Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for September 4 - 10, 2023.

Weekly Crypto Digest for September 4 - 10, 2023.

Monday, September 11, 2023

TOP news of the crypto industry for September 4 - September 10, by Yellow Capital.
Bitcoin mining difficulty has dropped by almost 3%, Vitalik Buterin's X (Twitter) account was hacked, the former FTX top manager admitted guilt, and more news.

Bitcoin mining difficulty has dropped by almost 3%

The difficulty of mining the first cryptocurrency decreased by 2.65%. The indicator reached 54.15 T.
The average hashrate for the period since the previous change in value is 387.57 EH/s. The range between blocks exceeded the 10 minutes prescribed by the algorithm by 16 seconds.

Hackers hacked Vitalik Buterin's X (Twitter) account

Bitcoin fell below $26'000

Attackers hacked the X profile of Ethereum co-founder Vitalik Buterin. This was announced by his father Dmitry Buterin.
The post has now been deleted. Apparently, the co-founder of Ethereum has restored access to his profile. At the time of writing, he had not commented on the incident.
The scam post offered “commemorative NFTs to celebrate the arrival of Proto-Danksharding on Ethereum.” The option increases blockchain throughput and reduces fees for L2 solutions based on Rollups technology.
According to blockchain analyst ZachXBT, the amount of damage exceeded $691,000.
Among the stolen NFTs are CryptoPunk #3983 worth 153.62 ETH (about $250,000 at the time of writing) and CryptoPunk #1751 worth 58.18 ETH (~$95,000)

Casio will release NFT watches based on Polygon

Japanese electronics manufacturer Casio announced the launch of G-SHOCK digital watches in the format of non-fungible tokens on Polygon as part of a partnership with the project.
Users will be able to receive one of 15,000 NFT passes for free, which will provide access to a themed Discord channel. Token owners will take part in the voting for the design of the virtual watch.
Casio customers who previously registered on the site will have early access to the pre-launch "Creator Pass" from September 23 to 26. The public distribution of tokens will take place from September 26 to 29.
The main product release of 3D images of G-SHOCK watches is scheduled for December 2023.

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Former FTX top manager admitted guilt

On Thursday, September 7, former Bahamian FTX CEO Ryan Salame pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange.
The charges include conspiracy to make illegal contributions and conspiracy to operate an unlicensed money-transmitting business.
Salameh made political donations in his own name "to initiatives launched by others but supported by Sam Bankman-Fried." According to him, the funds were provided at the expense of Alameda Research and were “classified as loans.”
In addition to forfeiting more than $1.5 billion as part of the agreement, Salameh must repay $5.6 million. He also agreed to pay $6 million before sentencing in March 2024. To cover this amount, the former top manager will hand over a Porsche car and several properties, including two houses in Massachusetts, to the authorities.

MetaMask has added a function for withdrawing funds to fiat

The developers of the non-custodial crypto wallet MetaMask have integrated the ability to “cash out” digital assets with withdrawal to a bank card or PayPal account.
The feature is available in the US, UK, and some European countries. Dollars, euros, and pounds are supported for withdrawal. You can cash out cryptocurrency in the MetaMask browser application.
In the first stage, only Ethereum is available.

Ex-head of Thodex sentenced to 11,196 years in prison

The trial of the founder and former CEO of the Thodex cryptocurrency exchange Faruk Fatih Ozer, his sister and brother has ended in Turkey. Local media reported this.
On charges including fraud and money laundering, they were sentenced to 11,196 years, 10 months, and 15 days in prison each. The court also imposed a fine of 135 million liras (about $5 million).
An acquittal was made against 16 of the 21 defendants. Four people were released from prison due to lack of evidence, the rest received various sentences.
On April 20, 2021, Thodex suddenly stopped trading. The platform initially cited technical work, but then announced that it would transfer the business to a “major partner,” which would allegedly take 4-5 days. Users were concerned about the company's closure of social media accounts.

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