Episode Details

06th May: Crypto & Coffee at 8

🟠 MicroStrategy’s Decentralized Identity protocol 🚨 Coinbase faces new lawsuit 🟠 Block‘DCA’ing’ into 🟠#BTC BTC-e, $9B money laundering

🟠 Bitcoin for Corporations May 1 — May 2, 2024

⚡ Michael Saylor announced the Orange protocol for decentralized identification, hoping to anchor digital identities in the dominant blockchain.

🟠MicroStrategy Orange Decentralized Identity protocol❗

❗ According to the MicroStrategy Orange documentation, the decentralized identity protocol uses a modified approach to inscriptions as Ordinals, but stores only data related to decentralized identity (DID), meaning documents can be created and updated with few restrictions on size and content while taking advantage of the segregated witness (SegWit) feature of Bitcoin. MicroStrategy Orange decentralized identifier could also be used to verify users on social media applications or authenticate a text message, college degree or medical record.

🟠 MicroStrategy published an unofficial draft of the MicroStrategy Orange specification to Github. https://tinyurl.com/2r8krcez Source via Decrypt https://tinyurl.com/3memkkxn

🚨 Coinbase and its CEO Brian Armstrong face a class-action lawsuit alleging investor deception and illegal business practices. The lawsuit claims several cryptocurrencies on Coinbase are securities, violating state laws. Coinbase disputes this. Meanwhile, a crypto lawyer filed a brief supporting an appeal on behalf of over 4,700 Coinbase customers. Despite legal challenges, Coinbase reported strong financial performance in Q1 2024, driven by market performance and Bitcoin exchange-traded funds. Official lawsuit details here https://tinyurl.com/389wh4hy

🔵Cenorship King & Twitter co-founder Jack Dorsey s new company Block will flip 10% of its gross profit made off its Bitcoin products into buying BTC every month. Block bought $220 million worth of BTC between the fourth quarter of 2020 and the first quarter of 2021. Its latest earnings detailed that Block held 8,038 Bitcoin BTC as of March 31, worth around $573 million, with reported paper gains of $233 million. According to Censorship King open protocol could benefit Block by helping it “serve more people around the world faster. Important to note “less than 3% of company resources are dedicated to Bitcoin-related projects.” https://tinyurl.com/yyw4hjav

🟠 BTC-e Operator Pleads Guilty to Money Laundering Conspiracy. The exchange moved over $9B worth of transactions; The defendant caused criminal losses in excess of $100M. Laundering related to his role in operating the cryptocurrency exchange BTC-e from 2011 to 2017. Official info here by U.S. Department of Justice 

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