Malaya Ruiz
This Monday, The Shib Daily brings you the latest news in the crypto sector, featuring insights from Shytoshi Kusama’s new podcast episode on Fully Homomorphic Encryption (FHE) and the innovative Shib Identity System. Other updates delve into the closure of a DeFi platform following a settlement with the U.S. Securities and Exchange Commission (SEC) and potential policy shifts as a result of the creation of a crypto subcommittee.
Shytoshi Kusama Discusses FHE and Shib Identity System in Latest Podcast Episode
Shytoshi Kusama’s podcast has revealed groundbreaking news: quantum-proof data security through FHE. In the latest episode, he introduced a new operating system that enhances online privacy. Kusama emphasized that FHE allows for complete data encryption. Shiba Inu aims to lead in FHE technology, focusing on achieving true quantum-resistant data protection.
He also discussed the Shib Identity System. This system goes beyond financial uses, offering a comprehensive way for users to manage their identities. It enables them to control their data, deciding when to sell or share it. Kaal Dhairya, Shiba Inu’s tech expert, calls it the “Aviation Service,” which provides verifiable digital proof of identity.
Related: How to Create a Safe, Low-Cost Home Crypto Mining Setup That Works
Only 0.4% of Pump.fun Traders Earn $10K or More
According to Dune analyst Adam Tehc, traders on Pump.fun are struggling to make significant profits, with only 0.4% of wallets earning $10,000 or more. Just 294 wallets (0.002% of the total) have exceeded $1 million in profits. Pseudonymous analyst Alon dismissed these findings as FUD, arguing they overlook unrealized profits. He also contested Dune’s claim that many of the platform’s 13 million traders are seeing negative returns, noting that about 30% of wallets have made just one sell order.
Mango Markets to Cease Operations After SEC Settlement
DeFi platform Mango Markets is shutting down after settling with the SEC. The decision comes amid ongoing legal issues tied to a 2022 exploit. The platform recently urged users to close their positions. As part of the settlement, Mango DAO will pay $700,000 in penalties, destroy MNGO tokens, and seek their removal from trading platforms.
Related: Zama to Launch First-Ever Private Token Auction on Live Blockchain
Tim Scott Forms Crypto Subcommittee to Drive Digital Asset Legislation
Senator Tim Scott has announced the formation of the Senate Banking Committee’s first crypto subcommittee. This demonstrates the Republican commitment to advancing digital asset legislation. Senator Cynthia Lummis, a pro-crypto Republican, will lead the subcommittee. Additionally, freshman Senators Bernie Moreno, Dave McCormick, Thom Tillis, and Bill Hagerty may also participate.
Read more
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- WFH Crypto Scam Steals Over $2M From New Yorkers, Lawsuit Filed
- Shytoshi Kusama Blasts FUDders and Defends Shiba Inu Progress
MALAYA RUIZ
Malaya is dedicated to helping individuals share meaningful narratives about crypto, blockchain, and future tech. Her extensive experience in editing, copywriting, and publishing gives her a deep understanding of the craft of storytelling and collaboration, which she channels through Shiba Inu's official publications. Malaya owns two dogs and therefore has a special admiration for the Shiba Inu breed.
