No crypto plans for X 💯, Tether launch mining software 💥, Social media account hijackers 🧨
Daily Crypto, Blockchain & Web3 Update 2023-08-06
CRYPTOCURRENCY
Tether unveils mining software to boost efficiency and capacity (3 min read)
Tether developers will release JavaScript libraries to make it easier to send commands and signals to Bitcoin mining hardware like WhatsMiner, AvalonMiner, and Antminer.
BTC hodlers outperformed crypto funds by 69% in H1: 21e6 Capital (3 min read)
Crypto funds performed well in previous bull runs, outpacing the price gains of BTC. However, this year they faced challenges due to an excess of cash and risk aversion, resulting in underperformance.
XRP price disappoints after court ruling, Deaton remains optimistic (2 min read)
Despite a brief rally, the XRP price did not reach anticipated levels after a recent favorable court ruling for the token. Among those with ambitious price targets for the cryptocurrency is pro-XRP lawyer John Deaton.
FBI warns of phishing scams and social media account hijackers (4 min read)
The United States Federal Bureau of Investigation (FBI) has warned of criminal actors hijacking social media accounts and posing as legitimate people in the nonfungible token (NFT) and crypto space.
BUSINESS
Alchemix reports return of all stolen funds from Curve pools (2 min read)
Alchemix has recovered all the funds stolen by the Curve Finance hacker. The attack took place on July 30 and resulted in over $61 million in cryptocurrencies being drained, including $13.6 million from Alchemix’s alETH-ETH pool.Â
X will foot legal bills of users unfairly treated by employers for posting or liking content — Elon Musk (2 min read)
Elon Musk stated that his social media company X (formerly Twitter) would fund the legal bills of any user mistreated by their employer for engaging with or posting content on the platform.
New York AG probes transactions at Genesis, ties with Barry Silbert: Report (2 min read)
Digital Currency Group (DCG) is now under scrutiny for its financial transactions involving its subsidiary, Genesis Global Capital. The investigation is reportedly being conducted by New York Attorney General Letitia James, Bloomberg reported, citing sources familiar with the matter.
No crypto plans for X: Elon Musk debunks scam token claims (2 min read)
Elon Musk said his social media platform X (formerly Twitter) will not launch crypto tokens. He made this statement in response to a post about questionable X and Twitter-based digital currencies on Saturday, Aug. 5.