Top crypto tweets of the day – August 9th

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• Hong Kong launches task force to pave Web3 future

  TL;DR Breakdown The Hong Kong Government has formed a Task Force to promote Web3 development, marking a strategic move towards becoming a global hub for the decentralized internet. Financial Secretary, Mr. Paul Chan, highlights blockchain technology’s potential to address various challenges, thus viewing Web3 as a “golden opportunity.”​ Despite close ties with China, Hong Kong charts its own course, as shown by the recent release of guidelines for Web3 companies and the formation of the new Task Force. Description In a strategic push to accelerate its digital transformation, Hong Kong’s government announced the establishment of a dedicated Task Force to promote Web3 development on Friday. However, The task force, led by the Financial Secretary, Mr. Paul Chan, includes 15 non-official members from relevant market sectors and is mandated to provide recommendations on the sustainable … Read more In a strategic push to accelerate its digital transformation, Hong Kong’s government announced the establishment of a dedicated Task Force to promote Web3 development on Friday. However, The task force, led by the Financial Secretary, Mr. Paul Chan, includes 15 non-official members from…

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• Brian Armstrong calls on U.S. lawmakers to sign on crypto bills

  TL;DR Breakdown Brian Armstrong urges U.S. citizens to support the Financial Innovation and Technology for the 21 Century Act (FIT21), aiming to provide regulatory clarity for crypto. Armstrong believes FIT21 could protect American digital assets, stimulate innovation, create jobs, and fortify national security. Description In a drive to press forward the growth of the cryptocurrency industry, Brian Armstrong, the CEO of Coinbase, is turning the heat up on U.S. lawmakers. He’s called for action, using his influential position to push for the approval of two crucial cryptocurrency bills. This urging is not without substance or reason but stems from … Read more In a drive to press forward the growth of the cryptocurrency industry, Brian Armstrong, the CEO of Coinbase, is turning the heat up on U.S. lawmakers. He’s called for action, using his influential position to push for the approval of two crucial cryptocurrency bills. This urging is not without substance or reason but stems from Armstrong’s vision to provide the crypto space with the much-needed regulatory clarity it sorely needs. Armstrong’s battle for crypto’s regulatory clarity The bills,…

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• SBF shocking bail request: will he get special treatment for ‘close friends?’

  TL;DR Breakdown SBF wants his “close friends” to be able to visit him at his parents’ home without having to go through the court-ordered security measures currently in place. The security measures outlined in Bankman-Fried’s bail conditions require a security guard to be present at the house to screen visitors for electronic devices, as well as having visitors sign an electronic visitor log.  As part of his current bail conditions set by Judge Kaplan, Bankman-Fried is allowed limited use of a laptop that can only access court-approved sites, including selected news sites and YouTube.  Description Sam Bankman-Fried, the former CEO of FTX, has recently requested a modification to his bail conditions in a letter to New York District Court Judge Lewis Kaplan. The letter states that SBF wants his “close friends” to be able to visit him at his parents’ home without having to go through the court-ordered security measures … Read more Sam Bankman-Fried, the former CEO of FTX, has recently requested a modification to his bail conditions in a letter to New York District Court Judge Lewis Kaplan….

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• MetisDAO reveals post-exploit purchases invalidated after Poly Network breach

  TL;DR Breakdown MetisDAO identifies vulnerabilities in Poly Network and prioritizes transparency. The validity of METIS tokens is limited to pre-attack purchases from BNBChain addresses. Users are advised to exercise caution and protect assets amid security breaches. Description Metis, a renowned blockchain project, has recently made a shocking revelation about discovering and disclosing vulnerabilities in the Poly Network. Taking to Twitter, Metis informed its community that only METIS tokens purchased from BNBChain addresses before the attack and the initial sale of exploited METIS would retain their validity. To ensure accuracy, the Metis team … Read more Metis, a renowned blockchain project, has recently made a shocking revelation about discovering and disclosing vulnerabilities in the Poly Network. Taking to Twitter, Metis informed its community that only METIS tokens purchased from BNBChain addresses before the attack and the initial sale of exploited METIS would retain their validity. To ensure accuracy, the Metis team promptly took a snapshot of all BNBChain addresses holding METIS tokens following the security breach and the first token sale by the perpetrator. This decisive action exemplifies Metis’s unwavering commitment…

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• France and Germany’s expansion strategy for the EU

  TL;DR Breakdown France and Germany have presented a proposal to reshape the EU, especially regarding its expansion. The strategy emphasizes majority voting for state decisions, stricter rules on democracy and the rule of law, and an expanded EU budget. These proposals will be the core of discussions at an upcoming EU leadership summit in Granada, Spain. Description As the tides of change sweep over Europe, with its geopolitical complexities and challenges, France and Germany have risen to take the lead. They’re at the forefront, presenting transformative strategies to reshape the EU, particularly in light of its anticipated expansion. And while their intentions might seem grand, it’s imperative we dig beneath the surface … Read more As the tides of change sweep over Europe, with its geopolitical complexities and challenges, France and Germany have risen to take the lead. They’re at the forefront, presenting transformative strategies to reshape the EU, particularly in light of its anticipated expansion. And while their intentions might seem grand, it’s imperative we dig beneath the surface to fully grasp the magnitude and implications of their proposals….

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