Succinct’s SP1 bug sparks transparency debate in ZK security

This is a segment from the 0xResearch newsletter. To read full editions, subscribe.

Succinct’s SP1 ZKVM has come under scrutiny after LambdaClass disclosed a critical security vulnerability in its proof generation. The exploit in version 3 of SP1, discovered in collaboration with 3Mi Labs and Aligned, stemmed from the interaction of two separate security flaws.

Succinct previously disclosed the potential exploit to its customers via Github and Telegram.

Here’s what happened in simple terms:

Missing Verification Step — The system relied on a list to track key proof components but didn’t properly verify that the list was accurate. Consequently, a malicious prover… Read more on Blockworks

The Game Theory of a Strategic Bitcoin Reserve

Bitcoin’s decentralized consensus mechanism works based on some cleverly crafted incentive structures. The first and fundamental rule is that the chain with the most work is the correct one. This single rule obviates the need for a central arbitrator, determining which chain is correct as a function of the efforts of thousands of decentralized parties, each trying to extend the blockchain. The subsidy to miners keeps moving the blockchain forward, creating painful opportunity costs for miners who don’t mine the tip. These mechanisms, together with the difficulty adjustment, set the game theoretical framework for a chain that has marched forward, 1 block at time, with near 100% clarity…

Read more on BitcoinMagazine

Donald Trump Vows to Propel Bitcoin to New Heights

In a recent series of tweets, David Bailey, CEO of BTC Inc, shared highlights from a private conversation with President Donald Trump. Bailey revealed that Trump expressed unwavering support for the Bitcoin community. According to Bailey, the former president stated, “He’s with us 100%, we’re going to send things to much greater heights, and we’re going to outcompete China and other countries that want to take it from us.”

Just talked with @realDonaldTrump and thanked him for keeping his promises to our industry and to Ross. I asked him if he wanted to share a message with the Bitcoin community…He said he’s with us 100%, we’re going to send Bitcoin to much greater heights, and…

Read more on BitcoinMagazine

AI token selloff a product of too much ‘excitement’

This is a segment from the Empire newsletter. To read full editions, subscribe.

That’s one way to describe yesterday’s action both in crypto and outside of it. 

Galaxy Trading summed the action up to a “function of broader crypto market movements” while GSR’s Carlos Guzman said that the AI narrative dominated the day. 

Basically, DeepSeek — a Chinese AI company — was able to rival OpenAI’s very expensive model for much cheaper on older (and much less expensive) chips, hence the selloff in Nvidia. 

(Sidenote here: Decide AI’s Jesse Glass doesn’t think that the cheaper GPU story will last because DeepSeek will still need larger GPUs as it… Read more on Blockworks

Protect Your Bitcoin — And Yourself — With AnchorWatch

Founders: Becca Rubenfeld and Rob Hamilton

Date Founded: March 2022

Location of Headquarters: Nashville, TN

Number of Employees: Five (soon to be seven)

Website: https://www.anchorwatch.com/

Public or Private? Private

After almost three years of development, AnchorWatch has rolled out its product — a collaborative bitcoin multisig vault that comes with an insurance policy.

The company has created what it calls a Trident Vault, which utilizes smart contracts on Bitcoin to enable features like timelocks, multisig quorums and spending conditions, and AnchorWatch insures the bitcoin protected by these vaults as a Lloyd’s of London Coverholder.

The combination of this technology plus world-class…

Read more on BitcoinMagazine

Brazilian Oil Giant Explores Bitcoin Mining

Brazil’s state owned oil and gas company Petrobras is reportedly assessing getting into Bitcoin mining. This is a new chapter for the company and shows how traditional industries are adapting to the digital world.

Petrobras, one of the largest and most profitable oil companies in the world, is going to use excess natural gas produced during the oil extraction process to power bitcoin mining.

This will reduce energy waste and methane emissions, and create a new revenue stream for the company.

Using excess gas to mine bitcoin is how oil companies can become more profitable. The project is part of Petrobras’ R&D agenda to explore Bitcoin and diversify the company’s…

Read more on bitcoinnews