Nguyen Dang Trung (@whitehack) • Hey
A normal guy
Publications
- Gemini Blasts DCG and Genesis Bankruptcy Plan, Calling It ‘Misleading
Under the plan, Gemini creditors would receive a “fraction” of the money they are owed, Gemini’s lawyers said.
Crypto exchange Gemini has criticized a bankruptcy recovery plan related to Genesis, Gemini’s partner on a lending program that’s been frozen for months, saying the potential deal is “misleading at best,” according to a [Friday court filing](https://storage.courtlistener.com/recap/gov.uscourts.nysb.314889/gov.uscourts.nysb.314889.704.0.pdf).
Earlier this week, Genesis and its parent company, Digital Currency Group, said more than 230,000 retail creditors who used Gemini’s Earn program stand to be made “nearly whole” under a proposed remuneration deal to be voted on later this year. Earn was offered to customers of the Gemini crypto exchange, but Genesis supplied the financial infrastructure that ran the program. (Genesis, like CoinDesk, is owned by DCG.)
But Gemini said Friday that Gemini Earn users will not recover “anything close \[to the] real value” of the money they’re owed under the proposal.
“DCG touts proposed recovery rates that are a total mirage – misleading at best and deceptive at worst,” Gemini’s lawyers said in the filing. “Make no mistake: Gemini Lenders will not actually receive anything close in real value terms to the proposed recovery rates under the current ‘agreement in principle.’”
DCG owes more than null.65 billion to the beleaguered crypto lender Genesis, which, in turn, [owes some null.2 billion to Gemini](https://www.coindesk.com/business/2023/07/04/geminis-cameron-winklevoss-tweets-15b-final-offer-in-debt-talks-over-crypto-firm-genesis/). Genesis owes over $3 billion to its top 50 creditors overall.
- DeFi economic activity drops 15% in August —VanEck
According to an analysis from investment manager firm VanEck, exchange volume across DeFi protocols declined to $52.8 billion in August, 15.5% lower than in July.
The decentralized finance (DeFi) ecosystem has suffered more setbacks in August as on-chain economic activity dwindled. According to an analysis from investment manager firm VanEck, exchange volume [declined](https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vaneck-monthly-crypto-recap-for-august-2023/) to $52.8 billion in August, 15.5% lower than in July.
The findings are based on VanEck's MarketVector Decentralized Finance Leaders Index (MVDFLE), which tracks the performance of the largest and most liquid tokens on DeFi protocols, including Uniswap
The DeFi Index underperformed Bitcoin and Ether in August, falling 21% in the month, notes the report. The results were exacerbated by UNI token negative performance of 33.5%, as investors sold off tokens to capture gains from July.
Another key metric for the ecosystem, the total value locked (TVL) declined 8% in August, from $40.8 billion to $37.5 billion, slightly outperforming Ethereum’s 10% slump in the month.
- Bitcoin’s cycles are changing — Bloomberg analyst Jamie Coutts explains
This week’s episode of Market Talks discusses how Bitcoin cycles are changing and how it could impact the upcoming halving.
In the latest episode of Cointelegraph’s *Market Talks*, host [Ray Salmond](https://cointelegraph.com/authors/ray-salmond) speaks with Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence.
When asked whether Bitcoin’s pre- and post-halving price action could differ from previous cycles due to a change in global monetary policy, Coutts said:
> “I’ve been writing about this for most of the year. We do have some strong fundamentals in the space, but ultimately, what drives risk assets is liquidity. The longer that we have this tightening cycle, and if we start to see an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.”
- NFL Star Trevor Lawrence and Youtube Influencers Settle Allegations Over
**In a recent court document, Jaguars’ quarterback Trevor Lawrence and two others have chosen to settle allegations that they misled investors, leading to losses in the FTX collapse. Lawrence, among several high-profile endorsers of FTX, has not publicly revealed the terms of his settlement.**
## Jaguars’ Quarterback Trevor ‘Sunshine’ Lawrence to Settle FTX Endorsement Lawsuit
On Friday, Bloomberg’s Jef Feeley [revealed](https://www.bloomberg.com/news/articles/2023-09-15/jaguars-qb-trevor-lawrence-to-settle-ftx-endorsement-fraud-suit?srnd=cryptocurrencies-v2) that YouTube personalities Tom Nash and Kevin Paffrath, along with NFL star Trevor Lawrence, have settled allegations of misleading investors through their endorsement of the now-bankrupt crypto exchange, FTX. Lawrence, the quarterback for the Jaguars, joined FTX as a partner in April 2021.
By May 2021, Lawrence [announced intentions](https://news.bitcoin.com/no-1-nfl-draft-pick-trevor-lawrence-signing-bonus-cryptocurrencies/) to transform his entire signing bonus into cryptocurrency. That year, his bonus was a staggering $24 million. Lawrence expressed his excitement about collaborating with Blockfolio, an FTX subsidiary. FTX had previously acquired Blockfolio, a leading portfolio tracking app, in 2020 for a cool $150 million.
- Mark Cuban’s Crypto Wallet Hacked, $870,000 Lost
**Hackers have apparently compromised a wallet belonging to billionaire investor Mark Cuban, stealing a number of cryptocurrencies. The owner of the Dallas Mavericks NBA team, who confirmed the breach, has been able to transfer the remaining digital funds to U.S. crypto exchange Coinbase.**
## Mark Cuban’s Metamask Wallet Drained by Hackers
Cryptocurrency worth hundreds of thousands of U.S. dollars has been evidently stolen by hackers from a hot wallet owned by American entrepreneur Mark Cuban. The billionaire confirmed to crypto media he was the victim of an attack.
The suspicious movement of funds from the wallet, which had been inactive for 160 days, was first noticed by blockchain sleuth Wazz (X handle @WazzCrypto) on Friday.
- An argument for the @Starknet airdrop
An argument for the [@starknet ](https://twitter.com/Starknet)airdrop:
\- 9% tokens allocated to Community Provisions
\- 9% tokens allocated to Community Rebates
\- 8.1% tokens are "unallocated" Community Provisions: *"for those who performed work for Starknet"* Community Rebates: *"to cover the costs of onboarding to Starknet"* Unallocated Tokens: for the community & decided by the community" Why this could mean an airdrop: The first two token positions are allocated for different purposes.
But It's entirely possible that Starknet decides to change the usage of those. We are talking about 18%, there would be room for an airdrop.
- Magic Eden integrates Solana’s compressed NFTs into marketplace
NFT marketplace Magic Eden believes that lowering the costs in NFT production creates an “easy access point” for new users to try NFTs.
Nonfungible token (NFT) marketplace Magic Eden has announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning digital collectibles.
CNFTs differ from the usual Solana NFTs because their data is [compressed](https://solana.com/news/how-to-use-compressed-nfts-on-solana) and stored off-chain. Because of this, production in larger quantities is more feasible as they require lesser fees to mint.
According to Magic Eden, this type of NFT is ideal for creating mass-produced collections in various industries like gaming, music, events and the metaverse. The NFT marketplace believes that it allows creators to reach wider audiences without spending more.
The NFT marketplace also believes that by lowering the costs involved in NFT production, it can potentially promote adoption and become an “easy access point” for new people to try out collecting NFTs. With lower costs, users can collect NFTs without risking a large amount of funds to acquire collections. It lowers the risk of losing money over NFTs.
- What are address poisoning attacks in crypto and how to avoid them?
Address poisoning attacks involve tracking, misusing or compromising cryptocurrency addresses.
Address poisoning attacks are malicious tactics used by attackers who can reroute traffic, interrupt services, or obtain unauthorized access to sensitive data by inserting bogus data or changing routing tables. The integrity of data and network security are seriously threatened by these assaults, which take advantage of flaws in network protocols.
This article will explain what address poisoning attacks are, their types and consequences, and how to protect oneself against such attacks.
## Address poisoning attacks in crypto, explained
In the world of cryptocurrencies, hostile actions where attackers influence or deceive consumers by tampering with cryptocurrency addresses are referred to as [address poisoning attacks](https://cointelegraph.com/news/countering-address-poisoning-this-browser-extension-offers-users-protection).
On a blockchain network, these addresses, which are made up of distinct alphanumeric strings, serve as the source or destination of transactions. These attacks use a variety of methods to undermine the integrity and security of cryptographic wallets and transactions.
Address poisoning attacks in the crypto space are mostly used to either illegally acquire digital assets or impair the smooth operation of blockchain networks. These attacks may encompass:
- Coinbase Earned nullM Amid Hack, but Hasn't Reimbursed Victims
Coinbase received 570 ETH, the second-largest payout tied to MEV in Ethereum’s history, to process transactions related to the Curve exploit.
* The $73 million Curve exploit in July briefly pushed prices on the DeFi platform out of whack, and a trading bot paid 570 ETH to ensure it could take advantage of that once-in-a-lifetime arbitrage opportunity.
* The Ethereum validator that received that payment was apparently run by Coinbase, making it an unwitting beneficiary of the incident.
* Exploit victim Alchemix reached out to Coinbase to seek a refund for victims, but the crypto exchange has evidently not turned over the money.
- DJ 3LAU causes a stir after opting out of Friend.tech over regulatory risk
3LAU noted that the risks were high and that he has a “responsibility” to avoid regulatory gray areas.
Popular DJ and [crypto investor Justin Blau](https://cointelegraph.com/news/nft-music-marketplace-royal-raises-55m-in-series-a-round), better known by his stage name 3LAU, has caused a stir in the crypto community after suddenly opting out of the decentralized social media platform Friend.tech. Explaining the decision, the DJ highlighted concerns over the regulatory risks that the platform may pose.
In a Sept. 15 X ( formerly Twitter) thread, 3LAU revealed that he stepped away from Friend.tech after “understanding more of the risks.”
3LAU added that his main concern was around the automated market maker (AMM) that enables the trading of user keys (formerly known as shares) on the platform.
He suggested that such a feature on a social media platform sits in a regulatory gray area that [could cause issues](https://cointelegraph.com/news/sec-charges-company-behind-stoner-cats-nft-series-unregistered-securities-sale) for users down the track.
- Fed Official: Digital Dollar Decision Still a Long Way Off
**The Federal Reserve’s vice chair for supervision has affirmed that the U.S. central bank is “a long way” from making a decision on whether to issue a central bank digital currency (CBDC). The Fed official also voiced concerns regarding USD stablecoins, emphasizing that they “could pose significant risks to financial stability, monetary policy, and the U.S. payments system.”**
Fed Official on Digital Dollars and Stablecoins
The Vice Chair for Supervision of the Board of Governors of the Federal Reserve System, Michael Barr, talked about the Fed’s central bank digital currency progress on Friday at the Seventh Annual Fintech Conference hosted by the Federal Reserve Bank of Philadelphia.
“As the pace of innovation increases, the payments landscape continues to evolve with the emergence of new programmable payments platforms, including those built on distributed ledger technology and blockchain technology, and new forms of digital assets, such as cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs),” he said. “In my view, as both the issuer of U.S. currency and an operator in the payments system, the Federal Reserve must understand these developments and the tradeoffs they introduce.”
- Turkish Crypto Exchange Boss Gets 11,196 Years in Prison
**The CEO of collapsed Turkish crypto exchange Thodex has been sentenced to 11,196 years, 10 months, and 15 days in prison. He purportedly absconded with more than $2 billion in cryptocurrency belonging to more than 400,000 customers. The court found his crypto trading platform to be a criminal organization.**
Thodex Chief Sentenced to 11,196 Years in Prison
The CEO of collapsed Turkish cryptocurrency exchange Thodex, Faruk Fatih Özer, was reportedly sentenced to 11,196 years, 10 months and 15 days in prison on Thursday. AFP reported that prosecutors had requested a prison sentence of 40,562 years for the 29-year-old crypto exchange boss.
Özer was found guilty of various charges including fraud, leading a criminal organization, and money laundering. The court also found Thodex to be a criminal organization and that Özer acted with fraudulent intent from the beginning. In addition, Özer’s sister Serap and brother Guven were found guilty of the same charges.
- Riot Showcases Demand Response Strategy: Bitcoin Mining's Role in Strengthening Texas Energy Grid
**Bitcoin mining aided the Electric Reliability Council of Texas, or ERCOT, when the bitcoin mining company Riot Platforms reduced its power usage amid a Texas summer heatwave. Riot said in its most recent production and operations update that it received $31.7 million in power and demand response credits for August.**
Bitcoin Mining’s Win-Win: Riot Cuts Power, Boosts Texas Energy Stability
Politicians skeptical of bitcoin, like the Massachusetts Democrat Elizabeth Warren, might want to familiarize themselves with demand response systems and how bitcoin mining can enhance the efficiency of energy grids. Simply put, demand response is a tactic used in electricity grids that encourages users to decrease or adjust their power use during peak times in response to time-based rates or other financial incentives.
While it can be cost-efficient, only a handful of business operations can effectively implement significant demand response systems, and crypto mining might be the most optimal at shedding load. In a press release dated September 6, bitcoin mining company Riot Platforms reported it reduced its power use by 95% during peak electricity demand last month amid one of the summer’s harshest heatwaves. As a result, Riot received $31.7 million in power and demand response credits.
“August was a landmark month for Riot in showcasing the benefits of our unique power strategy,” the CEO of Riot, Jason Les said. “Riot achieved a new monthly record for power and demand response credits, totaling $31.7 million in August, which surpassed the total amount of all credits received in 2022.”
- Finding the new solution...
- Working hard
- New beginning....
- Learned about all the web3 lingo on @orbapp.lens app, and also got a NFT. Now I'm certified slang master 🧙\n\n#orb #orbapp #orbsbt
- Learned about basic fundamentals of Non-Fungible Token (NFT) on @orbapp.lens app, and also got a sick NFT 🤩\n\n#orb #orbapp #orbsbt
- Learned about basic fundamentals and mission of @orbapp.lens project, and got a sick NFT 🔥\n\n#orb #orbapp #orbsbt
- Learned about basic fundamentals and features of @LensProtocol on the @orbapp.lens app, and got a dope NFT 🌿\n\n#orb #orbapp #orbsbt
- Learned about basic fundamentals of crypto wallet on @orbapp.lens app, and got a sick NFT 🤯\n\n#orb #orbapp #orbsbt
- Learned about basic fundamentals of web3 on @orbapp.lens app, and got a dope NFT 😇
#orb #orbapp #orbsbt
- Lensprotocol Ecosystems.....
So fast, most active....
- VC Roundup: Web3 dev, EVM sharding and crypto banking headline blockchain funding deals
WWVentures, Shardeum, Myna Swap, Antic, Juno, Zerion and thirdweb attract venture capital interest in the latest funding blitz.
https://cointelegraph.com/news/vc-roundup-web3-dev-evm-sharding-and-crypto-banking-headline-blockchain-funding-deals
- i'm rich
i'm rich
- hi