🗿 Ledger Wants Your Seed Phrase 🔐

Today’s No FOMO newsletter is brought to you by…

GM. Ledger is trying to steal your identity, AI is already developing human reasoning, BTC Miami is flopping, and worldwide regulation is a mess.

In lighter news, Andrew Tate blocked us on Twitter, and we might ratio Matt Walsh. Happy Friday.

Today’s Specials:

No FOMO 🗿: Ledger Wants Your Seed Phrase 🔐

No Fomo News 📰: FTX Units Sue Shareholders 👨‍⚖️

Regulation Watch 🕵️‍♀️: EU pushes world's First Comprehensive Crypto Rules 📋

Weekend Alpha: What to Watch 📅: BTC Miami a Flop? 🤔

AI Intel 🤖: AI Shows Signs of Human Reasoning 🧠

Just for Fun🤡: Andrew Tate Blocked Us 🤣

Ledger Wants Your Seed Phrase 🔐

Ledger shook the crypto world Tuesday. They released a new update that allows users to link their seed phrase to their passport or ID to recover lost or stolen wallets.

Here are a few highlights:

• Ledger introduced Ledger Recover, a service that backs up crypto seed phrases but requires users to provide their passport or national ID for identity verification.

• The crypto community is rightfully concerned about relying on the security of Ledger and other companies involved in storing encrypted fragments of the seed phrase.

• Some users worry that if a hacker gains access to both the service and user ID, they could recover the seed phrase and access locked funds.

• Ledger argues that additional security measures, such as liveness detection, are in place to prevent unauthorized access.

• Social recovery, where users choose trusted guardians to approve recovery, is considered a more secure alternative that eliminates the need to provide a passport or ID

We spoke to the Founder of Xverse, Ken Liao, during the Bitcoin Builders Conference. He thinks this shift toward user convenience and seed recovery is inevitable, and all wallets will have this feature in the future.

No FOMO News 📰

• FTX Units Sue Embed Shareholders, Seek to Retrieve $6.9M (CoinDesk)

• Bankrupt crypto lender Voyager Digital predicts 35% customer payout (Reuters)

• Former CFO indicted for diverting $35M to cryptocurrency venture (Cointelegraph)

• Tether to Buy More Bitcoin for Stablecoin Reserves (Wall Street Journal)

• One of Crypto’s Biggest Players Is Hoarding Bitcoin. What It Means for Prices (Barron’s)

• Bankrupt Crypto Company Celsius Could Get New Life From Wall Street (Wall Street Journal)

Regulation Watch 🕵️‍♀️

Regulation talks have been heating up around the world recently with some wildly different strategies being put into place.

Europe seems to be the only logical group trying to move forward with something productive by 2024. Meanwhile, Pakistan has banned crypto again, and some UK old heads think crypto is gambling. Here are the full highlights:

• EU states approve world's first comprehensive crypto rules (Reuters)

• Ripple CEO says more crypto firms may leave U.S. due to ‘confusing’ rules (CNBC)

• Pakistan Announces Fresh Ban on Crypto, but Adoption as a Hedge Remains Popular (CoinDesk)

• Kraken, UK trade body derides lawmaker description of crypto as ‘gambling’ (Cointelegraph)

Weekend Alpha – What to Watch 📅 

• $PEPE is now live on Kraken… will the bull run continue?

• BTC Miami is already getting bad press. We’ll come back Tuesday with our boots-on-the-ground review of the weekend 🌴

AI Intel 🤖

• Meta pulls the curtain back on its A.I. chips for the first time (CNBC)

• NYC public schools opening the door to greater use of AI, loosening reins on ChatGPT (NY Daily News)

• AI Has Evolved to Reason Like Humans, Scientists Say (Popular Mechanics)

• Sam Altman: CEO of OpenAI calls for US to regulate artificial intelligence (BBC)

• Italy sets aside millions for workers at risk of AI replacement (Cointelegraph)

• US senator introduces bill to create a federal agency to regulate AI (CNN)

• BT to cut up to 55,000 jobs by 2030 as fibre and AI arrive (Reuters)

• A secretive annual meeting attended by the world’s elite has A.I. top of the agenda (CNBC)

Just for Fun 🤡

1. Andrew Tate blocked us

2. We’re gonna ratio Matt Walsh lmao

Shameless Shill + Alpha

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