Transaction URL: https://etherscan.io/tx/0x49c6c6d81942e98a1cc780e149da388930944226c26c2a313eeb66e817d15a9d
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People like to refer to Bitcoin as a trojan horse that we are going to smuggle into the legacy financial system and government. Stablecoins are a trojan horse into our system that has already been successfully smuggled in.
Stablecoins are heralded as some savior of the developing world, a positive escape hatch for them from decrepit financial systems and local currency risks. Well that’s the thing about traps, they have to entice you to wander into them or they don’t function very well as traps do they?
All of the stablecoin volume of significance happens on highly centralized blockchains, issued through highly centralized smart contracts that almost entirely (with rare…
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NYDIG has announced plans to acquire Crusoe’s bitcoin mining operation, including its Digital Flare Mitigation (DFM) business. The transaction is subject to regulatory approvals, customary consents, and final closing. When completed, approximately 135 Crusoe employees will join NYDIG and continue operating the business under its ownership. No job eliminations are expected as a result of the acquisition. The financial terms of the deal have not been disclosed.
“Our partnership with Crusoe was founded on a shared cultural alignment and mutual commitment to driving advancements at the intersection of power and compute,” NYDIG CEO Tejas Shah stated. “Crusoe has built an…
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Luke Barwikowski, founder of the pixelated MMORPG Pixels on Ronin, has revealed that he’s received repeated death threats against himself and his family because of his role in the crypto gaming industry.
“I don’t think people understand the amount of death threats Web3 founders get — it’s kind of crazy,” he wrote. “I have thick skin & good opsec though.”
OpSec, or operations security, is a term that refers to one’s security process that prevents sensitive info from getting into the wrong hands.
“It’s not just me,” Barwikowski added, suggesting other crypto founders…
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World Liberty Financial Inc. (WLFI) is set to introduce USD1 a stablecoin pegged 1:1 with the US dollar. This new cryptocurrency will be fully backed by short-term US government treasuries and US dollar deposits offering a secure and reliable alternative in the DeFi space. Initially launching on Ethereum and Binance Smart Chain blockchains WLFI plans to expand to other protocols in the future.
USD1 will maintain a consistent value of $1 supported by a reserve portfolio audited by a third-party firm. WLFI emphasizes that this digital dollar offers the benefits of decentralized finance with the credibility and safeguards of traditional finance institutions. It aims to provide sovereign investors and major institutions a secure solution for cross-border transactions.
BitGo the world’s leading independent custodian will hold USD1 reserves. By partnering with BitGo WLFI ensures that USD1 is both secure and efficient providing institutional clients with access to liquidity and trading services while safeguarding their assets under regulated custody.