ProBit Bits — ProBit Global’s Weekly Blockchain Bits Vol. 95

Published date:

 Massive $3.3 Billion From Optimism to Fund New Crypto Projects

Optimism revealed a $3.30 billion funding plan to support developers using the Retroactive Pubic Goods Funding model, aiming to rewarding projects contributing meaningfully to the chain. Optimism is putting in 850 million OP tokens to incentivize projects that contribute to the Optimism ecosystem, focusing on areas like protocol development, infrastructure, governance and overall user experience. The funding program is planned to roll out in multiple rounds in 2024 with guidelines for projects to follow. This is a great opportunity for developers to participate and earn potential funding, however there have been concerns raised in the community regarding priority for developers over investors.

 Bitcoin’s 5th biggest Whale Moves Over $6 Billion worth of Bitcoin

A Bitcoin whale made headlines this week, known as “37X”, recently made a significant move by transferring $6 Billion worth of BTC to three new addresses, making their first transfer since 2019. This whale moved nearly all their balance of 94,500 Bitcoin, valued at $6.05 billion on 23 March 2024, only keeping about 1.4 Bitcoin in the original address. The transfer is happening right before the Bitcoin Halving event next month which signals more interests in crypto as institutional investors have been accumulating Bitcoin these past few months.

 El Salvador’s Leader Nayib Bukele Updates Bitcoin Holdings

President Nayib Bukele, known for making Bitcoin a legal tender for El Salvador back in 2021 has provided an update to the nation’s Bitcoin holdings. President Nayib Bukele revealed that the nation now has 5,700 Bitcoins compared to around 5,690 in mid March with the reserves now valued at over $400 million. In addition, the Bitcoin holdings have been moved to a cold storage, adding a security layer for protection. Additionally, El Salvador has a proactive approach to Bitcoin, eliminating income tax on foreign investments, even offering citizenship to Bitcoin investors who donate to the government, showing a crypto friendly environment for web3 investors.

 Apple's M Chips Vulnerability Exposes Crypto Keys on Macs and iPads

An exploit has been identified in Apple’s M series chips used in Macs and Ipads, giving hackers access to cryptographic keys and codes. This flaw, related to a technique called “prefetching” used for enhancing device performance can be exploited to retrieve data. This can cause devices with M1, M2 and M3 processors to be at risk while older Apple devices with Intel chips are not vulnerable. There isn’t a simple patch available yet to fix the issue, so users are advised to transfer their crypto assets into cold wallets to prevent their crypto being drained.

 HSBC's Gold Token Now Available for Retail Investors in Hong Kong

HSBC has introduced the HSBC Gold Token, the first bank to tokenize gold for retail investors in Hong Kong. This use of real world assets is minted on HSBC's Orion digital assets platform and can be accessed through HSBC online banking and the HSBC HK Mobile App. Thus, showing a growing trend among banks and financial institutions, adopting blockchain technology for transparency and security. With the release of the world's first Gold Token RWA, it marks a huge milestone for the crypto industry.

. . .

Are there any crypto trends and issues that seem unclear to you?

A suggestion or comment?

Or do you just need an ELI5 (explain like I am 5) on a particular crypto term or topic?

Feel free to drop us a line below and we’ll do our best to shed more light. We are always here to answer your questions.

Follow us on Twitter and Telegram for more info including notes on new crypto gems set to break out onto the big stage.

Don’t miss out!

Related articles