U.Today – Let’s check out what news the past weekend brought by summarizing the three most essential U.Today news stories.
Founder Launches $1 Million Challenge to ADA Community: Details
In a recent post, Cardano founder X Charles Hoskinson addressed the ADA community, challenging its members to hack the Lace Paper Wallet, a up-to-date security feature of Cardano’s Web3 Lace wallet. Hoskinson announced at the recent Rare Evo 2024 that a $1 million USDM bounty awaits anyone who can hack and take control of the Lace Paper Wallet. “If you can hack it; You can keep it! $1 million!” reads Cardano founder X’s post. As noted on Lace’s website, the Paper Wallet feature now allows users with existing PGP keys to back up their wallet with a single encrypted QR code. The Lace Paper Wallet bug bounty program will remain open until the end of 2024 — or until someone hacks it.
BlackRock (NYSE:) ETF Achieves Another Historic Milestone
ETFStore CEO Nate Geraci recently took to the X platform to highlight the success that BlackRock’s iShares Bitcoin Trust (IBIT) has demonstrated this year. According to Geraci’s post, IBIT has only seen one day of outflows since its launch in January 2024. The ETFStore CEO noted that the product has seen up to $20.5 billion in inflows, describing IBIT as the “best launch of 2024.” “This is exactly what ‘lack of demand’ looks like,” Geraci added wryly. Last week, Geraci wrote on his X account that BlackRock’s IBIT, Fidelity’s FBTC, ArkB Ark Invest, and Bitwise’s BITB are the four best spot Bitcoin ETFs to launch in 2024.
‘Rich Dad Poor Dad’ Author Kiyosaki Warns Against Moving Money to Bitcoin
“Rich Dad Poor Dad” author Robert Kiyosaki continues to support Bitcoin, the largest cryptocurrency, as a key part of a diversified investment plan. In his August 18 post, X, Kiyosaki reminded his followers of the importance of investing in assets outside the classic financial system to be prepared for economic uncertainty. The author wrote about two types of “panics”: a panic in the capital markets and a panic in the banks. According to Kiyosaki, unlike stock, bond, or housing crashes that are obvious to most, a bank crash can go completely unnoticed by the public. This hidden risk is only partially mitigated by FDIC insurance, which covers deposits up to $250,000. However, Kiyosaki questions the safety of relying on this protection alone and urges individuals to consider alternatives such as gold, silver, and Bitcoin.
