Best Twitter threads of the day – August 30th

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  TL;DR Breakdown Apple has unveiled its Vision Pro headset, marking its entry into the metaverse and the augmented/virtual reality (AR/VR) sectors. The Vision Pro uses a new spatial computing platform, visionOS, to create interactive digital spaces. While the tech industry welcomes Apple’s entry, concerns about the company’s restrictive ecosystem and the headset’s high price persist. With a history of creating paradigm shifts in technology, Apple seems to be yet again at the forefront of a potentially game-changing move. This time, it’s not a smartphone or a watch, but the newly unveiled Vision Pro headset, a mixed reality device that could redefine how we interact with digital spaces. In essence, the metaverse may have just welcomed a new heavyweight contender. Apple’s Vision Pro – An industry game-changer While the device launched at Apple’s annual WWDC event, the buzz around its implications for the burgeoning augmented and virtual reality sectors is palpable. Many industry leaders hail Apple’s entry as a critical milestone, a momentous occasion that will invigorate confidence in VR and AR markets. HTC’s CEO Cher Wang, whose company has a…

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• OpenAI devotes $1m to cybersecurity startups

  TL;DR Breakdown OpenAI has pledged $1 million to the Cybersecurity Grant Program, aiming to boost AI-powered cybersecurity capabilities. The initiative seeks to empower defenders with advanced AI tools, develop methods for quantifying the cybersecurity capabilities of AI models. OpenAI, the pioneering artificial intelligence research organization, has pledged $1 million in support of cybersecurity startups in a bid to reshape the power dynamics within the cybersecurity landscape. The initiative, titled the Cybersecurity Grant Program, aims to harness the potential of AI to transform defense mechanisms in the digital world, while also providing a platform for informed and strategic discourse on the convergence of AI and cybersecurity. OpenAI bridging AI and cybersecurity OpenAI’s mission with this program transcends just the financial backing. The organization seeks to foster a global collaborative network to ensure that cutting-edge AI capabilities are first and foremost available to defenders. This not only fortifies existing cybersecurity protocols but also ensures a proactive stance towards potential threats. Moreover, OpenAI is looking to streamline the quantification of cybersecurity capabilities of AI models. This would help stakeholders understand and improve their…

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• UK dismisses lawmaker’s description of crypto as gambling

  TL;DR Breakdown CryptoUK and Kraken have expressed strong opposition to a UK parliamentary report that suggested regulating cryptocurrencies similarly to gambling due to significant consumer risks. The House of Commons Treasury Committee’s recommendations stem from concerns around price volatility and the perceived lack of intrinsic value in cryptocurrencies. CryptoUK argued that such an approach fails to consider the unique nature of the crypto sector and its potential for economic growth in the UK, possibly creating a hostile environment for crypto businesses. In a rebuttal to a recent British parliamentary report equating cryptocurrency to gambling, both CryptoUK, a self-regulatory organization, and crypto exchange platform Kraken have issued strong responses. The crypto industry stakeholders argue against the lawmakers’ recommendation, marking a fascinating chapter in the ongoing crypto debate in the United Kingdom. UK lawmakers’ concerns and recommendations A House of Commons Treasury Committee report, dated May 17, suggested treating unbacked cryptocurrencies akin to gambling, due to significant consumer risks tied to such assets. The lawmakers’ concerns stemmed from factors like price volatility and a perceived lack of intrinsic value in cryptocurrencies. The…

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• Lido DAO (LDO) token contract flaw puts millions at risk—crypto security firm issues critical alert

  TL;DR Breakdown Cryptocurrency security firm SlowMist identified a critical security flaw in the LDO token contract, which has been exploited for “fake deposit” attacks on exchanges. The contract deviates from the ERC20 standard, allowing for transfers that exceed the user’s actual holdings. SlowMist recommends several precautionary measures for exchanges, including additional verification of return values from token contracts, comprehensive analysis of token contract codes, and regular code audits and security checks. Description Cryptocurrency security firm SlowMist recently issued an alert about a security flaw in the LDO token contract, which hackers have exploited to conduct fraudulent deposit attacks on exchanges. The flaw lies in the contract’s non-compliance with the ERC20 standard, which typically mandates that a transfer transaction must be reversed if the sender lacks sufficient funds. … Read more Cryptocurrency security firm SlowMist recently issued an alert about a security flaw in the LDO token contract, which hackers have exploited to conduct fraudulent deposit attacks on exchanges. The flaw lies in the contract’s non-compliance with the ERC20 standard, which typically mandates that a transfer transaction must be reversed if…

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• CZ, Binance asks court to ignore SEC’s silly lawsuit

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