July 7, 2022
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Bitcoin could possibly be a panacea for revenue inequality, says Forbes

Bitcoin could possibly be a panacea for revenue inequality, says Forbes thumbnail
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Bitcoin (BTC) has the potential to unravel the world’s revenue inequality drawback as it might probably behave as a commodity and an asset on the identical time, and have its worth set by market demand, in accordance with an evaluation from Forbes.
The publish Bitcoin could possibly be a panacea for revenue inequality…

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United States Securities and Exchange (SEC) commissioner Hester Peirce mentioned the newly launched SEC Agency Rule List is stuffed with “hot-button” matters applied in an unreasonable hurry, whereas crypto was ignored.Commissioner Peirce, who is typically known as Crypto Mom for her robust constructive views on cryptocurrency, launched an announcement regarding the SEC Spring 2022 Regulatory Agenda and the SEC Agency Rule List.Though the SEC checklist had no entries that made specific reference to crypto, Perice famous that one of many proposed guidelines, Amendments to Exchange Act Rule 3b-16, “might regulate crypto protocols or platforms through an unmarked backdoor.” She went on to call 4 areas referring to crypto the place regulatory readability “would be appreciated.” Those included defining securities and points associated to custody, together with the company’s controversial Staff Accounting Bulletin 121.Related: SEC’s Hester Peirce opposes crypto bailouts — SBF didn’t get the memoPeirce additionally critiqued the company’s agenda, saying that the SEC set forth “flawed targets and a flawed technique for reaching them”, claiming the company has centered on “hot-button matters outside our remit,” equivalent to range, local weather change and human capital administration. The agenda additionally displays a “rush of radical rulemakings”, Peirce mentioned, with quick remark durations and market members pressured to implement a number of guidelines concurrently.“The agenda, if enacted, risks setting off the regulatory version of a rip current — fast-moving currents flowing away from shore that can be fatal to swimmers. […] The pace and character of the rulemakings on this agenda make for dangerous conditions in our capital markets.”Peirce is commonly the lone dissenting voice on the SEC board, notably in relation to crypto. She has criticized the company for “leading with enforcement” and failing to offer the business with regulatory steerage.

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The hacker who exploited Solana-based liquidity protocol Crema Finance on July 2 returned a lot of the funds however was allowed to maintain $1.6 million as a white hat bounty.The bounty, 45,455 Solana (SOL), is price a beneficiant 16.7% of the $9.6 million Crema misplaced initially, which pressured the protocol to droop companies. Crema’s staff started an investigation to determine the hacker by monitoring their Discord deal with and tracing the unique fuel supply for the hacker’s deal with. Just because it appeared the staff could have been onto the key id, it introduced that it had been negotiating with the hacker. On July 6, the hacker returned 6,064 Ether (ETH) and 23,967 SOL price roughly $8 million.After a protracted negotiation, the hacker agreed to take 45455 SOL because the white hat bounty. Now we now have confirmed the receipt of 6064 ETH + 23967.9 SOL in 4 transactions indicated under. A follow-up compensation plan shall be launched in 48h.— CremaFinance (@Crema_Finance) July 6, 2022 The hacker returned the funds in a sequence of transactions on Ethereum and Solana networks. The first transaction on every community was a take a look at with a negligible quantity of cash, whereas the next was price the vast majority of the funds despatched.Users of Crema and the staff have cause to relaxation simpler now that the funds have been secured, however there’s nonetheless work to do. The staff introduced on July 5, earlier than the deal had been reached, that it submitted new code for auditing to make sure that the identical exploit didn’t occur once more. Although the group awaits an official autopsy on the assault, the Crema staff outlined what occurred in a July 3 thread on Twitter. The attacker took out a flash mortgage from the Solend decentralized finance (DeFi) lending protocol, which was added as liquidity to a Crema pool. The hacker then fabricated pricing information to make it appear as if they have been owed a a lot larger reward than they need to have. This allowed them to take “a huge fee amount” price about $9.6 million from the pool to which they added the flash mortgage. Related: Dutch University set to recuperate greater than twice the paid BTC ransom in 2019The Crema protocol shall be again up and working after the audit is full, in response to the staff’s tweet. The staff may even concern a compensation plan for affected customers by July 8.Crema is fortunate to have recovered as a lot funds because it did, contemplating the calamity that befell the Horizon Bridge on Harmony final month. A hacker stole $100 million in crypto from Harmony’s token bridge and rejected the $1 million white hat bounty to return the funds.

July 7, 2022
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Price evaluation 7/30: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC

July 30, 2021
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July 29, 2021
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Price evaluation 7/26: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC

July 26, 2021
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Price evaluation 7/23: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC

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