James Wynn Opens New $100M Bitcoin Long After Liquidation, Alleges Manipulation

Coinbase Knew in January About Outsourcing Breach That Exposed Customer Data, Sources Say

Coinbase was aware as early as January of a customer data breach involving outsourcing firm TaskUs, according to six sources cited by Reuters. The breach, tied to a larger $400 million extortion campaign, involved a TaskUs employee in India who allegedly leaked Coinbase user data to hackers in exchange for bribes. While Coinbase disclosed the incident publicly in May, insiders say the company was notified immediately after the January breach. Over 200 TaskUs staff were later fired, and Coinbase has since severed ties with involved personnel. The full extent of the breach and any law enforcement action remains unclear.

Crypto Trader James Wynn Opens New $100M Bitcoin Long Days After Liquidation, Claims Market Manipulation

James Wynn, a prominent crypto trader, has opened a new $100 million leveraged long position on Bitcoin just days after being liquidated from a similar trade. According to Hypurrscan, the new position risks liquidation if BTC falls below $103,630 and is currently showing a $592,000 unrealized loss. Wynn claims that his positions are being deliberately targeted by market makers and alleges coordinated manipulation. In response, dozens of blockchain users have donated stablecoins to support his efforts. Despite recent bearish pressure, Wynn predicts a surprise Bitcoin rally, while traders await the upcoming U.S. jobless claims report for market direction.

Ripple CEO Denies $5B Bid for Circle, Emphasizes Focus on Real-World Financial Infrastructure

Ripple CEO Brad Garlinghouse has denied reports that the company attempted to acquire stablecoin issuer Circle for $4–5 billion. In a recent conversation with Georgetown Law professor Chris Brummer at the Ripple Las Vegas conference, Garlinghouse stated that Ripple never pursued such a deal. This contradicts Bloomberg’s report that Ripple made an offer which Circle rejected, with Coinbase allegedly counterbidding. Circle maintains it is not for sale and is moving ahead with its IPO at a $7.2 billion valuation.

Ripple is instead focused on expanding its footprint in real-world financial infrastructure. After launching its own RLUSD stablecoin and receiving regulatory approval in New York, Ripple has made significant acquisitions, including a $1.25 billion purchase of credit network Hidden Road. Brummer noted Ripple’s strategy leans toward acquiring fiat-on ramps and payment processors that bridge traditional finance and crypto.

Pump.fun Targets $1 Billion Raise at $4 Billion Token Valuation Amid Memecoin Boom

Pump.fun, a viral Solana-based memecoin launchpad, is planning to raise $1 billion through a token sale at a $4 billion valuation, according to sources cited by Blockworks. The sale will involve both public and private investors, though exact launch details remain unconfirmed. A teaser post suggests the token could go live within two weeks.

Launched in early 2024, pump.fun has quickly gained traction by allowing users to mint Solana tokens instantly and for free. The platform has generated over $700 million in revenue and facilitated the creation of nearly 11 million tokens with a combined market cap of around $4.5 billion.

Amid growing competition, pump.fun has rolled out updates such as its own automated market maker (AMM), ending reliance on Raydium, and relaunched a live streaming feature alongside a new mobile app.

Resources:

Blockworks

The Block

Reuters

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