A Dangerous new home for online extremism

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The Blends Briefs
TL’DR: Here’s a sneak peek into today’s newsletter

• A Dangerous new home for online extremism.

• Bitwise becomes the first Spot Bitcoin ETF to provide Wallet Address.

• Telefónica launches Solana-Powered Helium mobile hotspots in Mexico.

• Swiss crypto bank Sygnum reaches a $900 million valuation.

• Dictionomics: Crypto Disputes

Global Biscuits

A Dangerous new home for online extremism.
Julia Ebner a senior resident research fellow at ISD, and author of Going Mainstream: How Extremists are Taking Over, recently published an article on WIRED discussing how Decentralized Autonomous Organizations, or DAOs, offer independently-minded internet users a safe haven—but it’s also a boon to those with a darker purpose.

The article discusses the potential misuse of DAOs by extremist groups. DAOs, which operate based on blockchain and allow collaborative governance without central leadership, have gained popularity, with over 10,000 already in existence. While many DAOs focus on innocent or humorous objectives, there is concern that extremists might use them to create self-governed digital entities with ideologies such as a digital white ethnostate or cyber caliphate. The article highlights the risk of DAOs becoming safe havens for extremist activities, challenging the rule of law and posing threats to minority groups and democratic institutions.

Bitwise becomes the first Spot Bitcoin ETF to provide Wallet Address.
Bitwise, the crypto asset manager, has become the first spot bitcoin exchange-traded fund (ETF) issuer to share its digital wallet address with the public. The move is aimed at increasing transparency, allowing anyone to verify the Bitwise Bitcoin ETF's holdings and flows directly on the blockchain. The company emphasized that on-chain transparency is core to bitcoin's ethos and hopes to do more in the future, such as providing real-time cryptographic attestations in collaboration with other firms. Industry experts have applauded the move, considering it an important step toward on-chain accounting and transparency for ETFs.

Tastes of the regions

Telefónica launches Solana-Powered Helium mobile hotspots in Mexico.
Telefónica, a global telecommunications provider, has partnered with Nova Labs to deploy Helium Mobile hotspots in Mexico City and Oaxaca. These hotspots leverage the Helium 5G network, providing Telefónica with the capability to offload mobile data traffic and extend coverage in Mexico. The hotspots connect to Telefónica's network using customers' existing SIM cards for authentication while allowing data transmission over the Helium 5G network. Nova Labs, the startup behind Helium Mobile, utilizes a decentralized wireless network where users running nodes or hotspots earn crypto tokens on Solana as incentives. Telefónica aims to explore innovative, cost-effective solutions to expand coverage, with the partnership serving as an evaluation of performance, customer satisfaction, and associated costs.

Swiss crypto bank Sygnum reaches a $900 million valuation.
Swiss crypto banking group Sygnum has closed a $40 million funding round led by Azimut Holdings, valuing the company at $900 million. The funds will be used to expand into new markets in Europe and Asia. This comes after Sygnum closed a $90 million funding round in January 2022, valuing the firm at $800 million. Since then, the bank's assets under management have grown to $4 billion, serving 1,700 clients from over 60 countries. The latest funding round aims to support Sygnum in building out its suite of fully regulated solutions as investors increasingly seek trustworthy financial institutions in the emerging crypto landscape.

Dictionomics:   Crypto Disputes

Crypto disputes are legal conflicts that arise from the use, exchange, or regulation of cryptocurrencies and related technologies. Crypto disputes can involve various parties, such as individuals, businesses, governments, or intermediaries. 

Some common types of crypto disputes are:

• Contract disputes: These are disputes over the terms, performance, or enforcement of contracts that involve cryptocurrencies or blockchain platforms. For example, a dispute may arise when a party fails to deliver the agreed amount of crypto assets, or when a smart contract executes in an unexpected way.

• Fraud disputes: These are disputes over the misrepresentation, deception, or manipulation of information or transactions related to cryptocurrencies or blockchain platforms. For example, a dispute may arise when a party is scammed by a fraudulent initial coin offering (ICO), or when a party loses access to their crypto assets due to a phishing attack.

• Regulatory disputes: These are disputes over the compliance, interpretation, or application of laws and regulations that affect cryptocurrencies or blockchain platforms. For example, a dispute may arise when a party faces legal action from a government agency for violating anti-money laundering (AML) or securities laws or when a party challenges the validity or scope of a regulatory framework for cryptocurrencies or blockchain platforms.

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