🚀 GM,
Grab your favorite beverage (even if it’s a little early, we won’t tell), and get ready for the juiciest headlines that have been lighting up the Internet this week! 📰
1️⃣ Elon Musk Was ‘Quietly’ Funding Dogecoin, We All Kinda Knew It!
2️⃣ Stake.com Suffered A $40M Hack
3️⃣ Casio’s G-SHOCK NFTs Soon to Go Live on Polygon Blockchain
4️⃣ Editor’s Wrap: Let’s Break Free from the Copy-Paste Craze
Elon Musk Was ‘Quietly’ Funding Dogecoin
It turns out that Elon has been quietly funding the development of none other than dogecoin 🐶, the meme crypto that started as a joke. Even though dogecoin’s price has taken a hit recently, Elon seems to believe in its potential and wants to make it even better than bitcoin. In fact, he once said that he wants dogecoin to become the currency of Earth! 🌍
But here’s the interesting part: before he acquired Twitter for a whopping $44 billion, Elon mulled over creating a new social media platform based on the blockchain. And guess what? He wanted to incorporate dogecoin as a payment system for this platform. 😎
While the level of Elon’s funding for dogecoin isn’t clear, it’s clear that he sees a lot of potential in this cryptocurrency. So much so that he even added the dogecoin symbol to his X account on Twitter (remember?)! 🚀
Now, while Elon has been busy supporting dogecoin development, venture capital funding for crypto companies has hit a bit of a slump. In fact, it’s at its lowest level in two years. But don’t worry, despite the decline, some high-profile companies have managed to raise substantial funds, like BitGo and Tools For Humanity. 💰
So, what’s in store for the future? Well, Elon has been collaborating with Wall Street executives to transform Twitter into an updated version of PayPal. And he’s been snapping up state money transmitting licenses along the way. 😄
Crypto Casino Stake.com Suffered A $40M Hack
Stake.com, the popular online casino and sportsbook, has been hit by a massive security breach. 😱 We’re talking about a $40 million heist! 🦹♂️
It all started when the cybersecurity heroes at Cyvers noticed some very fishy transfers from Stake.com’s Ethereum wallets. The alarms went off as abnormal transactions involving stablecoins like Ethereum, USD Coin, Tether, and DAI were being shuffled around. These tokens were converted into Ethereum and sent off to mysterious external accounts.
Not only did Cyvers raise the alarm, but another security firm called Peckshield also joined urging Stake.com to take immediate action. The rumors started to spread, and before we knew it, on-chain analyst ZachXBT confirmed that a whopping $40 million had been illicitly moved across different blockchain networks. Ethereum, Polygon, Binance Smart Chain – the hacker spared no mercy! 💸
Thankfully, Stake.com was quick to react and reassured its loyal users through a post on X (formerly known as Twitter) that their funds were safe. Phew! They admitted that there had been unauthorized transactions from their Ethereum and Binance Smart Chain hot wallets and that they were hustling to beef up the security of these wallets. Kudos to them for being transparent!
Ed Craven, the co-founder of Stake.com and Australia’s youngest billionaire, also chimed in on X. He spilled the beans that only a tiny fraction of their crypto reserves were kept in these hot wallets for emergencies. Good call, Ed! He also assured everyone that the affected wallets would be up and running again real soon.
Casio to launch virtual G-SHOCK NFTs on Polygon
Casio, the legendary Japanese electronics company, is teaming up with Polygon Labs to launch their virtual G-SHOCK watch collection on the Ethereum scaling platform. 🚀🙌
Starting on September 23rd, lucky users will have the chance to claim one of the 15,000 NFT-based G-SHOCK creator passes. These passes will grant access to an exclusive Discord channel dedicated to the project. How cool is that? 😎
If you’re already a registered Casio customer with a CASIO ID, you can jump in on the action during the pre-distribution stage from September 23rd to 26th. And fear not, my friends, there will be a public distribution phase from September 26th to 29th for everyone else to get their hands on these limited edition NFTs.
Now, here’s the juicy part! Casio recently filed a trademark application covering virtual clothing and watches, NFT-backed media, and virtual goods stores. They’re definitely diving headfirst into the immersive world of virtual assets. With over 100 million units of their iconic shock-resistant G-SHOCK watch shipped since 1983, it’s no wonder they want to capture the digital market too! 🎉
During their first community initiative, Casio is inviting users to submit design ideas for the G-SHOCK creator pass and vote on their favorite. The winning design will become a variant of the NFT pass. So, you have a chance to leave your creative mark on this groundbreaking project!
But wait, there’s more! Casio specifically chose Polygon as their launchpad because it offers lightning-fast transactions and a seamless user experience. Plus, it’s eco-friendly!
The NFT collection will be available in certain countries, including the US, UK, Germany, Japan, and more. So make sure to check if your country is on the list.
Casio is joining some big names in the industry who have also ventured into the Ethereum scaling solution. Think DraftKings, Adidas, and Starbucks. It seems like everyone wants a piece of the NFT action! 🤑
Polygon Labs’ co-founder, Jordi Baylina, expressed his delight at seeing more global brands embracing the decentralization movement. It’s truly a thrilling time to be involved in the web3 world!
Editor’s Wrap: Let’s Break Free from the Copy-Paste Craze
Open-source has always been at the core of the crypto ethos. It’s all about collaboration, transparency, and innovation. We love the idea that anyone can contribute to the creative commons and that the power isn’t monopolized by a centralized authority. 💪
But hey, let’s face the dark side of open-source. Sometimes, great innovations are shamelessly copied, rebranded, and put out there without giving credit where it’s due. Imagine all that effort spent on marketing rather than advancing the baseline technology. It’s like crawling up on the shoulders of giants but accidentally breaking their backs while reaching for those starry riches. 😱
We’ve seen it far too many times. A new ecosystem becomes the hot topic, and suddenly every Tom, Dick, and Harry forks a decentralized exchange (DEX), slaps on a fresh coat of paint, and claims to be the first DEX on the coolest new chain. It’s all about copying and pasting, right? Well, while forking may be necessary, we need innovation to keep crypto from becoming a generic copycat game. 📝
The roots of open-source can be traced back to the mid-90s, evolving from the “free software movement.” Visionaries like Richard Stallman championed the idea that using, modifying, and distributing software should be fundamental human rights. It’s like the digital age’s “freedom of speech.” 🗣️ Open-source licenses, like the permissive MIT license, have played a significant role, focusing more on practical code distribution rather than lofty ideals. It’s a blessing and a curse, my friends. 😇😈
Unfortunately, the term “open-source” sometimes gets thrown around like a marketing buzzword. Many projects claim to be open-source when, in reality, only the basic code is auditable and transparent. Meanwhile, they keep the juicy bits hidden behind closed doors, claiming to protect users from vulnerabilities. It’s not all rainbows and unicorns, folks. 🌈🦄
And let’s not forget about meme coins. Sure, they may seem like decentralized fun at first, but behind those colorful tokens, there’s often a swarm of questionable intentions. For every genuine project that forks open-source code, improves it, and pushes the boundaries of interchain possibilities, there’s a horde of shady characters scheming behind the scenes. We’ve got to stay alert! 👀
But here’s the real kicker: the mind-numbing repetition of successful projects under countless aliases. V3 liquidity? Suddenly, everyone’s obsessed with it, even if they don’t fully understand what it means or does. It’s just a race to implement something without a real vision, resulting in mass confusion and a loss of focus on true progress. We deserve better, don’t you think? 🙄
So, how can we strike a balance with the open-source dilemma? It’s all about incentives, mentorship, and a culture of recognition. Instead of relying solely on financial rewards, ecosystems can establish grant and bounty programs, rewarding developers for improving the code and introducing features that benefit the greater good. And mentorship is crucial. Founders need to understand the long-term consequences of simply copying and repackaging, rather than pushing the boundaries of innovation. We need a decentralized social conscience, my friends!
CoinWestern Quixplaned🏆
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