3 July

“Charts showing stocks denominated in gold and Bitcoin in 2020 show that far from having their best quarter in ten years, markets had no “recovery” at all.

In January, the S&P 500 traded at around 0.45 BTC, with this decreasing until mid-March when a sudden spike to 0.5 BTC occurred. Thereafter, a drop below 0.3 BTC in May spelled the end of any real U-turn, with current levels circling 0.33 BTC.

The same is true for crude oil. Denominated in BTC, its recovery to 433,000 satoshis at press time from lows of 150,000 satoshis in April pales in comparison to its January price of 900,000 satoshis.

In my opinion there is no stock market recovery – it’s all inflation.”

See Also: Boomer and Gen-X Interest in Bitcoin Surges During Pandemic
See Also: Lebanese Pound Falls 50% in 10 Days — Now Worth 1 Satoshi
See Also: Bitcoin Startup Zap Is Working With Visa

“IRS-CI Cyber Crimes Unit challenged its “industry partners” to explain where the crypto tracing community stands on privacy coins, Layer 2 protocols, sidechains and the Schnorr signature algorithm in a June 30 Request for Information (RFI).

There are few investigative resources for tracing transactions that move across these privacy-enhancing vectors. The CI Cyber Crimes program is working to get in front of this trend.”

See Also: Sun Sets on Offshore Banking as Assets Worth $11 Trillion Uncovered
See Also: China Police Said to Detain Crypto OTC Traders Amid Money Laundering Crackdown

People can use the mainnet from July 7. From then on, holders of ADA, the platform’s native token, can move their funds to a wallet that supports the new upgrade. They’ll also be eligible for staking.

IOHK also announced the launch of Atala PRISM, a decentralized identity system. Atala PRISM will give people, including those without access to a bank account, “self-sovereign identities” with which they can access decentralized finance (DeFi) services. IOHK said that the technology is currently being piloted with the Ethiopian government.”

“In particular, there is big demand coming from hedge funds and more professional investors for our product, they want multi-millions of cover. As a result, we’ve hit our current capacity limits on the key yield-farming protocols such as Compound, Balancer and Curve.

Nexus is run as a mutual company by holders of the NXM token. They have set limits of $630,000 in coverage on each protocol. That amount is based on how much is on hand to pay out claims. The token is designed to recruit more capital when it’s needed, however, so they may be able to take on more policies soon.

Nexus Mutual provides a way to hedge against the risk posed by smart contracts, with policies that pay out against a failure in the underlying software of a DeFi product within a given time frame.”

“Total sales of blockchain-based non-fungible tokens (NFTs) have exceeded $100 million for the first time since their emergence in 2017.

Once considered trivial playthings, non-fungible tokens representing collectibles, artworks and virtual land parcels could grow into a trillion dollar industry.

“Everyone’s favorite way to use Ethereum applications now comes with a host of new features!

Perhaps the most obvious change to version 8 is a refreshed MetaMask UI. You can [also] control which accounts interact with different sites across the decentralized web.”

See Also: MetaMask Tips and Tricks (Video)
See Also: Omen Prediction Market Officially Launched

“Blockchain sleuths at ZenGo, a wallet startup, have found a vulnerability that affected at least three major competing crypto wallets – Ledger Live, Edge and Breadwallet (BRD) – and potentially more.

The bug, which the Tel Aviv-based firm calls BigSpender, allows a hacker to double-spend a user’s funds and possibly prevent them from ever using their wallet again. It works by exploiting how certain wallet’s handle Bitcoin’s replace-by-fee (RBF) function, a failsafe that enables users to swap an unconfirmed transaction with one that has a higher fee.

Ledger and BRD have released code changes to prevent the attack from happening, and paid undisclosed bug bounties to ZenGo.”

“While LBCOIN is technically a CBDC based on the NEM blockchain and issued by the central bank of Lithuania, the financial institution prefers to call it “the world’s first blockchain-based digital collector coin”.

Each token will feature a portrait of one of the 20 Lithuanian historical figures who signed the country’s declaration of independence in 1918. Collectors will be able to exchange them for a physical silver coin.

LBCOIN helps to gain practical hands-on experience in issuing a (kind of) retail Central Bank Digital Currency (CBDC) in a real environment.”

“Analysts from Flipside Crypto suggested that one possible reason for the swap is that Tron was paying a premium to keep Binance’s USDT on its blockchain, and this deal may have now come to an end.

Another possibility is that Binance, or one of its customers, wants to participate in yield farming using ERC-20 tokens.”