Domenic Perfetti

🚨 California's DFPI has revoked BlockFi's lending license due to multiple violations. 😱 This is a major shake-up in the blockchain lending space! Key takeaways: ✅ BlockFi failed to evaluate borrowers properly ✅ Charged interest before loan disbursement ✅ Didn't provide credit counseling or report to credit bureaus ✅ Inaccurate APR disclosures While a $175K fine was levied, it was waived due to BlockFi's bankruptcy. 💸 What does this mean for the industry? 🤔 It's a stark reminder that even in the decentralized world of crypto, regulatory compliance is crucial! 👉 Action Item: If you're in the crypto lending space, ensure your practices align with local regulations to avoid similar pitfalls. Let's discuss! What are your thoughts on this development? 💬 #blockchain #ethereum #smartcontracts #dappdojo #solidity #onlineeducation Read more: https://lnkd.in/esnyvfbV

1

💼Company: Clutch Security  💰Funding: $8.5 Million ⚡Round: Seed Round 👥Investors: Lightspeed Venture Partners, Merlin Ventures, CCL (Cyber Club London), Nir Polak, Shlomo Kramer, angel investors, Armon Dadgar Clutch Security addresses the growing need for non-human identity security in modern companies. The administration and security of non-human identities—from #API keys and secrets to tokens and service accounts—has become a crucial but frequently overlooked part of #cybersecurity as digital infrastructures grow. Clutch is creating an enterprise platform to safeguard and manage these identities to fill this need. Read more - https://lnkd.in/eBF64Aas To share your startup story write us on - [email protected] #FundingNews #Israel #Investment #ClutchSecurity #CyberSecurity

40

Stay up-to-date with the latest web3 adoption news! 🫡 🍰 #PancakeSwap has launched a #Telegram bot, enabling seamless crypto trading within chats. 💳 #CoinbaseWallet is set to introduce a Tap-to-Pay feature for crypto transactions, streamlining in-store payments. 🏦 Pennsylvania lawmakers propose allocating 10% of the state’s $7B reserve into #Bitcoin, marking a potential shift in public fund management. 💰 #FranklinTempleton expands its money market fund to the #Ethereum blockchain, continuing its push into tokenized finance. 🚨 #CryptoCom expands its footprint in Australia by acquiring licensed brokerage Fintek Securities. 📱 #PhantomWallet enters the top 10 utility apps on the U.S. App Store, reflecting rising demand for user-friendly Web3 solutions. 🔗 #DeutscheTelekom collaborates with #NEAR blockchain to support decentralized applications and enhance blockchain infrastructure. 🇮🇹 Italy revises its proposed 42% crypto tax down to 28% for a more balanced approach to crypto regulation. Follow us at Mluck and stay tuned!

1

⚔️ The tBTC vs WBTC saga echoes of David vs Goliath. The Threshold Network has unveiled a bold proposal: ➡️ merge WBTC's liquidity and integrations with tBTC's decentralized security to create a Bitcoin bridge that marries the best of both worlds. The proposal would allow Threshold DAO to mint and redeem WBTC. Other WBTC merchants would be removed from the system, and the DAO would assume control of the WBTC freeze function and other administrative powers.  tBTC minting would be paused, and current tBTC holders would be allowed to redeem their tokens 1:1 for WBTC (or native Bitcoin). From there, the TVL of WBTC would gradually migrate to Threshold's decentralized custody in phases, spreading the funds across multiple wallets. In addition, Threshold is offering to mint an additional 15% of its total token supply (1.65 billion new T tokens) as a grant for @BitGo, a package worth over $36 million at current prices. Of course, no proposal is without risk, and Threshold has a contingency plan. If BitGo declines to participate, the Threshold DAO suggests an orderly offboarding of WBTC from the DeFi ecosystem. They propose using the new token mint to subsidize the transition for protocols and users alike. Whether it's covering redemption fees or helping DeFi protocols rework their infrastructure to support tBTC, the Treasury Guild has a roadmap to minimize the impact of WBTC's decline. A groundswell of support for the proposal has emerged from the depths of the DeFi community. Major players like Curve Finance, Wormhole, Synthetix, and AjnaFi have rallied behind the #saveWBTC campaign, echoing a unified message: The future of WBTC is uncertain. Bitcoin's values aren't. Let's #saveWBTC Sign the pledge today: https://lnkd.in/e5XsbuZC

17

Industry Update 📢 Kraken, in collaboration with Coinbase and Fireblocks, has co-founded the Blockchain Security Standards Council (BSSC). This nonprofit organization aims to establish uniform security standards within the crypto industry, addressing security threats and enhancing consumer protection. The BSSC plans to develop benchmarks and a comprehensive audit process by the end of 2024, working closely with regulators to ensure a secure and innovative blockchain ecosystem. What impact do you think the BSSC will have on the overall security and regulatory landscape of the crypto industry? 🤔 Comment your thoughts below 💭 #BlockchainSecurity #CryptoStandards #BlockchainInnovation #CryptoRegulation #BSSC #DigitalSecurity #Fintech #BlockchainCouncil #IndustryStandards #CryptoNews

4

Spokeo is committed to realizing self-sovereign identity #SSI. We’ve spent more than $5M over 3 years on developing and marketing an identity protection product for data subjects, and our margin was more than -80%. We had to pause the initiative because scaling a money-losing product will bankrupt our business. That said, we’ve put our money where our mouth is, and we will continue to try finding that product market fit for #SSI. Currently, verifiers and searchers pay for identity-related services. While the SSI community is focused on involving data subjects to complete the identity trust triangle, we also have to keep verifiers and searchers’ interests in mind because they are the ones paying the bills. The identity trust triangle is inherently a multi-sided platform, and we have to balance every stakeholder’s interests (e.g. not pit one against the other) in order to realize #SSI.

13

2 Comments

The latest update for #Fireblocks includes "Transforming #DigitalAsset Treasury Operations with Fireblocks Automation" and "Streamlining Merchant Settlement and Cross-border Payments with Stablecoins". #Cybersecurity #web3 https://lnkd.in/e7xbmqfP

2

📢 October Review Newsletter is Here! 📰 The Rhode Island Blockchain Council’s latest newsletter is live, packed with insights into October’s major developments in the blockchain and crypto space. From Stripe’s game-changing acquisition to the rise of Web3 projects like Sui and Aptos, our October update dives deep into market trends, new partnerships, and industry advancements shaping the future of decentralized finance. 🌐 Whether you’re a seasoned blockchain professional or just getting started, there’s something for everyone! ➡️ Read the October Review - https://lnkd.in/eAGJuQCE

4

1 Comment

Sui's Rapid Growth and Tech Innovation in 2024 🚀 Sui Foundation is transforming Web3 with its Sui Move programming language and Narwhal-Bullshark consensus protocol, combining scalability and security for developers. For users, Sui offers low-cost transactions, gas fee abstraction, and privacy enhancements through zkLogin, ensuring a seamless and secure experience. In 2023, Sui experienced remarkable growth, with a 1,459% DeFi TVL surge, 508% market cap increase to $2.3B, and DEX volumes spiking by 3,689%. What can we expect for SUI in 2025? At Tritemius we will be paying attention to the evolution of this ecosystem. Have you used SUI before? Let us know! 👀 AlphaFi Scallop Suilend Bucket Protocol #TritemiusVC #Web3

8

👇 🚨#Consumer & #Security Alert 🚨 https://lnkd.in/gUxz87XW Crypto Scam App Disguised as WalletConnect Steals $70K in Five-Month Campaign Cybersecurity researchers recently uncovered a malicious #Androidapp on the #GooglePlayStore that managed to steal about $70,000 in cryptocurrency from victims in a span of almost five months. The dodgy app, posing as the genuine #WalletConnect protocol, deceived users into downloading it. The #app garnered over 10,000 downloads by leveraging fake reviews and consistent branding, ranking high in search results. This incident marks the first time a #cryptocurrency drainer has specifically targeted #mobile users. Although over 150 users were affected by the #scam, not everyone who downloaded the app fell victim to the cryptocurrency theft. #bankingindustry #cyber #endpointsecurity #iotsecurity #IoT #Canada #UK #SouthAmerica #cyberawareness #technology #datasecurity #cloud #google #microsoft #windowssecurity #vulnerability #securityawareness #riskmanagement #infrastructure #globalsecurity #threatintelligence #EU #socialmedia #news #defensivemeasures #knowledgebase #linkedin #networksecurity #vulnerability #internetofthings #smartphones #UnitedKingdom #mobilephones #AsiaPacific #EuropeanUnion #DataSecurity #privacy #NewZealand #Cybersecurity #DataProtection #DataPrivacy #PersonalData #BusinessTravel #Website

5

News Alert 🇺🇸 PayPal expands crypto capabilities for U.S. business accounts, enabling buying, selling, and transferring digital assets. ◾ PayPal's move enhances crypto functionality for millions of businesses across the U.S. However, the service will not be available to business accounts in New York State. ◾ Building on its 2020 rollout for consumers, PayPal now extends crypto features to business accounts, including the ability to transfer digital assets and receive supported tokens from external addresses. ◾ The expansion comes after PayPal introduced its U.S. dollar-pegged stablecoin, PYUSD, further solidifying its presence in the digital asset space. Read more The Block👇 https://lnkd.in/ee3VnGvS

1

On the back of the article from The Guardian “Banks, airlines and media outlets hit by global outage linked to Windows PCs,” it got me thinking… What would happen if AI services like ChatGPT, Gemini, etc., went down? Why can’t we use these offline instead of being connected to the Internet? Many organisations are becoming dependent on AI, raising concerns around security and privacy. We would witness significant disruptions across various sectors. Customer service, healthcare, finance, and logistics heavily rely on AI to optimise operations, provide insights, and enhance user experiences. The absence of AI would slow decision-making processes, reduce efficiency, and potentially lead to increased errors. This scenario underscores the critical importance of AI in our modern infrastructure and the need for robust contingency plans to mitigate such risks. https://lnkd.in/e8KFV6QK #AI #Technology #BusinessContinuity #RiskManagement Whitespace

21

1 Comment

In the most recent episode of the Mobile Dev Memo podcast, I speak with Mikołaj Barczentewicz about the EDPB's recent opinion on the Pay or Okay model. We discuss the implications of the EDBP's opinion and the future of the Pay or Okay model for "large online platforms" in the EU. Find this episode wherever you consume podcast content by searching for Mobile Dev Memo.

9

TETHER, TON TEAM UP WITH MOBILE APP USDT-TO-FIAT TRANSACTIONS Cointelegraph: The Open Network users will be able to use Oobit’s Tap & Pay technology to pay merchants in fiat while spending USDT. Transactions with Tether’s USDT and XAUt on The Open Network (TON) will be streamlined thanks to the incorporation of the Oobit mobile payment app, giving merchants a more convenient user experience. Tether USDT and Tether Gold (XAUt) launched on TON in April. XAUt is pegged to the price of one fine troy ounce of gold. More than $200 million in USDT has been issued on TON, and users can send USDT in Telegram messages. Telegram has over 900 million users worldwide. TON also issues its own native Toncoin (TON) on the TON network.In addition to TON, USDT is issued on 14 other blockchains, including Tron and Ethereum. It also joined the Celo network in March. Oobit’s Tap & Pay technology will allow merchants to receive payment in fiat currency even when the customer pays in USDT. In a statement provided to Cointelegraph, Tether CEO Paolo A. said: “Together, we will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient." Tether was among the investors in Oobit’s Series A funding round in February, which raised $25 million. Solana was also an investor. Oobit CEO Amram Adar also emphasized the inclusionary nature of the partnership with Tether and TON. He said: “We’re not just providing another payment option; we’re providing unbanked access to the most prominent cryptocurrencies and worldwide payments using Oobit.” Oobit released its first crypto-to-fiat mobile app in April 2022 and introduced its Tap & Pay feature in September 2023. Tap & Pay uses Near Field Communication (NFC) technology. In March, Oobit integrated VeChain’s VET coin. learn more: https://lnkd.in/d-sqdnW5 #defi #telegram #metaverse #fashion #ai

5

🚨Can UwU Lend Recover From a $19.5M Hack?🔍 DeFi lending protocol UwU Lend was targeted in a rapid $19.5 million theft, executed within just six minutes. This breach underlines the persistent security issues plaguing the DeFi sector. UwU Lend immediately paused its operations following the attack, undertaking significant efforts to remedy the damage and secure its platform. How will it regain user trust? Despite the significant heist, UwU Lend's total value locked astonishingly soared by 135% in a day. What's driving this surge amid the turmoil? Read more below: #recruitment #crypto #blockchain #web3

6

4 Comments