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A crypto exchange based in Hong Kong, CoinEx, is dealing with a security breach. They've lost a significant amount of ETH and TRON from their hot wallets (4,946 ETH and 354,762 TRX so far). The company is looking into it and has promised to reimburse affected users. Source: https://thedefiant.io/coinex-exchange-hacked-for-usd28mCyvers Alerts, a crypto alert platform, reported that one address received over $5 million in various assets from CoinEx - https://etherscan.io/address/0xcc1ae485b617c59a7c577c02cd07078a2bcce454Well-known X/Twitter crypto investigator, ZachXBT, shared more addresses related to the breach in his Telegram. The story is still developing. Anyone affected? Please share your story. |
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FTX wants permission to sell $3.4 billion in crypto assets, including a big chunk of Solana (SOL) tokens. They're also tangled in a lawsuit with LayerZero over $21 million in lost assets. The Delaware Bankruptcy Court will decide today, September 13, 2023. FTX plans to sell tokens, starting with $100 million a week, possibly going up to $200 million for each type. FTX owns $1.16 billion in SOL tokens, a big part of their $3.4 billion crypto stash. Source: https://decrypt.co/155844/ftx-looks-to-offload-billions-in-crypto-heres-what-it-meansCould this possibly have a major impact on the crypto market? I personally don't think so because of the $100-$200M selling limit per week. Also, FTX's Solana exposure is vested, meaning they won't be able to access those tokens until 2028. But, as we all know, anything is possible in crypto! Let's see how the market reacts. |
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Apple's facing a rocky road in China as Beijing restricts iPhone use among government staff, causing Apple's stocks to drop. Source: https://www.reuters.com/technology/apple-tumbles-drags-wall-street-lower-fears-grow-over-china-iphone-curbs-2023-09-07/Not even strong ties with China can shield tech giants from growing tensions. The Huawei situation also adds to the complexity, with their new smartphone making progress despite U.S. sanctions. Apple's main chip supplier, Qualcomm, took a hit, and lawmakers from both parties express concerns about China's influence on national security. This situation could reshape the tech market in China and beyond, potentially impacting Apple's standing. Probably other tech companies with stakes in both countries too. Anyone buying this dip? |
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Scientists at the Weizmann Institute have made a major breakthrough, growing a model that mimics a 14-day-old human embryo using stem cells. This "embryo model" was created without using sperm, eggs, or a womb, and even produced pregnancy hormones during lab tests. The hope is that these models will offer an ethical way to study the earliest stages of human life, a period often fraught with complications. However, this development has sparked ethical questions about how such models should be regulated. Source: https://www.bbc.com/news/health-66715669This embryo model is a breakthrough, but the 99% failure rate raises questions about its reliability for studying infertility and miscarriages. Plus, as these models get closer to real embryos, ethics come into play. This is a conversation that will require input from scientists, ethicists, religious leaders, policymakers, and the broader public. Personally, I think there is something very wrong with this. |
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MetaMask just rolled out a cool feature: now you can smoothly turn your crypto into regular cash and send it straight to your bank. This is starting in the US, UK, and other parts of Europe, mainly focusing on ETH. Source: https://coinmarketcap.com/alexandria/article/metamask-adds-bank-and-paypal-feature-to-withdraw-to-fiatThey're even planning to extend it to other networks soon. Plus, you can now add your converted fiat to your PayPal too. A handy update for MetaMask's 30 million users. But at what cost? MetaMask conversion fees, and bank fees that would depend on your exact location. Security risks too. They require users to share their personal information and bank or PayPal details with Wyre, which may expose them to identity theft or fraud. And if you're not careful, you may also lose access to your funds should MetaMask or Wyre suffer a hack, a breach, or a shutdown. But, nevertheless, one step closer to crypto global adoption. |
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Visa is making big moves in the crypto world. They're teaming up with Solana to expand their stablecoin settlements. Basically, they're using USDC for transactions. This move helps Visa speed up global payments, and it's all part of their ongoing commitment to the evolving crypto scene. Visa's foray into stablecoin settlements on Solana signifies a major milestone in crypto adoption by traditional financial giants. I just hope that Solana can finally get a hold of their scalability and security issues! Source: https://coinmarketcap.com/alexandria/article/visa-expands-usdc-stablecoin-settlements-using-solana |
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Social media companies are stepping back from fighting political misinformation and conspiracy theories, which might affect the 2024 election. Why? Layoffs at companies like Meta, legal disputes over content rules, and Musk's moves to ease misinformation rules. Musk's sway led Meta to drop plans to ban political ads on Facebook. Despite investigations proving no 2020 election fraud, YouTube and Meta now let false Trump claims slide. Users can now opt out of fact-checking, letting false posts spread with warnings. Musk's changes at X influenced others in content moderation. This shift in moderation raises worries about false info and conspiracy theories ahead of the 2024 election. Source: https://www.washingtonpost.com/technology/2023/08/25/political-conspiracies-facebook-youtube-elon-musk/Big Tech is following Elon Musk’s lead on disinformation, but who is holding him accountable for his influence on democracy? |
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Cambridge University just gave us a big update on Bitcoin's energy usage, and it's good news. Turns out, previous estimates were way off the mark. In 2021, we thought Bitcoin consumed 104 terawatt-hours, but it's actually 89.0 TWh. And in 2022, it dropped from 105.3 TWh to 95.5 TWh, about the same as U.S. tumble dryers. The old method didn't consider the efficiency of mining hardware, but now we've got a more accurate picture. According to Cambridge, in 2023, it's around 70.4 TWh. So, Bitcoin's environmental impact isn't as bad as we thought! Source: https://coinmarketcap.com/alexandria/article/cambridge-universitys-updated-bitcoin-electricity-consumption-index-reveals-lower-energy-consumption |
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Vitalik Buterin has sold his remaining 500 MakerDAO tokens, earning approximately $578,000, while MakerDAO considers a move to Solana-based NewChain. This sale marks a 27% gain on the tokens he divested. He initially acquired 1,071 MKR tokens in April 2018 when their price was $905 each. Source: https://coinmarketcap.com/alexandria/article/vitalik-buterin-sells-remaining-makerdao-tokens-worth-dollar578k-as-project-considers-solana-based-newchainHow do you think the move to Solana-based NewChain will impact MakerDAO? Vitalik Buterin is a smart man, and Solana has had many, many tech issues. He knows that MakerDAO is doomed to fail on Solana-based NewChain. He sold his MKR tokens before they become worthless. Or maybe he's just bitter since MakerDAO left Ethereum for Solana. Bullish for Solana, if they can handle it. |
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A fast-food worker named Deyonte Jahtori Anthony tricked his online broker into giving him $200,000 in advance credit, which he then invested in stocks like Tesla, Nvidia, GameStop, and AMC Entertainment. He did this by falsely claiming he earned a higher income on his brokerage application. He linked his trading account to a nearly empty bank account but managed to initiate unfunded deposits totaling $1 million. This gave him access to the $200,000 credit, which he promptly used to buy stocks. His investments included $85,000 in Apple, $78,000 in GameStop, $22,000 in Nvidia, $13,000 in AMC Entertainment, and $700 in Tesla, among others. His broker uncovered the fraud the next day, froze his account, and sold all his holdings. Surprisingly, Anthony's brief investments were profitable, earning the broker about $7,000 in profit. Unfortunately for Anthony, he couldn't withdraw any money, and his deposits were reversed due to insufficient funds. He was fired from his job at Auntie Anne's and admitted to making the deposits and misleading his broker under oath during an investigation. He claimed it was a "joke" and didn't see it as fraud. The SEC labeled his actions as a "free-riding" scheme and is seeking to ban him from trading without sufficient funds and require him to disclose this incident if he opens another brokerage account in the future. Source: https://markets.businessinsider.com/news/stocks/tesla-nvidia-gamestop-amc-meme-stocks-sec-fraud-retail-trader-2023-8If you're gonna fake it, at least make sure you can cash out!  |
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Binance teamed up with authorities to help arrest key ISIS members in Tajikistan and Turkey, demonstrating their commitment to fighting organized crime involving cryptocurrencies. They played a significant role in capturing individuals connected to an ISIS affiliate by analyzing a Telegram channel and locating a crypto wallet used by a terrorist commander. This collaboration with Tajikistan's Financial Monitoring Department and TRM Labs underscores Binance's dedication to aiding law enforcement and using open-source intelligence to identify risks. While specific details are undisclosed, Binance's involvement has been praised for advancing counterterrorism efforts and combating crypto-related organized crime. Impressive work by Binance. This is a win for counterterrorism and a win for the crypto industry. But at what cost? Some people have raised concerns about the implications of Binance's cooperation with law enforcement. They argue that it could set a precedent for other crypto companies to be forced to share customer data with governments, which could erode privacy and security. Others worry that it could make it more difficult for legitimate users to use crypto, as they may be subject to greater scrutiny. Is it worth it to erode privacy and security in order to fight crime? Source: https://coinmarketcap.com/alexandria/article/binance-trm-labs-assists-in-arrest-of-key-isis-members-in-tajikistan-and-turkey |
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Three former members of the PEPE community are alleged to have stolen $16 million worth of PEPE tokens from the project's multisig wallet and transferred control to the only remaining member. The anonymous founding member clarified the situation, explaining that the ex-team members stole the funds and abandoned the project, leaving control in the hands of the remaining member. The stolen funds were sent to exchanges for selling, while the remaining member and the remaining 10 trillion PEPE tokens are secured. The remaining member is now focused on moving forward in the best interest of the PEPE community. This is what happens when you trust anonymous frogs with your money. Source: https://cointelegraph.com/news/rogue-pepecoin-team-members-blamed-for-pepe-multsig-withdrawal |
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The appointment of pro-crypto, real estate developer Srettha Thavisin as Thailand’s next Prime Minister means a 10,000 THB ($300 USD) airdrop is likely happening. The national airdrop would be provided to every Thai citizen aged 16 and above, with the condition that it can only be utilized within a four-kilometer radius of their residence. The airdrop will utilize a national token rather than an existing digital asset or cryptocurrency. Vendors will have the option to convert it into cash at specified banks. Thailand will now also offer a $1B tax break for firms issuing investment tokens... I'm telling you, the next best innovation in the blockchain space is coming out of Asia. https://www.coindesk.com/business/2023/08/23/thailands-new-pro-crypto-prime-minister-was-an-active-crypto-investor/ |
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So, I stumbled upon this CoinGecko article titled "Household Electricity Costs to Mine 1 Bitcoin at Home, Around the World" ( https://www.coingecko.com/research/publications/bitcoin-mining-cost), and honestly, I was pretty intrigued by it. They've got this report that lists which countries make mining 1 Bitcoin super profitable and which ones, well, not so much. Without further ado, the top 10 countries for profitable Bitcoin mining are: 1. Lebanon - $266.02 (electricity cost to mine 1 BTC in USD) 2. Iran - $532.04 3. Syria - $1,330.1 4. Ethiopia - $1,596.12 5. Sudan - $2,128.17 6. Libya - $2,660.21 7. Kyrgyzstan - $2,660.21 8. Angola - $3,724.29 9. Zimbabwe - $3,990.31 10. Bhutan - $4,256.33 And the most unprofitable countries to mine 1 BTC are: 1. Italy - $208,560.33 2. Austria - $184,352.44 3. Belgium - $172,381.50 4. Denmark - $166,795.06 5. Germany - $163,336.79 6. Ireland - $159,612.50 7. Lithuania - $152,163.92 8. Netherlands - $137,798.79 9. United Kingdom - $130,616.23 10. Cayman Islands - $128,222.04 Here's a nice graphic.  They did some pretty serious calculations to figure out how much electricity it takes to mine a single Bitcoin. They considered eight different ways people mine, each with its own hash rate, and then they looked at how long it usually takes to mine one Bitcoin using each method. They used a mining difficulty of 53,911,173,001,055.00 as a benchmark. By the way, this mining difficulty thing gets adjusted precisely every 2,016 blocks, and how often it changes depends on how many people are mining and how powerful their computers are. They used CoinWarz Bitcoin calculator to keep tabs on all that. Check out the article for more info. |
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Meta, the parent company of Facebook, is facing accusations of violating European data privacy regulations in Norway. Norway's data regulator, Datatilsynet, has taken legal action against Meta, claiming the company harvested user data without proper consent for targeted advertising. This incident could potentially impact data privacy rules across Europe. As of August 14, Meta has been fined one million crowns (around $790,920 USD) per day in relation to this matter. https://www.reuters.com/technology/facebook-owner-meta-breaks-privacy-rules-norway-regulator-tells-court-2023-08-23/If I had a dollar for every user's data Zuckerberg illegally collected, I'd have almost as much as he does! |
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The Pentagon is getting ready to shake up the military entrance exam by allowing calculators. This change to the Armed Services Vocational Aptitude Battery (ASVAB) test aims to address the shortage of military recruits. Some worry that this move might be seen as lowering standards. The U.S. military has been struggling with recruitment, with the Army missing its goal last year. This year, projections show potential recruit deficits in the Air Force and Air National Guard. https://americanmilitarynews.com/2023/08/pentagon-lowering-recruitment-standards-again-report/Recruits, get ready to solve for 'x' in 'extreme boot camp' equations! |
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Donald Trump Is a Crypto Whale! According to financial disclosure documents submitted to the Office of Government Ethics, he has over 2.8M USD in crypto within an Ethereum wallet. He also made $4.9M in licensing fees with his infamous NFTs.
Looks like Trump is making America great again, one ETH at a time. I wonder if he has any BTC.
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The ETF known as Jacobi FT Wilshere Bitcoin ETF, overseen by the Guernsey Financial Services Commission (GFSC), will be active with the trading symbol "BCOIN." Fidelity Digital Assets is responsible for safeguarding the fund's assets, and Jacobi has verified that Flow Traders, a trading company, will serve as the market maker.
LFG Europe. One small step for finance, one giant leap for mainstream adoption! Looking forward to the next and many crypto-related financial products to come.
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I was wondering if any has any direct experience with Proof of Useful Work (PoUW) and what challenges and limitations you have, if any.
I just got introduced to it, and it seems like a fascinating consensus protocol that allows its miners to do useful work that can solve real-world problems like data classification, protein folding, deepfake detection, etc.
And you can also mine coins like Flux, REM, and PAI Coin. Curious if anyone here has any experience in this. Thanks in advance!
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