IBM Unveils New Cold Storage Technology for Enhanced Crypto Asset Security ⚠️
➡️ IBM has announced the release of the latest technology designed to enhance the security of cold storage for digital assets, aiming to revolutionize the way cryptos are managed and protected.
➡️ The IBM Hyper Protect Offline Signing Orchestrator (OSO) is specifically developed to overcome the challenges associated with traditional methods of cold storage for digital assets. By integrating advanced security features such as disconnected network operations, time-based security, and electronic approval by multiple stakeholders, OSO represents a significant leap in protecting high-value transactions.
📌 In the announcement blog, IBM wrote, “OSO is designed to address limitations of current cold storage offerings for digital assets, including the need for people to perform manual procedures for the execution of a cold storage transaction.”
⚡️ Further elaborating on the functionality, the blog explained, “Hyper Protect OSO provides a policy engine that brokers communication between two different applications that have been designed not to communicate directly with each other for security purposes.”
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🚀 The best AI L0/L1 gem for December: $DAG
$DAG Constellation Network should reach at least $0.64 in the next few weeks (the Feb 2023 high) – there are very few local resistances along the way.
💎 $DAG is only $130 million market cap now but could go to $10 billion in the AI bull market – 5 reasons why:
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$DAG Constellation Network should reach at least $0.64 in the next few weeks (the Feb 2023 high) – there are very few local resistances along the way.
💎 $DAG is only $130 million market cap now but could go to $10 billion in the AI bull market – 5 reasons why:
✅ Mainnet 2.0 is live
✅ Perfect for big AI models, IoT, federal agencies...
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✅ Uses the best tech stack by Cosmos, Polkadot & Cardano
$DAG on KuCoin
Official Constellation Network Telegram
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House Committee Unanimously Passes Pro-Blockchain Bill ⚠️
🟥 The House Committee on Energy has voted unanimously to approve a new piece of legislation entitled the “Deploying American Blockchains Act.”
📌 According to the brief, the bill would “direct the Secretary of Commerce to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, and for other purposes.”
👌 The brief notes that the Secretary of Commerce would “serve as the principal advisor to the President” regarding policy issues related to blockchain technology.
⚠️ Moreover, the bill would require the Secretary of Commerce to spearhead a “Blockchain Deployment Program” that would “support American leadership in the deployment and use of blockchain technology and other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization.”
📣 Led by efforts from Congresswoman Lisa Blunt Rochester (D-DE) and Congressman Larry Bucshon (R-IN), the bill has even garnered approval from some of the crypto industry’s biggest voices, including the Blockchain Association and the Chamber of Digital Commerce.
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Political Movement The Other Party Reveals Plan for Blockchain-based Democracy in the UK ✅
➡️ The Other Party debuted in the UK today with a commitment to decentralize power and restore it to the public using blockchain technology.
👌 According to a statement published on its website, The Other Party aims to shake up conventional centralized political systems, fostering a more direct and transparent democratic process by harnessing the potential of blockchain technology.
💬 “Our mission is to remove the centralized power of politicians and return it to the hands of the people,” The Other Party founder Dom Ryder said. “By leveraging blockchain technology, we are ensuring every voice is heard, every vote counts and every decision is transparent and incorruptible.”
📣 One of The Other Party’s initiatives involves the issuance of “governance passports” to UK voters in the form of NFTs. These passports serve as a digital identity on the blockchain, ensuring that votes “immutable, traceable and protected from tampering or undue influence,” according to the party.
🛡 The concept revolves around verifying eligibility while upholding the anonymity of voters involved in decision-making. This approach empowers each passport holder to actively propose, vote on, and directly implement policies.
🟠 The Other Party also emphasized that any elected representatives from the party would be under a legal obligation to adhere to decisions made by their constituents rather than conforming to a party line.
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SEC Finally Serves Hex Founder Richard Heart with Lawsuit Alleging Fraud ⚡️
✏️ The United States Securities and Exchange Commission (SEC) has finally served Helsinki-based cryptocurrency developer Richard Heart with a lawsuit filed in July, according to a new court document. According to court documents, the SEC had been attempting to serve Schueler for over two months.
🟥 The latest court filing reveals that Heart (real last name Schueler) was served using a substitute service on October 31st in Helsinki, meaning the SEC was unable to physically deliver the lawsuit to Heart in person.
⚡️ The substitute service, in accordance with Finnish law, provides an alternative means of delivery for defendants who are hard to track down.
💬 “The multiple attempts of contacting Mr. Schueler (using different methods) over a period lasting nearly seven weeks have given ample time for a response from Mr. Schueler,” SEC attorney Matthew Gulde stated.
⤵️ Heart has been laying low since this past summer when the SEC filed the lawsuit against the crypto developer, alleging that he misappropriated millions in offerings and violated federal law through the sale of unregistered currencies.
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🚀🚀 $UNILAPSE: a huge pump coming on December 18?
Missed $BLUR? Then don’t miss $UNILAPSE. This Korean NFT marketplace is about to launch token staking & NFT staking on Dec 18.
$UNILAPSE chart shows a breakout from accumulation and almost no resistance above. $0.040-45 should be next. Huge potential for price discovery - could shed a zero very soon. 🌋
❗️ Unilapse is an important NFT player in Asia:
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- Incorporated in Hong Kong
- Offline art gallery + VR gallery
- Participates in major events like Art Busan
💲 Afraid to miss the pump? The best strategy is to get in before staking starts on Dec 18!
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🌎 Official Telegram
Missed $BLUR? Then don’t miss $UNILAPSE. This Korean NFT marketplace is about to launch token staking & NFT staking on Dec 18.
$UNILAPSE chart shows a breakout from accumulation and almost no resistance above. $0.040-45 should be next. Huge potential for price discovery - could shed a zero very soon. 🌋
❗️ Unilapse is an important NFT player in Asia:
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Verida and inDAO Team Up to Help Uzbekistan Adopt Web3 Tech 📣
📌 inDAO, a specialized organization focused on incorporating blockchain technology into daily life, and Verida, a provider of self-sovereign digital identity solutions, have formed a partnership with the goal of promoting the widespread adoption of Web3 in Uzbekistan.
➡️ The partnership will include the implementation of pilot projects and engagement with government stakeholders. The objective is to establish both technological and business consensus, ultimately delivering a cost-effective and efficient digital infrastructure for Uzbekistan.
🔔 This collaboration also aims to tackle user privacy and digital security across sectors such as healthcare, education, and real estate.
➡️ Verida and inDAO will collaborate directly with the Uzbekistan government’s Digital Economy Research Center to showcase the potential of this Web3 technology as a crucial component of Uzbekistan’s digital strategy, the release noted.
➡️ Over the course of 2023 and 2024, the companies will jointly undertake pilot programs to illustrate how inDAO’s blockchain technology, along with Verida’s self-sovereign web3 wallet and regulatory-compliant data storage, can empower citizens by providing them with control over their digital presence.
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$XDEFI: Massive adoption for the leading multi-chain wallet. 50x Potential?!
XDEFI Wallet, the 3rd largest multi-ecosystem self-custody wallet, has positioned itself for massive growth.
Token Catalysts:
🤝 XDEFI is forming partnerships with medium-sized exchanges, paving the way for tens of millions of new users on the XDEFI Wallet.
💹 More users mean more volume, resulting in increased revenue shared with $XDEFI stakers (75% revenue share).
🌐 XDEFI Wallet supports more chains than any other wallet, making it the go-to choice for utility, which generates more volume.
Trust Wallet could easily hit $1 billion market cap during the bull run. So, it's not unreasonable to expect $XDEFI to reach $100 million MC (10x) or even $500 million MC (50x) with its bullish catalysts.
Once the gas tank feature is released, $XDEFI will become the universal gas token. Say goodbye to gas worries! Demand will skyrocket.
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XDEFI Wallet, the 3rd largest multi-ecosystem self-custody wallet, has positioned itself for massive growth.
Token Catalysts:
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🌐 XDEFI Wallet supports more chains than any other wallet, making it the go-to choice for utility, which generates more volume.
Trust Wallet could easily hit $1 billion market cap during the bull run. So, it's not unreasonable to expect $XDEFI to reach $100 million MC (10x) or even $500 million MC (50x) with its bullish catalysts.
Once the gas tank feature is released, $XDEFI will become the universal gas token. Say goodbye to gas worries! Demand will skyrocket.
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UK Treasury Unveils Regulatory Framework for Digital Securities Sandbox ⚡️
🟥 The UK Treasury has revealed its regulatory framework for a Digital Securities Sandbox under the Financial Services and Markets Act.
👌 In a memo published on Monday, the UK Treasury explained that the purpose of these regulations is to establish a regulated setting, enabling both companies and regulators to experiment with new technology within financial markets. This initiative seeks to overcome current regulatory challenges and stimulate innovation within the crypto industry.
📣 These regulations grant the Treasury the authority to waive, adjust, or introduce new legislative mandates. Additionally, they authorize the Bank of England and the Financial Conduct Authority to manage and oversee a sandbox if granted the necessary powers by the Treasury.
♾ There is also a provision for the findings from sandbox experiments to be permanently incorporated into legislation through collaboration between the Treasury and Parliament.
⚠️ The regulations will empower qualifying financial market entities to engage as “sandbox entrants,” allowing them to undertake approved activities utilizing emerging technologies for a trial period of five years under adjusted regulatory conditions.
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Paxos Receives Regulatory Approval to Expand into Solana Blockchain 📌
➡️ Paxos has announced an expansion of its stablecoin issuance to the Solana blockchain after securing regulatory approval from the New York Department of Financial Services.
⚡️ In a press release published Friday, the stablecoin issuer noted that the initiative is a “significant milestone for the innovation and evolution of Paxos’s enterprise and consumer-facing businesses,” after previously exclusively using Ethereum due to restrictions imposed by the New York Department of Financial Services (DFS).
➡️ Additionally, the company said that it plans to offer its Pax Dollar (USDP) stablecoin on Solana to the public on January 17, 2024. USDP is a fiat-collateralized stablecoin.
❕ “The expansion of our stablecoin platform to support Solana marks an important step towards making stablecoins ubiquitous for everyday consumers,” said Walter Hessert, head of strategy at Paxos. “By integrating USDP with Solana, we’re making it easier for anyone to get and use the safest, most reliable stablecoins.”
⚠️ Hessert told Fortune that Paxos obtained a “non-objection” for extending USDP from Ethereum to Solana following a thorough and comprehensive evaluation, primarily centered around Solana’s internal risk framework.
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🎁 Contest features:
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2️⃣ 20 prize winners
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4️⃣ Prize money can be withdrawn immediately and without limit
5️⃣ Participation in the contest can be stopped any time with the funds saved
🏆 Winners get the following prize:
1️⃣st place = $1000
2️⃣nd place = $750
3️⃣rd place = $500
from 4️⃣th to 🔟th place = $250
from 1️⃣1️⃣th to 2️⃣0️⃣th place = $100
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🌍 24/7 Support:👇
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New Argentina President Legalizes All Foreign Currencies For Payment ‼️
⏺ Argentina’s newly elected leader, Javier Miliei, has struck down forced legal tender laws forcing Argentinians to settle debt obligations in specific currencies, enabling use of alternatives like USD and Bitcoin (BTC).
🗣 The rule comes attached to a sweeping executive order repealing over 300 laws, aiming to deregulate and rebuild the Argentinian economy. It also fuliflls one of Miliei’s chief campaign promise to enable local currency competition and help “dollarize” the nation.
❕ “It is necessary to respect the will of citizens to agree on the forms of cancellation of their obligations to give sums of money, without distinction of the legal tender or not of the currency that is determined,” read a translated version of the decree on Wednesday.
🔴 The nation’s minister of foreign affairs clarified on Thursday that contracts can now be “agreed in Bitcoin,” alongside virtually any other crypto or physical good including “kilos of steer or liters of milk.”
➡️ Though not explicitly targeted towards crypto, industry influencers view the bill as a step along the path toward Bitcoin (BTC) adoption, a currency proponents claim can help members of unstable economies escape hyperinflation.
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Hashdex Launches New Ad Campaign Amid SEC Deliberation on Bitcoin ETF Approvals 📌
📣 Hashdex, an asset management firm, has released a new advertisement as the U.S. Securities and Exchange Commission (SEC) is in the process of reviewing applications for the listing of spot Bitcoin exchange-traded funds (ETFs) in the country.
➡️ On December 28, Hashdex posted an advertisement on X (formerly Twitter), aligning with the ongoing deliberations at the Securities and Exchange Commission (SEC) regarding the approval or denial of applications for listing spot Bitcoin exchange-traded funds (ETFs) in the United States. The ad spot from Hashdex presents an interview scenario set in the 1980s, a period characterized by the increasing adoption of personal computers.
➡️ In the interview, the subject expresses criticism towards using home computers for everyday tasks, reflecting a dismissive attitude towards the technology.
🟢 The individual in the interview remarks,
💬 “It is amazing to me that tremendous impact that home computers have had on everyone, and yet it seems to me that people I have talked to have said that it takes longer to do something by putting it into your computer and calling it up again than if you just kept a simple record for yourself in-house.”
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Indonesian Authorities Raid Ten Crypto Mining Facilities for Energy Theft ⚠️
⏺ Indonesian authorities crack down on ten Bitcoin (BTC) mining sites for stealing energy from the national grid to power mining operations in the country.
🗣 According to reports from local media outlets, the government moved in on ten crypto mining sites whose operations saw them tap into the utility poles of the state-owned electricity company.
🌟 Authorities of the state-owned electricity company, PLN noted that wider coordination was key to uncover the mining operation deriving electricity from the national grip without approval. According to the report, the Bitcoin mines cost the state 1.4 billion Indonesian rupees approximately $100,000.
🔕 The raid uncovered 1,300 BTC mining machines used for illegal operations with one machine billed to consume 1,800 watts. Inspector General Agung Effendi, the North Sumatra Police Chief noted that the incident has been going on for an estimated six months with 26 people arrested from the ten locations.
⚠️ The PLN further assured all stakeholders to continue their collaborations with the police to prevent further electricity theft and protect the national grid.
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Wallet Drainers Make Off with $295 Million from 320,000 Users in 2023 📌
🔔 Popular crypto phishing scams drained almost $300 million from 320,000 users in 2023 with figures increasing monthly as bad actors deploy sophisticated techniques.
🟢 In a recent publication, cryptocurrency security firm, Scam Sniffers analyzed the market trends in the previous year stressing the activities of bad actors amid growing asset prices and extensive regulatory activities.
🔕 According to the report wallet drainers deployed on phishing websites achieved some “level of success” tricking users into signing big false transactions leading to loss of assets and more regulatory scrutiny in the markets.
👌 “Over the past year, phishing activities have steadily increased each month with phishing scammers employing more sophisticated tactics to evade security measures. Scam Sniffer has made findings on “Wallet Drainers” that warrant the industry’s full attention.”
➡️ In total, wallet drainer scams recorded took out $295 million from 324,000 victims last year with airdrops and hacking incidents seen in several months. Notably, March saw larger activities linked to the price fluctuations of USD Circle.
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Radiant Capital Resumes Arbitrum Markets Operations After Security Breach 👌
🔴 Radiant Capital has announced the reopening of its lending and borrowing markets on Arbitrum after an extensive security review.
➡️ According to Radiant Capital’s recent post, this resumption came after a detailed review and resolution of the security breach that resulted in a significant loss of $4.5 million Ethereum. The review was completed by OpenZeppelin, independent Ethereum researchers, and white hats.
📌 Following this rigorous analysis, the Radiant DAO Council unpaused market operations. Additional safeguards have been implemented to prevent similar incidents in the future, with a focus on enhanced security protocols.
💬 “Users are free to use all available lending and borrowing markets,” said Radiant Capital in the announcement. “Native USDC will be brought live over the coming days after additional reviews due to the increased complexity of doing so safely.”
📣 To address any potential financial discrepancies arising from the pause, the company disclosed plans for a Snapshot proposal. “A Snapshot proposal for the DAO regarding the methodology to repay the excess debt and fully recapitalize the Arbitrum WETH market will go up for a vote shortly,” said Radiant Capital.
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South Korean Ex-Police Officer Denies Crypto ‘Bribery’ Charges ♾
⚡️ The trial of a former South Korean police officer has begun in Gwangju. The ex-law enforcer denies taking bribes during a suspected crypto fraud investigation. Per the news broadcaster YTN, the former police sergeant is accused of receiving bribes from a crypto “broker.”
➡️ Prosecutors think the ex-police officer (surname: Jang) took over $30,000 in cash “on two occasions” in 2021. The prosecution service said that Jang was part of a team investigating suspected crypto fraud in the capital Seoul.
📌 Prosecutors say that a broker surnamed Seong gave Jang the money in a bid to divert the course of the investigation. The court heard that Jang said he would “exert an influence” in a case that was “being investigated by the Seoul Metropolitan Police Agency’s Financial Crimes Investigation Unit.”
🟥 Jang confessed to taking money from Seong. But Jang claimed the payments were loans, not bribes. Jang told the court that a company where he “served as an executive” had been “experiencing [financial] difficulties.”
➡️ The prosecution service said it wanted to summon and interrogate Seong as a witness.
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EBA Discusses Proposed Guidelines for Stablecoin Issuers 📌
🟢 European banking regulators have urged stablecoin issuers and other stakeholders to dialogue with regulators ahead of proposed stablecoin rules under the Markets in Crypto Assets (MICA) regulation.
🟥 The European Banking Authority (EBA) at a Jan 11 public hearing organized to examine the proposed regulations on stablecoins rolling out under the MICA framework.
➡️ In line with global standards, the financial regulators called for improved synergy between stakeholders in the sector and regulators to produce the perfect template to guide operational practices in the market.
👌 The EBA outlined proposed rules for stablecoins to all participants which it describes as asset reference tokens (ARTs) because they reference one or more assets to the underlying assets to maintain stability.
📣 Officials for the regulators stressed the importance of getting public feedback in shaping the entire landscape and are set to expand public consultations in the coming weeks until the final implementation.
🔕 Isabel Vaillant, an EBA director, highlighted at the hearing that the dialogue and resolutions reached in this batch will help both parties start on the right footing stating other benefits of the public hearing.
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