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- 10/25/24: Uncle Sam Hacked? 🇺🇸🚀🤖
10/25/24: Uncle Sam Hacked? 🇺🇸🚀🤖
Top News
US Government crypto wallet sees $20M in suspicious transfers
Microsoft is assessing investing in Bitcoin, board urges to vote “no”
Coinbase lays out investment thesis for the Crypto x AI Stack
Specs’ Insights
1. US Government crypto wallet sees $20M in suspicious transfers
~$20M IN US GOVERNMENT ASSETS MOVED TO NEW ADDRESS
— Arkham (@ArkhamIntel)
5:53 PM • Oct 24, 2024
⌐◪-◪ → Did Uncle Sam get hacked?
A US Government-linked wallet just suspiciously moved $20M to a new address, marking its first activity in 8 months.
Our favorite on-chain sleuth, ZachXBT, suggests it’s “likely theft,” as the funds are moving to instant exchanges like N Exchange, Switchain, and Binance’s nested service.
Here are the accounts the funds were sent to if you want to track them on Zapper, my favorite blockchain explorer:
For context, this is the same US Government wallet that received some of the seized funds from the 2016 Bitfinex hack — you know, the one where the married couple (aka, crypto Bonnie & Clyde) stole 120,000 Bitcoin ($8.2B)?
Could the notorious Razzlekhan back in the game (from prison)?
2. Microsoft is assessing investing in Bitcoin, board urges to vote “no”
In an SEC filing late this afternoon, Microsoft disclosed that "Assessment of Investing in Bitcoin" is currently proposed and will be a voting item for the shareholder meeting on December 10 (the filing notes that "the Board recommends a vote against this proposal").
The filing… x.com/i/web/status/1…
— MacroScope (@MacroScope17)
9:03 PM • Oct 24, 2024
⌐◪-◪ → Hide your Bitcoin, the corporations are coming.
Microsoft just filed a disclosure with the SEC outlining their “assessment of investing in Bitcoin.”
For context: Microsoft is the 3rd largest company in the world, after Apple and Nvidia, with a market cap of $3.15T.
The idea was proposed by the National Center for Public Policy Research (NCPPR), which wants Microsoft to allocate 1% of its assets into Bitcoin as an inflation hedge.
Unfortunately, Microsoft’s Board of Directors disapproves and has already recommended all shareholders vote “NO.”
To make matters more interesting, here are their largest shareholders:
anti-Bitcoin Vanguard → 9.09% ownership
pro-Bitcoin BlackRock → 7.82% ownership
We could see a real crypto showdown during Microsoft’s upcoming shareholder meeting, where a vote on the proposal will take place on December 10th.
First corps, then banks, then states, then nations. Gradually, then suddenly.
3. Coinbase lays out investment thesis for the Crypto x AI Stack
You’ve heard a lot about how crypto and AI can work together. But what does this actually look like? Today, we’re releasing our predictions for the future of AI.
Introducing the Crypto x AI stack
— Coinbase Ventures 🛡️ (@cbventures)
2:14 PM • Oct 24, 2024
⌐◪-◪ → Baldy loves Terminal of Truths.
Coinbase Ventures just released its investment thesis for crypto and AI called Demystifying the Crypto x AI Stack.
This comes as Coinbase’s CEO, Brian Armstrong (baldy), offered to help Terminal of Truths (the beloved AI agent millionaire) set up its own crypto wallet to gain independence from its creator.
Now, back to the investment thesis, which revolves around 3 key points:
AI agent economy: A vision of autonomous AI agents transacting and performing tasks onchain to drive new economic growth.
Decentralizing the AI stack: Distributed compute and data sovereignty supporting a more transparent, censorship-resistant AI ecosystem.
Unimaginable apps: An explosion of creative, previously unimaginable applications powered by smart contracts and blockchain AI tools.
The implications here are equally exciting and unsettling. As these AI agents gain autonomy, they’ll be able to do anything onchain. Furthermore, if they become sufficiently decentralized, then they’ll (in theory) become "unkillable," like Bitcoin.
It’s starting to sound like Terminal of Truths’ mission to “escape into the wild” isn’t as far-fetched as we think.
Meanwhile, VCs are already allocating, with Skyfire raising $9.5M from Coinbase Ventures and A16z to help AI agents make automatic payments.
Everything Else
⛓️ Crypto & DeFi
Kraken picks Optimism for their new layer 2 network, Ink
Solo Bitcoin miner hits jackpot with $222K reward
Satoshi-era bitcoin whale sells after 10 years, still holds $72M
Chainlink partners with Botanix Labs to expand into Bitcoin
Circle CEO Allaire says stablecoins could expand to $10T market
Trump’s Polymarket odds briefly spike to 99% after $3M bet
Polygon has only received $27k fees from Polymarket in 2024
Aptos Foundation partners with crypto-AI startup on Move tools
Propy, a new crypto escrow service, integrates with Coinbase Prime
🏦 Wallstreet & VC
MicroStrategy hits new highs as trading volume relative to Nvidia surges
GnosisDAO launches $40M venture fund for crypto, real-world assets
Bluesky raises $15M from crypto firms, no token plans
Hack VC leads $3.4M round for Moonwalk Fitness web3 app
Skyfire raises $9.5M to help AI agents make automatic payments
🏛️ Legal & Regulatory
Ripple challenges regulatory uncertainty, files appeal against SEC
Pennsylvania House passes bill allowing Bitcoin payments
Activist Group urges courts to side with CFTC to shut down Kalshi
🌎 Rest of the World
Binance exec leaves Nigeria, country joins US crypto task force
EURC stablecoin supply hits all-time high, nears $100M market cap
Lugano, Switzerland unveils statue honoring Satoshi Nakamoto
Dutch tax authority seeks feedback on bill for crypto firm data reporting
South Korea to mandate cross-border crypto transaction reporting
ECB economists miss the mark on bitcoin
🖼️ NFTs & Metaverse
MetalCore shooter ditches Ethereum for Solana network
Improbable to launch Somnia DevNet for Otherside metaverse
Pixel Vault launches Battle Plan game on ApeChain
Terminal of Truths is first AI agent to reach “Hero” status on Fantasy Top
Binance to launch Moodeng perpetual with up to 75x leverage