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Ledger CEO explains what makes a wallet secure as Ledger Flex launches
Ledger CEO Pascal Gauthier claimed that Stax and Flex feature the “only secure touchscreens in the world,” saying that screens on mobile devices are not secure.
Hardware wallet provider Ledger has released a new touchscreen wallet following the introduction of its first touchscreen model, Ledger Stax.
Gauthier also highlighted that, similar to Stax, the new product features a new interface on an E Ink touchscreen. The executive said their touchscreen devices feature near-field communication (NFC) logins using its Ledger Security Key feature.
Along with the Flex, the company has also launched Ledger Security Key. This feature is available on its Stax and Flex products and can be used for two-factor authentication (2FA). Gauthier said:
“This allows secure, passwordless login to many services using the open FIDO2 standard for passkeys. It can also be used for 2FA.” Read More
Compound Finance proposals elicit ‘governance attack’ allegations
Community risk assessors warned against the perceived centralization effort days before the proposal’s passage.
Compound Finance, a decentralized lending and borrowing protocol, appears to be going through a tumultuous community disagreement over governance, according to community forums and a slew of recent proposals.
The passage of proposal 289 on July 28 appears to have been the catalyst for a series of social media allegations that a governance attack has occurred, perpetuated by a voting bloc called the “Golden Boys.”
Over on the Compound governance message boards, insiders specifically warned such an event would occur just days before as discussions over the proposals played out. Read More
Cynthia Lummis' Home State of Wyoming to Launch Bitcoin Research Institute
The institute will focus on producing "high-quality” studies on Bitcoin, aiming to close knowledge gaps stemming from misguided research.
Bitcoin supporter Senator Cynthia Lummis’ home state of Wyoming will soon host the UW Bitcoin Research Institute, hoping to close the gap in studies centered on the world’s largest crypto.
Set to open sometime in the Fall within the College of Arts and Sciences at the University of Wyoming, the institute will focus on producing "high-quality” studies on Bitcoin.
Bradley Rettler, an Associate Professor at the university and a Bitcoin advocate, announced the news on X and will serve as the institute’s director.
Rettler believes current academic research on Bitcoin often falls short due to a lack of understanding. Read More
Artists sue SEC over confusing security status of NFTs
Attorneys representing the artists drew parallels to Taylor Swift concert tickets, which are often sold on the secondary market.
Two artists have sued the United States securities regulator to determine whether non-fungible tokens fall under the commission’s authority.
Attorneys representing the plaintiffs — law professor and filmmaker Brian Frye and songwriter Jonathon Mann — sought clarification on which acts could trigger US securities laws when creating and selling NFT art.
Attorneys have asked whether artists need to “register” their NFT art before selling it to the public and whether they must make public disclosures about the “risks” of buying their art, the July 29 court filing shows.
Frye and Mann’s attorneys used Taylor Swift concert tickets as an example, arguing it would be absurd for the Securities and Exchange Commission to class NFTs as securities. Read More
The Top Ten Cryptocurrency Blunders: A Must-Read Guide for All Investors
Are you eager to maximize your returns in the cryptocurrency market? If so, it's crucial to avoid common pitfalls that could lead to significant financial losses. This comprehensive guide will delve into the ten most critical errors crypto investors often make, which can result in substantial monetary losses. By understanding and avoiding these mistakes, you can ensure that your investments not only avoid unexpected setbacks but also thrive, leading to significant profits that can potentially change your financial future. Read More
SEC backs down on claiming SOL, ADA, MATIC, other tokens are securities in Binance suit
The SEC has retracted its request for a court ruling to classify tokens such as Solana, Cardano, Polygon and others as securities.
The United States Securities and Exchange Commission (SEC) is no longer asking a court to decide and deem the tokens named in its lawsuit against crypto exchange Binance as securities.
On July 30, the SEC filed a response to the court’s minute order on July 9, 2024. In the filing, the SEC wrote that it seeks to amend its complaint regarding the “Third Party Crypto Asset Securities” defined in its opposition to Binance’s motion to dismiss.
According to the SEC, this removes the need to “issue a ruling as to the sufficiency of the allegations as to those tokens at this time.” This means the government agency no longer asks the court to decide whether the affected tokens are securities. Read More
What’s next for UK crypto regulations after Coinbase’s $4.5M fine?
The FCA’s fine points to a “one-off” enforcement action, not a wider crackdown on the industry, according to a legal expert.
Cryptocurrency investors are concerned about a potential regulatory crackdown in the United Kingdom after the UK-based arm of crypto exchange Coinbase was fined.
Investor worries arose on July 25 after Coinbase’s UK arm was fined $4.5 million for breaching a voluntary user agreement with the Financial Conduct Authority (FCA) that would prevent it from onboarding customers considered “high risk” by the regulator.
In a particularly concerning sign, the fine marks the first instance the FCA has taken enforcement actions based on the Electronic Money Regulations 2011 Act.
While some investors worry that this could signal more scrutiny for other cryptocurrency exchanges in the region, legal experts don’t see it as a threat to the wider ecosystem. Read More
Why the US's $35 Trillion National Debt is ‘Good for Bitcoin’
While rising national debt is eye-catching, it doesn’t provide a full picture, Rich Rosenblum, co-founder of trading firm GSR, told Decrypt.
The U.S. federal government's outstanding borrowing has now reached a staggering $35 trillion.
In the past and among other nations, rising national debt has led to increased inflationary pressures and eroded confidence in traditional fiat currencies.
Yet unlike other times in history, sovereign nations and investors alike have an opportunity to buy crypto as a hedge against those pressures, Rich Rosenblum, co-founder of trading firm GSR, told Decrypt.
“The fact that much of the world has ballooning debt and is arguably in a ‘debt trap’ is the part that’s really good for Bitcoin,” Rosenblum said.
In such environments, investors often seek out alternative stores of value, such as gold. Bitcoin, often dubbed "digital gold," has been seen by some as a hedge against inflation and currency devaluation due to its decentralized nature and limited supply.
While rising national debt is eye-catching, it doesn’t provide the full picture, Rosenblum added. Read More
Latam Insights Encore: El Salvador Shows Bitcoin Can Be a Catalyst to Power Tourism
The positive influence of Bitcoin is reaching beyond its original function, that is fixing money and monetary policy dynamics. A recent investment climate report prepared by the U.S. Department of State has highlighted that Bitcoin has been a catalyst for increasing the attention and publicity over El Salvador after enacting a law that declared the original cryptocurrency as a legal tender in the country in 2021.
The U.S. Department of State declared that this adoption had brought the country to the spotlight, being an important part of the speedy recovery of the tourism industry in El Salvador during the post-COVID era. The report even states that the impact in this regard has been even higher than the effect it had on the Salvadoran economy, assessing that besides this, it has affected the economy only minimally, as few Salvadorans use bitcoin.
Ignoring the statements regarding bitcoin adoption, the impact of bitcoin in other areas of the Salvadoran economy is important at a social level, showing that bitcoin can be a catalyst for bringing wealth to countries. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
