Month: July 2023

Arkham on-chain ‘Intel Exchange’ labeled ‘snitch-to-earn’ by Crypto Twitter

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Arkham, a “blockchain intelligence company,” announced what it’s calling the “world’s first on-chain intelligence exchange” on July 10 alongside the launch of a new coin, ARKM, through Binance’s Launchpad service. Crypto Twitter has had a predictably split response to the announcement, with negative sentiment surrounding Arkham’s purported mission to “deanonymize the blockchain” causing some ire. Chief among the complaints, many of which describe the company’s Intel Exchange as a “snitch-to-earn” or “snitching-as-a-service” program, involves Arkham’s perceived role as a centralized intelligence agency. Fuck this. It’s not even the snitch-to-earn component…

BOE governor trashes crypto, stablecoins in favor of ‘enhanced digital money’

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Andrew Bailey, a Bank of England (BOE) governor, delivered a speech July 10 in which he moved smoothly from the central bank’s efforts to control inflation and maintain public trust in financial institutions to why cryptocurrencies are not money. Instead of cryptocurrencies and stablecoins, he would prefer “enhanced digital money.” The spate of bank failures in the United States and Switzerland earlier this year revealed issues of the singleness of money and settlement finality, Bailey said. Both cryptocurrencies and stablecoins fail basic tests of singleness and settlement finality, he said, without elaborating.…

Grayscale Writes To US Court Over SEC’s Unequal Treatment Of Bitcoin ETFs

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Grayscale Investments has called out the SEC for approving Bitcoin futures ETFs over spot Bitcoin ETFs The DCG subsidiary recently penned a letter to a Columbia court to highlight the SEC’s unequal treatment of BTC-based ETFs.  Grayscale’s letter came more than a year after it sued the SEC for denying its spot BTC ETF application.  The SEC has since rejected several other spot Bitcoin ETF applications filed by BlackRock, Fidelity, etc.  Grayscale Investments, the asset management giant behind the world’s largest Bitcoin, has called out the U.S. Securities and Exchange…

Crypto Data Service Arkham Intelligence Has Apparently Been Doxxing Users for Months

Regarding the separate issue with referrals, anyone who shared their Arkham link may have inadvertently put their anonymity (or at least their email address) at risk. The pseudonymous m4gicpotato, a contributor to the privacy blockchain Beam, posted about the issue on Twitter on Monday, where it quickly went viral. M4gicpotato described themselves as a privacy advocate who has worked in crypto under various names since 2017. Source

Arcadia Finance hacker used reentrancy exploit, team demands return of funds

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The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “reenter” a contract or interrupt it during a multi-step process, preventing the process from being completed correctly. The team has sent a message to the attacker demanding the return of funds within 24 hours and threatening police action if the hacker fails to comply. Post Mortem of ongoing situation,…

US lawmakers allege CCP connection in calling for SEC, DoJ investigation of Prometheum

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Six members of the United States congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to the Chinese Communist Party.  In a July 10 letter, Alabama Senator Thomas Tuberville and five members of the House of Representatives alleged Prometheum co-CEO Aaron Kaplan may have provided false testimony at a June 13 hearing on regulatory clarity in the crypto space. The U.S. lawmakers claimed Prometheum was connected to investors with “ties to the Chinese Community Party”: Shanghai…

From Thailand to South Africa, regulators tighten their grip on crypto: Law Decoded, July 3–10

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Last week saw more rules and regulations emerge regarding digital assets. Thailand’s Securities and Exchange Commission issued new rules requiring digital asset service providers to warn customers of risks associated with cryptocurrency trading. The warning message must be clearly visible, and before customers can use the service, the business operator must arrange for the users to give consent and acknowledge the risks. Apart from a trading risks disclaimer, the new guidelines prohibit service providers from using customers’ funds for lending or investment. The Monetary Authority of Singapore announced new requirements…

bitdao and huobi token remain bearish

The crypto world is constantly changing, with prices and trends shifting quickly. This article delves into the recent performance of bitdao (BIT), huobi token (HT) facing bears, and provides predictions for the price of tradecurve in July. It also covers the latest updates on these digital assets and offers a glimpse into what the future may hold. BitDAO under pressure BitDAO, a decentralized autonomous organization (DAO) focused on driving the growth of the decentralized finance (DeFi) ecosystem, has been having a rough time, and its token is selling off. Following last week’s…

Connext founder proposes ‘Sovereign Bridged Token’ standard after Multichain incident

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An Ethereum Improvement Proposal (EIP) made on July 7 seeks to standardize how tokens are bridged between networks. The “Sovereign Bridged Token” standard, or EIP-7281, allows token issuers to create canonical bridges across multiple networks. The proposal was co-authored by Arjun Bhuptani, founder of the Connext bridging protocol. In a July 7 social media post, Bhuptani claimed the protocol would help prevent issues like the July 6 Multichain incident, which some experts have described as a hack. Today’s @MultichainOrg hack is a sad reminder of the systemic risks tokens face from…