After quite a scandalous 2022, crypto enthusiasts have been wearing their hearts on their sleeves, anxiously waiting to see how 2023 turns out. The following is a compilation of significant events that offer a reflection of how 2023’s crypto landscape looks so far
Forget making weapons. Nuclear power can power Bitcoin too!
Calls to make the crypto industry more eco-friendly have been consistently loud in recent times. And while Ethereum responded first, Bitcoin has made a late but extremely fashionable entrance!
That is because Terawulf, a Bitcoin mining company will soon begin drawing its power from the Susquehanna nuclear power station in Pennsylvania. The result? Zero carbon emissions!
How awesome is that? Thinking about something else other than weapons of mass destruction when the word “nuclear” is mentioned? Thanks Cumulus Data! Well done. Really well done.
Crypto banks borrowed over $13 billion to resist the effects of a surge in withdrawals
Desperate times, desperate measures. Many crypto holders have been withdrawing their assets en masse from crypto banks. And after 2022, it would be hard to completely hate them for that.
But crypto is here to stay and so are the banks. In an effort to avoid collapse due to lack of assets, crypto banks have borrowed over $13 billion from the Federal Home Loan Banks System.
Signature Bank borrowed about $10 billion and Silvergate requested about $3 billion. Here’s to wishing them luck. Please stay afloat!
Binance: A scholarship for you, you, and you! 30k of y’all!
Binance may have quickly stepped back from bailing out FTX from the consequences of Sam Bankman-Fried’s moves. But that don’t mean the people at Binance are heartless.
Matter of fact they are very generous guys. Sam had just done too much. That is because to steer the development of Web 3.0, Binance will sponsor 30,655 students to study Web 3.0.
I mean, just how kind of them is that?! We wonder if they’d have the cash to do that if they had tried to bail out FTX. Oops. Just a thought.
Ethereum could use a little more stealth, says Vitalik Buterin
A parent often understands their child’s needs better than anyone else. And as the founder of Ethereum, Vitalik Buterin knows Ethereum users have been enjoying a lot of everything else.
Everything else except privacy. In his words, “using the entire suite of Ethereum applications involves making a significant portion of your life public for anyone to se and analyze.”
The solution? Ethereum might introduce “secret spending keys” and “stealth meta-addresses.” All powered by a system called the Diffie-Hellman Key Exchange. Sounds quite stealthy, innit?
Remember that $100 Mil? It was Lazarus! FBI Confirms
As noted earlier, 2022 was pretty scandalous. And the theft of $100 million from Harmony’s Bridge, Horizon in June was among the events that made last year so dramatic.
Turns out that one of the most notorious hacker collectives in the world, the Lazarus Group (all the way from North Korea), was behind the whole thing. The FBI has confirmed so.
While the hacker group is quite conniving, the FBI figured them out by monitoring their past crypto-laundering patterns. Here’s to hoping Lazarus doesn’t get any more luck this year. Gosh!
Conclusion
2023 may still be ripe but it is obvious it is not going to be a boring year. At least not for the crypto industry. We can’t wait to see what new developments come up. Stay tuned. We’ll be here to update ya!
