This week, lawmakers in Washington D.C. got together to discuss the truth about UFOs, and how they are reported. A former intelligence officer swore under oath that the U.S. was harboring "intact and partially intact" and "non-human" pilots. Meanwhile, most members of Congress were a little more grounded [pun very much intended], and simply demanded more clarity in the reporting of such events. If only they would demand more clarity when it comes to how crypto is regulated...
So what prompted the powers that be in Washington to go all X-Files this week? Could it have been Elon Musk's overnight renaming of the Twitter social media platform to X? Musk also added the Dogecoin logo to his new X profile, sending fanboys into a frenzy. He clearly hopes that the rebrand can stem the flow of ex-users and attract more X-users.
Crypto Twitter (X?) also went into a frenzy over pictures of Sam Bankman-Fried walking in NYC near the Southern District DoJ office. Could he have been turning state's evidence?... or just visiting his lawyer's office, which was also nearby... Not gaining quite as much traction was a tweet from the EOS Foundation announcing that it would sue EOS creator Block.one for not investing a promised $1 billion in the platform. Receiving just eight replies in a week suggests that it perhaps isn't as hot a topic as the foundation thinks.
Two stories this week featured ideas from the mind of Arthur Hayes. The Ethena stablecoin, which recently raised $6.5 million from investors including the ex-BitMEX supremo, further develops his concept for a Bitcoin-based stablecoin, albeit on the Ethereum blockchain. Meanwhile, the Bitcoin maximalist spoke out on why he believes that Ethereum will power the future of AI.
Obviously, we can't get through an entire week without the U.S. SEC casting more shade on the crypto market. In its lawsuit against Binance.US, it alleges that the firm was well aware that there were no effective processes in place to prevent wash-trading on the platform. And after the Ripple ruling threatened to undermine the SEC's 'War on Crypto', it has refocused its attention on accountants, who were warned of the dangers in servicing those 'sneaky crypto weasels'.
The Bank of Japan brought together a working forum of companies to get input on its potential digital yen from a business perspective. Meanwhile, accounting giant Deloitte teamed up with Chainalysis to provide blockchain compliance services to U.S. law enforcement, regulators and financial institutions.
Cross-chain bridge, Wormhole, launched its Gateway blockchain on Cosmos, connecting all 23 of the chains currently bridged by Wormhole to potentially every chain on the Cosmos ecosystem.
And AI entrepreneur Sam Altman launched his Worldcoin iris scanning service on Monday. Though the platform promises to immediately delete all 'humanity-proving' data, there were still fears over what might happen if whatever has been flying all those UFOs around gets hold of a database of human eyeball photos.