A protocol designed to use zero knowledge cryptography to verify identities has landed on the Aleo blockchain, a zero knowledge privacy (ZKP) network.

The protocol, called zPass, enables users to upload identity documents offline to privacy servers and share anonymous “proofs” to organizations. As a result, these companies do not need to store this data themselves.

Users who generate their own proofs can then determine exactly who they share their information with and just how much personal data they wish to reveal. 

Alex Pruden, Aleo’s CEO, told Blockworks in an interview that zPass represents the implementation of a research paper into zk-creds.

“The idea of zk-creds was to…

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Attorneys representing the United States Justice Department rested their case against Sam “SBF” Bankman-Fried after more than three weeks of expert witnesses and testimonies from former FTX and Alameda employees. 

According to reports from the courtroom on Oct. 26, the U.S. government’s last witness before resting was FBI agent Mark Troiano, who primarily testified on SBF’s involvement in more than 300 groups with the messaging app Signal. Following Toiano’s testimony, Bankman-Fried’s lawyers motioned to dismiss, which was quickly denied by Judge Lewis Kaplan.

SBF’s attorneys, Mark Cohen and Christian Everdell, presented two witnesses before Bankman-Fried. Krystal Rolle, a…

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Bitcoin (BTC) fell below $34,000 after the Oct. 26 Wall Street open as consolidation at 17-month highs continued.

BTC/USD 1-hour chart. Source: TradingView$33,000 becomes do-or-die BTC price level

Data from Cointelegraph Markets Pro and TradingView showed BTC price behavior challenging intraday lows.

The largest cryptocurrency had attempted to push higher still the day prior, but sell-side pressure ensured that $35,200 remained untouched as a ceiling.

“We are going to have to wait for some candles to develop to see what the next move is, but we can gain some insight by continuing to monitor liquidity placement in the order book,” monitoring resource Material Indicators wrote in part of…

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His X profile bio says “Your doubt is my alpha.”

The motto rings true in Joel Monegro’s approach to investment in the crypto industry. During Ethereum’s struggles in 2018 and 2019, for example, the partner at Placeholder played the contrarian game and invested heavily in the ecosystem. 

“It’s hard to imagine that Ethereum would be an outcast today because now it has this sort of dominant position,” he says, “but Ethereum went through a really tough time in ‘18 and ‘19.”

The venture capital firm “doubled down” on the struggling network — and it paid off. Monegro says that some of the firm’s best investments were made “at the bottom in 2019.”

On the…

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The cloud.

It’s a fabric that connects people in ways that were impossible just a few years ago — and we all pay for it.

“All of us pay a ‘cloud tax,’” Greg Osuri says. “We just don’t realize it.” According to Osuri, 50% of online subscription fees, for example, end up in the pockets of cloud providers.

On the 0xResearch podcast (Spotify/Apple), the founder and CEO of Overclock Labs and core contributor to Akash says that the cloud “keeps a modern society together.”

Cloud technology brings incredible value by enabling “amazing services for us and storing our data” but users have little to no control over this “invisible layer” of society, he says.

Osuri…

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The United Kingdom passed the Economic Crime and Corporate Transparency bill Thursday.

The bill — which moved to the final stages of the process in September — will expand the abilities of authorities to freeze and seize crypto suspected of being used in crimes such as money laundering and drug trafficking.

It’s tied to an earlier piece of legislation, the Proceeds of Crime Act 2002, which aims to “out the legislative scheme for the recovery of criminal assets with criminal confiscation being the most commonly used power.”

The bill now awaits the Royal Assent — also expected to take place Thursday —which is when King Charles agrees to make it law.

Read more: FCA issues…

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FTX co-founder Sam Bankman-Fried faces seven federal charges in a criminal trial taking place in Manhattan. The former crypto exchange exec is accused of misappropriating billions of dollars of customer funds for real estate, donations, political contributions and investments. 

The current state of play: The prosecution is expected to wrap up their case this morning. They’ll end by putting an FBI agent on the stand. Then it’s on to the defense’s case, with Sam Bankman-Fried testifying. His testimony is expected to last most of the day and into Friday. Read more here.

9:45 am ET: Sam Bankman-Fried takes the stand

It’s been about a week since SBF’s trial adjourned, and it’s…

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