Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts

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BAM has been unable to credibly explain its own relationship with Ceffu, including the extent to which it is owned and controlled by Binance or Zhao. And whether the entity involved is Binance, Ceffu, or another Binance Entity, Stephen Kimber is the Halifax, Nova Scotia author who ghost-wrote Bitcoin Widow. He talks to CBC Nova Scotia about the process. [ CBC]

Adam Levitin and Wassielawyer talked to Laura Shin’s “Unchained” podcast about the 3AC liquidation and the Celsius and Voyager bankruptcies. They both expect these bankruptcies to go on for a long, long time. [ Unchained] Terraform, UST and luna The case is Tulip Trading Ltd v Bitcoin Association for BSV & Ors (Rev 1) [2022] EWHC 141 (Ch). Yes, Wright called his company “Tulip Trading.” [ Civil Litigation Brief ; BAILII]

That is: the open letter is the same small group of tech funders. They want to get you worrying about sci-fi scenarios and not about the socially damaging effects of their AI-based businesses. Russell Wong at the Federal Reserve Bank of Richmond, Virginia, wrote up how UST and luna worked. He says that Anchor was not technically a Ponzi: “Anchor’s deposit is more like an MMMF [ money market mutual fund] with a huge sign-up bonus, courtesy of its private investors.” [ Richmond Fed] Sharp price swings in cryptocurrencies are causing “destabilising” capital flows in emerging markets, and the use of crypto in place of traditional currencies poses “immediate and acute risks”, according to Tobias Adrian at the IMF. [ FT , paywalled] David’s upcoming book Cyberlibertarianism is his magnum opus, years in the planning and construction. I think The Politics Of Bitcoin started as a section of it. Namecoin made a new cryptocurrency by copying the bitcoin code and tweaking some parameters. Others realised they could do the same, and many created their own magical internet money. These “altcoins” became increasingly popular.

Meanwhile, Binance.US is bleeding staff. It’s fired another 100 people — a third of its workforce. CEO Brian Shroder has quit and Chief Legal Officer Norman Reed has stepped in as interim CEO. Krishna Juvvadi, head of legal, and Sidney Majalya, chief risk officer, are also jumping ship. [ Bloomberg , archive ; WSJ , archive]In 2021, cryptocurrency exchanges located in San Francisco filed more Suspicious Activity Reports than all securities firms and casinos combined. [ Securities Analytics] But also, Sam just can’t shut up. He was shooting his mouth off as fast as possible in his criminal confessions tour through November and December 2022, between FTX declaring bankruptcy and his arrest. He just wants to explain. Artificial intelligence” has always been a science fiction dream. It’s the promise of your plastic pal who’s fun to be with — especially when he’s your unpaid employee. That’s the hype to lure in the money men, and that’s what we’re seeing play out now. Bloomberg update on the status of cryptocurrency in Russia: The central bank can see what a pile of toxic waste this crypto garbage is — though a CBDC might be useful — the finance ministry sees tax revenue, and the big guys see only the money. And we wait on the verdict of the one man with the one vote. Also quoted: TON Labs, maintainers of Free TON — the last vestige of the Telegram ICO! [ Bloomberg]