A new wallet that has launched on Optimism allows users to generate an address without storing seed words, and the account can be saved using an ordinary Twitter login. Called “Beam,” the wallet runs in a browser window and requires no downloads, according to a July 27 announcement from its developer. It also allows users to send transactions on Optimism…
Paul Munter, chief accountant of the United States Securities Exchange Commission (SEC), has released a statement warning accounting firms of their obligations to the agency when working with crypto firms. Allowing their finding to be misrepresented could have serious consequences, he said. Crypto firms may engage accountants to “perform some sort of review of certain parts of their business,…
Ever dreamed of creating your perfect partner? Now you can with AI, thanks to a new project from prominent VC firm Andreessen Horowitz (a16z). The Silicon Valley heavyweight has uploaded a tutorial to GitHub outlining how to create customizable “AI companions” with configurable personalities and backstories. “You can guide your companion towards your ideal use case with the backstory you…
Over the last 12 months, market analysts and commentators have relentlessly predicted that the United States is heading for a recession. However, the U.S. economy has been remarkably resilient and defied the forecasts. Indeed, we now have the U.S. Federal Reserve discounting a recession from its current modeling, as Fed Chair Jerome Powell emphasized at the Fed’s July press conference. …
Grayscale argued the Securities and Exchange Commission should approve all spot Bitcoin ETF applications simultaneously, pressing for the measure in several comment letters submitted on Thursday. “The SEC’s actions related to bitcoin ETFs should be done in a fair and orderly manner,” Grayscale’s Chief Legal Officer Craig Salm said in a statement. “As a disclosure-based regulator, the SEC should not…
Several fake accounts on X — formerly Twitter — were pushing malicious links to followers following the launch of the Worldcoin human identity verification token. July 24 marked Twitter’s rebrand to the letter ‘X’ as well as the launch of the Worldcoin token. Though the change in brand has had mixed reactions online, the social media platform has not changed…
A proposal seeking to temporarily increase the interest rate granted to holders of stablecoin Dai (DAI) was approved by the MakerDAO community on July 27, raising yields for token holders toas high as 8%. The proposal introduced the Enhanced Dai Savings Rate (EDSR), a mechanism that temporarily increases the effective DAI Savings Rate (DSR) available to users. The enhanced mechanism…
The Optimism network has surpassed Arbitrum in transaction volume for the first time in six months, according to July 27 data from blockchain analytics platform Artemis. Both networks are layer 2s of Ethereum that use optimistic rollup technology, which compresses and batches transactions before submitting them to Ethereum, potentially lowering transaction fees. Optimism fell behind Arbitrum based on volume in…
Tact was pervasive in the United States House of Representatives Agricultural Committee’s consideration of the Financial Innovation and Technology for the 21st Century Act on July 27. With many references to bipartisanship and self-congratulatory mentions of the members’ cooperation and hard work, the committee plowed through a series of amendments calmly and quickly. The bill, co-written by Republican members of…
Digital fashion brand MNTGE is back with its latest drop today called Patchwork, a limited edition collection of 7,500 Ethereum NFT patches that can be redeemed for physical versions that come equipped with NFC chips. Each patch from the vintage-centric, Web3-native brand has been custom-designed by one of 11 contemporary artists, whose work spans diverse media from digital art to…
