🚀 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 Tackling Bots on X: Is a $1 Fee Sufficient?
2️⃣ Inside SBF’s Trial
3️⃣Crypto’s Role in Israel-Gaza Conflict: Separating Fact from Fiction
4️⃣Editor’s Wrap: How Crypto and Corruption Collided in a Local Election
Tackling Bots on X: Is a $1 Fee Sufficient?
Lights, camera, action! X (previously known as Twitter) has unveiled a new plan to charge new users a mere $1. But will this be enough to put an end to the bot mayhem? Let’s dive into this drama and see if X’s latest move can save the day, Hollywood-style.
Picture this: verified accounts on X are constantly bombarded by pesky phishing bots. They swoop in, like paparazzi trying to catch the attention of unsuspecting users. Clicking on their deceitful links brings nothing but disappointment (and a drained wallet) a few minutes later. It’s like a bad sequel that just won’t end.
Questioning the $1 Fee
So, X has decided to charge new users a buck to access critical functions like posting, replying, and liking. But hold on a minute! Previous attempts to charge users have been about as successful as a superhero movie remake. These sneaky bots have found a way to beat the system, especially when it comes to X’s premium service.
A Better Script
While the $1 fee might deter some bots, we believe there are more effective measures. Enhancing reporting mechanisms could be the superhero we need to combat these cyber villains. Like a dedicated detective on a mission, we must ramp up efforts to identify and shut down these scam accounts. It’s a never-ending battle, but with the right tools, we can see some real box office success!
Blue and Gold Checkmarks
The Enigmatic Stars: But wait, there’s a catch! Even with the new fee, those blue and gold checkmarks can still pull off their wicked schemes. They remain immune to the charges, leaving our unsuspecting users vulnerable. To truly protect our crypto-loving community, we need to tighten the belts on vetting. Let’s give those scam ads a one-way ticket to obscurity and keep the spotlight on the real stars.
Lights, Camera, Blockchain!
In a surprising twist, some crypto funds are suggesting that blockchain might be the hero we’ve been waiting for. With the power of blockchain’s Proof of Personhood and Decentralized Identity (DID) methods, we can bring harmony back to the crypto universe. These technologies could keep the bots at bay, allowing the true stars to shine brightly.
In the End
So, can a $1 fee save the day and protect our beloved X users from the bot apocalypse? While it adds some spice to the plot, we’re not convinced it’s the ultimate solution. Our focus should be on improving reporting measures, tightening vetting processes, and embracing blockchain’s potential.
Inside SBF’s Trial
Let me break down the latest update on the trial of Sam Bankman-Fried in a friendly and conversational tone. So, after the jury left the courtroom yesterday, Judge Lewis Kaplan discussed procedural matters with lawyers from both sides. When Mark Cohen, Bankman-Fried’s lead defense attorney, was asked about the length of their defense, he gave a mysterious response. Basically, they’re still figuring out whether they’ll present a case and what kind it will be.
Now, it’s not surprising that Bankman-Fried’s defense is unsure about their strategy. They’ve been having a tough time challenging the prosecution’s witnesses, especially the three members of Bankman-Fried’s inner circle who have cooperated with the government. The defense has been facing objections left and right, which they argue has limited their ability to present an alternative narrative.
The term “put on a case” refers to whether the defense will call their own witnesses or simply rely on cross-examining the prosecution’s witnesses. It seems like Bankman-Fried’s lawyers are still considering their options and keeping their cards close to the vest, which is a smart move according to legal experts.
While the defense’s struggles are apparent, they still plan to put up a witness or submit evidence. However, they don’t anticipate their case lasting more than a week or a week and a half, unlike the government’s expected two more days.
Moving on, Bankman-Fried’s defense has faced several rejections from Judge Kaplan even before the trial began. Proposed expert witnesses and certain arguments and evidence have been denied, which has undoubtedly presented challenges for the defense.
During the cross-examination of Bankman-Fried’s inner circle, his attorneys have tried various tactics to challenge their testimonies. However, their attempts to refresh the witnesses’ memories with documents or notes haven’t been successful. Despite some moments that seemed promising, the defense has struggled to undermine the credibility of these witnesses.
There was one interesting incident involving the pronunciation of a name. Bankman-Fried’s attorney, Cohen, pronounces the name “Ryan Salame” differently from how the prosecution and other witnesses do. It’s a small detail, but it adds a bit of annoyance to the mix.
Cohen expressed his frustration with Judge Kaplan at one point, highlighting the importance of presenting their own view of the case. The judge responded firmly but eventually granted Cohen’s request for a question that had been objected to by the government.
Now, the big question remains: Will Bankman-Fried take the stand? His lawyers can decide until the jury is ready to deliberate. And even if they advise against it, Bankman-Fried can still choose to testify. It’s a crucial decision, and it could take a few days if he does decide to go for it.
Ultimately, Bankman-Fried’s lawyers have a lot to consider in this trial, but their precise defense strategy is still under wraps. We’ll have to wait and see how it all unfolds.
Crypto’s Role in Israel-Gaza Conflict: Separating Fact from Fiction
In the midst of the escalating conflict between Israel and Gaza, there’s been a lot of talk about the role of cryptocurrency. A bipartisan group of US Senators and Congressmen recently sent a letter to President Biden’s advisors, demanding answers on the alleged connection between crypto and the attacks on Israel by Hamas.
But here’s the thing – while Hamas has been using crypto as a fundraising tool since 2019, experts are pushing back against the idea that crypto plays a significant role in the crisis or poses more significant threats than traditional banking methods. Ari Redbord, Global Head of Policy at TRM Labs, a blockchain intelligence firm, even stated that crypto makes up a very small part of the overall fundraising picture for Hamas.
To make matters more interesting, amidst the conflict, Israeli crypto executives came up with a creative idea to raise funds for those affected by the violence. They launched “Crypto Aid Israel,” a fund that accepts donations in 12 different cryptocurrencies from around the world. It’s a unique way of leveraging the power of crypto during difficult times.
While it’s true that terrorist organizations have used crypto in the past, they are resourceful and will utilize any means available to raise funds. In fact, the transparency of blockchain technology can actually help law enforcement track and freeze crypto funds associated with criminal activities more effectively than traditional banking.
Some politicians have been quick to criticize crypto, painting it as a shadowy and dangerous form of finance. However, supporters of the industry argue that these claims are unfounded and opportunistic. They warn that if governments continue to crackdown on crypto, it may push the industry offshore, making it even harder to regulate and leaving room for misuse by malicious actors.
The humanitarian crisis in the Middle East is a grim reminder that crypto versus traditional banking is not the real issue at hand. The focus should be on finding ways to provide aid and support to those affected by violence, regardless of the method used to raise funds.
In the end, while the debate about crypto’s role in the conflict continues, it’s essential to separate fact from fiction and approach the situation with empathy and a focus on humanitarian efforts.
Editor’s Wrap: How Crypto and Corruption Collided in a Local Election
A music teacher named Brian Beute decides to run for local office in 2019, completely oblivious to the world of politics, scandals, and cryptocurrency. Running for county tax collector doesn’t usually make waves or involve national figures or crypto mining schemes, but this was no ordinary race.
While Beute taught music, his opponent was busy flying to Miami with influential Republicans, using public funds to set up a crypto mine on government property, and even being linked to trafficking minors for sex work. Talk about a wild ride!
As a conservative from Michigan who moved to Florida, Beute quickly realized how the legacy finance systems were being manipulated by powerful developers and politicians for their own gain. And when rumors started swirling about his opponent’s shady crypto mining activities, it propelled Beute to declare candidacy for the election.
But what happened next was a rollercoaster. The incumbent tax collector, Joel Greenberg, launched a smear campaign against Beute, falsely accusing him of misconduct with students. Little did Greenberg know that his false rumors would ultimately lead to his own downfall.
Greenberg’s illicit crypto mining and other abuses of power caught up with him, and he was eventually convicted and sentenced to 11 years in prison. Beute, although initially hamstrung by the accusations, stayed in the race but lost to J.R. Kroll in the primary election.
However, Beute’s story didn’t end there. He became the first candidate for the Florida Forward Party, a centrist organization founded by Andrew Yang, who happens to be a pro-crypto booster.
This unexpected twist highlights how disruptive technology like cryptocurrencies can have unforeseen effects on existing systems and potentially change the course of American politics.
While Beute himself is skeptical about cryptocurrencies, the Forward Party embraces a diversity of opinions and recognizes the potential for innovation.
CoinWestern Quixplaned🏆
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Twice weekly crypto goodness, coming your way! Catch us every Tuesday and Friday. Mondays, read our All-In-One crypto newsletter. And hey, don’t forget to check us out on Wednesdays for all the latest AI news – because why limit yourself to just one kind of intelligence?
