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Today's Top Crypto Headlines:
JPMorgan Enters Bitcoin | Kraken EU Derivatives | Coinbase Data Leak | Senate Pushes GENIUS and more...
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
JPMorgan Opens Bitcoin Access: JPMorgan will let clients buy Bitcoin and access spot ETFs, though it won’t offer custody services.
Kraken Launches EU Derivatives: Kraken has launched regulated crypto derivatives trading in Europe under MiFID II after acquiring a Cypriot firm.
Coinbase Suffers Data Leak: A Coinbase breach exposed personal user data, raising safety concerns. Hackers bribed offshore agents to access internal systems.
💡Feature of the Day - GENIUS Act Moves Forward: The US Senate advanced the GENIUS Act, a stablecoin regulation bill, despite concerns about Trump’s crypto ties.
All this and more in today’s headlines!
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📰 News Highlights:
JPMorgan CEO Jamie Dimon announced that the bank will soon allow its clients to purchase Bitcoin through the platform but will not offer custody services.
While maintaining his skeptical stance on cryptocurrencies, Dimon clarified that JPMorgan would reflect Bitcoin purchases in client statements and offer access to spot Bitcoin ETFs, joining competitors like Morgan Stanley in doing so.
“I defend your right to buy Bitcoin.” – Jamie Dimon, JPMorgan CEO
— Michael Saylor (@saylor)
7:16 PM • May 19, 2025
Despite Dimon’s continued criticism of crypto — citing its use in illicit activities and dismissing Bitcoin as “worthless” and a “pet rock” — JPMorgan is responding to increasing investor demand.
🎁Freebie:
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Kraken has launched regulated crypto derivatives trading for retail and institutional users in Europe under MiFID II, following the acquisition of a Cypriot investment firm.
📣 Kraken Pro FUTURES trading is now regulated across Europe!
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— Kraken Pro (@krakenpro)
12:32 PM • May 20, 2025
This enables clients across the European Economic Area to access perpetual and fixed maturity crypto futures directly on Kraken’s platform.
More info ⤵️
— Kraken Pro (@krakenpro)
12:32 PM • May 20, 2025
Other firms like Coinbase and Gemini are also expanding crypto derivatives offerings across the region.
Coinbase confirmed a major data breach that exposed personal information, including home addresses, of a small percentage of users — raising serious safety concerns.
I am a long time investor in and champion of @coinbase. Something that has to be said though - this hack - which includes home addresses and account balances - will lead to people dying. It probably has already. The human cost, denominated in misery, is much larger than the $400m
— Michael Arrington 🏴☠️ (@arrington)
10:05 PM • May 19, 2025
Though no passwords or funds were stolen, TechCrunch founder Michael Arrington warned the leaked data could lead to violent crimes, given the rising value of crypto and ongoing cases of investor-targeted kidnappings.
At the government level, they really need to think through KYC regulations as well. The stated intent of these laws is to reduct money laundering, but what they are really about is tracking the tax donkeys and ensuring that revenue is maximized.
Combining these KYC laws with
— Michael Arrington 🏴☠️ (@arrington)
10:08 PM • May 19, 2025
Cybercriminals reportedly bribed offshore customer service agents to access internal systems, demonstrating vulnerabilities in human-centric security lapses.
Great point. The confluence of these factors is the issue. Without the crazy KYC laws they wouldn't be storing this sensitive info, but Coinbase has no excuse for using low budget offshore CX at this point - they can afford better, and here's 400 million reasons why they should.
— LukeYoungblood.eth 🛡️ (@LukeYoungblood)
7:13 AM • May 20, 2025
The breach could cost Coinbase up to $400 million, but experts argue the human risk is far more severe.
Why is nobody talking about the fact that if they didn’t offshore and outsource their customer support teams to the Philippines and other non-US areas this probably wouldn’t have happened? Much riskier to leak information when your boss is in walking distance from your cubicle,
— Jared McKenzie (@jmckenzie122)
1:40 AM • May 20, 2025
💡 Feature of the Day:
The US Senate advanced the GENIUS Act, a bill to regulate stablecoins, in a 66–32 procedural vote, setting it up for debate on the floor.
I’m on the Senate floor right now urging my colleagues to vote no on the GENIUS Act.
There is no excuse for Congress to pass a crypto bill that will turbocharge Trump’s corruption. x.com/i/broadcasts/1…
— Elizabeth Warren (@SenWarren)
8:55 PM • May 19, 2025
Initially stalled due to concerns about Donald Trump’s crypto involvement, the bill now has renewed bipartisan momentum.
Senator Warren- this isn’t about Trump or anything else you’re trying to make it about. The GENIUS bill is about stable coin proliferation— and via blockchain rails, a more modern and advanced payment system that will help ensure USD dominance. Thusly it helps our economy while
— AncientMedicine (@AncientMedicin3)
12:17 AM • May 20, 2025
Despite Democratic concerns about Trump's potential financial gains from the bill — including ties to several crypto ventures — lawmakers stressed the importance of not delaying US crypto regulation.
😂 Crypto Meme of the Day:

Meme of the day provided by @Gate_io
And that’s it for this today.
See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com