Tether to Start Mining Bitcoin in Uruguay [ Crypto Espresso 5.31.23 ]

It's Wednesday and you know what that Means news always news anyway I'm your Host Andrew and this is crypto espresso Your teeny tiny daily shot of Caffeinated crypto headlines and we here We go first up tether the issuer of the Largest stable coin in the market usdt Has announced its entry into the energy Sector with a focus on renewable energy Production for Bitcoin mining the Company said it will launch a Bitcoin Mining arm in Uruguay a country that Generates 94 of its electricity from Renewable resources such as wind and Solar on top of that the stablecoin Issuer said it will also invest in Uruguay's energy production industry and Hire more team members to support its Expansion the move is part of tether's Treasury management strategy which Involves investing up to 15 percent of Its net profit in Bitcoin previously Tether revealed that it held about 1.5 Billion dollars in Bitcoin which Accounts for about two percent of its Total reserves tether said that it aims To minimize the environmental impact of Bitcoin mining through the use use of Renewable energy sources while also Adding the security of the Bitcoin Network the US government may drop some Of the charges against former FTX CEO Sam bankman freed according to a court Document filed on May 29th the defense

Had argued that four of the charges Which include bribing Chinese officials And violating campaign Finance laws were Not part of the original indictment that Formed the basis for sbf's extradition They claimed that these charges breached The extradition treaty between the U.S And the Bahamas and should be dismissed The prosecutors countered that the Treaty does not bar the U.S from Charging a defendant with additional Crimes after extradition as long as they Do not detain try or punish him for These crimes without the consent of the Bahamas they said that they are Currently seeking a waiver from the Bahamas that would allow them to try Bankman Freedom 3 of these charges the Charge of making a legal campaign Contributions was listed in the original Indictment that Sam bankman freed agreed To as the basis for his extradition to The U.S according to prosecutors the Hearing for these potential dismissals Is scheduled for June 15th a zero-day Vulnerability and Tron multi-sig Accounts was discovered by a research Team at D wallet Labs which could have Put 500 million dollars of assets at Risk the vulnerability allowed any Signer to bypass the multi-sig security And approve transactions with a simple Signature instead of requiring multiple Signers as intended d-wallet Labs

Reported the issue to Tron back in February and it was fixed within days Multi-sig accounts are designed to Create joint accounts in crypto where Each signer holds their own keys and a Certain threshold of signatures is Needed to move funds however the D-wallet labs research team found that Tron's multi-sig verification process Was flawed as it checked the uniqueness Of signatures rather than the signers Themselves this allowed signers to Generate multiple valid signatures for The same message with the same private Key effectively double voting or signing Twice according to the research team no User assets were harmed by the Vulnerability as it was disclosed and Fixed pretty quickly the wahi brothers Ishan and nikhil have reached a Settlement with the SEC over charges of Insider trading involving crypto asset Securities the SEC alleged that ishan Wahi a former product manager at Coinbase used his access to confidential Information about upcoming listings of Nine crypto assets on the coinbase Platform to trade them before the public Announcements his brother nikhil also Participated in the scheme and benefited From the illegal trades the wahi Brothers agreed to pay disgorgement of Their ill-gotten gains plus pre-judgment Interest however the SEC did not seek

Civil penalties in light of the wahi Brothers prison sentences in a parallel Criminal case the settlement is subject To court approval the sec's director of Enforcement gubrir s grawal stated that The case shows that the SEC does not Tolerate insider trading in any form Including crypto asset Securities and Finally Dr saifadin Amos renowned Economist and author of the Bitcoin Standard will take on a new role as an Economic advisor to El Salvador's Bitcoin office which is responsible for Overseeing the integration of Bitcoin in To their economy Max Kaiser's senior Bitcoin advisor to the country expressed Delight at amus joining the team citing His influential book and contributions To the understanding of bitcoin's role As an alternative to Central Banking on Moose's expertise in Bitcoin and Monetary economics is expected to Provide valuable guidance as El Salvador Incorporates the digital currency into Its economy and here's something that You should incorporate into your viewing Of crypto espresso liking this video Subscribing to our YouTube channel and Clicking on that little bell icon to get Buzzed whenever a new crypto espresso Video goes live thoughts on today's Episode well just drop me a line in that Comment section below because I read Them and sometimes I take them far too

Seriously questions about our headlines And crypto in general take the plunge And desk Alex in that description below Alex is always a great resource for all Things web 3 and the metaverse and that About does it for today as always I've Been your host Andrew these have been Your headlines and we'll see all of your Beautiful shining faces tomorrow