Mallucryptologist

Vitalik Buterin's "Glue and Coprocessor" Model: A New Era for Computation? Ethereum co-founder Vitalik Buterin proposes a "glue and coprocessor" architecture. This model separates general-purpose tasks from intensive operations handled by specialized "coprocessors." Buterin cites the Ethereum Virtual Machine (EVM) as an example, where modules efficiently manage storage and cryptography. This approach could benefit AI, enabling flexible languages like Python to handle high-level logic while optimized code on GPUs or ASICs manages heavy computation. Cryptoslate

Bitcoin Suffers $319 Million Outflow as US Economy Strength Buoys Fed Crypto investment products saw a $305 million outflow last week, with Bitcoin accounting for $319 million of the loss. CoinShares attributes this to strong US economic data, which reduced the likelihood of a Fed rate cut, making Bitcoin more sensitive to interest rate expectations. While Bitcoin faced losses, short Bitcoin investment products attracted $4.4 million in inflows for the second week running, their largest inflows since March. Cryptoslate

Metaplanet Partners with SBI for Bitcoin Custody & Trading in Japan Metaplanet, a Bitcoin investment firm, has partnered with SBI VC Trade, a subsidiary of SBI, to enhance its Bitcoin custody and trading services. This collaboration leverages SBI's compliant custody solutions and tax-efficient services, allowing Metaplanet to use Bitcoin as collateral for financing. This partnership positions Metaplanet as a modern financial services provider with an aggressive Bitcoin investment strategy, earning it the nickname "Asia's MicroStrategy." Cryptoslate

Cardano's Chang Hard Fork: A Decentralized Revolution Dwarfs Bitcoin? Cardano has completed the first phase of its Chang hard fork, enabling a token-based governance system. This milestone, described as monumental by founder Charles Hoskinson, positions Cardano ahead of Bitcoin in terms of governance. The upgrade marks a significant step towards full decentralization, transforming Cardano into a self-governing entity with no precedent in the blockchain space. Cryptoslate

Crypto Phishing Steals $293 Million in August, Second Highest Monthly Total Crypto projects suffered a staggering $300.6 million in losses due to exploits, hacks, and scams in August, according to blockchain security firm CertiK. While $10.3 million was recovered or returned, phishing incidents accounted for the lion's share of the losses, reaching a staggering $293 million. This makes August the second-highest month for crypto losses in 2024. Cryptoslate

Dollar's Fate This Week: Key for Bitcoin's Future Bitcoin tumbled over 10% last week as the dollar index's decline paused. This week's U.S. economic data releases, including the ISM manufacturing PMI, non-farm payrolls, and inflation data, will impact the dollar's trajectory and potentially Bitcoin. A weaker dollar could boost cryptocurrencies and other risk assets. Coindesk

Bitcoin Slumps Below $57,500, Extends Weekly Losses Amidst Labor Day Weekend Bitcoin (BTC) plunged to near $57,500 on Monday, shedding over 10% in a week. The broader crypto market followed suit, with Solana (SOL), Binance Coin (BNB), XRP, and Cardano (ADA) declining up to 3%. Dogecoin (DOGE) led losses with a 5% drop, while the CoinDesk 20 Index (CD20) fell 1.88%. The decline coincided with the U.S. Labor Day holiday, often associated with lower market activity. Coindesk

Ethereum Foundation Funds 98 Projects with $8.5 Million in Q2 Grants The Ethereum Foundation Ecosystem Support Program (EFESP) has allocated $8.5 million to 98 projects in Q2. The largest category funded was "Community & Education" with 41 projects, followed by "Cryptography & zero-knowledge proofs" with 28. Projects focus on community building, education, cryptography, developer tooling, and research. While the report details the projects by type and recipient, it does not disclose the specific amount awarded to each project. Cryptoslate

TRON DAO Takes Center Stage at WebX 2024, Justin Sun Delivers Keynote Justin Sun, founder of TRON DAO, delivered a keynote speech at WebX 2024, a major Web3 conference in Geneva, Switzerland. As the event's Title Sponsor, TRON DAO highlighted its commitment to building diverse and empowering ecosystems within the blockchain space. The conference, organized by CoinPost, brought together industry leaders, investors, and government officials for discussions and networking opportunities. Cryptoslate

Trump's Crypto Support Fuels 12-Point Lead Over Harris: FDU Poll A Fairleigh Dickinson University poll finds former President Donald Trump leading Vice President Kamala Harris by 12 points among likely voters who own crypto. 15% of US voters own digital assets, with men, younger voters, and minorities being more likely to own them. While Republicans are slightly more likely than Democrats to own crypto, the poll suggests this doesn't fully explain the 24-point difference in presidential support between crypto owners and non-owners. Cryptoslate

USDC Surpasses $16 Trillion in Volume, Solana Fuels Growth Circle's USDC stablecoin surpasses $16 trillion in cumulative volume, driven by Solana's popularity. This highlights the increasing role of stablecoins in global finance. USDC, the second-largest by market cap, has achieved this despite a smaller circulating supply than USDT. Circle's focus on regulatory compliance has solidified USDC's dominance in transactions, making it a key player in the crypto ecosystem. Cryptoslate

Bitcoin Drops to $58K, but Next Week Could Bring Upside Bitcoin is sliding back to $58,000, down 4.4% in the past 24 hours, as August continues to be a rough month for crypto. Despite the recent dip, the market could see upside excitement next week. Bitcoin is outperforming the broader market, with other coins like Solana (SOL) suffering a 9% decline. Coindesk

Threshold Network to Acquire BitGo's WBTC for Decentralized Custody Threshold Network is acquiring BitGo's Wrapped Bitcoin (WBTC) for $36.4 million in T tokens, transitioning WBTC to a decentralized model. This merger with Threshold's tBTC Bitcoin bridge will create a $9 billion entity with wider adoption and permissionless bridging. The proposal includes minting additional T tokens for BitGo, making them the largest stakeholder in Threshold Network while preserving the bridge's decentralized nature. Cryptoslate

Solo Bitcoin Miner Strikes Gold with $200,000 Block Reward Amid Centralization Fears A solo Bitcoin miner, using the ckpool and 38PH of mining power, earned $200,000 by solving the 291st solo block. This rare feat highlights the potential for individual miners to succeed despite growing centralization in the Bitcoin mining landscape. The miner, identified as 36AisvWi1UiwLTeTZxLzindAkorqeUc3tT, achieved this at a time when concerns about large mining pools dominating the network are rising. Cryptoslate

SEC Calls for Better Data for Retail Investors: Is Chainlink the Missing Link? The SEC seeks timely access to fund portfolio data for 70 million households. This could be facilitated by blockchain oracles like Chainlink, which provide real-time, tamper-proof data feeds. Chainlink, used in DeFi applications, connects blockchains with external data sources, bridging the gap between on-chain and off-chain information. Cryptoslate

Crypto Liquidity Improves Post-ETFs, But Still Struggles with Volatility Despite US Bitcoin and Ethereum spot ETF launches boosting crypto liquidity, Kaiko warns the market lacks depth to handle volatility. While trading volume has surged since FTX, it's not a reliable indicator of true liquidity. Kaiko analysts highlight the importance of market depth, which measures the ability to absorb large orders without price impact. The report cautions that trading volume, especially when influenced by incentives and wash trading, can be misleading. Cryptoslate

Bitcoin Slumps Below $59K as Demand Fades, ETFs See Outflows Bitcoin (BTC) has fallen below $59,000, continuing its downward trend after last week's rally. This decline comes amidst signs of waning demand, with U.S.-listed BTC ETFs recording $71 million in net outflows for the third consecutive day, suggesting professional funds are exiting the market. Bitcoin's weekly losses now exceed 3.5%, putting it on track for an 8% drop in August. Coindesk

Ethereum ETFs Buck Trend with Positive Flows After 9-Day Slump US Ethereum spot ETFs saw a surprising $5.9 million inflow on August 28, reversing nine days of outflows. This follows the launch of the first US spot Ether ETFs on July 23. Grayscale Ethereum Trust saw its smallest outflow since then at $3.8 million, while BlackRock's iShares Ethereum Trust attracted $8 million in inflows. This trend suggests renewed interest in ETH investments despite recent market uncertainty. Cryptoslate

Trump's NFT Sales Slow Down, But Still Generate $2 Million Despite Restrictions Former President Trump's fourth NFT collection has generated over $2 million in sales despite a slow start. The collection, consisting of 360,000 trading cards priced at $99 each, has seen only 6% sold within 24 hours of launch. The NFTs cannot be traded on secondary markets until January 31, 2025, limiting their immediate resale value. If the collection eventually sells out, it could generate $36 million in revenue. Cryptoslate

Bitcoin Stumbles at $61,000, Losing Momentum After Brief Rally Bitcoin's price has retreated to $59,200 after failing to break through the key $61,000 resistance level. The flagship cryptocurrency erased almost all of its 3.2% gains from the past day within an hour, falling to a low of $58,866. While Bitcoin remains up 0.6% over the past 24 hours, the wider crypto market saw more substantial losses. This dip follows a brief rally earlier this week, suggesting a potential shift in market sentiment. Cryptoslate