9/20/23: Is Ledger Building A Back Door? 🔐🎓⛏️

Author

Valko
September 20, 2023

Today’s Top Stories ⌐◪-◪

  • 🔐 Ledger Recover is scheduled to launch later this year

  • 🎓 Stanford University to return over $5.5M in “gifts” from FTX

  • ⛏️ Coinbase limits Zcash trading as miner captures 50% hash rate

Disputed Ledger Recover Feature Still on Track for 2023 Launch

Despite heavy customer backlash, Ledger pushes forward with its controversial Recover feature, aimed at helping users recover private keys.

⌐◪-◪ → Ledger Recover has seen massive backlash from crypto-natives. Many fear it will help the governemnt 1) wrongfully surveil everyday citizens and 2) easily subpoena users to access their funds. This is not crypto, it’s just TradFi with extra steps.

Stanford University Will Return 'Gifts' Donated by FTX

FTX sued Joshua Bankman and Barbara Fried for misappropriating millions, including $5.5 million in donations to Stanford University.

⌐◪-◪ → Everything FTX related seems to be escalating ahead of SBF’s trial next month. It looks like Stanford is taking a stand for integrity and distancing itself from the Bankman-Fried family. Don’t be surprised if SBF’s parents suddeny “resign” from Stanford.

Coinbase limits Zcash trading as ViaBTC poses risks of 51% attack

Coinbase changed the Zcash confirmation requirement to 110 blocks, increasing deposit time from 40 minutes to 2.5 hours

⌐◪-◪ → This is a major centralization bottleneck that threatens all blockchains. Even the Ethereum community is worried about a 51% attack given the staking power that Lido Finance has accumulated over the last year. I call this “centralized decentralization”.

Peripheral Vision ⌐◪-◪

⛓️ DeFi & Crypto

  • Arbitrum DAO approves $42M grant program for DeFi builders

  • Balancer frontend hit by DNS attack, over $250k stolen

  • GammaSwap expands to Arbitrum network

  • Aptos Labs announces integration with Coinbase Pay

  • Pyth Network announces Perseus upgrade, to reduce gas costs

🏦 Wallstreet

🏛️ Legal & Regulatory

🌎 Rest of the World

  • UK Lawmakers pass online safety bill that will apply to the metaverse

  • South Koreans declare overseas crypto holdings worth $98.5B

  • Hong Kong sees JPEX backlash for arresting social media influencer

  • North Korean hackers love Russsian exchanges for money laundering

🖼️ NFTs

  • Justin Blau, aka 3LAU, leaves Friend Tech over regulatory concerns

  • Microsoft leak hints at crypto wallet support for new Xbox systems

  • American Express currently offers “digital collectibles”

  • Ape DAO buyback at 50:50 vote, could swing either way

  • MLB to host first game in the metaverse powered by Improbableio

  • Walmart plans to expand its commercial strategy in the metaverse

  • Bitcoin gets its own version of the popular Friend Tech app

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