Bitcoin's Resilience: Unyielding Against Central Authority Control
🤔💭Will there be a company that could pose a threat to Bitcoin now?
📲 Follow for more content!
Credit: Swan Bitcoin
Michael Saylor emphasizes that regardless of the nodes people use, whether from other countries or not, they all operate under one monetary protocol
🤔💭Do you agree with him?
📲 Follow for more content!
Credit: Swan Bitcoin
🤔💭Do you agree with him?
📲 Follow for more content!
Credit: Swan Bitcoin
Two brothers who studied at one of the most prestigious universities in the US have been charged with stealing $25m (£20m) in cryptocurrency in 12 seconds
Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, are accused of wire fraud and money laundering
The US Department of Justice said the alleged heist is the first of its kind
Prosecutors also say the pair, reportedly educated at the Massachusetts Institute of Technology (MIT), carried it out in April 2023
"The Peraire-Bueno brothers stole $25 million in Ethereum cryptocurrency through a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds," said Deputy Attorney General Lisa Monaco
She added that agents from the Internal Revenue Service (IRS) played a key role in unravelling the "first-of-its kind wire fraud and money laundering scheme"
Prosecutors allege the two used highly specialised skills that they learned at "one of the most prestigious universities in the world" to exploit Ethereum's process for validating transactions
The brothers studied mathematics and computer science, according to the indictments, and both attended MIT, according to news reports
"The defendants' scheme calls the very integrity of the blockchain into question," US Attorney Damian Williams said in a statement on Wednesday, referring to the public ledger that records crypto payments
The brothers allegedly stole from Ethereum traders by fraudulently gaining access to pending private transactions and then altering the transactions to obtain their victims' cryptocurrency
The process, which investigators say they referred to as "the Exploit", took only a matter of seconds to execute
When confronted by a representative for Ethereum, officials say the brothers declined to return the funds and took steps to launder and hide their stolen gains
Prosecutors note that this is the first time that such a "novel" form of fraud has ever been subject to criminal charges
They each face over 20 years in prison if found guilty
Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, are accused of wire fraud and money laundering
The US Department of Justice said the alleged heist is the first of its kind
Prosecutors also say the pair, reportedly educated at the Massachusetts Institute of Technology (MIT), carried it out in April 2023
"The Peraire-Bueno brothers stole $25 million in Ethereum cryptocurrency through a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds," said Deputy Attorney General Lisa Monaco
She added that agents from the Internal Revenue Service (IRS) played a key role in unravelling the "first-of-its kind wire fraud and money laundering scheme"
Prosecutors allege the two used highly specialised skills that they learned at "one of the most prestigious universities in the world" to exploit Ethereum's process for validating transactions
The brothers studied mathematics and computer science, according to the indictments, and both attended MIT, according to news reports
"The defendants' scheme calls the very integrity of the blockchain into question," US Attorney Damian Williams said in a statement on Wednesday, referring to the public ledger that records crypto payments
The brothers allegedly stole from Ethereum traders by fraudulently gaining access to pending private transactions and then altering the transactions to obtain their victims' cryptocurrency
The process, which investigators say they referred to as "the Exploit", took only a matter of seconds to execute
When confronted by a representative for Ethereum, officials say the brothers declined to return the funds and took steps to launder and hide their stolen gains
Prosecutors note that this is the first time that such a "novel" form of fraud has ever been subject to criminal charges
They each face over 20 years in prison if found guilty
The Inevitable Descent: Prices and the Marginal Cost of Production
🤔💭Do you agree with him?
📲 Follow for more content!
Credit: Luke Broyles
🤔💭Do you agree with him?
📲 Follow for more content!
Credit: Luke Broyles
Sam Altman on the Intelligence Level of Current AI Compared to the Next 5 or 10 Years’ AI
🤔💭How do you envision the future development of AI capabilities?
📲 Follow for more content!
Credit: Bill Gates
🤔💭How do you envision the future development of AI capabilities?
📲 Follow for more content!
Credit: Bill Gates
Bitcoin Drawing Financial Companies with Store of Value and Investment Potentials
🤔💭What are your thoughts on this?
📲 Follow for more content!
Credit: CNBC Television
🤔💭What are your thoughts on this?
📲 Follow for more content!
Credit: CNBC Television
Unveiling the Complexity of Creating New Blocks in Bitcoin
🤔💭Do you agree with him?
📲 Follow for more content!
Credit: Swan Bitcoin
🤔💭Do you agree with him?
📲 Follow for more content!
Credit: Swan Bitcoin
Microsoft could be fined up to 1% of its annual revenue in the European Union if it doesn’t respond to a request for information by May 27
The threat stems from a request made under the EU’s Digital Services Act concerning the company’s Bing search engine and its associated generative artificial intelligence (AI) services
In a May 17 X post, the European Commission stated it wants Microsoft to “provide information under the Digital Services Act on generative AI risks on Bing ”
“Bing may pose risks linked to generative AI, such as so-called ‘hallucinations’, deepfakes, as well as the automated manipulation of services that can mislead voters ”
In a linked blog entry from the European Commission’s official website labeled “Daily News,” the commission explained that the initial request was sent on May 14 “regarding specific risks stemming from Bing’s generative AI features, notably “Copilot in Bing” and “Image Creator by Designer ”
The blog post went on to explain that Microsoft “now has until 27 May to provide the requested information to the Commission ”
This warning comes with a notice that the Commission “may impose fines up to 1% of the provider’s total annual income,” as well as “periodic penalties up to 5% of the provider’s average daily income” if the EU’s request isn’t met by the deadline
While a 1% revenue fine might not sound like a crushing blow, in Microsoft’s case, that could amount to well over $2 billion Its self-reported revenue for 2023 was $211 billion, and if the current market trend remains steady, it’s conceivable that Microsoft could blow past that in 2024 At these numbers, if fined, it would be around $2 1 billion
However, Microsoft hasn’t been found guilty of violating any EU laws — at least not specifically pertaining to this notice Instead, this appears to be more of a public-facing courtesy notice that the company has effectively been serviced with a request for further information that bears consequences if ignored
Cointelegraph reached out to Microsoft for comment but did not receive a response
The threat stems from a request made under the EU’s Digital Services Act concerning the company’s Bing search engine and its associated generative artificial intelligence (AI) services
In a May 17 X post, the European Commission stated it wants Microsoft to “provide information under the Digital Services Act on generative AI risks on Bing ”
“Bing may pose risks linked to generative AI, such as so-called ‘hallucinations’, deepfakes, as well as the automated manipulation of services that can mislead voters ”
In a linked blog entry from the European Commission’s official website labeled “Daily News,” the commission explained that the initial request was sent on May 14 “regarding specific risks stemming from Bing’s generative AI features, notably “Copilot in Bing” and “Image Creator by Designer ”
The blog post went on to explain that Microsoft “now has until 27 May to provide the requested information to the Commission ”
This warning comes with a notice that the Commission “may impose fines up to 1% of the provider’s total annual income,” as well as “periodic penalties up to 5% of the provider’s average daily income” if the EU’s request isn’t met by the deadline
While a 1% revenue fine might not sound like a crushing blow, in Microsoft’s case, that could amount to well over $2 billion Its self-reported revenue for 2023 was $211 billion, and if the current market trend remains steady, it’s conceivable that Microsoft could blow past that in 2024 At these numbers, if fined, it would be around $2 1 billion
However, Microsoft hasn’t been found guilty of violating any EU laws — at least not specifically pertaining to this notice Instead, this appears to be more of a public-facing courtesy notice that the company has effectively been serviced with a request for further information that bears consequences if ignored
Cointelegraph reached out to Microsoft for comment but did not receive a response
Simplicity in Scarcity: Bitcoin's Finite 21 Million Monetary Protocol
🤔💭What are your thoughts on this?
📲 Follow for more content!
Credit: Swan Bitcoin
🤔💭What are your thoughts on this?
📲 Follow for more content!
Credit: Swan Bitcoin
Bitcoin rose above $71,000 during the European morning after analysts saw the possibility of an ether ETF being approved in the U S improving BTC has climbed nearly 6% in the last 24 hours, eclipsing $71,000 for the first time since early April The CoinDesk 20 Index (CD20), which offers a broad measurement of the digital asset market, rose more than 8 5% while ETH jumped almost 20% to over $3,700 The market movements caused more than $260 million in short liquidations, the most since Feb 28 Ether shorts lost over $115 million, followed by bitcoin shorts at just over $99 million, Coinglass data shows
ETH has been buoyed by favorable regulatory developments that seem to indicate increasing chances of spot ether ETFs being approved by the SEC after the regulator asked exchanges to update 19b-4 filings, which propose rule changes As a result, the ether implied volatility curve, which shows market expectations of future volatility across different strike prices and expirations, flattened as 25-delta risk reversals hit year-to-date highs above 18%, and traders heavily bought $4,000 calls for 24 May and 31 May, Presto Research analysts wrote A Polymarket contract asking if an ether ETF would be approved by May 31 jumped from 10 cents to 55 cents, representing a 55% chance that approval will take place by then
Meme coins on the Ethereum ecosystem like MOG and PEPE surged on the increasing likelihood of ether ETFs being approved Meme tokens are often seen as a leveraged way to bet on the growth of their underlying blockchain MOG rose nearly 50% while PEPE climbed over 20% “Established memes are generally high beta for the native token of the chain they’re on, and Mog has established itself as a winner on Ethereum,” Viro, a Mog core team member, said in an interview over Telegram “I think the market sees that there’s quite a lot of room to catch up to Pepe, and that’s why you see the outperformance If you think memes are good beta; you’ll go for the higher caps like pepe or you’ll slide further down the curve for mog ”
ETH has been buoyed by favorable regulatory developments that seem to indicate increasing chances of spot ether ETFs being approved by the SEC after the regulator asked exchanges to update 19b-4 filings, which propose rule changes As a result, the ether implied volatility curve, which shows market expectations of future volatility across different strike prices and expirations, flattened as 25-delta risk reversals hit year-to-date highs above 18%, and traders heavily bought $4,000 calls for 24 May and 31 May, Presto Research analysts wrote A Polymarket contract asking if an ether ETF would be approved by May 31 jumped from 10 cents to 55 cents, representing a 55% chance that approval will take place by then
Meme coins on the Ethereum ecosystem like MOG and PEPE surged on the increasing likelihood of ether ETFs being approved Meme tokens are often seen as a leveraged way to bet on the growth of their underlying blockchain MOG rose nearly 50% while PEPE climbed over 20% “Established memes are generally high beta for the native token of the chain they’re on, and Mog has established itself as a winner on Ethereum,” Viro, a Mog core team member, said in an interview over Telegram “I think the market sees that there’s quite a lot of room to catch up to Pepe, and that’s why you see the outperformance If you think memes are good beta; you’ll go for the higher caps like pepe or you’ll slide further down the curve for mog ”
中文
فارسی
हिन्दी
Indonesia
한국어
Polski
Pilipino
Русский
Türkçe
Український
English