Episode Details

14th Sep: Crypto & Coffee at 8 🎙️
💰Paxos $500K transaction fee❓ Swift enrols 3 central banks in CBDC🚨 SEC Charges Stoner Cats ⚡Coinbase to integrate Lightning Network

💰 Paxos confirms it’s responsible for $500K mistaken Bitcoin transaction
The account that paid $500,000 to move $2,000 worth of Bitcoin was a Paxos server, the company stated. More info via Cointelegraph
https://lnkd.in/dKuRpjaG
🔥 Approximately 20 BTC (over $515,000 worth at the time) to send just 0.07 BTC (worth less than $2,000). 
🚨 Luckily the block that contained the transaction was confirmed by Bitcoin mining pool f2pool. On Sept. 10, the pool’s management offered to return the funds to whoever sent the transaction if a claim was made within three days.

❗ On September 13, Swift, the bank messaging platform, disclosed that three central banks have officially entered the beta phase of its project focused on achieving interoperability for central bank digital currencies (CBDCs). The Hong Kong Monetary Authority, the Central Bank of Kazakhstan and an unnamed central bank have integrated their infrastructure with SWIFT’s “CBDC connector solution” for direct testing, the company said. Article here https://lnkd.in/dM6KJbJa

❗ According to The Atlantic Council, 130 countries, representing 98% of GDP, are now exploring CBDCs. Nineteen of the G20 countries are in the advanced stages of CBDC development, with nine already in pilot.

🚨 The U.S. Securities and Exchange Commission charged Stoner Cats 2 LLC (SC2) with conducting an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs) that raised approximately $8 million from investors to finance an animated web series called Stoner Cats. Official info here https://lnkd.in/dPrNWs7z Check out Blockchain DXB’s Crypto & Coffee at 8 podcasts for a breakdown of this We discuss:
- What is Stoner Cats 2 LLC (SC2) & and WTF did they do
- Why is the SEC involved & and what did they find?
- What are the consequences for SC2
- Why is this news significant

⚡ LN
⚡ Coinbase’s founder and CEO, Brian Armstrong, has confirmed that the company is in the process of integrating the Lightning Network (LN), which is a second-layer scaling protocol for Bitcoin. Armstrong stressed the significance of Bitcoin, describing it as the most crucial asset in the cryptocurrency space. He also noted that the integration of the Lightning Network would be a complex task that would take some time to accomplish. Info via Twitter here https://lnkd.in/d__HWRmY

⚡ Is Lightning Network Lightning years