BlockFi Pays $10M in Bonuses to Staff Despite Bankruptcy Proceedings

• BlockFi, a bankrupt crypto lending firm, has been granted court permission to pay nearly $10 million in staff bonuses.
• These payments will be distributed to eligible employees in three installments and consist of two tiers of payment.
• The court filing did not state how many employees are eligible for the bonus, but recent reports suggest that the firm has about 125 employees at present.

Crypto lending firm BlockFi has been granted permission to pay staff bonuses of up to $10 million, despite being in the midst of bankruptcy proceedings. The court filing, dated Jan. 27, states that the firm has been “authorized, but not directed” to enact an employee retention program. This program will distribute payments to a few remaining employees in three installments, consisting of two tiers of payment.

The first tier of payment will see employees receive 42.5% of their base salary amount, while the second tier will pay out 9% of their base salary. The filing did not state how many employees are eligible for the bonus, but recent reports suggest that the firm has about 125 employees at present. BlockFi justified its request for the bonus program by stressing the need for employee retention in the face of aggressive competition.

Though BlockFi will not be required to pay all or any of its employees, it will need to complete the last of the three payouts within 12 months of court approval if it chooses to proceed with the retention plan. This bonus program stands in stark contrast to the normal procedure in bankruptcy proceedings, which usually involves a large portion of staff being laid off.

This decision could prove beneficial to BlockFi in the long run, as retaining staff members allows the firm to maintain its operations while it works to recover from its current financial woes. It also shows that the firm is committed to its employees, and is doing what it can to ensure that they are taken care of during these difficult times.

Overall, this development is an encouraging sign for the future of BlockFi, and indicates that the firm may be able to rebuild itself and continue operations in the future. Time will tell whether this decision will benefit the firm in the long run, but for now, it serves as an encouraging sign that BlockFi is doing what it can to stay afloat.

New York Bill Allows State Agencies to Accept Cryptocurrencies

• New York Assembly Bill 2532 would allow state agencies to accept cryptocurrencies for payments related to taxes, rent, fines, penalties, interest, and more.
• The bill mentions Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as acceptable currencies, with the possibility of other cryptocurrencies being accepted.
• The bill also allows the state to charge a fee if it would otherwise be made to pay the costs of a transaction.

The state of New York is looking to make a major change in the realm of cryptocurrency adoption. A new bill, New York Assembly Bill 2532, proposes to allow state agencies to accept cryptocurrencies for payments related to taxes, rent, fines, penalties, interest, and more. If the bill passes, it could significantly expand the use of cryptocurrencies in New York.

The bill specifically names Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as acceptable currencies. Additionally, it suggests that other cryptocurrencies may also be accepted, giving individual agencies the freedom to decide which ones to use. Furthermore, the text allows the state to charge a fee if it would otherwise be made to pay the costs of a transaction. This could help cover the costs of processing cryptocurrency payments and make it more feasible for state agencies to accept them.

The bill also makes references to „issuers“ but seems to use the term broadly. Contextually, the term seems to extend to services that handle crypto, not just those who create it. This could be beneficial for state agencies that have to deal with multiple cryptocurrencies and need support in managing them.

In addition, the bill suggests that cryptocurrency payments could be conditional until the final payment is received in full. This could help protect state agencies from potential fraud and other risks associated with cryptocurrency payments.

If New York Assembly Bill 2532 passes, it could have a major impact on the state’s cryptocurrency adoption. It could potentially open the door for more crypto payments in New York and make it easier for state agencies to accept them. This could be a major step forward for the adoption of cryptocurrencies in the state and potentially beyond.

Moonbirds Founder’s Wallet Hacked: NFTs Worth Millions Stolen

• Kevin Rose, the founder of the NFT collection Moonbirds, had his personal wallet hacked on January 25, draining it of NFTs worth millions.
• The attack was connected to a malicious signature Rose granted to the attackers via OpenSea’s Seaport protocol.
• The attackers were able to make off with 40 assets, including notable NFTs from projects such as Cool Cats, OnChainMonkeys, Chromie Squiggles, Autoglyphs, QQL Mint Pass, Admit One Pass, and more.

On January 25, the founder of the NFT collection Moonbirds, Kevin Rose, had his personal wallet hacked and drained of NFTs worth millions. The attack was linked to a malicious signature that was granted to the attackers via OpenSea’s Seaport protocol.

OpenSea’s Seaport protocol is an open-source Web3 protocol that bills itself as „focusing on trading safety and efficiency.“ The protocol is developed with Solidity Assembly language, and allows for a variety of functions to take place on the Ethereum blockchain, such as filling orders, tipping, advanced filtering capabilities and the elimination of redundant transfers. Unfortunately, the attackers were able to use the protocol to make off with 40 assets, including notable NFTs from projects such as Cool Cats, OnChainMonkeys, Chromie Squiggles, Autoglyphs, QQL Mint Pass, Admit One Pass, and more.

The attack itself was a classic case of social engineering known as a phishing attack, a cybercrime in which an attacker tries to trick victims into giving away sensitive information, such as passwords or credit card numbers, by disguising themselves as a trustworthy source. In this case, the attackers were able to pose as OpenSea in order to acquire the malicious signature they needed to gain access to Rose’s wallet.

In response to the attack, Rose sent out a Tweet to his 1.6 million followers promising to look into the matter. Despite being flagged as stolen and reported to OpenSea as such, several of the stolen NFTs have already been sold on the secondary market.

It is unclear at this time who was behind the attack, and whether or not the attackers have been able to make off with all of the stolen NFTs. Rose has stated that he is currently engaging with OpenSea and other relevant parties in order to investigate the matter further. He has also urged other users to be extra cautious when granting signature requests to avoid similar incidents in the future.

UK Parliament Holds Historic Crypto Debate: Calls for Regulation, Innovation

• The U.K. held its first parliamentary debate on cryptocurrency regulation on Jan. 25, 2023.
• The debate was led by finance minister Andrew Griffith, who promised to have six roundtables with the sector during 2023.
• Prime Minister Rishi Sunak expressed his support for the development of a crypto-friendly environment in the U.K.

On Wednesday, Jan. 25, 2023, the U.K. Parliament held its first ever parliamentary debate on cryptocurrency regulation. The debate was led by finance minister Andrew Griffith and focused on the need for clarification and regulation in the nascent sector.

During the debate, Griffith promised to have six roundtables with sector participants during 2023 in order to address the gaps in current regulation. He stressed the need for sensible and balanced regulation in order to allow the safe use of crypto technology. He also noted that the U.K. is currently one of the most open, dynamic and competitive financial services hubs in the world.

Prime Minister Rishi Sunak also expressed his support for the development of a crypto-friendly environment in the U.K. He emphasized the importance of embracing technology and innovation as a way to improve all lives. Sunak also suggested that such an environment would make things cheaper, faster, and better.

The debate on Jan. 25, 2023 marks an important milestone in the U.K.’s efforts to become a leader in the crypto space. Lawmakers from both sides of the aisle were in agreement that the sector needs more regulation and clarity for it to move forward. It remains to be seen what type of regulation will be proposed and whether or not it will be accepted. However, the fact that the U.K. is having an open discussion about cryptocurrency is certainly a positive development.

Bitcoin Breaks Out of All Realized Price Levels – Recovery Ahead?

• Bitcoin has broken out of all realized price levels for only its fifth time.
• This is seen as a signal that the worst is behind us and the market is recovering.
• The realized price is currently $19,777, while the short-term holder realized price is $18,493 and the long-term holder realized price is $22,437.

It is a momentous day for Bitcoin holders as the cryptocurrency has broken out of all realized price levels for only its fifth time. This is seen as a signal that the worst is behind us and the market is recovering, with the realization that the cryptocurrency could potentially reach new heights in the coming months and years.

The realization of Bitcoin’s price can be determined by looking at the aggregate price when each coin was last spent on-chain. By using Short- and Long-Term Holder heuristics, it is possible to calculate the realized price (estimated average acquisition price) for each investor cohort. The realized price reflects the average on-chain acquisition price for the entire coin supply and the short-term holder realized price reflects the average on-chain acquisition price for coins held outside exchange reserves, which were moved within the last 155 days. These coins are the most probable to be spent on any given day. The long-term holder realized price reflects the average on-chain acquisition price for coins held outside exchange reserves, which have not moved within the last 155 days. These coins are the least probable to be spent on any given day.

Periods where the spot price falls below all cost basis models typically occur in deep bear markets, where the average investor, irrespective of hold time, is holding an unrealized loss. This has been seen in 2012, 2015, 2019, and 2022 and for a very brief period in 2020.

The current realized price for Bitcoin is $19,777, the short-term holder realized price is $18,493 and the long-term holder realized price is $22,437. This news is seen as an incredibly positive sign for the cryptocurrency, as it shows that the market is potentially in the process of recovering from its bearish spell.

For those who are invested in Bitcoin, this news is a welcome relief and a sign that the worst is behind us and the market is on its way to recovery. With the current realized price levels, it looks like Bitcoin holders could be in for a treat in the near future.

Create AI Characters as NFTs with Alethea AI and Polygon Labs‘ AI-Powered Project

• Alethea AI and Polygon Labs are launching an AI-powered NFT project that allows users to create NFT avatars through text-based prompts.
• The NFTs can be minted at mycharacter.ai via the Polygon dApp from Alethea AI.
• To launch the dApp, a digital version of Polygon co-founder, Sandeep Nailwal, was made into a 1/1 NFT „AI Collectible.”

AI technology has been making leaps and bounds of progress in the last few years and it’s now being applied to the world of NFTs. Alethea AI and Polygon Labs have recently announced the launch of an AI-powered NFT project that allows users to create NFT avatars through text-based prompts. The project plans to enable anyone to rapidly create, train and trade AI Characters as NFTs on Polygon.

The AI NFTs are made possible by CharacterGPT, created by Alethea AI, which claims to go beyond traditional text-to-image engines like Open AI’s Dall-E 2. CharacterGPT is designed to generate fully interactive and intelligent AI characters with a single-line prompt in natural language. To manage the creation process, Alethea has leveraged AI Protocol: a property rights and ownership layer for Generative AI that is now live on Polygon.

To launch the dApp, a digital version of Polygon co-founder, Sandeep Nailwal, was made into a 1/1 NFT „AI Collectible.” The gold checkmark alongside the AI collectible represents validation that the NFT was created with his permission. Commenting on the project, Nailwal said, “I have seen firsthand how Alethea AI has developed this technology over the last few years and through their CharacterGPT AI engine, they have created a truly unique and powerful AI product.”

The NFTs can be minted at mycharacter.ai via the Polygon dApp from Alethea AI. As NFTs become increasingly popular, this marks another step forward in AI technology and its application to the world of digital art and collectibles. With the launch of this project, Alethea AI and Polygon Labs are providing users with an entirely new way to create and trade AI-powered NFTs.

Bitcoin and Ethereum Dominate Crypto Market as Total Market Cap Hits $1T

• Bitcoin dominance has hit its highest level in six months, currently standing at 41.5%.
• Ethereum dominance is also up and currently stands at 19.4%.
• The total crypto market cap currently sits at just under $1 trillion.

Bitcoin’s dominance of the crypto market has hit its highest level in six months, according to data from Glassnode. As of January 20th, 2021, the BTC Dominance metric stands at 41.5%, indicating that Bitcoin currently accounts for nearly half of the global crypto market cap. This marks a significant increase from levels seen in July 2022, when BTC dominance sat at a low of 33.5%.

At the same time, Ethereum’s dominance of the crypto market has also seen an increase. Currently, Ethereum accounts for 19.4% of the total crypto market cap, indicating that the altcoin is still a major player in the crypto market. This marks a significant rise from the levels seen in July 2022, when Ethereum dominance was at its lowest point of 12.5%.

The total crypto market cap currently sits at just under $1 trillion, indicating that the crypto market is still growing despite the recent drop in Bitcoin’s price. This is a significant increase from the market’s total value in July 2022, when the total crypto market cap was just $400 billion.

The rise in BTC and ETH dominance is indicative of a maturing crypto market, as investors are increasingly favoring the two largest crypto assets. This trend is likely to continue in the coming months and years as more investors flock to Bitcoin and Ethereum due to their relative stability and proven track records.

Overall, the crypto market is in a good place at the moment, with both Bitcoin and Ethereum dominating the market. The total crypto market cap is nearing the $1 trillion mark, and the two largest crypto assets are seeing significant growth in their respective dominance. It remains to be seen how the market will develop over the coming months and years, but the current outlook is certainly positive.

Pragmatyczne tolerowanie błędów bizantyjskich

Tolerowanie błędów bizantyjskich (ang. Practical Byzantine Fault Tolerance) stanowi technikę przeznaczoną do ochrony systemów informatycznych przed atakami i awariami. Jest to technika, która pozwala systemom tolerować błędy w występujących w nich węzłach. Omówiony w niniejszym artykule proces tolerowania błędów bizantyjskich polega na wykorzystaniu protokołu konsensusu, który jest stosowany w celu określenia, która wersja danych jest prawidłowa. W artykule omówiony zostanie rodzaj błędów bizantyjskich, strategie przeciwdziałania im, zastosowanie w praktyce, zalety i wady oraz efektywność tej techniki. Na koniec przedstawione zostanie podsumowanie artykułu.

Zastosowanie w praktyce

Tolerowanie błędów bizantyjskich stosuje się w wielu różnych systemach informatycznych, takich jak systemy transakcyjne, systemy dystrybucji energii elektrycznej, systemy kontroli dostępu, systemy bezpieczeństwa i systemy zarządzania ryzykiem. Może ono być również stosowane w systemach handlu online, takich jak platforma handlowa Bitcoin UP.

Przyczyna błędów bizantyjskich

Błędy bizantyjskie występują w systemach informatycznych, w których są węzły (urządzenia, systemy lub programy). W przypadku błędów bizantyjskich węzły mogą działać w sposób niezgodny z oczekiwaniami, co powoduje, że system jest w stanie niestabilnym. Przyczyną tego stanu jest to, że węzły nie są w stanie osiągnąć konsensusu. Mogą one wysyłać sobie nawzajem błędne informacje, co utrudnia określenie, która wersja danych jest poprawna.

Pojęcie tolerowania błędów bizantyjskich

Tolerowanie błędów bizantyjskich jest procesem, który polega na akceptacji i poprawianiu błędnych danych, które są wysyłane przez węzły systemu. Aby to osiągnąć, wykorzystywany jest protokół konsensusu, który określa, która wersja danych jest prawidłowa. Tolerowanie błędów bizantyjskich pozwala systemowi tolerować błędy w węzłach, dzięki czemu system informatyczny jest w stanie niestabilnym.

Strategie tolerowania błędów bizantyjskich

Istnieje wiele strategii tolerowania błędów bizantyjskich, które mogą być stosowane w przypadku systemów informatycznych. Strategie te można podzielić na dwie główne kategorie: strategie akceptacji i strategie poprawiania. Strategie akceptacji polegają na akceptowaniu błędnych danych, które są wysyłane przez węzły systemu, podczas gdy strategie poprawiania polegają na poprawianiu tych danych.

Zalety tolerowania błędów bizantyjskich

Tolerowanie błędów bizantyjskich ma wiele zalet. Po pierwsze, technika ta zapewnia wysoką wydajność w systemach informatycznych, ponieważ pozwala systemom na szybkie reagowanie na zmiany. Po drugie, tolerowanie błędów bizantyjskich zapewnia wysoką niezawodność, ponieważ system może działać bez przerwy, nawet w przypadku awarii w węzłach. Po trzecie, technika ta zapewnia wysoki poziom bezpieczeństwa, ponieważ pozwala uniknąć ataków na system.

Wady tolerowania błędów bizantyjskich

Tolerowanie błędów bizantyjskich ma również pewne wady. Po pierwsze, technika ta może być bardzo kosztowna, ponieważ wymaga dużej ilości zasobów, aby była skuteczna. Po drugie, tolerowanie błędów bizantyjskich może być trudne do zaimplementowania, ponieważ wymaga odpowiedniego oprogramowania. Po trzecie, technika ta może być trudna do skalowania, ponieważ wymaga odpowiedniego dostosowania do wzrostu liczby węzłów w systemie.

Efektywność tolerowania błędów bizantyjskich

Efektywność tolerowania błędów bizantyjskich zależy od wielu czynników, takich jak rodzaj strategii stosowanej w systemie, liczba węzłów w systemie, rodzaj protokołu konsensusu stosowanego w systemie i rodzaj zabezpieczeń stosowanych w systemie. Aby zapewnić wysoką efektywność tej techniki, ważne jest, aby wszystkie te czynniki były odpowiednio dobrane i skonfigurowane.

Przyszłość tolerowania błędów bizantyjskich

Tolerowanie błędów bizantyjskich będzie nadal rozwijane, aby zapewnić lepszą wydajność i niezawodność systemów informatycznych. Prace nad tym procesem będą koncentrować się na opracowywaniu nowych strategii tolerowania błędów bizantyjskich, zwiększaniu wydajności protokołu konsensusu i zwiększaniu bezpieczeństwa systemu.

Podsumowanie

Tolerowanie błędów bizantyjskich jest techniką przeznaczoną do ochrony systemów informatycznych przed atakami i awariami. Polega ona na akceptacji i poprawianiu błędnych danych wysyłanych przez węzły systemu. Tolerowanie błędów bizantyjskich ma wiele zalet, takich jak wysoka wydajność, niezawodność i bezpieczeństwo. Technika ta jest szeroko stosowana w wielu systemach informatycznych, w tym w platformach handlowych, takich jak Bitcoin UP.

$65 Billion Crypto Backdoor Revealed in FTX Bankruptcy Filing

• FTX recently filed for bankruptcy, revealing a „$65 billion backdoor“ between Alameda and FTX.
• This backdoor allowed for Alameda to trade with „artificial capital“ without posting any real collateral for trades.
• A ‚god mode‘ was also discovered, allowing a small group of individuals to move funds off the exchange without consequence.

The recent bankruptcy filing of FTX has revealed the existence of a „$65 billion backdoor“ between Alameda and FTX. This backdoor allowed for Alameda to trade with „artificial capital“ without posting any real collateral for trades. Additionally, a ‚god mode‘ was discovered, allowing a small group of individuals to move funds off the exchange without consequence.

The news of the backdoor and ‚god mode‘ was released in a recent court filing detailing the current findings relative to FTX group funds. The filing included a deck illustrating the liquidation process alongside a code sample that allegedly represented the Alameda backdoor. The deck also confirmed the existence of a ‚god mode‘ by which a small group of individuals were able to move funds off the exchange.

The code included in the filing showed that while customers were auto-liquidated based on the margin terms offered by FTX, Alameda was allegedly exempt from auto-liquidation. Examples of the code for each group were illustrated via a specific „account setting code“ in the exchange’s codebase. Seven million standard customers‘ access codes were set so they could not borrow if their balances were zero. Market makers for the company had credit limits of up to $150 million. Seemingly, 4,000 market markets had credit limits up to $1 million, with a further 41 between them having access to up to $65 billion.

This news comes as a shock to many in the crypto community, as it’s one of the largest examples of fraud ever seen. The sheer magnitude of the backdoor and the ability of a select few to move funds off the exchange with impunity is concerning, and has left many questioning the legitimacy of the entire cryptocurrency market.

It will be interesting to see how this story plays out in the court case, and what, if any, repercussions the individuals involved will face. In the meantime, it’s important to remember that while cryptocurrency can be a great investment, it’s important to be aware of the risks involved and to exercise caution when dealing with exchanges.

Bitcoin (BTC) Hash Ribbon Indicates Market Bottom May Be Near!

•The Bitcoin (BTC) Hash Ribbon indicator signals a market bottom may be in sight as the worst of miner capitulation passes.
•The Hash Ribbon indicator chart indicates that the worst of miner capitulation is over when the 30-day moving average (MA) crosses the 60-day MA, which is suggestive of a switch from negative to positive price momentum.
•BTC holders have experienced a tough year, but the worst of miner capitulation could be over as BTC turns bullish and breaks out towards $19,000.

The past year has been a tough one for Bitcoin (BTC) holders, with the price of the cryptocurrency down 75% from its all-time high (ATH). In addition, the hash rate too reached an all-time high as miners increased efforts to ensure profitability in the energy crisis. This has caused a great deal of miner capitulation, with mining stocks falling over 80%, and mining company bankruptcies solidifying the bear market.

However, there may be some good news on the horizon, according to CryptoSlate analysis. The Bitcoin (BTC) Hash Ribbon indicator signals a market bottom may be in sight as the worst of miner capitulation passes. The indicator chart indicates that the worst of miner capitulation is over when the 30-day moving average (MA) crosses the 60-day MA, which is suggestive of a switch from negative to positive price momentum. This could reveal good buying opportunities, as the switch from dark-red back to white is indicative of a bullish trend.

This theory is further supported by the total supply of BTC currently held in miner wallets, which has hit roughly 1.8 million BTC. This suggests that the sell pressure from miners is abating, and with BTC turning bullish and breaking out towards $19,000, it appears that the worst of miner capitulation could be over.

Of course, it is important to note that nothing is certain in the world of cryptocurrency, and miners could still cause some disruption in the coming months. Nevertheless, the current indicators do point to a potential bottom in the market, and so it could be a good time to buy in and take advantage of the current market conditions.