On August 19, 2024, a single Genesis creditor became the target of an elaborate social engineering attack orchestrated by Malone Lam (alias "Greavys") and Jeandiel Serrano (alias "Box"), among others. The threat actors employed a multi-pronged strategy:

1. Spoofed Support Calls: They initiated contact by posing as Google Support to compromise the victim's personal accounts.

2. Impersonation of Gemini Exchange: Following the initial breach, they called the victim again, this time masquerading as representatives from the Gemini cryptocurrency exchange, claiming the victim's account had been hacked.

3. Manipulation into Transferring Funds: The victim was coerced into resetting their two-factor authentication and transferring funds to a wallet controlled by the attackers.

4. Screen Sharing Exploit: Utilizing the remote desktop software AnyDesk, the attackers accessed the victim's screen, extracting private keys from Bitcoin Core.

The heist resulted in the unauthorized transfer of significant amounts of Bitcoin:

• 59.34 BTC on August 19 at 1:48 am UTC

• 14.88 BTC on August 19 at 2:30 am UTC

• 4,064 BTC on August 19 at 4:05 am UTC

The stolen funds were quickly laundered through a complex web of transactions involving over 15 cryptocurrency exchanges and conversions between Bitcoin, Litecoin, Ethereum, and Monero to obfuscate the trail.

Crypto investigator @ZachXBT played a pivotal role in unraveling the scheme. Through meticulous tracing of blockchain transactions and analysis of leaked information during screen shares, key suspects were identified:

• Malone Lam ("Greavys"): Known for flaunting a lavish lifestyle, he was tracked through social media posts in Los Angeles and Miami. Approximately $3.5 million tied to him was identified in a specific Ethereum address.

• Jeandiel Serrano ("Box"): Acted as the fake Gemini support representative. Around $18 million associated with him was located in another Ethereum address.

• Veer Chetal ("Wiz"): Received a significant portion of the stolen funds and inadvertently revealed his identity during a screen share. He collaborated with associates to launder the money through platforms like eXch and Thorswap.

The investigative efforts were bolstered by collaborations with organizations such as Crypto Fraud Investigators, Zero Shadow, and the Binance Security Team. Their combined efforts led to the freezing of over $9 million in assets and the return of more than $500,000 to the victim.

On September 19, the U.S. Attorney's Office for the District of Columbia unsealed an indictment against Lam and Serrano. The official statement highlights that they are charged with conspiracy to steal and launder cryptocurrency, spending the proceeds on luxury goods and international travel. The FBI's arrests were part of an ongoing investigation involving multiple field offices and federal agencies.

The unraveling of this high-profile cryptocurrency theft underscores the vulnerabilities that even sophisticated investors face in the digital asset space. As law enforcement agencies ramp up efforts to tackle cybercrime, this case could set a precedent for how such crimes are prosecuted. Investors are urged to exercise heightened vigilance, and the crypto community awaits further developments, which may lead to increased regulatory scrutiny and advancements in security protocols.

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Disclaimer: This article is intended for informational purposes only. It is not intended to be investment advice or any other kind of professional advice. Before making any investment decisions or taking action on the basis of the information in this article, you should conduct thorough research and consult with a qualified financial advisor. Crypto News Network does not guarantee the accuracy or completeness of the information presented in this article.

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In a recent revelation that could stir the global financial and cryptocurrency markets, Edward Snowden, the renowned whistleblower and privacy advocate, has made a bold prediction regarding Bitcoin, the world's leading digital currency.

Snowden, who is best known for his 2013 disclosure of classified NSA information, took to X (formally Twitter) to announce his forecast.

He stated, "Prediction: A national government will be revealed this year to have been buying Bitcoin—the modern replacement for monetary gold—without having publicly disclosed that fact."

Snowden's prediction suggests a significant shift in the traditional monetary systems and highlights the increasing acceptance of cryptocurrencies as viable assets by national governments, albeit secretly. This move, according to Snowden, mirrors the historical reliance on gold as a monetary standard, indicating Bitcoin's growing role in the global economy as a digital equivalent of gold.

The implications of such undisclosed investments by a national government could be far-reaching, affecting not only the perception and stability of Bitcoin but also the transparency and trust in governmental financial practices. If Snowden's prediction comes to fruition, it could prompt a reassessment of national policies on cryptocurrency and potentially catalyze further integration of digital currencies into mainstream financial systems.

Snowden's involvement and commentary on cryptocurrency are not new; he has previously expressed his views on the importance of privacy in digital transactions and the potential of cryptocurrencies to offer a level of security and anonymity. His latest prediction underscores the complex relationship between governments, financial systems, and the burgeoning world of cryptocurrencies.

As the year progresses, the financial community and cryptocurrency enthusiasts will undoubtedly watch closely to see if Snowden's forecast becomes a reality, potentially marking a pivotal moment in the acceptance and use of Bitcoin by governments worldwide.

Disclaimer: This article is intended for informational purposes only. It is not intended to be investment advice or any other kind of professional advice. Before making any investment decisions or taking action on the basis of the information in this article, you should conduct thorough research and consult with a qualified financial advisor. Crypto News Network does not guarantee the accuracy or completeness of the information presented in this article.

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🕰️ SEC postpones spot Bitcoin ETF applications from several prominent companies.

⚖️ Grayscale's recent legal victory might hint at future SEC approvals.

📊 Crypto News Network analysts project promising prospects for upcoming Bitcoin ETF approvals.

Inside the Regulatory Labyrinth

The Securities and Exchange Commission (SEC) has announced a deferment in the review period for spot Bitcoin ETF applications submitted by industry leaders like WisdomTree, Valkyrie, Invesco, and others. This decision means that the crypto community will have to wait until mid-October for further insights.

This delay is the first regulatory challenge these entities have encountered since their respective filings. Every postponement adds a 45-day extension to the evaluation process.

Earlier this week, Grayscale celebrated a significant win against the SEC in court. The DC Circuit court of appeals overturned the SEC's decision concerning Grayscale's $GBTC conversion into a spot Bitcoin ETF. This reversal gives the commission a 45-day period to either appeal or petition for an en banc hearing.

While this legal victory doesn't directly greenlight GBTC's transformation into a spot Bitcoin ETF, it certainly brings us closer to that reality. The appellate court called out the SEC's grounds for Grayscale's application denial. They pinpointed the undoubted financial and mathematical synergy between Bitcoin's spot and future markets that the SEC overlooked.

Crypto News Network's lead analysts, Alex Turner and Samantha Brooks, have adjusted their forecasts based on recent events. They now predict a 75% likelihood of a spot Bitcoin ETF getting the SEC's approval by the end of 2023, with an impressive 95% by the end of 2024.

What Does This Mean for You?

Regulatory decisions, while often intricate, can significantly influence the cryptocurrency sector. Stay updated with these decisions, as they hold potential to alter the Bitcoin ETF scenario in upcoming months. As always, be sure to base your decisions on research and seek advice from financial experts when delving into the multifaceted realm of cryptocurrencies.

For further reading: Dive deeper into the dynamics of Bitcoin ETFs and the companies behind them. Explore our detailed analysis on BlackRock and WisdomTree Bitcoin ETFs.

Disclaimer: This article is intended for informational purposes only. It is not intended to be investment advice or any other kind of professional advice. Before making any investment decisions or taking action on the basis of the information in this article, you should conduct thorough research and consult with a qualified financial advisor. Crypto News Network does not guarantee the accuracy or completeness of the information presented in this article.

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In a groundbreaking decision that has sent shockwaves through the world of cryptocurrency, Ripple Labs has emerged victorious in a lawsuit brought forth by the United States Securities and Exchange Commission (SEC). The ruling, handed down by a judge in the Southern District of New York, declared that Ripple's XRP token is not necessarily a security, a decision that has far-reaching implications for the future of cryptocurrency and could potentially reshape the regulatory landscape.

Ripple Effect on the Cryptocurrency Market

The cryptocurrency market has been a roller coaster of regulatory scrutiny and market volatility. However, the recent ruling in favor of Ripple Labs has injected a new sense of optimism into the market. The news of the ruling led to an immediate surge in the price of XRP, which catapulted from $0.45 to $0.61 within minutes, marking a 32.90% increase.

This victory for Ripple Labs is not just a win for the company, but for the broader cryptocurrency market. It sets a precedent that could influence future regulatory decisions and potentially ease the path for other cryptocurrencies facing similar legal challenges.

The Future of Cryptocurrency: A World of Possibilities

The ruling in favor of Ripple Labs is a testament to the evolving understanding and acceptance of cryptocurrencies. It underscores the fact that cryptocurrencies are not merely speculative assets but have intrinsic value and utility in the digital economy.

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The potential of new cryptocurrencies and blockchain technology is vast. Blockchain, the underlying technology of cryptocurrencies, has the potential to revolutionize various sectors, from finance to supply chain, by providing a decentralized, transparent, and secure method of recording transactions.

The Regulatory Balancing Act

Government regulations have always been a double-edged sword for the cryptocurrency market. On one hand, they are necessary to prevent fraud and protect investors. On the other hand, excessive regulation can stifle innovation and impede the growth of the market. The case between Ripple Labs and the SEC is a prime example of this delicate balance.

The SEC's initial claim was that XRP was a security and thus required additional regulation. However, the court's ruling in favor of Ripple Labs has clarified the regulatory landscape, at least for XRP, and could potentially influence future regulatory decisions.

Blockchain: The Game Changer

The potential of blockchain technology extends far beyond cryptocurrencies. Its ability to provide a secure, transparent, and decentralized method of recording transactions makes it a powerful tool for a variety of applications in finance, supply chain management, and beyond. So What’s Next?

In Conclusion

The ruling in favor of Ripple Labs is a significant milestone in the journey of cryptocurrency acceptance and regulation. It not only vindicates Ripple Labs but also sets a precedent that could influence future regulatory decisions.

As we continue to navigate the evolving landscape of cryptocurrency, one thing is clear: the potential of blockchain technology and cryptocurrencies is vast, and we are only just beginning to scratch the surface of what is possible.

This is a turning point in the cryptocurrency saga, and the next chapters promise to be even more exciting. This is a turning point in the cryptocurrency saga, and the next chapters promise to be even more exciting.

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In the world of cryptocurrency, fortunes can be made overnight, and just as quickly lost. The story of Jimmy, a hacker who exploited the Silk Road's Bitcoin system, serves as a cautionary tale of the potential pitfalls and opportunities in this digital frontier.

The Silk Road Heist

In 2012, Jimmy, a college student with a knack for computer science, discovered a flaw in the Bitcoin system of the infamous Silk Road, an online black market. By studying the system's mixer, which was designed to obfuscate transactions and make them harder to trace, Jimmy managed to steal 50,000 Bitcoins, worth around $620,000 at the time.

The Silk Road's owner, Dread Pirate Roberts, surprisingly didn't demand the stolen Bitcoins back. Instead, he asked Jimmy how he had managed to exploit the system. Upon learning the method, Roberts even sent Jimmy more Bitcoins as a thank you.

The Rise and Fall of a Bitcoin Millionaire

Jimmy, now a Bitcoin millionaire, held onto his stolen Bitcoins, watching as their value fluctuated wildly over the years. Despite the ups and downs, he never sold his original stash, instead living off the Bitcoins he had mined himself.

In 2017, Jimmy proposed a speculative deal to Roger Ver, an early Bitcoin investor and supporter of Bitcoin Cash, a new cryptocurrency. Jimmy offered to trade his Bitcoins for Ver's Bitcoin Cash, a deal that could have netted him an additional billion dollars had it gone through. However, the deal fell through, and Jimmy disappeared from the public eye.

The Impact of Government Regulations

In 2013, the FBI took down the Silk Road and seized 170,000 Bitcoins from its founder, Ross Ulbricht. However, the authorities were aware that Ulbricht had profited from 614,000 Bitcoins, and they were determined to find the rest.

In 2020, the IRS, investigating Jimmy's wealth, traced his transactions back to the Silk Road. Despite Jimmy's careful attempts to separate his Silk Road funds from his legal ones, one mistake led the authorities to his door.

The Future of Cryptocurrency

Despite his downfall, Jimmy's story highlights the potential of cryptocurrencies and blockchain technology. His ability to exploit the Silk Road's system demonstrates the power of blockchain to disrupt traditional financial systems.

However, his eventual capture also underscores the need for regulation and oversight in the cryptocurrency market. As governments around the world grapple with how to regulate these new digital assets, stories like Jimmy's serve as a reminder of the potential risks and rewards that come with this new frontier in finance.

So What’s Next?

The story of Jimmy, the Silk Road, and the rise of Bitcoin is a fascinating tale of ambition, innovation, and the law. It serves as a stark reminder of the potential and pitfalls of the cryptocurrency market. As we look to the future, it's clear that blockchain technology will continue to shape the world of finance and business in ways we can only begin to imagine.

As an expert in business, finance, and cryptocurrency, I believe that we are only at the beginning of this journey. The potential of blockchain technology is vast, and while there will undoubtedly be challenges along the way, the opportunities for innovation and disruption are immense.

The key to navigating this new landscape will be understanding, regulation, and adaptation. As the story of Jimmy shows, those who fail to respect the power and potential of these new technologies may find themselves on the wrong side of history.

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In an age of unprecedented digital evolution, the world's largest asset manager, BlackRock, has made a strategic move that could potentially reshape the landscape of Bitcoin investment. The Wall Street titan has filed for a Bitcoin Exchange-Traded Fund (ETF), a development that has sent ripples through the cryptocurrency community. In the wake of BlackRock's filing, WisdomTree, another heavy hitter in the exchange-traded fund sector, has also stepped into the ring, filing its application for a spot Bitcoin ETF. This is a tale of two financial behemoths trying to make their mark in the rapidly changing cryptocurrency sector.

A Clash of Cryptocurrency Titans

The timing of BlackRock's filing is intriguing, coming amidst a turbulent phase in cryptocurrency's regulatory history. With the Securities and Exchange Commission (SEC) currently scrutinizing Coinbase for alleged violations of securities laws, BlackRock has sought the SEC's approval for a spot Bitcoin ETF, with none other than Coinbase as its custodial partner.

The arrival of old-world wealth in the Bitcoin domain raises eyebrows, as it brings forth fears of losing control - both metaphorical and cryptographic. As Mark Yusko, founder of Morgan Creek Capital Management, expressed in a recent On the Margin podcast, the prospect of handing over the keys to the institutions is a daunting one.

The Bitcoin Community: A Mixed Response

Not all reactions in the Bitcoin community to BlackRock's and WisdomTree's filings have been positive. While some consider institutional investment as a potential boon for the industry, others fear a hostile takeover. Yusko, for instance, worries that if BlackRock were to gain control over Xapo, the institutional-scale crypto custody tool acquired by Coinbase in 2019, it could become a significant holder of American crypto assets. This scenario, he suggests, could lead to potential regulatory actions against Coinbase and a shift of power to BlackRock.

There are also concerns about how BlackRock would react in the event of a hard fork in the Bitcoin network, leading to two different copies of Bitcoin. The prospect of BlackRock potentially closing off access to the preferred fork is a contentious point within the community.

The Double-Edged Sword of Institutional Investment

For Bitcoin to continue its upward trajectory and achieve widespread adoption, Yusko points out that larger and larger buyers are necessary. He counters the community's backlash against 'undesirable money' entering the scene by asserting that the bigger the network, the greater the security and rate of adoption, thereby increasing the value of the network.

Yet, Yusko also acknowledges that there have been instances where large institutions like JPMorgan and BlackRock have allegedly manipulated the market to their advantage, potentially to the detriment of Bitcoin's value.

The Long and Short of It

Despite the potential storm clouds gathering over Bitcoin's future, Yusko remains optimistic. He views the BlackRock filing as a potential turning point from a bearish to a bullish market. He also asserts that disruptive innovations like Bitcoin, which represent the 'infrastructure of truth,' will eventually replace traditional controllers of money and power, albeit not without a 'bloody war.'

The New Kid on the Blockchain: WisdomTree

Hot on the heels of BlackRock's filing, WisdomTree has also submitted its application for a spot Bitcoin ETF. The firm plans to allow investors exposure to Bitcoin prices while factoring in the costs and liabilities related to the ETF's operations. Like BlackRock, WisdomTree seeks to provide a regulated avenue for investors to participate in the Bitcoin market.

The Road Ahead

The filings by BlackRock and WisdomTree underscore the growing acceptance of Bitcoin's potential within traditional finance. These applications may pave the way for broader adoption and a new wave of institutional investors entering the Bitcoin arena.

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Introduction

The Securities and Exchange Commission (SEC) has taken a monumental step in the ongoing regulation of the cryptocurrency industry. The world's largest cryptocurrency exchange, Binance, and its founder, Changpeng Zhao (CZ), face 13 charges from the SEC, including allegations of operating unregistered exchanges, broker-dealers, clearing agencies, and more.

Background on Binance

Binance, initially founded in China by Zhao in 2017 and relocated due to regulatory pressures, has become a cornerstone of the global crypto market. The platform primarily generates revenue from fees collected on crypto trades. However, the platform is now under intense scrutiny for allegedly operating in "blatant disregard" of U.S. securities laws.

The Charges

The charges laid out by the SEC are extensive and suggest a calculated evasion of the law. Among the charges are allegations of Binance allowing high-value U.S. customers to continue trading on the Binance.com platform despite public claims of restricting U.S. customers. The SEC also claims that Binance and Zhao controlled Binance.US, a supposedly independent trading platform for U.S. investors, behind the scenes.

Furthermore, the SEC alleges that Binance and Zhao exercised control over customer assets, allowing them to commingle or divert these assets as they wished, including to Sigma Chain, an entity controlled by Zhao. The complaint also states that Binance misled investors about non-existent trading controls over the Binance.US platform and engaged in manipulative trading.

Binance's Response

Binance and Zhao have vehemently denied the allegations. In an official statement, Binance expressed their disagreement with the SEC's accusations, stating they believe the agency's claims to be "unjustified.”

In a tweet, Zhao reassured his followers and the Binance community that his team was ensuring the stability of the platform, including withdrawals and deposits. He also iterated that Binance isn’t subject to U.S. laws because it doesn’t have a physical headquarters in America, claiming that the company’s headquarters are wherever he is at any point in time.

Broader Context

This action from the SEC comes at a time of increased regulatory scrutiny on crypto platforms, especially since the collapse of the FTX exchange in November last year. The news of SEC's charges against Binance caused Bitcoin, the world’s most popular crypto asset, to fall 6%.

Conclusion

The Hong Kong Monetary Authority has urged banks to provide services to licensed virtual-asset firms, fostering the city's development as a crypto hub and contrasting the US's crackdown on the digital-asset sector.

The charges against Binance and Zhao represent a significant development in the relationship between regulatory authorities and the crypto industry. The outcome of this case could set a precedent for how crypto exchanges operate in the future. As the situation unfolds, it's clear that the crypto world will be watching closely, with potential implications. Stay up-to-date by following us on Instagram & Twitter.

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💼 Coinbase Clashes with SEC

Coinbase has responded firmly to the SEC's Wells notice, challenging the proposed charges and fighting for its survival and the future of the US crypto industry. The company's defense includes a point-by-point rebuttal of the Howey test's applicability to its staking service.

🚀 Pepecoin Defies Expectations: PEPE Nears $1B Valuation

Pepecoin (PEPE) has surged to an almost $1 billion market cap just weeks after its launch, growing 500% in the past two weeks. Despite warnings of an impending collapse and booming short interest, PEPE has continued to soar, causing short sellers to lose millions.

🔗 Robinhood Launches DeFi Connectivity

Robinhood introduces Robinhood Connect, a feature that allows users to access their native crypto wallets directly from decentralized finance (DeFi) protocols and applications without opening the Robinhood app. This update brings more flexibility and seamless DeFi access for Robinhood users.

🌐 JPMorgan Embraces Tokenization

Onyx by J.P. Morgan continues to lead blockchain innovation with its Onyx Digital Assets platform, which recently completed a landmark transaction using tokenized assets as collateral. The Tokenized Collateral Network (TCN) application has the potential to revolutionize collateral markets by providing near-instantaneous real-time change of ownership.

🔍 FBI Searches Ex-FTX Exec's Home

The FBI has reportedly searched the home of former FTX co-CEO Ryan Salame amid increased scrutiny over his advisory role to Sam Bankman-Fried. The exact reasons for the search remain unclear.

🏦 Hong Kong Encourages Banks to Support Crypto Firms

The Hong Kong Monetary Authority has urged banks to provide services to licensed virtual-asset firms, fostering the city's development as a crypto hub and contrasting the US's crackdown on the digital-asset sector.

⚖️ Grayscale Awaits ETF Conversion Decision

Grayscale CEO Michael Sonnenshein anticipates a decision by the end of Q3 2023 on whether the Grayscale Bitcoin Trust (GBTC) can be converted into an ETF. The conversion could help Grayscale eliminate GBTC's infamous discount.

🌐 Franklin Templeton Expands On-Chain US Govt Money Fund to Polygon

Investment management giant Franklin Templeton has expanded its OnChain U.S. Government Money Fund to the Polygon blockchain, enabling the fund to be more compatible with the digital ecosystem.

🔍 CFTC in talks with Binance after launching legal action

The Commodity Futures Trading Commission (CFTC) is in conversations with Binance to address concerns about the company's conduct. The CFTC sued Binance, its CEO Changpeng Zhao, and its former chief compliance officer, alleging that the platform solicited users in the U.S. to trade derivatives without proper authorization.

⚖️ Binance US ends $1B Voyager deal

Binance.US terminated an agreement to purchase the bankrupt crypto broker Voyager Digital Holdings Ltd., after federal regulators dropped their efforts to halt the deal in court. Binance.US cited a hostile and uncertain regulatory climate in the United States as the reason for ending the agreement.

📜 House FSC unveils stablecoin bill draft

The U.S. House Financial Services Committee published a draft version of a potential landmark stablecoin bill, with proposals including a moratorium on stablecoins backed by other cryptocurrencies and a request to study a central bank digital currency (CBDC).

💸 Arbitrum airdrops $120M in ARB tokens to DAOs

Arbitrum (ARB), a Layer-2 scaling solution for Ethereum (ETH), airdropped 113 million tokens, valued at nearly $120 million, to reward 131 Decentralized Autonomous Organizations (DAOs) for their early projects built on the Arbitrum (ARB) network. Despite initial concerns about price retracement, on-chain data shows that none of the top 50 recipients have sold their tokens at the time of writing.

Happy investing and stay tuned for more updates from the Crypto News Network! If you found this article helpful and informative, consider showing your support by leaving a tip.

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Twitter is partnering with eToro, a social trading company, to give its users access to stocks, cryptocurrencies, and other financial assets. The feature, which is set to be rolled out on Thursday, will allow users to view market charts on a wider range of financial instruments and buy and sell assets from eToro on the Twitter app. The cashtags feature on Twitter will be expanded to cover more asset classes, and users can click on the "view on eToro" button, which takes them to eToro's site to buy and sell assets.

The partnership comes at a significant time for Twitter, with Elon Musk's leadership driving the company towards its goal of becoming an "everything app" that combines social media with financial services. This partnership with eToro is a rare and noteworthy business deal for Twitter since Musk took over as CEO after buying the platform for $44 billion last year.

Musk's ambition to turn Twitter into a "super app" can be traced back to his early days at PayPal, the online payments giant he co-founded in 1999. Musk was instrumental in the creation of X.com, an online payment company that was later merged with Confinity to create PayPal. X.com is widely regarded as one of the first online banks, and Musk's experience at the company gave him a deep understanding of the intersection between finance and technology.

Fast forward to today, and Musk's vision for Twitter is not so different from his vision for X.com. Musk has said that he wants Twitter to become "the biggest financial institution in the world." It's a bold statement, but one that is not entirely surprising given Musk's track record of success in the tech industry.

EToro, which was founded in Israel in 2007, is an online brokerage that allows users to buy and sell stocks, cryptocurrencies, and index funds. One of its most popular features is the ability to mimic the trading strategies of other users. The company has over 32 million registered users across Europe, Asia, and the United States.

The partnership with eToro marks a significant moment in the intersection of finance and social media, particularly as "Fintwit" or financial twitter has become a popular trend on the app. The partnership with eToro will allow users to have access to high-quality content, real-time content on financial analysis of companies, and what's happening around the world.

Musk's vision of turning Twitter into the "everything app" is gaining momentum with the eToro partnership, as the concept has proven wildly popular in East Asia. Tencent, a Chinese internet giant, offers payments through its WeChat messaging app, and Musk has made it his mission to turn Twitter into a similar type of app. In fact, Musk has even changed the corporate name of Twitter to X Corp after merging with a shell company with that name.

This partnership is just the beginning of Twitter's move into the world of finance, and it will be exciting to see how the platform evolves to cater to its growing audience interested in the world of finance.

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Crypto News Network just published its first note on Substack Notes, and would love for all you “HODL’ers” to join us there for real-time updates and news!

Notes is a new space on Substack for us to share links, short posts, quotes, photos, and more. I plan to use it for things that don’t fit in the newsletter, like work-in-progress or quick questions.

Go to Notes

How to join

Head to substack.com/notes or find the “Notes” tab in the Substack app. As a subscriber to Crypto News Network, you’ll automatically see my notes. Feel free to like, reply, or share them around!

You can also share notes of your own. I hope this becomes a space where every reader of Crypto News Network can share thoughts, ideas, and interesting quotes from the things we're reading on Substack and beyond.

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Quizzo Time! 💰

How Much Do You Know About Coinbase and Lightning Network? Test Your Knowledge with Our Fun Quiz!

In this quizzo, we will test your knowledge about Coinbase and Lightning Network. And the best part? One lucky winner who answers all the questions correctly will win $100 in Bitcoin! To participate, simply DM us your answers on Twitter or Instagram. We will randomly select one winner from all the correct entries. So what are you waiting for? Take the quiz and try your luck!

1. Which popular cryptocurrency exchange is considering the integration of Lightning Network?

   a. Binance

   b. Coinbase

   c. FTX

   d. Kraken

2. What is Lightning Network?

   a. A cryptocurrency

   b. A Layer 1 scaling solution for Bitcoin

   c. A Layer 2 scaling solution for Bitcoin

   d. A blockchain platform

3. What is the purpose of Lightning Network?

   a. To create a new cryptocurrency

   b. To provide faster and cheaper Bitcoin transactions

   c. To mine Bitcoin more efficiently

   d. To improve Bitcoin's security

4. Which of the following trading platforms has already integrated Lightning Network?

   a. Bitfinex

   b. Kraken

   c. OKX

   d. All of the above

5. What is Coinbase's Ethereum layer 2 application-focused network called?

   a. Base

   b. Layer2

   c. EthCoin

   d. Ethereum Pro

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If you encounter any issues, you can always refer to the Notes FAQ for assistance. Looking forward to seeing you there!

Go to Notes

Coinbase, one of the largest cryptocurrency exchanges in the world, is considering the integration of Lightning Network, a layer 2 scaling solution for Bitcoin transactions, according to CEO Brian Armstrong.

The announcement came in response to criticism that Coinbase had been "actively ignoring" the network. Armstrong, however, did not provide any specifics on how the integration would work or when it would happen.

If Coinbase follows through with the integration, it would become one of the largest trading platforms to do so, alongside Bitfinex, Kraken, and OKX. David Coen, a Lightning enthusiast, had previously suggested that many trading platforms may be hesitant to integrate Lightning as it could go against their business plan of prioritizing altcoins and following market trends.

The Lightning Network is a solution to Bitcoin's scalability issues, enabling faster and cheaper transactions than the base network. With more companies adopting the technology, it could be the push that Lightning Network needs to achieve widespread adoption.

Coinbase has recently been more active in the Ethereum ecosystem, launching a layer 2 application-focused network called "Base" powered by Optimism. However, with the renewed interest in Bitcoin's scaling solutions, Coinbase's adoption of Lightning Network could be a game-changer for the cryptocurrency industry.

As the debate around Bitcoin's scaling solutions continues, Coinbase's potential adoption of Lightning Network signals a move towards faster and cheaper transactions for the popular cryptocurrency. The question now is, will other major players in the industry follow suit?

If you found this article helpful and informative, consider showing your support by leaving a tip.

Your generosity will not only help us continue our efforts in bringing you the latest and most insightful crypto news, but it will also help us grow and improve. Simply send a small bitcoin donation to our bitcoin address:

bc1qgevxgryjranjw7chg9h8sgjp6v7w7a98g9arnp

Every little bit helps and we truly appreciate your support. Thank you for being a part of the Crypto News Network community!

Quizzo Time! 💰

How Much Do You Know About Coinbase and Lightning Network? Test Your Knowledge with Our Fun Quiz!

In this quizzo, we will test your knowledge about Coinbase and Lightning Network. And the best part? One lucky winner who answers all the questions correctly will win $100 in Bitcoin! To participate, simply DM us your answers on Twitter or Instagram. We will randomly select one winner from all the correct entries. So what are you waiting for? Take the quiz and try your luck!

1. Which popular cryptocurrency exchange is considering the integration of Lightning Network?

   a. Binance

   b. Coinbase

   c. FTX

   d. Kraken

2. What is Lightning Network?

   a. A cryptocurrency

   b. A Layer 1 scaling solution for Bitcoin

   c. A Layer 2 scaling solution for Bitcoin

   d. A blockchain platform

3. What is the purpose of Lightning Network?

   a. To create a new cryptocurrency

   b. To provide faster and cheaper Bitcoin transactions

   c. To mine Bitcoin more efficiently

   d. To improve Bitcoin's security

4. Which of the following trading platforms has already integrated Lightning Network?

   a. Bitfinex

   b. Kraken

   c. OKX

   d. All of the above

5. What is Coinbase's Ethereum layer 2 application-focused network called?

   a. Base

   b. Layer2

   c. EthCoin

   d. Ethereum Pro

Interested in learning more about Crypto, Bitcoin, Web3 and emerging tech? Follow Crypto News Network everywhere:

Instagram | Twitter | LinkedIn | Facebook | TikTok

In the wake of the recent murder of Cashapp founder Bob Lee, it's hard not to be reminded of the bizarre and enigmatic deaths of several other high-profile figures in the world of cryptocurrency. From Vyacheslav Karan's helicopter crash in November '22 to Tiantian Kullander's sudden death in his sleep just days before, the pattern of untimely and unexplained demises has captured the imagination of conspiracy theorists.

Vyacheslav Taran

A cryptocurrency mogul, met his tragic end in a horrific helicopter accident in November '22. The circumstances surrounding the crash remain murky, and this has only fueled speculation about foul play.

Tiantian Kullander

Another giant in the industry, was found dead in his sleep just days before Karan's accident. Though the cause of his death remains unknown, whispers of a sinister plot have begun to circulate among those who question the coincidence.

Nikolai Mushegian

A millionaire cryptocurrency developer, was found dead in a lake after claiming the US and Israel were after him. This mysterious drowning in Puerto Rico only adds to the growing list of inexplicable deaths among crypto's elite.

Autumn Radtke

The CEO of First Meta Pte Ltd, was one of the first cryptocurrency leaders whose death sparked conspiracy theories. Despite a coroner's ruling of suicide, the whispers have persisted, and her passing continues to be scrutinized.

Gerald Cotten

Founder of Quadriga CX, once Canada's largest cryptocurrency exchange, died under highly suspicious circumstances. His death during a honeymoon in India led to the unraveling of a massive Ponzi scheme, and rumors still swirl about whether he faked his own death to escape the consequences of his actions.

Mircea Popescu

A controversial Romanian Bitcoin investor, met a tragic end in 2021, drowning off the coast of Costa Rica. With a fortune estimated at over $2 billion, his untimely death sparked further speculation. Notably, both Popescu and Nikolai Mushegian, another crypto entrepreneur, drowned under similar circumstances. Despite these eerie coincidences, there is strong evidence to suggest that Popescu's death was an accident, resulting from swimming in a notoriously dangerous area.

As these tragic stories unfold, conspiracy theories abound, drawing connections between the deaths of these influential crypto figures. Some suggest the involvement of powerful and shadowy forces seeking to control or undermine the disruptive potential of digital currencies.

However, despite the sensational speculation, there remains no concrete evidence to support these theories. In the absence of definitive proof, the crypto community is left to grapple with the tragic losses of its pioneers and the unsettling uncertainty surrounding their deaths.

In the end, the enigma of these untimely deaths serves as a stark reminder of the volatility and high stakes involved in the world of cryptocurrency. As the industry continues to grow and push boundaries, the question remains: are these unfortunate coincidences or is there a hidden hand at play, manipulating the fates of those who dared to challenge the status quo?

While the truth behind these mysterious deaths may never be fully uncovered, one thing is certain: the world of cryptocurrency will continue to intrigue and captivate the imaginations of those who seek to understand its complexities, its risks, and its potential to reshape our financial future.

If you found this article helpful and informative, consider showing your support by leaving a tip.

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bc1qgevxgryjranjw7chg9h8sgjp6v7w7a98g9arnp

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The Bitcoin white paper, written by the elusive creator Satoshi Nakamoto, has been found hidden within every MacOS version since 2017. The discovery was first made by a user named bernd178 on the MacOS Community Forum, who noticed a buried function within the Image Capture Utility called Virtual Scanner II. Upon investigation, it was found that the function contained a PDF copy of the Bitcoin white paper, along with a nondescript image of a San Francisco bay. The news recently resurfaced when blogger Andy Baio published the information on his blog Waxy.

Despite the surprise and excitement surrounding the discovery, the reasons for the white paper's inclusion remain a mystery. Baio speculated that it could have been a convenient and lightweight multipage PDF for testing purposes, never meant to be seen by end users. Others have suggested that the inclusion could be an act of defiance by a coder working at Apple against Craig Wright, who has been unsuccessfully suing places that host the white paper in an attempt to copyright it.

Interestingly, MacOS versions prior to High Sierra 10.13 do not contain the white paper, indicating that it was added in the later updates. This has led some to wonder if Apple is secretly supportive of Bitcoin and other cryptocurrencies. However, it's also possible that the inclusion was purely accidental and not indicative of any company-wide stance.

While some have dismissed the discovery as trivial, it highlights the enduring relevance and impact of Satoshi Nakamoto's vision for a decentralized digital currency. It's also a reminder of the growing interest in cryptocurrency and its potential to revolutionize traditional finance systems.

It's worth noting that Apple co-founder Steve Jobs had expressed interest in Bitcoin and its underlying technology, blockchain, before his passing in 2011. In a 1996 interview with Wired magazine, Jobs made a statement that is eerily relevant to the current cryptocurrency landscape: "I think the fact that within the universe an algorithm replaces the function of the government is actually pretty cool."

While it's unclear whether Jobs' vision for decentralized currency played any role in the decision to include the white paper in MacOS, the discovery certainly adds to the intrigue and speculation surrounding the future of Bitcoin and other digital currencies.

As cryptocurrency continues to gain traction and mainstream acceptance, the discovery of the hidden white paper serves as a reminder of the innovation and creativity that drive technological progress. It remains to be seen how this latest development will impact the world of cryptocurrency, but one thing is certain - the story of Bitcoin is far from over. The potential for blockchain to revolutionize industries and reshape our digital world is a topic that will continue to captivate and inspire, long after the mystery of the hidden white paper has been solved.

It remains to be seen whether Apple will take note of the white paper's inclusion and remove it through their regular patches. Regardless, the discovery has reignited curiosity about the origins and future of Bitcoin, as well as the potential for blockchain technology to transform our digital world.

If you found this article helpful and informative, consider showing your support by leaving a tip.

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Today, we celebrate the birthday of the pseudonymous creator of Bitcoin, Satoshi Nakamoto. Although the identity of Satoshi remains unknown and is likely to stay that way, it is known that they registered a birthdate with The P2P Foundation, which lists April 5, 1975, as Satoshi's birthday.

Despite the lack of information about Satoshi's true identity, the Bitcoin community has drawn various theories about why they chose this specific birthdate. One theory is related to the anniversary of President Franklin D. Roosevelt's ban on private gold ownership on April 5, 1933, through Executive Order 6102. This act was seen by many as a failure of government-controlled money, leading some to believe that Satoshi was making a statement about the monetary system with their choice of birthdate.

Additionally, Satoshi's birth year of 1975 is speculated to be a reference to President Gerald Ford's repeal of Executive Order 6102 in 1974. This repeal effectively increased the gold content of the US dollar from $20 to $35 an ounce. Both the birthdate and birth year have been seen as winks from Satoshi, hinting at their thoughts on the monetary system.

Despite the ongoing speculation about Satoshi's identity, it is important to remember that Bitcoin is an open-source protocol that has outgrown the need for a single founder or group of founders. Satoshi stepped away from the project in 2011 when it was still in its infancy, but Bitcoin has since grown into a $500 billion global monetary system. The fact that Satoshi was able to step away and allow Bitcoin to grow on its own is a testament to their leadership and the power of a decentralized system.

It is also important to note that it doesn't matter who Satoshi truly is or was. Bitcoin belongs to everyone now and there is no single leader. While this lack of a clear leader may make decision-making and development more difficult, it also ensures that no one person or group can claim ownership of the project.

The question of Satoshi's identity has sparked numerous theories, with candidates ranging from Hal Finney to Nick Szabo and even Adam Back. However, a recent development in a court case involving self-proclaimed Satoshi, Craig Wright, has pointed to a new candidate – Paul Solotshi Calder Le Roux. Le Roux, a former cartel boss and drug smuggler, is also a brilliant programmer who created encryption software E4M and TrueCrypt, which is suspected to be the cryptography Satoshi used to secure their 1 million Bitcoin.

According to the unredacted information from the court case, Kleiman v. Wright, there is a strong assumption that Le Roux is the criminal kingpin Wright talks about in the document. The information suggests that Wright was an employee of Le Roux and an informant who helped bring him down in 2012. Some speculate that Wright and his business partner, Dave Kleiman, managed to get their hands on Le Roux's encrypted hard drives that hold 1 million bitcoins.

Adding to the theory, Wright's close friend, Calvin Ayre, has set up warehouses of computers to try and crack the encrypted hard drives code, disguising them as a cryptocurrency mining farm. This has led some to believe that Wright's attempts to prove himself as Satoshi is simply a front to gain access to the 1 million bitcoins.

Despite the intriguing theory about Paul Le Roux being Satoshi, the fact remains that the true identity of the Bitcoin creator may never be known. This is because Satoshi stepped away from the project in 2011, when it was still in its infancy, leaving it to grow into a $500 billion global money system without a leader. Bitcoin is an open-source protocol that has outgrown a founder or founders and belongs to everyone, making it a leaderless decentralized system.

In conclusion, while the identity of Satoshi Nakamoto may never be known, what's important is the impact they have had on the world of finance and technology. Bitcoin has proven to be a small miracle, a leaderless protocol that has grown into a global phenomenon. The fact that Satoshi stepped away from the project when it was still young, allowing it to grow without a leader, has led to the creation of a decentralized system that belongs to everyone. Regardless of who Satoshi is or was, their legacy lives on in the form of Bitcoin.

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It is with deep sadness that the tech community mourns the loss of Bob Lee, a visionary in the industry who was tragically taken from us too soon. Bob Lee, the chief product officer at MobileCoin, was killed in a fatal stabbing in San Francisco, leaving behind a legacy that will not soon be forgotten.

Bob Lee was a trailblazer in the tech world, making significant contributions to the industry through his work at Google, Square, and MobileCoin. As one of the early developers of Android at Google, Bob focused on core library development, before joining Square to create its Android app and becoming the company's first CTO. He also went on to create Cash App, a widely popular payment app that has transformed the way people send and receive money.

Bob's impact extended far beyond his work at Square and MobileCoin. He was also a well-known investor in tech startups, with a portfolio that included companies like SpaceX, Clubhouse, Tile, Figma, and Orchid, among others. He was a sought-after mentor and advisor, known for his passion for technology and his willingness to share his expertise with others.

Bob Lee, also known as "Crazy Bob," was widely respected in the tech community for his innovative ideas and his ability to turn those ideas into successful products. He was a true creative, always pushing the boundaries of what was possible and inspiring others to do the same. His code, which generated numbers and used backtracking techniques to achieve the best performance, was widely admired and set the standard for others in the industry.

Bob Lee's death comes at a time when Block Inc, the company that operates Cash App, has been facing allegations from short seller Hindenburg Research regarding the inflation of user counts on the app. The research firm claimed that Block had reported inflated user counts on Cash App to investors for years, and that its previously reported 51 million monthly transacting actives as of December 2022 represented a 16% to 31% inflation of its actual estimated internal user counts.

Block has responded to these allegations, stating that 44 million of its more than 51 million monthly active customers on Cash App were verified through its identity program as of December 31, 2022. Despite these efforts to dispel the allegations, the controversy continues to cast a shadow over the company and the legacy of Cash App, which Bob Lee played a key role in creating.

It is important to note that the allegations made by Hindenburg Research have not been proven, and that the company has not yet responded to a request for comment by Crypto News Network. Nevertheless, the allegations and the ongoing investigation serve as a reminder of the challenges that companies in the tech industry face, and the importance of maintaining transparency and integrity in reporting user numbers and other key metrics.

The tech community has lost a true giant with the passing of Bob Lee. He will be deeply missed, but his legacy will continue to live on through the products he created and the lives he touched. Our thoughts are with his family and friends during this difficult time.

Rest in peace, Bob Lee.

Your impact on the tech world will never be forgotten.

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Rumors of an Interpol Red Notice for Binance CEO, Changpeng Zhao (CZ), sent shockwaves through the cryptocurrency industry on April 3, 2023. The Red Notice, which is a request for law enforcement worldwide to locate and arrest a person pending extradition, surrender, or similar legal action, would have been a significant development in CZ's ongoing legal troubles. However, Binance was quick to deny the rumors, stating that they were "not true."

The rumor began with a tweet from @cobie, a well-known figure in the crypto community, who encrypted a message about the supposed Red Notice. Although the post was not meant for the public's eyes, someone cracked the code, causing a stir among investors. The negative publicity could not have come at a worse time for Binance, which is already facing a civil enforcement action by the Commodities Futures Trading Commission (CFTC) for allegedly violating US laws.

Binance's legal troubles and regulatory pressure have been mounting in recent months. The CFTC's civil enforcement action accuses CZ and Binance of "willful evasion" of US laws and other CFTC regulations. The complaint also alleges that Binance allowed US customers to trade on the platform despite knowing that it was illegal. The lawsuit seeks civil monetary penalties, disgorgement of ill-gotten gains, and trading bans.

The rumors of an Interpol Red Notice only added to the negative attention on Binance and CZ. The exchange has been subject to increased regulatory scrutiny from various countries, including Japan, the UK, and Canada. The Chinese government has also cracked down on cryptocurrency trading, which has affected Binance's operations in the country. The exchange has moved its headquarters several times, with its current location in Malta.

Despite the negative attention, Binance remains one of the most popular cryptocurrency exchanges in the world, with a daily trading volume of over $10 billion. The exchange has also launched several initiatives to promote cryptocurrency adoption, such as Binance Academy, which provides educational resources for beginners, and Binance Charity, which supports various charitable causes.

However, the ongoing legal troubles and regulatory pressure on Binance and CZ have raised concerns about the future of the exchange. Investors and industry experts will be closely watching the developments and their potential impact on the cryptocurrency industry as a whole. As the crypto world continues to evolve, it remains to be seen how Binance will navigate these challenges and emerge on the other side.

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Billionaire entrepreneur Elon Musk has once again caused a stir in the world of cryptocurrency, this time by replacing Twitter's iconic blue bird logo with the face of the Shiba Inu dog that represents Dogecoin. The move sent the value of the meme coin soaring, with Dogecoin (DOGE) rising more than 35% in just a few hours. The price of DOGE got as high as $0.1046, compared to around $0.077 just before the logo change. This is the first time the price of DOGE has exceeded 10 cents since December, according to Crypto News Network data.

For those unfamiliar with Dogecoin, it is a cryptocurrency that was created as a joke in 2013 by software engineer Billy Markus and Jackson Palmer. Despite its humble origins, Dogecoin has become one of the most popular and widely recognized cryptocurrencies in the world, largely due to Elon Musk's repeated endorsements. Musk has long been a fan of the meme coin, referring to himself as the "Dogefather" and even announcing plans to launch a satellite to the moon funded by Dogecoin in 2021.

Elon Musk's love affair with Dogecoin has had a major impact on the value of the cryptocurrency. Every time Musk tweets about Dogecoin, its value tends to rise, as was the case when he announced that certain Tesla merchandise could be purchased using the coin in January 2022. The billionaire's latest endorsement of Dogecoin, in the form of the Twitter logo change, has once again sent the value of the coin soaring.

The Twitter logo change has sparked a lot of speculation about why Elon Musk chose to endorse Dogecoin in this way. Some have suggested that it may be related to a recent lawsuit filed by Dogecoin investors who claim that Musk drove up the cryptocurrency's price and then let it crash. The plaintiffs are demanding $258 billion in damages, but Musk's lawyers have argued that the lawsuit is a "fanciful work of fiction".

Despite the lawsuit and the often-volatile nature of cryptocurrencies, Dogecoin remains a popular choice for investors and traders, largely due to its lighthearted and inclusive community. The Shiba Inu dog that represents Dogecoin is a nod to the meme that inspired its creation, which features the dog in various absurd circumstances and forms. The Doge meme began with a 2010 photo of a Japanese Shiba Inu named Kabosu and has since become one of the most recognizable memes on the internet.

In conclusion, Elon Musk's latest endorsement of Dogecoin has once again sent the value of the meme coin soaring. Despite its humble origins as a joke, Dogecoin has become one of the most popular and widely recognized cryptocurrencies in the world, largely due to Musk's repeated endorsements. Whether you are a fan of Dogecoin or not, there is no denying that Elon Musk's influence on the world of cryptocurrency is significant, and it will be interesting to see what he does next to boost the value of Dogecoin or any other cryptocurrency.

So, there you have it, the story of how Doge took over Twitter and sent its value soaring thanks to Elon Musk's latest endorsement. Whether you are a fan of Dogecoin or not, it is hard to deny the impact that Elon Musk has had on the world of cryptocurrency, and it will be interesting to see what he does next.

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Binance, one of the world's largest cryptocurrency exchanges, is facing a $1 billion lawsuit over allegations that it promoted unregistered securities. The lawsuit, filed by the Moscowitz Law Firm and Boies Schiller Flexner, accuses Binance of listing securities as cryptocurrencies and paying influencers to promote them. The suit names three crypto influencers, including NBA star Jimmy Butler, and Binance CEO Changpeng ‘CZ’ Zhao as defendants.

The lawsuit claims that Binance's token BNB is one of the unregistered securities that the company promoted. The suit alleges that the BNB burn program, which reduces the coin's supply to increase its value, makes it an unregistered security. The plaintiffs, two Florida residents and a California resident, claim that they lost money while trading digital assets promoted by Binance and the influencers.

The lawsuit could potentially affect millions of investors who traded in the digital assets promoted by Binance and the influencers. The law firms claim they investigated the crypto exchange for over a year before filing the lawsuit. The legal challenge comes at a difficult time for Binance, which is facing regulatory scrutiny from the Commodities Futures Trading Commission (CFTC) and the US Department of Justice.

The CFTC recently sued Binance and CZ for violating derivative trading laws. The lawsuit seeks civil penalties and trading bans against Binance and CZ. Meanwhile, the US Department of Justice is reportedly investigating Binance and its founder for potential money laundering and tax evasion. Despite the legal challenges, Binance has stated that it will cooperate with regulators and has received support from the broader crypto community.

The legal challenges and reputational risks present significant challenges for Binance, which controls over 70% of the market. The lawsuit could also have implications for other cryptocurrency exchanges and influencers, who may face increased scrutiny and legal action for promoting unregistered securities. The case highlights the need for greater regulation and oversight of the cryptocurrency industry to protect investors from potential scams and frauds.

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El Salvador's President Nayib Bukele is making waves with his new campaign promoting his country as the "New Land of the Free" with Bitcoin as legal tender. This bold move has sparked international interest, as El Salvador becomes the first country in the world to adopt Bitcoin as legal currency. President Bukele tweeted a vintage-style Americana poster featuring a classic American family in a living room, calling his country "the new land of the free." The poster invites foreigners to move to El Salvador, touting the country's advantages, including its commitment to security and the adoption of Bitcoin.

El Salvador has struggled with violence and instability in recent years, but President Bukele's government has made significant strides in improving the security situation. The country has seen a remarkable 57% drop in its homicide rate, and the government has implemented strict security measures to ensure the safety of its citizens. The poster emphasizes these achievements, calling for people to move to El Salvador, where they can enjoy a secure and peaceful environment.

In addition to its improved security, El Salvador has also made history with its adoption of Bitcoin as legal tender. This bold move is designed to stimulate economic growth and provide Salvadorans with greater financial freedom. The poster highlights this achievement, showing that El Salvador is leading the way in the world of cryptocurrency. President Bukele has even proposed granting Salvadoran citizenship to those who invest in the country using Bitcoin. With its beautiful weather, stunning beaches, and commitment to security and economic growth, El Salvador truly is the "New Land of the Free" and a beacon of hope for a brighter future.

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A new MIT thesis written by Major Jason Lowery of the US Space Force suggests that Bitcoin could be used as a weapon by the Pentagon in modern warfare. The 400-page dissertation argues that the proof-of-work consensus mechanism of Bitcoin presents a major shift in the way that world powers could wage war. Lowery suggests that instead of traditional methods such as ground troops or air-launched nuclear weapons, nations could battle by competing for Bitcoin block rewards. The major believes that the US should support and adopt Bitcoin as quickly as possible in order to maintain its status as a global superpower, as it represents a "national strategic imperative."

Lowery is an active-duty astronautical engineer and National Defense Fellow at MIT, whose job is to advise senior military personnel on the implications of Bitcoin. He released his thesis as a book in February under the title "Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin." The book describes a scenario in which governments compete with hashrate, similar to a digital Cold War, with Bitcoin and bragging rights as the spoils. The major believes that Bitcoin's consensus mechanism could also be harnessed to deter denial-of-service attacks, making it prohibitively expensive for bad actors to spam software systems.

In contrast to Lowery's argument, the current stance of US regulators and the White House has been to offer no support for Bitcoin, instead opting to regulate digital assets through litigation. The major has warned US policymakers that the country risks losing its status as a global superpower if it does not support and adopt Bitcoin. He has also expressed concern about the potential for government regulators to ban Bitcoin on the grounds that it represents a threat to national security. Lowery argues that this would be a national strategic security hazard and that the best defense is to argue that it would be an undefeatable argument, provided one has the courage to use it.

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