Cronos Labs launches the second cohort of its accelerator program

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• Tornado Cash attacker considers returning governance control

  TL;DR Breakdown Tornado Cash’s governance was hijacked by a malicious attacker. Community member Tornadosaurus-Hex tried to limit damage through a withdrawal proposal. The attacker unexpectedly proposed to return the governance control. Skepticism remains about the attacker’s intent, possibly to inflate TORN token prices. In an unexpected twist to an alarming situation, the individual who recently assumed control of Tornado Cash’s governance through a malicious cyber-attack has hinted at returning authority to its rightful place. Notwithstanding the controversial nature of the proposal, the Tornado Cash community finds itself with few alternatives, sparking concerns and debates amongst members. What happened to Tornado Cash? On May 21st, panic struck the Tornado Cash community as a malicious entity effectively took over governance. The hijacker had the power to inflict severe damage by withdrawing all locked votes, draining tokens from the governance contract, and compromising the router. This unanticipated situation caused widespread concern within the community, leaving many to question the security and stability of the Tornado Cash platform. During this critical period, community member Tornadosaurus-Hex, commonly referred to as Hex, stepped up to mitigate…

  Article 2023年5月23日

• Coinbase eyes overseas markets amid U.S. regulatory uncertainty

  TL;DR Breakdown Brian Armstrong, Coinbase CEO, discussed the company’s global expansion plans, highlighting 83% of G-20 nations. Armstrong remains optimistic about the U.S. regulatory landscape. On Bitcoin ETFs, Armstrong disclosed that Coinbase is listed as the custodian in several applications. Description Coinbase CEO Brian Armstrong recently joined CNBC’s Power Lunch to discuss the company’s global ambitions. Armstrong highlighted that 83% of G-20 nations adopt or craft cryptocurrency laws. He cited Coinbase’s recent forays into Canada and the launch of an international derivatives exchange as evidence of the company’s commitment to overseas markets. In the face of … Read more Coinbase CEO Brian Armstrong recently joined CNBC’s Power Lunch to discuss the company’s global ambitions. Armstrong highlighted that 83% of G-20 nations adopt or craft cryptocurrency laws. He cited Coinbase’s recent forays into Canada and the launch of an international derivatives exchange as evidence of the company’s commitment to overseas markets. In the face of regulatory hurdles in the U.S., Armstrong remains optimistic. “America is going to get this right,” he assured. He noted that Congress is actively reviewing major crypto…

  Article 2023年9月10日

• Just how important is Bitcoin’s global investment to TradFi?

  TL;DR Breakdown Investors have witnessed a rather lunatic craze around Bitcoin and the crypto industry that begs the question of how much global wealth is invested in BTC.  Bitcoin wealth sits at around 0.11% of the estimated total global wealth worth. September has witnessed historic lows as market sell-off intensifies. Description In the rapidly evolving landscape of financial markets, one term has become increasingly prevalent—Bitcoin. Once dismissed as a speculative bubble or a tool for illicit activity, Bitcoin has matured into a complex, multi-faceted asset that holds transformative potential for traditional financial systems, often referred to as “TradFi” or Traditional Finance.  On September 11, 2023, one … Read more In the rapidly evolving landscape of financial markets, one term has become increasingly prevalent—Bitcoin. Once dismissed as a speculative bubble or a tool for illicit activity, Bitcoin has matured into a complex, multi-faceted asset that holds transformative potential for traditional financial systems, often referred to as “TradFi” or Traditional Finance.  On September 11, 2023, one bitcoin was worth approximately $25,867 per coin. There were over 19,48 million bitcoins in circulation, valuing…

  Article 2023年9月12日

• Twitter hacker and crypto scammer receives 5-year prison sentence

  TL;DR Breakdown The hacker used a SIM swap attack on an executive to steal crypto worth $794,000 on Twitter. He did not hide his trails properly. In July 2021, Spain arrested O’Connor, who was extradited to the U.S. on April 26, 2023. He pleaded guilty in May to conspiracy to commit computer breaches, wire fraud, and money laundering, among other offenses. Blockchain sleuth ZachXBT earlier this month discovered a group of scammers who SIM-swapped at least eight accounts belonging to well-known figures in the crypto industry, including DJ and NFT collector Steve Aoki, Puddy Penguins creator Cole Willeman, and Bitcoin Magazine editor Pete Rizzo.   Description On Friday, Joseph James O’Conner was given a five-year prison term for his role in the 2020 Twitter hack by a federal court. The 24-year-old man, who goes by the online moniker “PlugwalkJoe,” pleaded guilty last month to a number of cybercrimes, including a SIM-swapping attack against a TikTok account with millions of followers.  In … Read more On Friday, Joseph James O’Conner was given a five-year prison term for his role in the…

  Article 2023年6月27日

• American central bank’s secret $103B bailout exposed

  TL;DR Breakdown Data from the Federal Reserve Bank of St. Louis reveals that the Bank Term Funding Program (BTFP), an emergency lending program initiated by the American central bank has reached a record high of $103.08 billion. This milestone indicates that the Federal Reserve is still intervening to bail out banks, despite its efforts to assure investors that the banking crisis is under control. U.S. banking regulators have been urging lenders to collaborate with credit-worthy borrowers who are facing financial stress. Description The Bank Term Funding Program (BTFP), an emergency lending program initiated by the American central bank, has experienced its highest level of distressed asset redemptions since its establishment three months ago. Launched in response to the United States banking crisis and the collapse of Silicon Valley Bank, among others, the BTFP aims to provide support … Read more The Bank Term Funding Program (BTFP), an emergency lending program initiated by the American central bank, has experienced its highest level of distressed asset redemptions since its establishment three months ago. Launched in response to the United States banking crisis…

  Article 2023年7月2日