This week, Ledger found itself embroiled in a brutal PR crisis after announcing its social recovery service, Ledger Recover.
Ledger Recover is an optional, subscription-based service that acts as a backup for users who lose their private keys. Recover splits your private key into three encrypted pieces to be sent through “secure channels” to three different custodial entities, one of which is Ledger themselves. For the full private key to be restored, all three shards are needed.
So are Ledger wallets safe? The gist of it is: yes they seem to be. But Ledger's fiasco this week showcased that users still have to place some trust in the company.
Artificial intelligence threatens to displace the job market, and lawmakers on the Senate Judiciary subcommittee on Privacy, Technology and the Law want to know how OpenAI plans to self-regulate artificial intelligence.
Altman acknowledged that AI technology could “go quite wrong”, that there will be an impact on the labor market, that it could erode democratic institutions through targeted misinformation during elections, but that he wants to “work with the government to prevent that from happening”.
He recommended a new regulatory agency to be formed to regulate and license AI companies and said that OpenAI should be independently audited.
Senators in the subcommittee raised the need for new laws so OpenAI could more easily be sued. Senator Richard Blumenthal said that an AI-dominated future “is not necessarily the future that we want”.
Alchemygreg got 20% gains using Bankless trading strategies last week 🚀
Worldcoin, the digital identity project by ChatGPT co-founder Sam Altman, widely launched its World App crypto wallet this past week. The app already boasts 1.6 million registered users, of which 500K are active users.
World App hosts an open source and self-custodial wallet, as well as World ID, a digital identity authenticator for users to sign into websites or crypto dapps, claim UBI-like “Worldcoin Grants,” and send crypto.
You can now stake your ETH through MetaMask with liquid staking providers, Lido and Rocket Pool. Head over to MetaMask Portfolio to get started! You can also view your assets in one place and discover other features such as Buy, Swap, and Bridge.
When you’ve successfully launched an enduring memecoin and secured the backing of Elon Musk, the next logical thing to do is… make more memecoins.
Taking notes from Bitcoin’s success with the Ordinals protocol, Dogecoin developers introduced their own DRC-20 fungible token standard this week, paving the way for a potential DeFi ecosystem to be built on top of it.
Transaction volumes on the chain immediately pumped to all-time-highs of 1.1 million transactions as of Wednesday, surpassing Bitcoin and Litecoin chains.
Florida Governor and expected 2024 presidential candidate Ron DeSantis has signed a bill banning the government’s use of a central bank digital currency (CBDC) in the state.
Casting CBDCs as “Big Brother’s Digital Dollar,” DeSantis has heavily embraced a pro-crypto policy platform that rejects CBDCs as an authoritarian tool that governments can use to curtail the financial freedom of Americans.
Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time we may add links in this newsletter to products we use. We may receive commission if you make a purchase through one of these links. Additionally, the Bankless team hold crypto assets. See our investment disclosures here. | Terms & Conditions – Privacy Policy
