TL;DR Breakdown Top U.S. banks passed the Federal Reserve’s annual stress test, demonstrating their resilience and sound financial health. Banks like JPMorgan Chase, Wells Fargo, Goldman Sachs, and Morgan Stanley announced third-quarter dividend hikes. Despite a potential economic downturn scenario, these banks hold more than double the required capital. Description In an impressive testament to their resilience and soundness, leading U.S. banks have celebrated the successful completion of the Federal Reserve’s annual stress test. The crowning moment for these financial institutions was the announcement of the planned increase in third-quarter dividends, proving their mettle in the face of adversity and demonstrating they have the capital … Read more In an impressive testament to their resilience and soundness, leading U.S. banks have celebrated the successful completion of the Federal Reserve’s annual stress test. The crowning moment for these financial institutions was the announcement of the planned increase in third-quarter dividends, proving their mettle in the face of adversity and demonstrating they have the capital reserves to withstand a significant economic downturn. Rising dividends signal robust health The victors of the stress…

TL;DR Breakdown A Chinese spy balloon flew over the U.S. but was shot down without collecting significant information. This event adds to the existing high-tech rivalry between the U.S. and China, with a primary focus on semiconductors. Both Trump and Biden administrations have implemented measures to prevent China from accessing advanced chip technology. Description The recent failure of a Chinese spy balloon’s mission to infiltrate the United States‘ air space marked a decisive win for the United States. The balloon, deployed by China, hovered across the United States for a week before being shot down. According to Pentagon spokesman Brigadier General Pat Ryder, the balloon was unsuccessful in gathering … Read more The recent failure of a Chinese spy balloon’s mission to infiltrate the United States‘ air space marked a decisive win for the United States. The balloon, deployed by China, hovered across the United States for a week before being shot down. According to Pentagon spokesman Brigadier General Pat Ryder, the balloon was unsuccessful in gathering any significant data during its unauthorized flight. Countering China’s technological ambitions This incident…

TL;DR Breakdown Adam Cochran’s investigation revealed the complex network linking TUSD to Justin Sun, prompted by TUSD’s legal threat. Mysterious entity Techteryx, related to TUSD, and its supposed executives, Jennifer “Yiying”/”Yiyang” Jiang and Steve Liu, do not appear in Singapore’s corporate databases. Both Jiang and Sun have citizenship in St. Kitts and Nevis, a haven for corporate secrecy. Description Digital currency has long promised a realm of transparency and accountability, but as Professor and IT executive Adam Cochran delved into the intricate web of connections linking the digital asset TUSD to Justin Sun, it became clear that the picture was far from black and white. The intricate web of ownership Cochran’s investigation, triggered by … Read more Digital currency has long promised a realm of transparency and accountability, but as Professor and IT executive Adam Cochran delved into the intricate web of connections linking the digital asset TUSD to Justin Sun, it became clear that the picture was far from black and white. The intricate web of ownership Cochran’s investigation, triggered by a legal threat from TUSD for associating them…

TL;DR Breakdown Researchers demonstrated a vulnerability in Ethereum’s censorship resistance by temporarily delaying transactions through the proposer-builder separation mechanism. The proof of concept highlighted issues with fee calculations and raised concerns about Ethereum’s goal of being a neutral platform. Description In a proof of concept that has raised concerns about the censorship resistance of Ethereum, a team of researchers known as the Special Mechanisms Group (SMG) has revealed a method to exploit the proposer-builder separation feature of the blockchain. By leveraging this feature, the team successfully forced an Ethereum block to contain only their transaction.  … Read more In a proof of concept that has raised concerns about the censorship resistance of Ethereum, a team of researchers known as the Special Mechanisms Group (SMG) has revealed a method to exploit the proposer-builder separation feature of the blockchain. By leveraging this feature, the team successfully forced an Ethereum block to contain only their transaction.  This demonstration has ignited discussions about the core principles of Ethereum and the need for improved censorship resistance. While some argue that the current gas fee market…

TL;DR Breakdown Cardano’s Hydra Head scaling solution has been upgraded to version 0.11.0, becoming fully isomorphic to Layer-1 (L1) with the addition of timed transaction support. The upgrade improves the protocol’s functionalities, including external wallet commits, and demonstrates Cardano’s commitment to achieving its scaling goals. Description Cardano‘s groundbreaking scaling solution, Hydra Head, has recently undergone a significant upgrade, solidifying its position as a cutting-edge Layer-2 (L2) protocol. With the introduction of timed transaction support and other notable enhancements, the latest version, 0.11.0, promises to push the protocol closer to its performance expectations. This upgrade marks an important milestone for Cardano and … Read more Cardano‘s groundbreaking scaling solution, Hydra Head, has recently undergone a significant upgrade, solidifying its position as a cutting-edge Layer-2 (L2) protocol. With the introduction of timed transaction support and other notable enhancements, the latest version, 0.11.0, promises to push the protocol closer to its performance expectations. This upgrade marks an important milestone for Cardano and sets the stage for further advancements in the platform’s scaling capabilities. Contents hide 1 The Evolution of Hydra Head: Version 0.11.0…

TL;DR Breakdown Celsius Network, a bankrupt crypto lender, has been granted permission to liquidate altcoins and convert them into Bitcoin and Ethereum. The approval aligns with regulatory compliance requirements and highlights the evolving nature of the crypto industry. Description In a significant development for the crypto industry, Celsius Network, the bankrupt crypto lender, has been granted permission by US Bankruptcy Judge Martin Glenn to liquidate its altcoins and convert them into Bitcoin (BTC) and Ethereum (ETH). This decision comes as the platform seeks to expedite the distribution of funds to its creditors. Following discussions … Read more In a significant development for the crypto industry, Celsius Network, the bankrupt crypto lender, has been granted permission by US Bankruptcy Judge Martin Glenn to liquidate its altcoins and convert them into Bitcoin (BTC) and Ethereum (ETH). This decision comes as the platform seeks to expedite the distribution of funds to its creditors. Following discussions between Celsius Network handlers and the United States Securities and Exchange Commission (SEC), the proposal was ratified, allowing the embattled lender to “sell or convert any non-BTC and…

TL;DR Breakdown Apple becomes the first publicly traded company to reach a $3 trillion market value, with its shares climbing to a new high. The company’s stock has surged by nearly 46% this year, signaling a strong recovery from a challenging 2022. While competitors embrace AI, Apple focuses on its own strategy, posting stronger-than-expected quarterly earnings and preparing for a massive growth phase with upcoming product releases. Description In a historic milestone, Apple Inc. has become the first publicly traded company to achieve a market value of $3 trillion. The company’s shares surged by approximately 2.31% on Friday, reaching a new all-time high and solidifying its position as a global industry leader. This achievement comes after Apple initially touched the $3 trillion mark … Read more In a historic milestone, Apple Inc. has become the first publicly traded company to achieve a market value of $3 trillion. The company’s shares surged by approximately 2.31% on Friday, reaching a new all-time high and solidifying its position as a global industry leader. This achievement comes after Apple initially touched the $3 trillion…

TL;DR Breakdown Crypto ATM firm Bitcoin Depot will go public on Nasdaq starting July 3. Brandon Mintz, the founder, and CEO of Bitcoin Depot, stated that the merger was primarily aimed at supporting various growth opportunities and advancing the adoption of Bitcoin throughout North America.  The announcement arrives at a time when regulatory scrutiny of companies offering cryptocurrency products or services in the United States is increasing. Description Bitcoin Depot, a leading cryptocurrency ATM company in the United States, has recently announced the completion of a merger deal that will enable the company to go public. The fintech firm GSR II Meteora Acquisition Corporation disclosed on June 30 that its stockholders had given their approval for the merger, establishing the company as a … Read more Bitcoin Depot, a leading cryptocurrency ATM company in the United States, has recently announced the completion of a merger deal that will enable the company to go public. The fintech firm GSR II Meteora Acquisition Corporation disclosed on June 30 that its stockholders had given their approval for the merger, establishing the company as…

TL;DR Breakdown According to a recent report by Beosin, a Web3 security firm, the total value of cryptocurrencies lost in scams, hacks, and rug pulls during the first half of 2023 amounted to $656 million.  The report highlights that approximately $215 million of stolen assets were actually recovered, which accounts for 45.5% of all the stolen assets. The report indicates that the majority of crypto lost in the first half of 2023 were coins and tokens minted on the Ethereum blockchain, accounting for 75.6% of the total losses. Description According to a recent report by Beosin, a Web3 security firm, the total value of cryptocurrencies lost in scams, hacks, and rug pulls during the first half of 2023 amounted to $656 million. This figure includes $471.43 million lost in 108 protocol attacks, $108 million in various phishing scams, and $75.87 million from 110 rug … Read more According to a recent report by Beosin, a Web3 security firm, the total value of cryptocurrencies lost in scams, hacks, and rug pulls during the first half of 2023 amounted to $656 million….

TL;DR Breakdown The Internal Revenue Service (IRS) has obtained a federal court order requiring cryptocurrency exchange Kraken to provide account and transaction information. The purpose of the investigation is to identify any tax liabilities among users who conducted cryptocurrency transactions on the platform between 2016 and 2020.  The judge denied the IRS’s attempt to obtain employment information and source of wealth details from Kraken.  Description The Internal Revenue Service (IRS) has obtained a federal court order requiring cryptocurrency exchange Kraken to provide account and transaction information. The IRS stated that it needed this information to investigate potential tax underreporting by Kraken’s users. The court petition was filed in the Northern District of California in February, shortly after Kraken settled charges … Read more The Internal Revenue Service (IRS) has obtained a federal court order requiring cryptocurrency exchange Kraken to provide account and transaction information. The IRS stated that it needed this information to investigate potential tax underreporting by Kraken’s users. The court petition was filed in the Northern District of California in February, shortly after Kraken settled charges with the…