EddieJayonCrypto
7 Oct 22
• The jobs and unemployment numbers point to Fed Chairman Powell being correct in his hawkishness• Binance and its validators dealt with a $100M hack attack on its BNB chain; Web3 developer, Lorem, notices a connection between the ETH and SHIB rug pulls and the Binance attack• SWIFT partners with Sy...
• The jobs and unemployment numbers point to Fed Chairman Powell being correct in his hawkishness• Binance and its validators dealt with a $100M hack attack on its BNB chain; Web3 developer, Lorem, notices a connection between the ETH and SHIB rug pulls and the Binance attack• SWIFT partners with Symbiont to test CBDC use cases• FTX partners with Visa to launch debit cards in 40 countries across Europe, Asia and Latin America• Citi dips a toe into the Cryptoverse with an investment in Xalts, a Hong Kong-based digital asset management company• Brazilian police stop Mindexcoin alleged Ponzi scheme that fooled sports stars and TV personalities like Sasha Meneghel• India's Enforcement Directorate has frozen $1.2M from Chinese entities over suspected fraudWell, the jobs number came in even hotter than what people were hoping for. That means Fed Chair Powell is going to stay the course. Here is what is on my mind today.1. Well, you can expect Fed Chairman Powell to stay the course. On top of that I suspect you are going to see people start to agree with his hawkishness. Here is the combination we are facing, there are just not a lot of people out of work. As a matter of fact there are a lot of people double-dipping and working 2 jobs at once. That has an anomalous effect on unemployment claims which are down. We are living in a very unique time and it is hard to wade through all of the conflicting data. 2. Binance asked validators to halt the BNB chain so they could isolate a hack that created and additional $100M in BNB. They were able to stifle the attack and restart the chain, but this is still an issue since the attack was on the bridge. This is one of several such attacks. I am wary of bridges and try to avoid them for now. I think they need to be strengthened before I will be able to see them as reliable. Lorem, a Web3 developer, noticed some malicious code found in some fake tokens. Looking at the code Lorem found references to the hacker address involved in the BNB bridge attack.. Although the hacker was unable to get the supposed $100M from the BNB hack, they were able to squeeze about $100K of ETH out of the rug pull and used the same tactic on a new token called HACKERSHIBA. The use of spoof tokens like this are a common attack vector. 3. A few days ago I told you about a partnership between SWIFT and Chainlink. The SWIFT network is partnering with Symbiont to test the use cases of blockchain technology for a CBDC network. I am looking at cryptos that are in place that can do the same things without CBDCs and there are many, including ones that follow ISO20022 standards. 4. FTX and Visa partner to offer debit card in 40 countries. This could prove to be a great move by the credit card giant. With this deal FTX gets to introduce the new cards in new Latin America, Europe and Asia. This is adds to what they have already done in the United States. 5. Citi dips a toe into the Cryptoverse with an investment in Xalts, a Hong Kong-based digital asset management company. Also involved in the $6M seed round is Sandeep Nailwal, cofounder of Polygon, along with others. 6. Brazilian police shut down what seems to be a $769M crypto pyramid scheme that had celebrities like Sasha Meneghel and sports stars alike fall for it. Mindexcoin was a project developed by a company called Forcount. Led by Francisley Valdevino da Silva a.k.a "Bitcoin Sheikh". 7. In another state action, India's Enforcement Directorate has frozen $1.2M from Chinese entities over suspected fraud, after having already confiscated $5.7M. Authorities allege the Chinese entities promoted a fraudulent investment scheme involving digital assets. The money was frozen across several accounts in Indian banks.