A 17 Year Old Was Just Arrested in Connection With Twitter’s Recent Hack

Authorities have taken a teen into custody, believing him to be the brains behind the recent Twitter breach. Authorities have taken a 17-year old into custody, claiming the not-yet-adult as the brains behind the recent massive Twitter breach.  “Early this morning, the FBI, IRS, US Secret Service, and Florida law enforcement placed a 17-year-old in Tampa, Florida, under arrest — accusing him of being the ‘mastermind’ behind the biggest security and privacy breach in Twitter’s history,” a July 31 article from The Verge said. The massive exploit saw many top…

DeFi User Base Needs to Be More Decentralized, Says Former ConsenSys Exec

At a Kraken-hosted webinar titled “DeFi-ing expectations: the future of Ethereum,” panelists discussed the rise of decentralized finance, its defining features and how to measure its success. The webinar was held on July 31 and featured known DeFi influencers Anthony Sassano, co-founder of EthHub.io, Ryan Sean Adams, founder of Mythos Capital, Andrew Keys, managing partner at Darma Capital and former ConsenSys executive, and William Mougayar, an early Ethereum investor and former advisor to the Ethereum Foundation. Pete Rizzo, editor-at-large at Kraken, moderated the panel, often asking somewhat provocative questions about…

Decentralized Exchange Bancor Officially Launches Upgraded V2 Platform

The Bancor project has launched a heavily upgraded version of its decentralized exchange, promising to solve what it calls “DeFi’s dirty little secret.” According to a blog post released on Friday, the contracts have been deployed to mainnet in a beta launch mode. Each pool will have its liquidity capped to $1 million until a “pool manager” permanently removes the limitation when it is confirmed safe. As Cointelegraph previously reported, the exchange mitigates the issue of impermanent loss, where liquidity providers could lose some of their money as prices for…

Chainlink Partners With State of Colorado to Help Create A New Lottery Game

Chainlink (LINK) and the State of Colorado have partnered on a hackathon with the goal of creating a new lottery game. There are $17,500 in prizes available for three winners, plus an additional $8,500 in Web3 bonus prizes sponsored by Chainlink. $1 billion revenue goal for Colorado Lottery The Colorado Lottery has created a GameJam Hackathon that is open to participants from around the world. The state lottery hopes that the new innovative games will help it “reach its $1 billion revenue goal to fund outdoor recreation, land conservation and…

Blockchain Could Help Content Generation Industry Be More Profitable

Chinese content generation platform TikTok, a video-sharing app that has been called the fastest-growing social networking service in history, has been in the spotlight since early 2019 and now surpasses 800 million users. Despite the fact that the app’s data security breaches are raising controversy worldwide, more and more young people are using it as the go-to social media for the new generation, with a reported 69% of TikTok’s global audience being between the ages of 16 and 24. Despite its overwhelming success and rapidly growing user base, the truth…

Bitcoin Price Climbs to $11,200, But Three Factors Hint at a Pullback

The price of Bitcoin (BTC) has increased from $10,995 to over $10,200 in the past 12 hours. But while the momentum of BTC also pushed up the price of other top cryptocurrencies, including Ether (ETH), key metrics and technical patterns suggest the chances of a pullback are rising.  Cryptocurrency market snapshot July 31. Source: Coin360 Three factors that hint at a drop are the fear and greed index, a potential Wyckoff pattern and major resistance. The crypto market sentiment is at “greed,” data shows According to data from Alternative.me’s Crypto…

Dai Supply Hits New Highs as Efforts to Restore Peg See Limited Success

The MakerDAO community approved and executed a vote on Thursday to almost double the total debt ceiling, which indicates how much Dai (DAI) can be minted by its users. An announcement by the Maker Foundation posted on July 29 details the specific proposal to raise the debt ceilings for Ether (ETH), USD Coin (USDC), Wrapped Bitcoin (WBTC) and others. The vote passed at 8 a.m. UTC on July 30 and was executed at 10 p.m. UTC on the same day. Specifically, the proposal raised the debt ceiling for ETH by…

Tech’s Antitrust Issues Flare Up on Both Sides of the New ‘Cold War,’ Report

Days after the CEOs of the world’s top tech firms faced antitrust hearings in the United States Congress, sources are alleging that Beijing too could soon probe its own digital monopolies.  A Reuters report published on July 31 cites anonymous sources who claim the People’s Bank of China has formally recommended that the State Council’s antitrust committee launch a probe into the activities of digital payments titans Alipay and WeChat Pay. The central bank has allegedly argued that both have used their ascendant position to stifle any possible competition in…

Noncustodial Technology and Security Is the Inevitable Future

In an increasingly digital world, security is a high-stakes game. The identities of customers along with their privacy and financial information are all in the hands of centralized security systems. We are reliant on these systems, and even though security plays a critical role in our lives, we rarely stop to think about the consequences of these systems failing us. Yet those who trade financial assets like cryptocurrencies think about these consequences all the time. Why? The risk of violations of our financial sovereignty coupled with the potential of theft…

Ether Rockets 50% in 5-Year Anniversary Month: What’s Behind the Rally?

The price of Ethereum’s Ether token has seen strong momentum in July. Since the start of the month, ETH has climbed by 50% from $225.5 to $340 on Coinbase. It coincides with a five-year anniversary for the dominant smart contracts blockchain protocol. There appear to be two key factors fueling the rally of ETH. First, the anticipation of the market towards ETH 2.0 has been continuously building. Second, the explosive growth of the decentralized finance (DeFi) market has upheld the momentum of Ethereum. ETH/USD surges from $225.5 to $340 from…