CZ Issues AI Warning Following Binance Hack, STRC Repegs, And More – Weekly Recap

WEEK IN REVIEW

CZ Warns AI Is Outpacing Crypto Defenses After $6.3B Binance Hack

In his first interview since Binance suffered a record $6.3 billion hack, founder Changpeng Zhao warned that AI is accelerating cyberattacks…

Editor’s comment:

As a shareholder of the biggest crypto exchange, CZ might be biased, but based on the recent wave of worldwide hacks, exploits, and cyberattacks on regular companies, he may be right. Bitcoin and crypto in general may indeed be better equipped for the new tools that attackers have access to.

Bitcoin Giant Strategy’s STRC Hits $100 for First Time Since May After Daily Dividend Shift

Strategy’s STRC preferred shares reached the $100 mark on Wednesday for the first time since May, marking a significant…

Editor’s comment:

It seems like only yesterday (June) that STRC was trading at $70 and many were calling for a collapse of the alleged house of cards. However, buying at that precise moment would’ve given about a 45% return plus the 12% APY that STRC offers. You have to hand it to Saylor, Le, and the gang.

Binance Warns of Fake Compensation Offers as Withdrawals Resume

Binance warned that impersonators could exploit its withdrawal restart with fake compensation offers and fees for faster processing…

Editor’s comment:

We are at the point where every email, message, and phone call could be some sort of hack attempt. It is imperative that everyone who touches crypto (or anything) be obsessed with OpSec for the foreseeable future.

Bitmine Hits 99% of Ether Goal as Tom Lee Downplays Impact of $6.3B Binance Hack

Bitmine Immersion Technologies has moved closer to its ambitious goal of owning 5% of ether’s total supply, while Chairman Tom Lee…

Editor’s comment: He said he was going to do it, and he actually did it. It begs the question of what Tom Lee will do after Bitmine reaches its “Alchemy of 5%” goal. Does he go for 10% or move on to another crypto bet?

Blackrock, JPMorgan and Visa Bolster Grayscale’s Crypto Growth Case

Grayscale points to tokenized funds and stablecoin payments as evidence that crypto is becoming embedded in mainstream finance…

Editor’s comment:

Very few market participants doubt the trajectory of tokenization and stablecoins. The question is how regular investors can get exposure to it. Answering that question may end up being one of the best plays of the market cycle.