GM Readers!📪 It's BitDegree Insider, and let's construct something worth constructing.
⭐️Today's selection:
- 🕵️♀️Elon Musk In The Spotlight
- 😤SEC Wants MORE
- 🧩️Thursday Quiz
- 👌Selected Meme of The Day
- 📰Bite-Sized News
ELON MUSK & HIS WALLET
A suspenseful scene unfolds in the cryptosphere as an enigmatic figure steps into the spotlight. Their mission? To unravel the mystery behind Elon Musk's cryptocurrency wallet.
With a hefty bounty of 1000 ARKM, the individual is calling upon the power of the Arkham Intel Exchange.
The goal? To find out which of these anonymous wallets are actually the one that belongs to the mr. Twitter-Tesla-Man, mr. Elon Musk himself. To do so, they're relying on this revolutionary marketplace of blockchain intelligence. It's an intricate game of digital detective work, and the intrigue is only mounting!
But, wait, what is Arkham?
Once we presented the findings from their research team and now they have launched a new product! So, Arkham Intelligence took an audacious step into new territory. They announced the debut of their "dox-to-earn" project, an on-chain intelligence exchange platform that lets users buy and sell information on the owner of any blockchain wallet address.
In a crypto ecosystem where transaction data is largely public and pseudonymity is paramount to ensure safety and privacy, this innovative feature has sparked mixed reactions. While some fear it could lead to potential harm, others see it as a tool for exposing scammers, democratizing access to data, and ultimately, promoting heightened privacy.
The Arkham Intel Exchange platform began operating on July 18th. Users can buy and sell information about the owner of any wallet address anonymously.
Also, on the exchange, people are looking for FTX exploiters and hackers behind the Wintermute hack.
So, they're quite busy.
TL;DR: A cryptic figure announced that they're seeking to solve the mystery surrounding Elon Musk's crypto wallet. They turn to the Arkham Intel Exchange, offering a generous bounty of 1000 ARKM to uncover the coveted data. Arkham Intelligence, the creators of the marketplace of blockchain intelligence, has unveiled their "dox-to-earn" project, a daring on-chain platform enabling users to buy and sell information on any blockchain wallet address.
SEC WANTS TO GET BIGGER
Imagine a scene from a gripping courtroom drama as Gary Gensler, the chief of the Securities and Exchange Commission (SEC), made a compelling case before the Senate. His mission: to rally the troops and resources needed to combat the mounting abuses in the cryptocurrency world, a landscape teetering on the brink of chaos.
He enthusiastically endorsed:
- The Biden administration's ambitious plan to pump a staggering $2.4 billion into the lifeblood of the SEC's operations.
- A vital top-up request for $72 million, with the primary goal of bolstering the agency's personnel.
This all-out initiative aims to establish a fortified shield, protecting innocent investors from the tumultuous, unpredictable, and often dangerous "Wild West" of the crypto-asset market.
Outlined below is Gensler's battle plan, showing how he intends to deploy the hefty funding:
- Expand the SEC's ranks to an impressive force of 5139 by 2024, ready to take on the challenges of an ever-evolving market.
- Allocate an additional $393 million towards a robust cybersecurity infrastructure, a crucial investment in this digital age of invisible threats and swift capital movements.
With the green light, these requests could catapult the SEC's total funding to a robust $5.139 billion in the coming year, a figure sourced from the U.S. government spending tracker.
To justify this aggressive financial fortification, Gensler unveiled some alarming statistics:
- A dramatic surge in pleas for help, with the SEC tackling 35,000 requests from damaged investors in 2022 alone—a figure that has skyrocketed since 2016.
- This uphill battle was fought even as the agency's workforce experienced a worrying 5% shrinkage over the same period.
Closing on a note of defiant resolve, Gensler voiced his discontent with the court's decision in the Ripple Labs saga. He hinted at a plot twist, confirming the SEC's intention to re-examine the case, potentially leading to a challenge of the ruling.
Who would have thought, after levying countless fines on crypto exchanges and dealing with ceaseless challenges, the mighty SEC would be stretching every dollar to continue its crucial work?
TL;DR: Gary Gensler, head of the SEC, presents an impassioned plea to the Senate, seeking $2.4 billion to combat crypto abuses and protect investors from the chaotic "Wild West" of the crypto market. With an expanded workforce and robust cybersecurity investment, the SEC aims to tackle the surging requests for help from damaged investors, challenging the crypto landscape head-on.
THURSDAY QUIZ
It's Thursday. You know what that means. Let's get to it.
We talked about someone trying to find Elon's crypto wallet (its address).
But as for a challenge… Try to find Elon's wallet in this imaginary garage of his! It's there, for sure, Elon must have dropped it on his way out…
Good luck!
SELECTED MEME OF THE DAY
