Coinbase Trading Volume Surges to $2.548 Billion, Ranks 22nd in Daily Market as Data Scandal Sparks KYC Debate

On June 3, 2025, Coinbase Global (COIN) saw a significant increase in trading volume, reaching $2.548 billion, a 67.5% rise from the previous day. This surge placed Coinbase at the 22nd position in the daily stock market rankings. The stock price also rose by 4.94%, marking the second consecutive day of gains with a total increase of 4.98% over the past two days.

Recently, a data scandal involving Coinbase has sparked intense debate within the cryptocurrency community. An insider at Coinbase exposed the personal data of 70,000 users, leading to calls for a reevaluation of the Know Your Customer (KYC) systems currently in place. This incident has raised concerns about data privacy and security, prompting discussions on whether the existing KYC protocols are effective or if they need to be overhauled.

Critics argue that KYC systems, intended to prevent fraud and illegal activities, have instead caused harm and enabled crimes. The scandal has highlighted the vulnerabilities in current data protection measures and has led to a broader conversation about the future of KYC in the cryptocurrency industry. As the debate continues, Coinbase faces the challenge of restoring user trust and enhancing its data security protocols.