Best crypto memes of the day – August 31st

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• Vitalik Buterin sends warning over Ethereum consensus

  TL;DR Breakdown Vitalik Buterin warns against misusing Ethereum’s social consensus, emphasizing the systemic risks involved. He discourages high-risk practices such as offloading disputes onto Ethereum and expanding validator duties. Buterin suggests tailor-made solutions for each challenge, while warning of geopolitical implications and legal risks. Ethereum‘s co-founder, Vitalik Buterin, has issued a warning to the Ethereum community regarding potential threats to the network’s consensus. Ethereum’s crypto-economic consensus is robustly fortified, with a staggering $34 billion worth of ETH actively validating blocks every 6.4 minutes. Buterin cautions, however, against the misuse of the consensus system, especially in scenarios where its stability could be jeopardized. Vitalik Buterin on misusing the Ethereum consensus system Proposals have been advanced over time suggesting alternative uses for Ethereum’s validator set and social consensus. Some of these concepts include ‘ultimate oracle’, a voting system based on ETH where the majority gets rewarded with the minority’s share; and ‘re-staking’, a system allowing Ethereum stakers to use their stake as a deposit in another protocol. Buterin, however, cautions against certain techniques he sees as potentially hazardous to Ethereum’s ecosystem. The…

  Article 2023年5月23日

• Custodia CEO questions the controversy surrounding FedNow launch

  TL;DR Breakdown Custodia Bank CEO calls out controversial inclusion in the early adopter’s list. Regulatory transparency and the challenges surrounding FinTechs. Description On the same day the Federal Reserve announced the launch of its FedNow instant payment service, an intriguing revelation caught the attention of Caitlin Long, CEO of Custodia Bank. FedNow allows real-time, always-on money transfers within its interbank system, but Long noticed an unusual aspect among the list of early adopters. Adyen, an Amsterdam-based company, … Read more On the same day the Federal Reserve announced the launch of its FedNow instant payment service, an intriguing revelation caught the attention of Caitlin Long, CEO of Custodia Bank. FedNow allows real-time, always-on money transfers within its interbank system, but Long noticed an unusual aspect among the list of early adopters. Adyen, an Amsterdam-based company, was among the 35 banks and credit unions with access to the service, despite having reportedly received its federal master account in July 2020, a year before being approved to establish a U.S. branch. Custodia CEO questions the situation Long raised a crucial question on…

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• Curve Finance recovers all stolen funds from hacker

  TL;DR Breakdown Curve Finance recovered all $61 million stolen in a recent hack. Alchemix’s pool lost $13.6 million, JPEGd’s pool $11.4 million, and Metronome’s pool $1.6 million in the attack. The recovery followed a bold bug bounty offer: 10% reward for returning 90% of stolen funds. Within a day of the bounty, funds started returning, with full restitution by August 5. Description The dark clouds looming over the crypto landscape brightened a shade as Curve Finance, the well-known decentralized finance platform, has experienced a surprising twist. Only days after a crippling hack wiped out a staggering $61 million, every single digital coin was recovered. But before you pop the champagne, let’s delve into the sequence of events … Read more The dark clouds looming over the crypto landscape brightened a shade as Curve Finance, the well-known decentralized finance platform, has experienced a surprising twist. Only days after a crippling hack wiped out a staggering $61 million, every single digital coin was recovered. But before you pop the champagne, let’s delve into the sequence of events that led to this unexpected…

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• Thodex CEO sentenced to 7 months for failing to submit tax documents

  TL;DR Breakdown Thodex CEO has been sentenced to seven months and 15 days for not providing papers needed during the trial Özer held his innocence throughout the trial, saying that he was framed He still awaits a hearing on the purported claims of defrauding Thodex investors Description Faruk Fatih Özer, the founder and former CEO of now-defunct crypto firm Thodex, has been sentenced to seven months and 15 days for not providing papers needed during the trial. Özer held his innocence throughout the trial by claiming he was not a corporate official at the time of the alleged conduct and a trustee … Read more Faruk Fatih Özer, the founder and former CEO of now-defunct crypto firm Thodex, has been sentenced to seven months and 15 days for not providing papers needed during the trial. Özer held his innocence throughout the trial by claiming he was not a corporate official at the time of the alleged conduct and a trustee had been appointed to run the business during the time. Thodex CEO maintains his innocence amid allegation Before Thodex abruptly…

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• Top crypto tweets of the day – June 2nd

  Contents hide 1 120,000 ETH block calls were traded in a single day 2 Bitcoin re-org 3 Tether USD₮ Reaches All-Time High 4 Singapore’s MAS issues a new notice requiring crypto firms to conduct stricter customer due diligence 5 Circle plans to start issuing native USDC on Arbitrum 6 Marathon mined a record 1,245 bitcoins in May 7 Video recording an immersion-cooled bitcoin mining facility in Norcross 8 Bitcoin on the rise 9 Coinbase Derivatives Exchange to launch BTC and ETH futures contracts for institutions 10 OKX Wallet released the BRC-30 proposal, an enhanced version of the BRC-20 protocol 11 Binance has completed the integration of Tether (USDT) on the Arbitrum One and Optimism networks 120,000 ETH block calls were traded in a single day A whopping 120,000 ETH block calls were traded today, accounting for 53% of total volume and a notional value of $220 million. Giant whales by way of calendar spreads 1) shorting the price 2) shorting the volatility. If ETH fails to break above $2300 at the end of this year… — Wu Blockchain (@WuBlockchain) June…

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