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SBF denies stealing FTX assets, SEC charges Gemini and Genesis, and more: Hodler’s Digest: Jan. 8-14
Top Stories This Week Sam Bankman-Fried: ‘I didn’t steal funds, and I certainly didn’t stash billions away.’ In a “pre-mortem overview” of FTX’s bankruptcy, Sam Bankman-Fried denied allegations of improper use of customer funds stored with the crypto exchange, attributing responsibility for the company’s dramatic fall to the market crash of 2022 and Binance CEO Changpeng Zhao’s PR campaign against FTX. In Bankman-Fried’s view, a run on the bank turned illiquidity issues into insolvency. Among the latest developments in the bankruptcy proceedings, a bipartisan group of United States senators criticized one of the law firms involved in the case on the grounds of a conflict of interest, and called on the U.S. Bankruptcy Court for the District of Delaware to appoint an independent examiner int...
Solana Foundation warns about security incident with Mailchimp
Solana Foundation, the non-profit organization of the Solana Network, disclosed on Jan. 14 a security incident involving its email service provider Mailchimp. According to an email sent to users and seen by Cointelegraph, the Foundation was informed by Mailchimp on Jan. 12 that “an unauthorized actor accessed and exported certain user data from the Solana Foundation’s Mailchimp instance.” Among the information accessed and exported in the incident were user’s names and Telegram usernames. The Solana Foundation stated: “Based on the information we have received from Mailchimp, the affected information may have included, inter alia, email addresses, names, and Telegram usernames, in each case only to the extent users provided any such information. Mailchimp advi...
Solana Foundation warns about security incident with Mailchimp
Solana Foundation, the non-profit organization of the Solana Network, disclosed on Jan. 14 a security incident involving its email service provider Mailchimp. According to an email sent to users and seen by Cointelegraph, the Foundation was informed by Mailchimp on Jan. 12 that “an unauthorized actor accessed and exported certain user data from the Solana Foundation’s Mailchimp instance.” Among the information accessed and exported in the incident were user’s names and Telegram usernames. The Solana Foundation stated: “Based on the information we have received from Mailchimp, the affected information may have included, inter alia, email addresses, names, and Telegram usernames, in each case only to the extent users provided any such information. Mailchimp advi...
One of the largest US colleges has begun teaching students about Bitcoin
Classroom adoption of Bitcoin and cryptocurrency courses continue to skyrocket, with Texas A&M now being the latest U.S. College to offer a Bitcoin course to some of its 74,000+ students. The news was announced on Jan. 13 by Associate Professor Korok Ray of Mays Business School at Texas A&M, who will be teaching the “Bitcoin Protocol” course to students in the College of Engineering and Mays Business School when the Spring Semester starts on Jan. 17. I will be teaching the first ever Bitcoin class at Texas A&M this spring! — Korok Ray (@KorokRay) January 12, 2023 Ray stated in the 4-part Twitter thread that “Programming Bitcoin” will follow Bitcoin Protocol, where students will learn to “build a Bitcoin library from scratch.” The professor added that it was no easy feat to rece...
One of the largest US colleges has begun teaching students about Bitcoin
Classroom adoption of Bitcoin and cryptocurrency courses continue to skyrocket, with Texas A&M now being the latest U.S. College to offer a Bitcoin course to some of its 74,000+ students. The news was announced on Jan. 13 by Associate Professor Korok Ray of Mays Business School at Texas A&M, who will be teaching the “Bitcoin Protocol” course to students in the College of Engineering and Mays Business School when the Spring Semester starts on Jan. 17. I will be teaching the first ever Bitcoin class at Texas A&M this spring! — Korok Ray (@KorokRay) January 12, 2023 Ray stated in the 4-part Twitter thread that “Programming Bitcoin” will follow Bitcoin Protocol, where students will learn to “build a Bitcoin library from scratch.” The professor added that it was no easy feat to rece...
Burning Man’s Mayan Warrior Is Using Blockchain Tech to Fund Art On the Playa
Fans of the legendary Burning Man metropolis and its devoted Mayan Warrior community have a new way to preserve its future prospects both on and off the playa. Blockchain technology has long been lauded as a more transparent and cost-effective means of fundraising. Now Mayan Warrior, one of the world’s premier artistic communities is embracing its possibilities. The organization, which operates as a 501(c)(3), has announced the “Mayan Warrior Amulet,” an offering of digital assets to directly support the artistic endeavors that have built the community into a creative powerhouse over the last decade. By purchasing the blockchain-powered assets, the community’s members can directly fund artists to help “produce, bring, and display their live interact...
4 things to know about the gas stove frenzy
A gas stove flame. | David McNew/Getty Images By David Iaconangelo 01/14/2023 12:02 PM EST Conservatives have discovered a new punching bag: the idea of a federal ban on gas stoves. But what is the Biden administration really planning? And how would any rules on gas stoves affect emissions and intersect with existing local policy? The notion of a federal ban began with comments by one of the Consumer Product Safety Commission’s five members, Richard Trumka Jr., who said the agency should develop new regulations on gas stove emissions and should not rule out an end to sales of the product. That prompted prominent Republicans and oil and gas allies to blast the move, calling it an archetypal example of liberal meddling, while frequently mischaracterizing the idea as a ban on owning gas stove...
App-specific blockchains remain a promising solution for scalability
App-specific blockchains, or appchains, are specifically designed to support the creation and deployment of decentralized applications (DApps). In an appchain, each app runs on its separate blockchain, linked to the main chain. This allows for greater scalability and flexibility, as each app can be customized and optimized for its specific use case. Appchains are also an alternative solution for scalability to modular blockchains or layer-2 protocols. Appchains present similar characteristics to modular blockchains, as it is a type of blockchain architecture that separates the data, transaction processing and consensus processing elements into distinct modules that can be combined in various ways. These can be thought of as “pluggable modules” that can be swapped out or combined depending ...
Gemini and Genesis’ legal troubles stand to shake up industry further
With investor confidence seemingly at an all-time low thanks to the recent slew of insolvencies, a new saga seems to be now unfolding in real time. This one involves crypto exchange Gemini’s Winklevoss twins and Barry Silbert, CEO of Digital Currency Group (DCG) — the parent firm behind crypto market maker and lender Genesis. On Jan. 2, Cameron Winklevoss posted an open letter to Barry Silbert reminding him of the fact that it had been “47 days since Genesis halted withdrawals” while also providing a blunt, seemingly confrontational assessment of DCG’s existing business practices: “For the past six weeks, we have done everything we can to engage with you in a good faith and collaborative manner in order to reach a consensual resolution for you to pay back the $900 million that you owe.” Th...
Cointelegraph heads to Davos for World Economic Forum
As the World Economic Forum brings global leaders together to tackle global issues, a number of cryptocurrency and blockchain events will create a vibrant sideshow in the snowy ski destination in the Swiss Alps. Cointelegraph will be on the ground to cover the World Economic Forum (WEF) as well as a host of blockchain-focused events taking place. Key members from global governments, businesses and civil society converge on the town annually for the WEF conference, but cryptocurrency and blockchain events are beginning to make their mark during the exclusive event. The official WEF agenda for 2023 has made provision for cryptocurrency and blockchain as talking points featuring during the week-long conference. A session titled ‘Finding the Right Balance for Crypto’ on 19 January (15:00 CET) ...
New York sued by environmental group after approval of crypto mining facility: Report
The New York Public Service Commission (PSC) was sued by environmental activists on Jan. 13 for approving the takeover of a cryptocurrency mining facility in the state. According to The Guardian, the state Public Service Commission (PSC) is responsible for regulating public utilities, and authorized in September 2022 the conversion of the Fortistar North power plant into a crypto mining site. The facility is located in Tonawanda, a city less than ten miles from Niagara Falls, and was set to be taken over by the Canadian crypto mining firm Digihost. Plaintiffs claim that the approval violates New York’s climate law of 2019. The Climate Leadership and Community Protection Act (CLCPA) sets the goal of reducing 85% in statewide emissions by 2050, and zero-emissions electricity by 2040, a...
What the right’s gas stove freakout was really about
Some city and state leaders are working to prohibit gas stoves and furnaces in new buildings, on the grounds that they endanger health and contribute to climate change. | Scott Olson/Getty Images No, President Joe Biden isn’t coming for your gas stove. Republicans and conservative pundits have spent the past week nonetheless expressing alarm about the fate of Americans’ ranges and cooktops — in line with previous GOP complaints about real or imagined threats to hamburgers, toilets, air travel, incandescent light bulbs and gasoline-powered cars. Genuine or not, the stove flap gave Republican lawmakers an opening to put Biden’s energy policies back on the front burner, after last year’s spurt of high gasoline prices had faded from the headlines. It also touches on a real, coast-to-coast crus...
