Kik got right here out with a sentence-by-sentence rebuttal to the SEC’s criticism against it, exhibiting that the SEC took quotes out of context to imply that the speakers had acknowledged the sincere reverse of what they’d supposed. The actual fact that Kik wrote this total reply, as against filing a motion to push aside, used to be, esteem its resolution to put up its Wells Response, a shock. I spoke with litigator Rebecca Rettig, who predicted they would make this switch, on this week’s Unconfirmed.

Additionally, be obvious now not to miss my filled with life conversation with but any other crypto attorney, Jake Chervinsky, on Unchained, in which he and I talked about all matters in terms of crypto regulation, along side the Kik case.

In other news, Binance used to be being extorted over alleged buyer data, which the hacker finally released in a Telegram community. And Coinbase experienced a setback in a case over its Bitcoin Cash launch, which would perchance finally hang wider implications for the industry.

The crypto weekend retreat at Omega Institute is canceled. I’m sad to express that I hang determined now not to proceed with the crypto workshop in September because I’d desire to commit that time to my e book. Hopefully after I turn it in, I will provide something the same.

This Week’s Crypto Recordsdata…

Binance Extorted Over Alleged Buyer Recordsdata

A hacker who to initiating with claimed to be a white hat has been attempting to extort Binance for a month (and let CoinDesk in on the negotiation) and this week released their alleged person data in a Telegram community. Binance says right here’s now not recent buyer data nonetheless appears to stem from a 2018 breach and can hang alive to an outdoors firm hired then to path of an influx of person price-united statesfor know-your-buyer regulations. This text from The Block is shorter than the plump CoinDesk saga. Binance is offering 25 bitcoins to anybody with knowledge that can aid title the hacker, says Bloomberg.

On a objective a miniature related expose, Binance CEO Changepeng Zhao (aka CZ) gave an interview to CoinDesk in which he opines on scorching matters in crypto now, along side the Binance.US launch, UK regulation, alternate hacks and insurance protection. His pragmatic snatch on Libra: “Don’t whinge about adoption.”

New Setback for Coinbase in Case Referring to Bitcoin Cash Start

(Scroll all the strategy down to the closing third for the evaluation on this case.) Coinbase filed a motion to push aside a case in accordance with something known as the commercial loss rule, which is that “one does now not hang an responsibility to declare life like care against the commercial lack of others.” The court docket rejected that, and in accordance with crypto attorney Stephen Palley, the importance down the road would perchance be that crypto businesses would perchance be held accountable for claims outdoors the contract.

North Korea Steals $2 Billion The use of Cyber Assaults, Including Crypto Alternate Hacks

In step with Reuters, which noticed a confidential U.N. document, the nation is the use of the $2 billion to fund its nuclear program. The document cites at the least 35 cases of North Korean hackers attacking financial institutions, cryptocurrency exchanges and mining declare at some stage in 17 countries. In presumably related news, CoinDesk reports that a South Korean watchdog will more carefully tune cryptocurrency exchanges.

Coinbase Diminutive print Detection of Refined Hack

In June, Coinbase foiled what appears to be a premeditated attempted hack, which it described in plump in a blog put up published Thursday.

Blockstream Will increase Bitcoin Mining Capability

Constancy and Reid Hoffman are customers of the mining service, which is initiating to endeavor customers and will initiating to smaller scale miners later. Crypto gadfly Tim Swanson calls proof of labor wasteful.

AT&T Staff Bribed to Free up More Than 2 Million Phones

Haven’t but separated your mobile phone number out of your mobile carrier from every indispensable story you hang? Then let this story of how rogue employees at mobile phone corporations would be with out narrate bribed to present hackers easy entry into your total accounts present you with motivation to attain so. (Discover the suitable method to be obvious any hackers who affect your mobile phone number earn nothing right here.)

On-Chain Stablecoin Transactions Outpace Venmo

TradeBlock notes that on-chain transactions in stablecoins (which excludes alternate declare) hit $37 billion in Q2, which used to be better than Venmo quantity. However, as Larry Cermak of the Block method out, one is trading and the different is payments, so it’s now not apples to apples.

Median ICO Return: -87%

Larry Cermak of The Block analyzes the ICO pattern, and it appears to be like esteem a basic bubble. Only 11% returned larger than 1,000%.

The Historical past of Bitcoin Mining in a Gif

Very frosty. From January 2009 to these days.