Day: May 18, 2023

I run a Ledger competitor — but I support them in blow-up over keys

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It’s counterintuitive for a CEO to defend a competitor, particularly when that competitor is rolling out a feature similar to one we pioneered years ago. But given the debacle around Ledger’s new “Ledger Recover” feature, it’s time to provide a balanced perspective. The company is under fire for releasing an update to its wallet firmware that allows it to send a version of the wallet seed phrase to third parties. But the outrage feels out of proportion. The perception that Ledger is carelessly “sending seed phrases to a server” is fundamentally…

IMF sees room for eNaira improvement in first year assessment

Nigeria’s eNaira central bank digital currency (CBDC) is over a year old, and the International Monetary Fund (IMF) has a late birthday present for it, in the form of a working paper assessing its first year of performance. “Laudable,” said IMF researchers, but there were a few suggestions too. The eNaira was the world’s second CBDC, premiering in October 2021, after the Bahamian Sand Dollar. The paper found its retail side were intermediated, but had no problems with latency, as it has yet to make its breakthrough beyond the initial adopters.…

Bitcoin defense lawyer says Craig Wright lawsuit could harm open source software

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Jessica Jonas, chief legal officer of the nonprofit Bitcoin Legal Defense Fund, discussed the potential legal ramifications of a high profile lawsuit against Bitcoin core developers during the Bitcoin 2023 event in Miami on May 18. The case in question is a UK legal action filed by Craig Wright, the owner/operator of Tulip Trading. Wright’s perhaps most well-known for his assertion that he is Bitcoin creator Satoshi Nakamoto — a claim driving another unrelated lawsuit. I would just want to say a quick reminder for BTC Core and Roger Inc.…

Ledger clarifies how its firmware works after deleted tweet controversy

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On May 18, crypto hardware wallet provider Ledger clarified how its firmware works after a controversial May 17 tweet was deleted by the company. The deleted tweet, which Ledger said was written by a customer support agent, had stated that it was “possible” for Ledger to write firmware that could extract users’ private keys. [1/3] You may have seen a tweet from our Ledger Support account being shared regarding Ledger firmware updates. Unfortunately, in our attempt to clarify how Ledger and all wallets work with the firmware, a customer support…

BitMEX collaborates with industry players to send physical bitcoin lunar

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied BitMEX has formed a partnership with Astrobotic Technology Inc. and Bitcoin Magazine to launch the first physical bitcoin to the moon. The launch is scheduled to take place at the Kennedy Space Center this summer.  Readying for a space flight The upcoming event will mark the first Western soft lunar landing since NASA’s Apollo 17 mission in 1972. With over two years of meticulous preparation, the physical bitcoin has been integrated into the Moon lander Peregrine-1,…

Singaporean family office to set up digital bank in Bahrain

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The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Board said on May 18. The Group expects to open the bank by the end of the year and is aiming for a global client base. The bank will offer digital asset trading, custody and management among digital banking services. According to Bloomberg, the Central Bank of Bahrain has granted the bank “in principle approval” pending fulfillment of all requirements. Whampoa Group is associated with two prominent Singaporean Lee families —…

Bitcoin (BTC) Mining Rig Maker MicroBT Unveils Most Powerful Machine Yet

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One of the new models, WhatsMiner M53S++, delivers 320 terahash per second (TH/s) of computing power with efficiency of 22 joules per terahash (J/T). It is more powerful than rival Bitmain’s equivalent, the Antminer S19 XP Hydro, which delivers up to 257 TH/s, but less efficient that the Bitmain model, which can run at 20.8 J/T, the company’s founder and CEO Zuoxing Yang said. Original

Crypto adoption is booming, but not in the US or Europe — Bitcoin Builders 2023

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Mass crypto adoption is already taking place around the world, but not in the United States or Europe, nor does it have Bitcoin as a flagship asset for mainstream acceptance. According to Daniel Fogg of smart contract platform Rootstock, the increase in adoption is instead ongoing in emerging markets, where cryptocurrencies are offering solutions to people’s everyday problems.  In an interview with Cointelegraph’s Joe Hall at the Bitcoin Builders Conference in Miami, Fogg spoke about Bitcoin pragmatism, adoption worldwide and how emerging economies are shaping the future of the crypto…