Kamala Harris is reportedly considering Michigan Senator Gary Peters as her running mate for the 2024 presidential election, according to a recent article from Axios.
The suggestion to include Peters on the ticket is primarily driven by labor unions, who believe his addition could boost Harris’s appeal in the crucial battleground state of Michigan.
Axios reports that Peters is open to the idea of joining Harris as her vice-presidential candidate and is currently seeking support from fellow Democrats to bolster his position.
Gary Peters has a notable stance on cryptocurrency. Stand With Crypto, a nonprofit political advocacy group, describes him as “strongly against crypto.”
The group highlights his co-sponsorship of the Digital Asset Money Laundering Act in 2023, aimed at preventing the use of cryptocurrencies in financing terrorism.
This legislation sought to restrict the use of digital assets in such activities, with Peters writing to National Security Advisor Jake Sullivan: “Given the clear and present danger posed by the financing of these and other militant organizations, we ask the Administration to provide additional details on its plan to prevent the use of crypto for the financing of terrorism.”
Despite his tough stance on crypto, Peters has shown some flexibility.
He supported the repeal of SAB-121, which would have required banks holding digital assets for customers to record these as liabilities on their balance sheets.
In contrast, Kamala Harris has remained largely silent on her policy direction for digital assets under a potential administration.
However, there are differing views on her approach. Entrepreneur Mark Cuban suggests Harris is “far more open” to business and innovation than is commonly believed, while Riot Platforms CEO Jason Les is skeptical that she would diverge significantly from the Biden administration’s policies.
Adding to the discourse, some Congressional Democrats have urged Harris to shift from the party’s perceived hostility toward cryptocurrencies and engage in dialogue with the digital asset industry.
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INTMAX and 3AM JAPAN have entered into a strategic partnership to develop sustainable Web3 loyalty programs. This collaboration combines INTMAX’s advanced blockchain technology with 3AM JAPAN’s extensive expertise in creating and managing loyalty programs.
Despite the growing interest in Web3 loyalty programs, many face significant challenges, particularly regarding data storage and privacy.
Yohei Nishikubo, CEO of 3AM JAPAN, highlighted these issues, stating, “We have been working closely with Japan’s largest loyalty program providers and have identified data storage and privacy as two critical challenges.”
Existing blockchain solutions often require large amounts of disk space and are limited in transaction processing capacity. For example, popular Layer 2 blockchains can need around 1.8 terabytes of extra storage per month for each full node, with a maximum processing speed of 50 transactions per second (TPS). This setup can become unmanageable, especially when scaling to accommodate millions of users.
INTMAX offers a solution with its stateless zkRollup blockchain technology. Unlike traditional blockchains, INTMAX does not store individual transaction details or account states on the blockchain, significantly reducing data storage requirements. Instead, transaction details are kept as proof sets on the devices of senders and recipients. “INTMAX fundamentally eliminates storage and privacy concerns,” said Leona Hioki, CEO of the INTMAX Project.
The issue of privacy is also crucial in the Web3 era. Storing sensitive data on a public blockchain can pose significant risks, especially for businesses operating under strict regulatory conditions. INTMAX’s approach mitigates these risks by not recording personal data on the blockchain, thus ensuring compliance with data management regulations.
3AM JAPAN plans to integrate INTMAX’s technology with its own systems, including a patent-pending user wallet that supports both custodial and non-custodial operations and addresses potential threats from quantum computing. “Our partnership with INTMAX reflects our commitment to delivering sustainable and secure Web3 solutions,” added Nishikubo.
For everyone who has been following the digital footprints of popular cryptocurrencies in the market, Litecoin (LTC) has been the coin to look out for over the last couple of days. It is rare that a coin processes $2.8 billion in transactions over $100K daily and exceeds 50% of its market cap, outperforming most Layer 1s, including Dogecoin. There are speculations that the price of LTC is about to go over the roof, but what exactly is fuelling its performance?
What Makes LTC Worthy of Attention?
Litecoin, often hailed as the silver to Bitcoin’s gold, is one of the oldest altcoins inspired by Bitcoin back in 2011. It is a blockchain and cryptocurrency that was forked from Bitcoin and intended to be used primarily as a payment method. It is open-source and boasts lower transaction fees and faster transactions, rendering it suitable in many use cases.
Litecoin has been used in peer-to-peer transactions, trading on decentralized exchanges, e-commerce, DeFi, and even gaming at LTC casino sites. These online gambling platforms allow users to deposit and withdraw funds using Litecoin. It has since become the preferred option over fiat and other cryptocurrencies, mostly due to the ease and speed of the transactions on its blockchain. The popularity of LTC continues to fuel the development of these platforms, and as these platforms grow, so does the popularity of LTC.
Additionally, it seems that the crypto market is gearing up for altcoins as Bitcoin’s dominance dips. With Litecoin leading the pack as a trusted, secure, and speedy Blockchain network, there is more than one reason for big-wallet investors to keep looking in its direction.
Popular Meme Coin, DOGE, has Nothing on LTC?
Dogecoin was forked from Litecoin just like Litecoin was forked from Bitcoin. Both coins are based on the Proof-of-Work (PoW) consensus algorithm, but they have slightly different appeals.
When it comes to meme coins, DogeCoin is one of the leading coins, with a market cap of over $15 Billion. In contrast, Litecoin has a market cap of about $5 Billion, meaning Dogecoin has roughly three times the market cap of LTC. In spite of this, data from In the Block’s on-chain activity analysis reveal that DOGE has just about $590 million in large transactions in comparison to LTC’s $2.85 billion. Undoubtedly, Dogecoin has captured public attention with the social media hype around it, but it seems that Litecoin is where those with the big wallets are transacting.
It is quite interesting to see this surge of investor activity on the LTC network. As of late May, LTC’s price had dipped by about 8%. Around the same time, more investors created new wallets numbering close to four hundred thousand on the network, signalling that people were buying the dip. But why?
What Does the Future Hold for Litecoin?
While Litecoin offers some impressive security features, and its lower transaction fees make it attractive to payment platforms and local and offshore casinos alike, we cannot credit just these factors for the new wave of attention on LTC.
In the past six years, Litecoin has undergone two halvings. With the increased demand for the coin despite limited supply, it is expected that Litecoin will grow in value. Predictions for the coin are consistent growth for the rest of the year and beyond. Litecoin’s strong fundamentals and adaptability to real-world use cases give it an edge over meme coins like DOGE.
Massive on-chain activity on the LTC network suggests investors are gearing up for months of massive gains ahead. But if there is anything every crypto enthusiast knows, it is never to try to predict the future. So, keep your fingers crossed.
In today’s digital age, cybersecurity has become a critical concern for individuals and organizations alike. With the increasing frequency of cyber-attacks and data breaches, traditional security measures are proving inadequate. Blockchain technology, initially developed for cryptocurrencies, is emerging as a powerful tool to enhance cybersecurity. Its unique attributes, such as decentralization, immutability, and transparency, make it a game-changer in the field of digital security.
Leveraging Blockchain for Cybersecurity
DigiPortal, under the leadership of Killian Smith, is at the forefront of utilizing blockchain to bolster cybersecurity. By implementing blockchain technology, DigiPortal has successfully enhanced data protection, ensuring that sensitive information remains secure and tamper-proof. Real-world applications and success stories highlight the effectiveness of this approach.
Key Benefits of Blockchain in Cybersecurity
Blockchain offers several key benefits for cybersecurity, revolutionizing the way data is protected and managed. This section provides a detailed explanation of these benefits, such as data integrity, transparency, and immutability.
Data Integrity and Immutability
Blockchain ensures data integrity by recording information in a way that is tamper-proof. Each block of data is cryptographically secured and linked to the previous block, making it nearly impossible to alter. This immutability feature is crucial for applications requiring high data integrity. Examples include financial transactions and health records, where any alteration can have severe consequences.
Decentralization and Reduced Risk
Decentralization is a core feature of blockchain technology, distributing data across a network of nodes rather than a single central point. This reduces the risk of single points of failure and makes it harder for cybercriminals to attack. Decentralized systems are more resilient and can continue operating even if some nodes are compromised. Case studies from various industries demonstrate the practical benefits of this approach.
Blockchain Applications in Cybersecurity
Blockchain’s applications in cybersecurity span various industries, each benefiting from enhanced security measures. This section will overview these applications, highlighting key sectors.
Financial Services
Blockchain is securing financial transactions and preventing fraud in the banking sector. By creating an immutable ledger of transactions, blockchain reduces the risk of fraudulent activities. A real-world example includes the use of blockchain by major banks to streamline and secure cross-border payments.
Healthcare Industry
The role of blockchain in protecting sensitive healthcare data and ensuring patient privacy is significant. Blockchain can securely store patient records, ensuring they are only accessible to authorized personnel. Statistics show a reduction in data breaches in healthcare institutions that have adopted blockchain technology. A case study of a hospital using blockchain for patient data management can be included.
Supply Chain Management
Enhancing security and transparency in supply chains through blockchain is another critical application. Blockchain can track the provenance of goods, ensuring their authenticity and reducing fraud. A diagram or flowchart illustrating the supply chain process with blockchain integration can be helpful.
Challenges and Limitations of Blockchain in Cybersecurity
An honest discussion on the current challenges and limitations of implementing blockchain technology in cybersecurity is necessary. This section will use a table to list pros and cons.
Scalability Issues
Explore the scalability challenges blockchain faces and potential solutions. As the number of transactions increases, the blockchain can become slower and less efficient. Various scaling solutions, such as sharding and layer 2 protocols, are being developed to address these issues.
Regulatory and Compliance Concerns
Discuss regulatory hurdles and compliance issues related to blockchain adoption in cybersecurity. Different countries have different regulations regarding blockchain and cryptocurrency, which can hinder widespread adoption. Understanding and navigating these regulatory landscapes is crucial for businesses looking to implement blockchain solutions.
Future Trends in Blockchain and Cybersecurity
Insight into future trends and advancements in blockchain technology that could further enhance cybersecurity will be discussed. This section will include a bulleted list of upcoming trends.
Integration with AI and Machine Learning
How AI and machine learning can be integrated with blockchain for improved security measures. AI can help in detecting anomalies and potential threats, while blockchain ensures the data used by AI is secure and trustworthy.
Quantum-Resistant Blockchain
The development of quantum-resistant blockchain technologies and their potential impact on cybersecurity. As quantum computing advances, traditional cryptographic methods may become vulnerable. Quantum-resistant blockchains aim to address these future threats.
Conclusion
Summarize the key points discussed in the article and the potential of blockchain technology to revolutionize cybersecurity. Emphasize the importance of staying updated with technological advancements. Blockchain offers a promising solution to many of the current cybersecurity challenges, but continuous innovation and adaptation are essential.
BlackRock‘s spot Bitcoin exchange-traded fund (ETF) recently experienced its largest day of inflows in over four months, with more than $523 million entering the fund on Monday.
The iShares Bitcoin Trust ETF (IBIT) acquired 7,759 Bitcoin on July 22, valued at just over $523 million at the time of writing, according to Hey Apollo data shared by its co-founder on a July 23 X post.
These inflows bring the total assets under management for IBIT to 333,000 BTC, which is approximately $22 billion at current prices.
This day marks the seventh-largest inflow day in terms of US dollars for IBIT.
The largest single-day inflow for IBIT occurred on March 18, when $849 million worth of BTC was added to the fund.
The second-largest inflow day was on March 5, with the fund receiving $788 million in inflows, according to FarSide Investors data.
The significant inflows into BlackRock’s fund coincided with the approval of several spot Ether ETFs for trading in the US.
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Industry analysts predict that spot Ether ETFs will generate 10% to 20% of the inflows that spot Bitcoin ETFs have seen since their launch in January.
Additionally, several analysts expressed optimism about Bitcoin’s short to mid-term prospects in conversations with Cointelegraph on July 21.
They cited US President Joe Biden’s sudden withdrawal from the presidential race and the increased chances of a Trump victory as positive factors for Bitcoin’s price.
Markus Thielen, founder of 10x Research, speculated that Republican Party nominee Donald Trump might announce Bitcoin as a strategic reserve asset at the upcoming Bitcoin 2024 conference in Nashville, Tennessee, on July 25.
Thielen suggested that such an announcement could lead to a “parabolic” price increase for Bitcoin in the following weeks.
Bryan Courchesne, founder of the crypto asset management firm DAIM, echoed this sentiment on July 22, indicating a strong possibility of Trump officially recognizing BTC as a strategic reserve asset at the conference.
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Digital asset manager Grayscale has announced that its two spot Ether exchange-traded funds (ETFs) have begun trading on the NYSE Arca.
This marks a significant “milestone” for investors and the broader ETF market.
The launch followed the United States Securities and Exchange Commission (SEC) granting final approval for spot Ether ETFs, paving the way for various issuers to start trading their products.
Bloomberg analyst James Seyffart noted on July 22 that while the Grayscale Ethereum Trust (ETHE) hadn’t yet received official SEC documents, they were expected by the morning of the first trading day.
ETHE, currently the world’s largest Ether-based exchange-traded product, holds $9.19 billion worth of ETH and charges a 2.5% management fee.
Grayscale’s second product, the Grayscale Ethereum Mini Trust (ETH), will not charge fees for the first six months or until it manages $2 billion in net assets.
After meeting either condition, a 0.15% fee will be applied, making it the most affordable spot Ether ETF in the U.S.
“ETH and ETHE will allow investors to invest in Ethereum’s potential to create markets, transform financial systems, utilize decentralized finance (DeFi), and drive innovation through the trusted ETP wrapper — without the need to buy, store, or manage Ethereum directly,” Grayscale’s managing director John Hoffman stated to Cointelegraph.
READ MORE: NYSE Arca Approves Listing of Grayscale and Bitwise Spot Ether ETFs, Awaiting SEC Authorization
In addition to Grayscale, Ether ETFs from BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck, and Invesco Galaxy also received approval to start trading on July 23.
In preparation for the launch, Grayscale transferred over $1 billion worth of ETH to Coinbase on July 22.
The transfer involved 292,263 Ether, aligning with Grayscale’s plan to move this amount from ETHE to its Ethereum Mini Trust, as outlined in a July 18 filing.
This move is expected to ease potential outflows from Grayscale, according to Seyffart, who commented on X on July 17. Existing ETHE holders will receive the new Ether-backed product at a 1:1 ratio, avoiding capital gains tax.
Bloomberg analysts Seyffart and Eric Balchunas predict that the new spot Ether ETFs could attract 10% to 20% of the inflows seen by spot Bitcoin ETFs since their launch.
However, Matt Hougan, Bitwise’s chief investment officer, believes spot Ether ETFs might have a more substantial impact on Ether’s price than spot Bitcoin ETFs had on Bitcoin.
He anticipates Ether’s price could surpass $5,000 before the end of 2024.
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CrowdStrike CEO George Kurtz has addressed recent downtime issues experienced by the cybersecurity firm, reassuring customers that the incident was neither a security breach nor a cyberattack.
In a post on the X social platform, Kurtz explained that the downtime was caused by a defect in a content update affecting Windows hosts.
He emphasized that Mac and Linux hosts were not impacted by this defect.
Kurtz elaborated that the issue stemmed from a specific content update for Windows hosts.
He stressed that it was not related to any security incident or cyberattack. The defect has been identified, isolated, and fixed.
He urged customers to check the support portal for the latest updates and to communicate with CrowdStrike representatives through official channels.
The global outage caused significant disruptions across many systems running Microsoft’s Windows, affecting critical services such as emergency services, banking, air travel, and broadcasting. This issue appears to be linked to CrowdStrike’s cybersecurity software.
READ MORE: Worldcoin Faces Allegations of Price Manipulation Amid Token Unlock Delay
Kurtz’s clarification should reassure users concerned about the downtime’s potential implications.
On July 18 at 11:41 pm UTC, Microsoft 365 Status reported on X that it was investigating an issue preventing access to various Microsoft 365 apps and services.
By 7:55 am UTC, Microsoft announced progress in restoring availability to multiple services and continued troubleshooting efforts.
The crypto community quickly seized the opportunity to create a series of new memecoins on Ethereum and Solana, inspired by CrowdStrike and the infamous “Blue Screen of Death” error screen.
According to CNBC, CrowdStrike’s stock had surged 118% over the past year.
However, following the downtime incident, shares plummeted 15% in premarket trading on July 19.
Meanwhile, rival cybersecurity firms saw their stock prices rise, likely due to investors anticipating that businesses might switch to competing services.
Kurtz’s updates aim to maintain customer trust and ensure transparency, highlighting the steps taken to resolve the issue and prevent future occurrences.
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Cryptocurrency self-custody, where the owner has exclusive control over their crypto holdings, is gaining traction with the introduction of a new wearable cold wallet.
On July 17, hardware wallet firm Tangem announced the Tangem Ring, a self-custodial crypto wallet designed as a ring.
Tangem’s chief technology officer, Andrey Lazutkin, explained that the Tangem Ring combines self-custody with wearables to promote daily cryptocurrency use. He said:
“We believe that cryptocurrency should bring daily benefits to humanity, not just sit in a bank vault.
“In other words, cryptocurrency should be used on a daily basis. And we in Tangem want to create a device for this daily use.”
The Tangem Ring raises questions about the security of carrying such a wallet in public.
Lazutkin assured that the ring has protections similar to Tangem’s Visa-integrated hardware wallet in card form.
He stated, “The ring, like the Tangem wallet in card form, is protected by an access code. Even if stolen, access to cryptocurrency will be blocked.”
He emphasized the ring’s security, noting it contains an EAL6+ secure element, making it nearly impossible to hack.
Alex Gomez, founder of CyberScrilla, highlighted the need for mobile wallets like the crypto ring, as crypto owners can’t always manage their holdings from their desks.
He added, “Even if you lose it, there are security measures in place to ensure that no one can access your crypto, even if they discover that the ring is a crypto wallet.”
Jennifer Ghelardini, a research analyst at KasMedia journal, supported the concept, mentioning other wearable self-custody wallets such as Ledger’s necklace pendants and keychains.
READ MORE: Ava Protocol Announces Mainnet Launch on Ethereum as EigenLayer AVS for Smart Contact Automation
She said, “I love the idea of having an inconspicuous way to carry your crypto with you, so you will be able to sell or trade when traveling.”
Regarding regulation, the Tangem Ring will initially launch without payment capabilities.
A Tangem spokesperson stated, “The crypto ring we are launching today will be available for pre-order and will begin shipping to users from the end of October.” Integration with the Visa payment chip is planned for 2025.
The Tangem Ring will be available in all countries where Tangem Pay operates, including Europe and the UK. European regulators have shown concern about self-custodial solutions and related payments.
However, a proposed $1,100 limit on crypto payments from self-custodial wallets was ultimately scrapped by the European Parliament.
This development coincides with major crypto payment firms embracing self-custody, launching solutions that combine self-custodial ownership with day-to-day payments.
Industry executives believe self-custody will drive the adoption of crypto payments.
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Confidential computing technologies have the potential to unlock the next $1 trillion in capital for the cryptocurrency ecosystem.
Advances in privacy technologies, such as fully homomorphic encryption (FHE), could drive this growth, according to Remi Gai, founder of Inco.
Speaking exclusively to Cointelegraph during the FHE Summit 2024, Gai stated: “There’s the next trillion dollars of opportunities because if you think about what we’re building, it’s enabling creators to build more applications. So first, we’re growing the pie of what’s possible in Web3.
A lot of these use cases in Web2 just cannot work in Web3 because we’re missing this confidentiality aspect.”
Inco is a modular confidential computing network that builds FHE-based solutions, aiming to become the confidential computing layer of the blockchain.
For the crypto space to achieve mass institutional adoption, greater privacy is essential.
Mainstream institutions are often hesitant to join the decentralized finance (DeFi) space due to the lack of privacy in Web3. Confidential computing technologies could change this, as Gai explained:
“Institutions are still having a hard time entering the space because everything is transparent.
Now, if you enable an experience similar to what they’re comfortable with in Web2, suddenly this could bring a lot more liquidity, use cases, bigger participants, and money to enter the space.”
Gai emphasized that encryption is not about anonymity but about securing valuable information.
He likened it to the secure sockets layer (SSL) of the internet, saying:
“If blockchain is the value layer of the internet, then you need the SSL equivalent. A lot of people still think encryption means anonymity.
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“No, it just means that you need to take certain pieces of information that are valuable through encryption.
“And that is what we’re missing today.”
Advancements in confidential computing will not only attract institutional investors but also retail investors.
Gai mentioned that new use cases created by these technologies would bring additional liquidity from both sectors:
“If you think about the new use cases it will create, it will also attract net new users.
“That will also bring in liquidity. So it could also trickle down to retail. It doesn’t have to be just institutions.”
The influx of new liquidity will largely depend on the disruptive potential of the use cases introduced by confidential computing advancements.
These technologies promise significant benefits for financial institutions by enabling computations on encrypted data without decryption, exemplified by fully homomorphic encryption (FHE) solutions.
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A Nigerian court has set October 11 as the date for delivering the verdict in the tax evasion trial against cryptocurrency exchange Binance.
The exchange is facing four counts of tax evasion, including failure to register with Nigeria’s Federal Inland Revenue Service (FIRS).
Binance lawyer Ayodele Omotilewa appeared in court on July 12 and entered a not-guilty plea to all charges before Judge Emeka Nwite.
Omotilewa argued for the dismissal of the charges, citing lack of substance, similar to the dismissal of charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla in June.
The executives were cleared of tax evasion charges by the Federal High Court in Abuja, though they still face separate money laundering allegations.
The court’s decision to adjourn the case until October allows for further deliberation and evidence review by both the defense and prosecution.
Background details reveal that Anjarwalla and Gambaryan were detained in February during a visit to Nigeria amid allegations of tax evasion and money laundering.
READ MORE: German Government Resumes Bitcoin Sales, Sparking Market Volatility Concerns
Binance appointed Omotilewa after the FIRS amended charges, dropping tax evasion allegations against its executives.
Regarding recent developments, Binance has refrained from commenting, previously asserting that charges should be dismissed.
Nigeria attributes currency issues partly to Binance, claiming cryptocurrency platforms exacerbate the Nigerian naira’s trading preferences amid dollar shortages and currency devaluation.
The crackdown on cryptocurrency activities aligns with the National Security Adviser’s view that cryptocurrency trading poses national security risks.
In response, the Central Bank of Nigeria (CBN) directed fintech companies to identify and report accounts involved in cryptocurrency transactions, impacting Binance’s operations.
In a July 6 court appearance, the CBN’s payment policy and regulation chief advocated restricting deposit and withdrawal transactions for Binance to banks and authorized financial institutions.
These legal developments underscore ongoing regulatory challenges facing Binance and other cryptocurrency platforms in Nigeria, amidst broader geopolitical and economic implications.
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