Charles Schwab has officially rolled out its cryptocurrency trading platform, **Schwab Crypto**, to a select group of retail clients. The firm announced on X that eligible investors can now trade **Bitcoin (BTC)** and **Ethereum (ETH)** directly on the platform, alongside other crypto-related investment products.

This launch follows Schwab's announcement last month to introduce the crypto trading platform in phases. Previously, Schwab clients could only gain indirect exposure to crypto through ETFs and derivatives. Now, they can hold spot BTC and ETH directly.

Schwab Crypto charges a **75-basis-point fee per trade**. The service is available in all U.S. states except New York and Louisiana, and not all clients may qualify. Clients maintain a separate crypto account, with **Charles Schwab Premier Bank** as custodian and **Paxos** handling trade execution and sub-custody.

Charles Schwab reported $11.77 trillion in client assets and 39.1 million active brokerage accounts as of March 2026. In Q1 2026, the company posted adjusted net income of $2.6 billion, earnings per share of $1.43 (up 38% YoY), and revenue of $6.48 billion (up 16% YoY).

Charles Schwab said it has made 'Schwab Crypto' available to the first wave of eligible retail clients starting Tuesday.

Charles Schwab Launches Spot Bitcoin and Ethereum Trading for Select Retail Clients

A Bitcoin holder has gone viral after claiming he recovered approximately **$400,000 in BTC** from a wallet locked for over a decade, with help from Anthropic's AI chatbot **Claude**.

The user, known as **Cprkrn** on X, shared the wild crypto recovery story on May 13. He regained access to **5 Bitcoin** after years of failed attempts. At current prices, that's roughly $398,000.

## The Backstory

The wallet had been locked since the user's college days. He originally bought the crypto when it was worth around **$250 per coin**, then lost access after changing the wallet password while high. The password? **"lol420fuckthePOLICE!*:)"**

## How Claude Helped

After trying **trillions of password combinations** over the years, the breakthrough came when he uploaded files from his old college computer into Claude. Rather than guessing the password, Claude helped dig through old files and identify an **older wallet.dat file** that predated the password change. He also had an **old mnemonic phrase** that helped unlock the wallet once the correct file was found.

> "I tried like 7 trillion passwords lmfao. Found this old pneumonic a few weeks ago that ended up being the old password before I changed it. Thought I was screwed. Last ditch effort dumped my whole college computer into Claude. It found an OLD wallet file that the pneumonic..."

## Not a Security Breach

The story quickly spread across crypto and AI circles. Many pointed out that Claude did not "break" Bitcoin's security. Instead, it helped the user sort through old files, understand what went wrong, and recover access using valid wallet data.

## A Reminder

For anyone with old hard drives lying around, this is a brutal reminder: **your forgotten files could be worth more than you think**. Cprkrn even said he plans on naming his child after Anthropic CEO Dario Amodei—seems like a fair deal considering he's now $400,000 richer.

A Bitcoin holder has gone viral after claiming he recovered around $400,000 in BTC from a wallet that had been locked for more than a decade.

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