Getting onchain just got a whole lot easier. @coinbase is now live in India with INR rails. Come get onchain 🇮🇳

You think passkey is the end game for crypto UX? Well I have some bad news for you. I love passkeys, but they have MASSIVE flaws that NOBODY talks about. People are hyping passkeys as the savior for crypto apps, combining sovereignty UX. But it's actually not sovereign at all, and I would argue it's the wrong direction for crypto altogether. Here's why. #1 - the domain problem Passkeys are scoped to a domain. You can have a passkey for foo dot com, and one for bar dot com, but you can't have the same passkey for both. If passkey=wallet, then this forces you to have a different wallet for every website. Passkeys are not meant to be global. To work around this, what some wallets do is open a pop up window, which is always on the same domain, and prompt the passkey from there. Kinda works but... That makes that domain a central point of failure, and the only way to access your wallet. Domains can go down / be banned at any time. A DNS takeover could compromise every wallet. The site owner could decide to shut down your access at any time. Not sovereign at all. #2 - the new device problem Passkeys are supposed to be "synced" cross devices, but in practice, it only syncs if you're using iCloud on 2 Apple devices or Chrome/android with the same Google account. If you own a Mac and an Android (like me) or a Windows PC and an iPhone, you're screwed. Even on Mac, I get a different passkey if I use chrome vs safari vs arc (where I have the 1password extension) on the SAME WEBSITE. Just read what ppl say about it online, like this article from DHH: world.hey.com/dhh/passwords-… The whole thing is a mess, my mom will never get this right. Not to mention that we're basically giving all our keys to Google/Apple because of that sync feature, and there is no way to eject from that or even turn it off! Passkeys are just giving tech giants more power, opposite of the promise of crypto. ... So what can we do? Instead of falling into the hype trap, let's look at the tech and understand what needs to change to truly use our devices as universal signers. It's actually very close, hardware is there, all that's needed is a change in the specification and for everyone to agree on it. We keep throwing new EIPs out there, how about we get together as a community and push for an extension of the webauthn standard instead? How about we create a passkey sync manager that lives onchain instead of in those tech giant servers? I'm worried that if we keep going this way, we'll end up exactly where we started. We can do better.

1/ This new paper is a true declaration of war: the ECB claims that early #bitcoin adopters steal economic value from latecomers. I strongly believe authorities will use this luddite argument to enact harsh taxes or bans. Check 🧵 for why:

CIRCLE NEWS: Today, we announced the availability of banking and USDC minting/redemption native in Brazil and Mexico, with 24/7 rails (PIX & SPEI) and using local currencies. This is part of our continued global banking infra expansion for USDC. circle.com/blog/usdc-now-ava…

OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities. We're shocked the SEC would make such a sweeping move against creators and artists. But we're ready to stand up and fight. Cryptocurrencies have long been in the crosshairs of the SEC, and companies like @coinbase, @Uniswap, @RobinhoodApp, @krakenfx, and @Consensys have been fighting against the SEC's single-track approach of "regulation by enforcement." But this is a move into uncharted territory. By targeting NFTs, the SEC would stifle innovation on an even broader scale: hundreds of thousands of online artists and creatives are at risk, and many do not have the resources to defend themselves. NFTs are fundamentally creative goods: art, collectibles, video game items, domain names, event tickets, and more. We should not regulate digital art in the same way we regulate collateralized debt obligations. As we've built OpenSea, we've heard so many stories about the impact of NFTs on people’s lives, including: • Student artists finding full-time careers in selling their digital art • Indie game developers instantly enabling open markets for their in-game items, without having to build marketplaces from scratch • Passionate collectors from different corners of the world joining new communities, all centered around shared digital ownership It would be a terrible outcome if creators stopped making digital art because of regulatory saber-rattling. Take, for example, the suit filed against the SEC by the musician @songadaymann and conceptual artist @brianlfrye, which describes their fear that the sale of their art and music could be deemed unregistered securities offerings. In addition to standing our own ground, we're pledging $5M to help cover legal fees for NFT creators and devs that receive a Wells notice. Every creator, big or small, should be able to innovate without fear. I hope the SEC will come to its senses sooner rather than later, and that they'll listen with an open mind. Until then, we'll stand up and fight for our industry. Onwards 🌊⛵️

If you are a serious crypto user, you should be fully onchain and only using CEXs for on/off-ramps.

Update - One of the two phished signatures is actually just a pre-validated signature indicating that the `msg.sender` authorizes the tx. This account is the co-signer from Liminal Custody, which should check and only then execute the tx but apparently some checks failed.