The Daily LEO #249 ZK Rollups End Game?, FTX Updates and SEC Adds Force

about 1 year ago (Edited)

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High inflation and interest rates to hobble U.S. and global economies for several years, IMF says

The U.S. and global economies are likely to struggle to grow over the next few years as countries fight to reduce high inflation and cope with rising interest rates, the IMF said Tuesday.

The latest projections paint a gloomy picture of the challenges facing the world. Chief among them is high inflation, a problem the IMF said has proven stickier than expected compared to “even a few months ago.”

Gary Wang, the mysterious FTX cofounder, is cooperating with prosecutors.

Gary Wang, the cofounder of FTX, has been a mysterious but critical player in the rise and spectacular fall of the crypto empire.

After pleading guilty to fraud in December, Wang is said to be cooperating with the prosecutors.

Despite serving as FTX's chief technology officer, Wang maintained a limited online presence and ...

Stocks Tread Water; Bitcoin Rallies

Today's Developments
There's been a flip-flop in the stock market lately. Cyclical areas of the market, such as shares of financials and energy companies, are on the upswing. Meanwhile, tech stocks are lagging behind.

There's more action abroad, where shares of some Japanese companies jumped after Warren Buffett said...

ZK-rollups are ‘the endgame’ for scaling blockchains: Polygon Miden founder

ZK-rollups are the hottest thing in Ethereum right now, having seemingly appeared out of nowhere in late 2018 to fundamentally reshape the “Eth2” plan to scale via sharding alone.

Zero-knowledge, or validity proof rollups, essentially perform the computations for ...

SEC Is Adding Attorneys to Crypto Enforcement Unit

The U.S. Securities and Exchange Commission is hiring general attorneys for its crypto enforcement division in New York, Washington and San Francisco, according to a job posting.
The call for attorneys to join the regulator's Crypto Asset and Cyber Unit, or CACU, comes after the agency said in March that it was "planning to add additional staff" to the unit, which was initially meant to be a 20-person operation but has since doubled in size.

Under Chairman Gary Gensler, the SEC has been...

Crypto community criticizes Tether for blacklisting wallet that drained $20M from MEV bots

Several crypto stakeholders have criticized USDT issuer Tether for blacklisting a validator address that drained $25 million from maximal extractable value (MEV) bots.

The MEV bots were drained of over $20 million on April 3 while executing a sandwich trade. The blacklisted address exploited a bug in the MEV-boost relay to back-run the bot’s transactions and stole 3 million USDT and $22 million in ERC-20 tokens.

With the blacklisting, Tether has now frozen the 3 million USDT from the exploit.

Microstrategy Finally Posts a Profit on Their $4.2 Billion Bitcoin Investment
Microstrategy got into the Bitcoin space back in August 2020. They weren't the earliest to the game but they were one of the heaviest hitters that got in rather quickly.

Ironically, it started with the sale of Voice.com to Eos. Saylor sold a domain name to EOS for a whopping $30M. I believe that is one of the most expensive domain names ever sold.

After that, crypto and more specifically, BTC, caught the eye of...

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