Crypto Market Overview
We start off with fresh news from Russia as their largest state-owned bank, Sberbank reportedly cancelling all their plans to integrate cryptocurrency on their platform, although not specifying which platform. This decision follows a statement from Russia’s central bank and maintaining a negative stance towards the industry. It will certainly be interesting to continue following how some of the largest countries in the world grapple with bitcoin. Although the price does not seem to be affected by this negative news.
🙄Our next story is relatively comical, following up on the Craig Wright/ Satoshi saga: Chinese citizen Weir Liu also claims US copyright for bitcoin white paper. Nothing stops Liu or CSW from making a copyright claim like they have, the submission is simply a statement that the facts are true in their claim. As entrepreneur and bitcoin core developer Jimmy Song puts it: “that CSW is a publicity-seeking con-man, but we already knew that.” It seems unfortunately that Craig Wright is not alone, but it could add to the absurdity of his claim.
😳🤷Following up on the May 2017 fork of bitcoin into bitcoin core and bitcoin cash, there was a reported 51% attack executed on the POW network. Perpetrated by BTC.top and BTC.com the attack was not done with malicious intent, but rather to prevent an unknown miner from taking coins that were sent to an “anyone can spend” address. 51% attacks have generally been considered an undesirable and unprofitable option to take funds, as it would require a massive amount of computing power, and once a network is considered compromised, users would ostensibly flee.
https://cointelegraph.com/news/two-miners-purportedly-execute-51-attack-on-bitcoin-cash-blockchain
😬Most of us are familiar with the wide sanctions that the US Government has foisted upon the North Korean regime, and it could have caused the NK government to perpetrate crypto hacks as a result. These reports were made by Tonya Ugoretz, the FBI’s assistant director of cyber security. These attacks range from the 2017 WannaCry attack to various others in South Korea and beyond.
📈There has recently been a fake news story stating that Craig Wright transferred 50,000 bitcoin from the biggest wallet in existence to a cryptocurrency exchange Binance. This story also included bits about CZ (Binance’s CEO) making an apology to Wright and to re-list Bitcoin SV and caused the price to surge 30% in 24 hours on 5/30. It seems as if the CSW/ Satoshi saga is only just beginning
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