“Bring Back Tone Weiss” is a news podcast with the editors and friends of ForkLog about the main industry events of the week.
Topics of the issue: overload of power grids by Makhachkala miners, risks of BitcoinETF for the industry, TUSD deposits, UN claims against Tether, Ethereum hard fork and a new smartphone from Solana Mobile.
Contributed by: ForkLog Lena Jess, Alex K., Vasily Smirnov.
Special guest: founder of the AML platform StarCompliance.io Taras Podgorodetsky.
Miners of Dagestan
Dagestan energy workers together with law enforcement officers discovered an illegal mining farm in the Kirovsky district of Makhachkala. Its operation caused a significant overload of the power grid.
According to the law enforcement report, energy losses amounted to about 70%, which affected the supply of almost 1.5 thousand residents and ten commercial facilities.
Earlier, representatives of Dagenergo asked Bitcoin miners to turn off their farms during the cold period.
ETF risks
Approval of spot Bitcoin ETFs carries not only well-known benefits, but also significant risks. Among the main ones, experts name the centralization of the asset, the emergence of a single point of failure and a new type of double spending, as well as the growing influence of institutional players on the development team.
Read more about the problems that the industry may face after the approval of ETFs in ForkLog.
Depeg TUSD
On January 15, the “stable coin” TrueUSD (TUSD) lost parity with the US dollar, falling 1.3% to $0.984.
The loss of the peg occurred against the background of a significant volume of TUSD sales on the Binance crypto exchange.
According to report Protos, the stablecoin’s security engine, encountered several errors in its API and was unable to calculate the dollar value of its collateral assets.
UN Claims to USDT
The USDT stablecoin has become one of the popular tools among scammers and money launderers. This is stated in report United Nations Office on Drugs and Crime.
According to the organization, the asset is increasingly being used in romance scams and pig butchering schemes, as well as in the online casino black market in Southeast Asia.
Tether, the issuer of USDT, issued a statement criticizing the UN’s position. According to company representatives, the organization’s experts did not take into account their cooperation with authorities and law enforcement around the world.
Ethereum hard fork
The Ethereum core team has deployed the Dencun (Cancun-Deneb) update to the Goerli testnet. However, the hard fork could not be completed as planned, presumably due to the fact that approximately a fifth of client operators did not update the software (there were several of them).
Read about what the Dencun hard fork is in the special ForkLog material.
Saga2 development
Solana Mobile has opened pre-orders for the second version of the Web3 smartphone – Saga Chapter2. The cost of the device is $450.
You can read more about what is currently known about the smartphone in the large ForkLog material.
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ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2024-01-20 14:32:30
#life #ETF #TUSD #deposits #claims #Tether #ForkLog
