According to @KookCapitalLLC, the latest Coinbase advertisement has drawn criticism from the crypto trading community, with concerns that the centralized exchange could assist government authorities in accessing users' Bitcoin holdings (source: Twitter, June 7, 2025). This reaction is driving increased trader interest in decentralized platforms such as Hyperliquid, which emphasize user-controlled custody and privacy. The shift underscores a growing trend where traders are actively seeking non-custodial, decentralized alternatives to mitigate regulatory risks and maintain asset sovereignty, a move that could impact Bitcoin trading volumes on centralized exchanges.

According to Crypto Rover, SEC Commissioner Mark Uyeda stated that state-chartered trusts should be authorized to custody Bitcoin and other cryptocurrencies. This regulatory endorsement could provide greater institutional legitimacy and operational clarity for crypto custodians, potentially increasing institutional trading volumes and market participation. Uyeda's comments highlight the evolving regulatory landscape and may signal forthcoming changes in how major trading firms and institutional investors approach crypto asset security and compliance. Source: Crypto Rover on Twitter, April 26, 2025.