins and give the CFTC sole authority over transactions in digital commodities.

With that backdrop, Coinbase says developers are moving quickly to build on stablecoin-native rails, and the wallet’s auto-rewarding USDC feature is positioned to ride that shift.

Coinbase frames CDP Embedded Wallets as a way to cut integration overhead, replacing stitched-together APIs with a single stack while keeping users in a non-custodial flow.

For builders, the proposition offers a faster path to market, complete with familiar logins, end-to-end onboarding, and built-in yield on idle USDC.

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The UK Financial Conduct Authority (FCA) has formally lifted its 2021 ban on crypto exchange-traded notes (cETNs) for retail investors.

In an Aug. 1 announcement, the regulator confirmed that these products will now be available on UK-regulated markets, marking a significant policy shift to broaden access to digital asset investments.

The original ban was introduced amid concerns over market volatility and consumer protection. At the time, the FCA argued that crypto ETNs carried “inherent risks, ” making them unsuitable for individual investors.

However, the regulator now believes the market has matured sufficiently to justify a controlled reintroduction, highlighting better infrastructure, increased transparency, and a more informed investing public.

David Geale, the FCA’s Executive Director of Payments and Digital Assets, said the regulator’s decision reflects changing market conditions. According to Geale, crypto investment products are now more comprehensible, and the supporting infrastructure has advanced.

This move mirrors global trends, particularly in the U.S., where crypto-linked ETFs—especially those tied to Bitcoin and Ethereum—have experienced rapid growth. The broader digital asset market has also gained momentum amid a more supportive regulatory environment under President Donald Trump’s administration.

Cautions remain

Despite the move toward inclusion, the FCA continues to urge caution.

According to the regulator, crypto ETNs remain unprotected by the Financial Services Compensation Scheme (FSCS), meaning retail investors will not be eligible for reimbursement in the event of losses.

To minimize consumer risk, providers of cETNs must comply with updated financial promotion rules and ensure all marketing materials are fair, transparent, and not misleading.

Geale also stressed the critical importance of transparency and investor education in the space. According to him, firms offering cETNs must help customers assess whether such instruments align with their financial objectives and risk profiles.

Meanwhile, the FCA stressed that it is still restricting retail trading of crypto derivatives. The regulator considers those products too complex and volatile for the general public.

This policy update is part of the UK’s broader push to create a structured regulatory environment for digital assets. As part of its long-term crypto roadmap, the FCA is expected to introduce additional proposals for investor protection and market integrity.

This move comes just a day after GameStop shares surged nearly 12% when the company revealed that its board had unanimously approved an update to its investment policy, designating Bitcoin as a treasury reserve asset.

GameStop Planned Bitcoin Investment

The planned investment in Bitcoin follows a recent trend of GameStop exploring cryptocurrency ventures. Reports surfaced about a month ago indicating that the company was considering investments in the digital currency space. 

Speculation intensified on February 8 when GameStop CEO Ryan Cohen shared a social media post featuring a photo with Michael Saylor, the CEO of Strategy (MSTR), a company renowned for its substantial Bitcoin holdings, which exceed 447,000 BTC tokens.

Saylor’s strategy of heavily investing in Bitcoin has proven fruitful, with MicroStrategy’s stock appreciating over 84% in the past year, largely in tandem with rising Bitcoin prices. However, Wall Street analysts remain cautious about GameStop’s ability to replicate this success. 

Skepticism From Wall Street Experts

“The company’s strategy, which has changed about six times in three years, is they’re going to buy cryptocurrency and be just like MicroStrategy,” noted Wedbush analyst Michael Pachter. 

Pachter further expressed skepticism about the effectiveness of this approach, particularly given Strategy trades at roughly two times its Bitcoin holdings. Pachter added, “If GameStop were to buy all Bitcoin with their $4.6 billion in cash and trade at two times their Bitcoin holdings, the stock would drop five bucks.”

Additionally, GameStop reported its fourth-quarter earnings results after the market closed on Tuesday, revealing $1.28 billion in net sales for the quarter—a 28% decline compared to the same period last year. 

For the full fiscal year, the company posted an adjusted EBITDA of $36.1 million, a decrease from $64.7 million reported the previous year.

Experts’ concerns may also be stemming from Bitcoin’s volatility, which saw a more than 25% retracement from its record high of $109,000 reached during the broader market rally in January. 

This developed into a drop toward the $76,000 mark on March 11th, a level not seen since November 2024. However, the market’s leading crypto has recovered to around $87,477 at the time of writing, reflecting a 4.5% increase in the fourteen-day time frame.

Featured image from DALL-E, chart from TradingView.com

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Bitcoin is currently trading in a tight range between short-term supply and demand, following weeks of heavy selling pressure that sent shockwaves through the broader crypto market. After losing over 29% since its January all-time high, BTC is now searching for direction. Bulls must step up and reclaim the $90,000 level to restore confidence and confirm the start of a recovery rally. Until then, uncertainty remains the dominant theme.

Adding to this cautious sentiment is the broader macroeconomic backdrop, with trade war fears and global financial instability weighing heavily on investor confidence. Volatility in equities and geopolitical tensions have spilled into the crypto space, making it harder for Bitcoin to establish a clear trend.

Top crypto analyst Ali Martinez shared a technical analysis on X, revealing that Bitcoin may have completed a classic cup-and-handle formation, topping at around $109,000. However, this doesn’t necessarily signal further downside. Instead, it highlights that Bitcoin is currently without a defined direction.

For now, Bitcoin is holding its ground, but whether the next move is a breakout or a breakdown will depend on how the market responds in the days ahead.

Bitcoin Faces A Pivotal Test After 13% Rebound

Bitcoin has quietly rallied over 13% since its March 11 low near $76,600, with bulls now setting their sights on reclaiming the $88,000 level. This recent surge has brought cautious optimism to the market, but the path ahead remains uncertain. Bitcoin is currently facing a critical technical and psychological test, as it struggles to recover from a sharp downtrend that began after its January all-time high.

Investor sentiment has been mixed. Many entered 2025 with expectations of a strong bull run, but recent price action and growing macroeconomic concerns have prompted some analysts to call for the start of a bear market. According to Martinez, Bitcoin may have already completed a classic cup-and-handle pattern, topping out around $110,000—just $5,000 shy of the expected $115,000 target. If this technical blueprint holds true, the current correction may simply be part of a broader consolidation phase.

This view aligns with the idea that Bitcoin needs to stabilize before its next major move. Bulls must defend current levels and build momentum to push past the $90,000 barrier. Until then, BTC appears to be in a holding pattern, caught between the hope for a resumed uptrend and the fear of deeper downside risk.

BTC Price Hovers At $84K As Bulls Face Critical Resistance

Bitcoin is currently trading at $84,100 after several days of tight consolidation and slow price action around this level. Market participants are closely watching this range, as it represents a key short-term battleground between bulls and bears. For any meaningful recovery to take place, bulls must reclaim the $87,300 level, which aligns with both the 4-hour 200-day moving average (MA) and the 4-hour 200-day exponential moving average (EMA).

A decisive move above these indicators would likely spark a renewed push toward the $90,000 level, a psychological and technical barrier that could confirm the beginning of a short-term bullish trend. However, failure to reclaim $87,300 and maintain strength above $84,000 could tip the balance in favor of the bears.

If BTC loses the $84,000 support, the next likely target sits below $81,000, where lower demand zones could come into play. This would reinforce the ongoing uncertainty in the market and raise the risk of a deeper correction. As traders await direction, all eyes are on BTC’s ability to reclaim momentum and flip resistance into support. The next few sessions could be pivotal for Bitcoin’s short-term price structure.

Featured image from Dall-E, chart from TradingView 

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Zashi just got a major UX upgrade! The latest update introduces powerful tools to search, filter, and manage transactions effortlessly. Here’s what’s new:

Bookmark important transactions for quick access
Add private notes to remember payment details
Filter transactions by type, memos, or notes
Search by amount, contact name, wallet address, notes, or memo content
Export transactions in a tax-friendly format

Bookmark Transactions

Easily mark important transactions for quick access. Bookmarks are stored locally and backed up privately as encrypted metadata.

Add Private Notes

Ever forgotten why you sent or received ZEC? Now you can add and edit private, encrypted notes to any transaction.

Smarter Transaction History

No more endless scrolling! The home screen now shows only recent transactions, with a ‘See All’ button that takes you to a fully searchable, filterable history—now grouped by month for easier navigation.

Simplified Tax Reporting

Tax season just got easier! Export a .csv file of your transaction history for simplified tax reporting. Just go to Advanced Settings → Export Tax File and download your Zashi activity from the previous calendar year.

Other UX & UI Improvements

We’ve made refinements across the app for smoother navigation, a cleaner design, and better accessibility. Plus, Keystone integration is now easily accessible from Settings.

What do you think about the latest update? Let us know, so we can make Zashi even better! 

And as always…

Happy transacting.

Scammers are impersonating the BianLian ransomware gang in fake ransom notes sent to US companies via snail mail through the United States Postal Service.

The fake ransom notes were first reported by Guidepoint Security today, with BleepingComputer later being sent a scan of the note from a CEO who received the same letter.

The envelopes for these ransom notes claim to be from the “BIANLIAN Group” and have a return address located in an office building in Boston, Massachusets:

BIANLIAN GROUP
24 FEDERAL ST, SUITE 100
BOSTON, MA 02110

In the letter shared with BleepingComputer, the envelope shows it was mailed on February 25th, 2025. This mailing date is the same as the one seen by Arctic Wolf, who also reported on the scam today.

The letters are being mailed to the CEO of the companies at their corporate mailing address and show that they were processed through a postal facility in Boston, with the envelope marked, “Time Sensitive Read Immediately.”

The envelopes contain a ransom note addressed to the company’s CEO or another executive, claiming to be from the BianLian ransomware operation. According to notes reviewed by BleepingComputer, they are tailored to the company’s industry, with different types of allegedly stolen data corresponding to the company’s activities.

For example, fake BianLian ransom notes sent to healthcare companies claim that patient and employee information was stolen, while those targeting product-based businesses allege the exposure of customer orders and employee data.

“I regret to inform you that we have gained access to [REDACTED] systems and over the past several weeks have exported thousands of data files, including customer order and contact information, employee information with IDs, SSNs, payroll reports, and other sensitive HR documents, company financial documents, legal documents, investor and shareholder information, invoices, and tax documents,” reads a fake BianLian ransom note.

The mailed ransom notes are very different from BianLian’s, but the scammers attempt to make them look convincing by including the real Tor data leak sites for the ransomware operation in the notes.

However, unlike typical ransomware demands, these fake notes state that BianLian is no longer negotiating with victims. Instead, the victim has 10 days to make a Bitcoin payment to prevent data from being leaked.

Each ransom note includes a ransom demand ranging between $250,000 and $500,000, a freshly generated Bitcoin address to send payment, and a QR code for the Bitcoin address.

Arctic Wolf said that all healthcare organizations had their ransom demand set to $350,000, which is the same as the one shared by a healthcare company with BleepingComputer, as shown below.

Furthermore, Arctic Wolf states that two ransom notes the researchers saw included legitimate compromised passwords to add legitimacy to the demand.

“In at least two letters, the threat actor included a compromised password within the How did this happen? section, almost certainly in an attempt to add legitimacy to their claim.” explained Arctic Wolf.

The consensus in the reports is that these ransom notes are fake and are only designed to scare executives into paying a ransom, as there are no signs of an actual breach.

“While GRIT cannot confirm the identity of the letter’s authors at this time, we assess with a high level of confidence that the extortion demands contained within are illegitimate and do not originate from the BianLian ransomware group,” explains GuidePoint Security researcher Grayson North.

However, this does not mean the emails should be ignored. Due to the widespread mailing of these notes, all IT and security admins should notify executives about the scam so that they are aware and do not waste time and resources worrying about them.

These fake ransom notes are an evolution of the email extortion scams that have become so popular since 2018. However, instead of targeting personal emails, they are now targeting the CEOs of corporations.

BleepingComputer contacted the BianLian ransomware operation to see if they were involved with these mailings, but a reply was not immediately available.

Emily Nicolle, a crypto reporter for Bloomberg, gave her take on Bitcoin as the firstborn cryptocurrency plunged 13% and entered bear territory. This might have been due to macroeconomic uncertainty and political factors.

‘Very Risk-On Asset’

Nicolle said in a Bloomberg TV interview that the current movement in Bitcoin is highly correlated with the changes in the macroeconomic landscape, adding that anything that happens on Wall Street could affect the cryptocurrency.

The crypto reporter explained that investors can never discount the impact of the macroenvironment on Bitcoin, saying, “Everything that’s happening to stocks that knocks on crypto too.”

Nicolle described Bitcoin as “very risk-on assets.” “So, when there’s turmoil happening in the S&P 500, you’re going to see that in Bitcoin as well. And so that is definitely catapulting this,” she added.

The analyst added that aside from the macroeconomic environment, the cryptocurrency sector went through a rough period. “We’ve had a 1. 5 billion hack last week. We’ve had some turmoil in terms of what’s going on in politics as well,” she continued.

Only a little over a week ago, the cryptocurrency faced a setback after a North Korean-based hacker group stole an estimated $1.5 billion worth of crypto from Bybit, which could be the largest cryptocurrency hacking in history.

“In terms of what people are expecting to see going forward, it’s still very much up in the air as to how Bitcoin could perform even in, even today,” Nicolle said in the interview.

Political Uncertainty

Nicolle also noted that political uncertainty is another factor driving Bitcoin into bearish territory. United States President Donald Trump vowed to establish clearer regulations on cryptocurrency, but these have not been met.

“Some of the things that Trump promised to do on the campaign trail have not yet come to force and those are the kind of catalysts that we’re looking to as potential upsides for Bitcoin in the weeks ahead, things like a strategic Bitcoin reserve,” she explained.

The crypto analyst pointed out that the macroenvironment is weighing very heavily on Bitcoin’s potential. “If we don’t get any movement on that, if things don’t start to look up elsewhere, Bitcoin will continue to be down,” she predicted.

Closely Watching The $70k Mark

Nicolle said that crypto traders are closely watching the $70,000 mark, which is the crucial psychological and technical support zone.

“We’re all looking at about the $70,000 mark at the minute. So, if it does continue to go down, which is kind of to be expected in the current environment, then that is the next point at which we’re going to be starting to think. That is where a lot of the risk is happening,” she explained.

The analyst described Bitcoin as the “tide that lifts all boats” so when it goes up, other cryptocurrencies also go up too. “But those smaller cryptocurrencies are hit harder when there’s tumult in markets. They are just much more volatile by comparison,” she added.

Featured image from FairPlanet, chart from TradingView