The Unchained Web Daily Crypto News #97

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Monero Wallet Address:

42EkgN23XZoLJXrgMJjrRM7jYpmirk1WvWUWc2SDF6kZAXVzHMGy5XB8JM8Vce3iHGKh9H8ACWF9J6ErrfKCP48mL2yeWcw

Bitcoin Wallet Address: bc1q4283c60tv2p7exfeu2ql7dk2n7utswgl43n2fk

ETH & ERC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

BNB & BRC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

Reclaim (some) Privacy Webinar Series: Intro to SearXNG & other privacy engines

In April, I am planning my first webinar in a series focused on privacy. The specific webinar will be focused on why Google may not be the best search engine to use and the SearXNG meta search engine and how it can be used to enhance privacy when using a search engine to research or find something to one's interest.

If you are interested in the topic, feel free to click "attend" on the link to the event below: https://www.dhirubhai.net/events/7167975601373458433/about/

Global Layoffs Slow Down With New Job Opportunities Emerging

In the global job market, crypto companies are expanding their operations after experiencing layoffs during the pandemic. Coinbase, a major exchange, laid off over 1,000 staff members and is currently battling the US Securities and Exchange Commission (SEC) over unregistered brokerage claims. Crypto.com, a Singapore-based exchange, reportedly fired 2,750 employees. There have been executive departures and legal disputes involving companies like Luno, Gemini, and Binance. Despite these challenges, the US job market remains strong, with fewer job cuts per month, and unemployed individuals finding new jobs quickly, especially in the tech industry. Crypto and AI companies are actively hiring, with Circle planning to increase its staff by 25% and Elon Musk's AI program X recruiting in Silicon Valley. The Singapore Monetary Authority's proposed asset custody rules have prompted Gemini to add 100 employees to its Singapore operation. Click here for more.

Multichain Shutters Operations After Chinese Police Take CEO’s Sister Into Custody

Multichain, a bridge protocol, has ceased operations due to a lack of funds and the arrest of its CEO, Zhaojun, by Chinese police. The protocol faced issues with pending transfers, and it was later confirmed that Zhaojun was missing and had sole access to the servers causing the delays. The recent announcement confirmed Zhaojun's arrest, with the police confiscating his devices, crypto wallets, and mnemonic phrases, effectively freezing the team's funds and leading to the shutdown of operations. Furthermore, Zhaojun's sister, who had accessed customer assets locked in wallets, has also been arrested, and the status of the secured assets is now uncertain. Click here for more.

Christie’s, Gucci Explore Generative Art and?Fashion

Christie's and Gucci are collaborating on an auction called "Future Frequencies: Explorations in Generative Art and Fashion." The auction will feature 21 NFTs created by leading artists in the digital art space, focusing on generative systems and artificial intelligence. The artworks range from abstract to literal interpretations and explore themes related to garments, textiles, and the fashion industry. The auction will take place from July 18 to July 25 on Christie's 3.0 platform and will be showcased on Gucci Art Space. The collaboration aims to push the boundaries of creativity and technology in fashion. Click here for more.

United Kingdom’s digital pound meets public backlash

The UK government's consultation on the introduction of a digital pound, or "Britcoin," has received a public backlash due to concerns over privacy and potential risks to the financial system. Respondents to the consultation expressed worries about increased surveillance and the ease of moving funds out of commercial banks during times of crisis. However, proponents argue that a digital pound is necessary to keep up with the evolving payments sector and maintain the UK's position at the forefront of technological change. Privacy concerns can be addressed through the use of privacy-enhancing technologies, but the balance between privacy and regulation remains a challenge. The introduction of a central bank digital currency (CBDC) could also impact financial inclusion and simplify transactions, but its relationship with private digital currencies like Bitcoin is still uncertain. The full-scale launch of a digital pound is still years away, and careful consideration of its benefits and challenges is necessary. Striking a balance between privacy and regulation will be crucial in the development of a CBDC. Click here for more.

Indonesia to launch crypto exchange in July

The Indonesian government is set to launch a national cryptocurrency exchange in the coming weeks, according to the country's Commodity Futures Trading Supervisory Agency (Bappebti). The exchange will become the sole platform for cryptocurrency transactions in the country, with all trading taking place exclusively through it. The exchange will incorporate Know Your Customer (KYC) procedures, and trading will be facilitated through an integrated application that has already undergone testing. The exchange will initially focus on local transactions but will also align with international market developments. Licensed traders will have one month to join the exchange after it receives the necessary permit. The launch of the national exchange was initially planned for June 2023 but was delayed from its original target of December 2022. The initiative began with a joint venture between a state-backed telecom firm and Binance, which increased its shareholding in an Indonesian crypto asset trader, Tokocrypto, in late 2022. Click here for more.

US Representative Torres demands investigation of SEC deal with Prometheum

U.S. Representative Ritchie Torres has filed requests for an investigation into the United States Securities and Exchange Commission (SEC) regarding its approach to digital assets. Specifically, Torres highlights the SEC's granting of a special broker purpose dealer (SPBD) license to Prometheum, a digital assets platform. Torres questions the SEC's failure to create a viable registration process for digital assets platforms and refers to the Prometheum deal as an "unusual backdoor deal." Prometheum has faced scrutiny recently, including allegations of ties to Chinese investors, and Torres' request for an investigation adds to the calls for scrutiny of the company. Click here for more.

Sam Altman’s Worldcoin passes 2M sign-ups after months of touring

Worldcoin, a cryptocurrency and digital identification project, has reached over two million sign-ups for its World ID program, which aims to provide a global digital passport stored on users' phones. To join the program, individuals must visit an orb to scan one of their eyeballs, creating a unique "IrisHash" for identity verification. Successful participants are rewarded with Worldcoin cryptocurrency. Worldcoin attributes its rapid sign-up growth to a recent multicity tour and anticipates the availability of eye-scanning devices, called "Orbs," to increase worldwide. Other protocols, such as Okta's Auth0 and Talent Protocol, have started using World ID. In May, Worldcoin launched the World App, a gas-free crypto wallet, and raised $115 million in a funding round to support the expansion of its World ID program. Click here for more.

Circle CEO spells doom scenario for US dollar in warning to Congress

Jeremy Allaire, CEO of Circle, the issuer of USD Coin (USDC), has warned that the position of the United States dollar as a global reserve currency is at risk if stablecoins are not regulated quickly by Congress. Allaire emphasized the increasing competition for digital currencies on the internet, pointing out the threat of foreign digital currencies like the digital yuan. He argued that the U.S. must choose whether it wants the dollar to be the foundation of currency on the internet or let other countries take the lead. Allaire urged for the regulation of stablecoins to build trust in digital dollars and ensure the dollar's continued status as the world's reserve currency. He claimed that crypto will fundamentally change payment systems and highlighted the inefficiencies and fees in traditional financial payments. Mike Novogratz, founder of Galaxy Digital, echoed Allaire's sentiments and expressed support for well-regulated stablecoins. Click here for more.

Coinbase’s Base launches mainnet for builders, will onboard users in August

Coinbase's Base mainnet, a layer-2 network built on Ethereum, is now open to builders ahead of its public launch in August, according to an announcement from the development team. The network has been running since July 2 and has already processed over 1 million transactions. The team has deployed an official bridge contract called OptimismPortal, which allows developers to transfer Ether to the Base network to pay gas fees. However, the bridge currently lacks a user interface and can only be accessed through a command-line interface or scripts. The team has requested developers to refrain from launching UIs for their apps until the public launch. In celebration of the event, builders have the opportunity to mint a commemorative nonfungible token (NFT), and developers who deploy a contract to the network can receive a Genesis Builder NFT. The Base network is expected to form a "Superchain" with Optimism, and it will compete with zkSync's Hyperchains. Click here for more.

Powerful central bank group says crypto ‘amplifies’ risks and contributes nothing to society

A report from the Bank for International Settlements (BIS) indicates a shift in the institution's stance towards decentralized finance (DeFi) and cryptocurrencies. The report concludes that the crypto sector has failed to deliver on its promise of innovation and derisking finance, and it highlights the amplification of financial risks by DeFi. The BIS warns that crypto's structural flaws make it unsuitable for a significant role in the monetary system. The BIS's influence may embolden regulators to adopt a tougher stance on crypto, while traditional finance giants are increasingly entering the asset class. The report suggests implementing regulatory guardrails to protect consumers. However, it acknowledges the positive elements of blockchain-based finance, such as programmability and composability. Click here for more

A 20-year-old Argentinian behind the $200m Euler hack says he’s now in a Paris jail

Federico Jaime, who claims to be responsible for the $200 million Euler Finance hack, says he is currently in a Paris jail on unrelated charges. He admits to exploiting Euler with the help of a student in Spain but claims infighting led to the student attempting to betray him. Jaime states that his intention was to return the funds to Euler and defends his use of Tornado Cash. He confirms giving most of the money back but mistakenly sent $200,000 to the North Korean Lazarus Group. The Bank of International Settlements warns that DeFi has failed to derisk finance and suggests implementing regulatory guardrails. Click here for more.

SEC’s probe of puny BarnBridge DAO augurs deep DeFi crackdown

BarnBridge DAO, a digital cooperative with just $1 million in deposits, announced its closure in the face of an SEC investigation. The case may provide insights into what DeFi protocols can expect as SEC Chair Gary Gensler sets his sights on the industry. The recent settlement of a case against Ooki DAO, which functioned as an unregistered commodities trading platform, may offer clues about the legal challenges faced by BarnBridge DAO. The SEC is likely to argue that BarnBridge's business was unlawful. The closure of BarnBridge DAO demonstrates that the size of a project does not exempt it from scrutiny, as the SEC has also targeted smaller projects like LBRY. Click here for more.

If you enjoy and find value in the newsletter, please feel free to donate for its upkeep and independent nature as much as you think is fair:

Monero Wallet Address:

42EkgN23XZoLJXrgMJjrRM7jYpmirk1WvWUWc2SDF6kZAXVzHMGy5XB8JM8Vce3iHGKh9H8ACWF9J6ErrfKCP48mL2yeWcw

Bitcoin Wallet Address: bc1q4283c60tv2p7exfeu2ql7dk2n7utswgl43n2fk

ETH & ERC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

BNB & BRC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

Reclaim (some) Privacy Webinar Series: Intro to SearXNG & other privacy engines

In April, I am planning my first webinar in a series focused on privacy. The specific webinar will be focused on why Google may not be the best search engine to use and the SearXNG meta search engine and how it can be used to enhance privacy when using a search engine to research or find something to one's interest.

If you are interested in the topic, feel free to click "attend" on the link to the event below: https://www.dhirubhai.net/events/7167975601373458433/about/

Brought to you by Alexandros Dolgov CBA? (Study/Bitcoin)