EddieJayonCrypto
20 Jul 22
• Already riding immense news this week, Polygon launched a new scaling solution to cut costs even more on Ethereum with zkEVM• The SEC is using enforcement to increase its reach in jurisdiction in the Cryptoverse• Bill put forward by Senators Lummis and Gillibrand giving CFTC jurisdiction over the ...
• Already riding immense news this week, Polygon launched a new scaling solution to cut costs even more on Ethereum with zkEVM• The SEC is using enforcement to increase its reach in jurisdiction in the Cryptoverse• Bill put forward by Senators Lummis and Gillibrand giving CFTC jurisdiction over the Cryptoverse could come to a vote this year• US seizes approximately $500K funds and assets associated with North Korean ransomware payments• Fake airdrops are on an uptick as influencer Zeneca and PREMINT being the latest targets• The overall market being up does not mean everything in the market is worthy of a buyCryptos seem to be sustaining their upward trend at the moment. Now is the time to dig deeper in your research! Here is what is on my mind today.1. Already riding immense news this week, Polygon launched a new scaling solution to cut costs even more on Ethereum. Polygon's zkEVM is a zero-knowledge scaling solution that aims to outpace Visa's transactions throughput. Let that wash over you for a moment. Polygon is setting its sights on direct competition with Visa's transaction speed and capacity. Said to be the first to use zero-knowledge proofs the Ethereum Virtual Machines leverage the new cryptographic method. In a statement shared with Decrypt, Mihailo Bjelic, co-founder of Polygon, said, “The holy grail of Web3 infrastructure should have three major properties: scalability, security, and Ethereum compatibility”. This should be a benefit to the current implementation of Ethereum as well as the upcoming move to proof-of-stake. 2. The SEC is using enforcement to increase its reach in jurisdiction in the Cryptoverse. I have been saying this for a while now. The SEC's ominous approach is heavy-handed and combative. While you want to protect the consumer, the SEC should not be doing things to stifle technological growth and invention. Like I have been saying, Gary Gensler needs to go and a restructuring at the top of the SEC needs to happen. 3. Back on June 9th I told you about a bill put forward by Senators Lummis and Gillibrand that would make the bulk of the Cryptoverse jurisdiction to the CFTC. That bill could hit the floor for a vote as soon as this year. The bill calls for certain types of projects to have to report to the SEC at least once a year, but the bulk of enforcement would fall on the CFTC and declare most cryptos as commodities, not securities. 4. US seizes approximately $500K funds and assets associated with ransomware payments. As per a new law signed by President Biden in March, critical infrastructure firms must inform the government within 72 hours of any ransomware payments. As of late the attacks have mainly come from North Korea-backed hackers. Recent events have allowed the FBI to research specific incidents, leading to the identification of new types of ransomware. 5. Fake airdrops are on an uptick as of late. Followers of influencer Zeneca and users of the PREMINT platform are the latest to be targeted. Compromising the social media accounts of an influencer can add a certain amount of validity to a suggested transaction and Zeneca is quite the influencer. When doing your own research be sure to get corroborating evidence. Meaning if only one person or news outlet is speaking about it, you should find others (note the plurality). 6. Everything looks like a buy when the market is up. A friend of mine asked me to research a project his "friend" told him about, Meta-XS. As soon as you get to their website they ask you to buy the token. Nothing about the project is shown on that very first screen. Not even big claims of being the best at whatever they are schilling. I told David whoever told him about this is not a friend. Friends don't allow friends to join them in getting fleeced.