0xbt: August 2023

This Week in Coins: Bitcoin and Ethereum Prices Inch Upwards After PayPal Pitches Stablecoin

0x — Sat, 12 Aug 2023 15:07:00 +0000

The SEC this week did a lot of playing for time, but a new note on stablecoins by the Federal Reserve signaled a possible softening on crypto in Washington.

Original: https://decrypt.co/152271/this-week-in-coins-bitcoin-and-ethereum-prices-inch-upwards-after-paypal-pitches-stablecoin
By: Tim Hakki
Posted: August 12, 2023, 3:07 pm

A Bitcoin Warning Signal Blares From Surging Interest in Shiba Inu

0x — Sat, 12 Aug 2023 13:34:00 +0000

Original: https://www.coindesk.com/markets/2023/08/12/shiba-inu-open-interest-tops-100m-raises-red-flag-for-bitcoin/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Omkar Godbole
Posted: August 12, 2023, 1:34 pm

A Loan Is Still a Loan Even in DeFi

0x — Sat, 12 Aug 2023 10:00:00 +0000

What happens when you mix microfinancing, a motorbike company in Kenya, and decentralized lending? Lots of risk.

Original: https://decrypt.co/152189/loan-is-still-loan-even-defi
By: Liam J. Kelly
Posted: August 12, 2023, 10:00 am

Curve Finance vows to reimburse users after $62M hack

0x — Sat, 12 Aug 2023 08:57:00 +0000

The platform said it would assess each impacted user for reimbursement.

Decentralized finance (DeFi) platform Curve Finance has officially stated its intention to reimburse users impacted by the recent hack resulting in $62 million of losses.

According to an X (formerly Twitter) post from its official account, ongoing investigations are yielding progress, with approximately 79% of the funds successfully recovered. The platform also said it would assess each impacted user for reimbursement.

This assessment aims to ensure an equitable distribution of resources. The incident on July 30 involved malicious actors exploiting vulnerabilities within the release history of Curve Finance’s Vyper compiler.

Quick post-hack update.

While 70% of funds affected by the hack last week are recovered, active investigation with regards to the rest is underway.

In the meantime, we are also working on measuring the respective shares of each affected user with the goal of proper distribution

— Curve Finance (@CurveFinance) August 11, 2023

The individual behind the hack directed their attack at versions 0.2.15 to 0.3.0 of the Vyper compiler. Identifying the vulnerabilities demanded a significant degree of skill and substantial resources, as highlighted by experts in the field.

One contributor to Viper said the attack was likely planned for weeks before execution. Among the pools exploited were CRV/ETH, alETH/ETH, msETH/ETH and pETH/ETH. Furthermore, there is growing concern that the tri-crypto pool on Arbitrum might also have been exploited.

The attack rippled across the entire DeFi ecosystem. A comprehensive examination of the breach underscored an issue within the budding cryptocurrency sector: the absence of proper incentives to identify vulnerabilities in previous software iterations.

A 10% bounty was extended to the individual responsible for the hack, and upon acceptance, the perpetrator started to return the funds. According to Etherscan, at the time of writing, the total value of the funds returned amounted to 4,821 Ether (ETH) or $8,891,578.

Magazine: Should crypto projects ever negotiate with hackers? Probably

Original: https://cointelegraph.com/news/curve-finance-vows-to-reimburse-users-after-hack
By: Amaka Nwaokocha
Posted: August 12, 2023, 8:57 am

Custodia Bank Now Accepting US Dollar Deposits, Adding Bitcoin Custody

0x — Fri, 11 Aug 2023 20:50:00 +0000

“The bar is very high for banks to launch, and we cleared it," Custodia Bank CEO Caitlin Long told Decrypt.

Original: https://decrypt.co/152245/custodia-bank-now-accepting-us-dollar-deposits-adding-bitcoin-custody
By: Pedro Solimano
Posted: August 11, 2023, 8:50 pm

Is Friend.tech a Friend or Foe? A Dive Into the New Social App Driving Millions in Trading Volume

0x — Fri, 11 Aug 2023 19:56:00 +0000

The new social app has driven over 4,400 ETH ($8.1 million) in trading volume in less than 24 hours since its launch, far surpassing OpenSea’s in the same time frame. But with its mysterious origins, lack of privacy policy and lagging network, it raises some red flags.

Original: https://www.coindesk.com/web3/2023/08/11/is-friendtech-a-friend-or-foe-a-dive-into-the-new-social-app-driving-millions-in-trading-volume/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Cam Thompson
Posted: August 11, 2023, 7:56 pm

This Grand Theft Auto 5 Mod Lets AI NPCs Insult You

0x — Fri, 11 Aug 2023 19:06:00 +0000

Rockstar's open-world smash gains new life via AI—and the NPCs really have a mind of their own, with one ranting about a "divine AI god."

Original: https://decrypt.co/152196/grand-theft-auto-5-mod-lets-ai-npcs-insult-you
By: Kate Irwin
Posted: August 11, 2023, 7:06 pm

PayPal’s Stablecoin Is No Libra. Why the Timing Feels Right

0x — Fri, 11 Aug 2023 18:58:00 +0000

Like Facebook's ill-fated Libra project, PYUSD is getting some pushback in Washington D.C. But its prospects seem more promising, says Michael J. Casey.

Original: https://www.coindesk.com/consensus-magazine/2023/08/11/paypals-stablecoin-is-no-libra-why-the-timing-feels-right/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Michael J. Casey
Posted: August 11, 2023, 6:58 pm

Are You Not Entertained? Elon Musk Says Fight With Zuck Will Be Livestreamed via Twitter, Meta

0x — Fri, 11 Aug 2023 18:48:00 +0000

Elon Musk suggests the clash of the tech titans will happen in "an epic location" in Italy—though he may need surgery first.

Original: https://decrypt.co/152212/are-you-not-entertained-elon-musk-says-fight-zuck-livestreamed-twitter-meta
By: Andrew Hayward
Posted: August 11, 2023, 6:48 pm

There’s More Evidence ChatGPT Is a Good Doctor But a Bad Coder

0x — Fri, 11 Aug 2023 17:13:00 +0000

Two research papers evaluating ChatGPT's accuracy conclude that the AI chatbot seems to be better at writing prescriptions than writing code.

Original: https://decrypt.co/152107/chatgpt-good-doctor-bad-coder
By: Jose Antonio Lanz
Posted: August 11, 2023, 5:13 pm

'Parallel' Puts an Epic Sci-Fi Spin on Complex NFT Card Battles

0x — Fri, 11 Aug 2023 16:02:00 +0000

PREVIEW: Parallel is a competitive trading card game with NFTs—for fans of the genre and space operas alike. We go hands-on with the beta.

Original: https://decrypt.co/152075/parallel-puts-epic-sci-fi-spin-complex-nft-card-battles-preview
By: Kate Irwin
Posted: August 11, 2023, 4:02 pm

Parallel TCG: Inside the Sci-Fi Card Game’s Closed Beta

0x — Fri, 11 Aug 2023 15:27:00 +0000

Decrypt's Kate Irwin goes hands-on with Parallel’s closed beta on Windows PC to find out what sets it apart from other crypto card-battlers.

Original: https://decrypt.co/videos/explainers/q8YVWJh4/parallel-tcg-inside-the-sci-fi-card-games-closed-beta
By:
Posted: August 11, 2023, 3:27 pm

First Mover Asia: Bitcoin Is CPI Resistant

0x — Fri, 11 Aug 2023 15:22:00 +0000

Modest Consumer Price Index (CPI) numbers mean that the chance of another rate hike is dwindling.

Original: https://www.coindesk.com/markets/2023/08/11/first-mover-asia-bitcoin-is-cpi-resistant/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Sam Reynolds
Posted: August 11, 2023, 3:22 pm

Visa Trials Ethereum Gas Fee Payments Using Cards

0x — Fri, 11 Aug 2023 15:13:00 +0000

Global payment technology giant Visa has successfully completed a test that enables users to pay Ethereum gas fees using credit or debit cards.

Original: https://decrypt.co/152178/visa-trials-ethereum-gas-fee-payments-using-cards
By: Andrew Asmakov
Posted: August 11, 2023, 3:13 pm

XRP's Market Cap Momentarily Zoomed to Trillions of Dollars on Gemini

0x — Fri, 11 Aug 2023 14:45:00 +0000

Low liquidity after the token’s relisting likely caused a temporary pricing glitch on the exchange.

Original: https://www.coindesk.com/markets/2023/08/11/xrps-market-cap-momentarily-zoomed-to-trillions-of-dollars-on-gemini/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Shaurya Malwa
Posted: August 11, 2023, 2:45 pm