Hello Crypto Enthusiasts!

We apologies for the delay today, our team is traveling to Bitcoin Hong Kong 2024 come say hi if you see us there.

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Arthur Hayes Crypto Forecasts: BitMEX co-founder Arthur Hayes predicts a favorable period for crypto accumulation, citing current price consolidation as an opportunity before macroeconomic factors trigger the next bullish surge.

2. Tom Brady Roasted Over Crypto Affiliation: Former NFL star Tom Brady faces comedic jabs over his association with the now-defunct crypto exchange FTX during Netflix’s “The Roast of Tom Brady.”

3. Poloniex Hacker Launders $3.3M in Ether: The hacker responsible for the $125 million theft from Poloniex's hot wallets launders 1,100 ether (ETH), valued at approximately $3.3 million, through the coin mixer Tornado Cash.

4. 💡Feature of the Day - Ethereum Developers' EIP-3074: Ethereum developers introduce EIP-3074, a proposed code change aimed at improving the user experience and security of crypto wallets on the blockchain.

📰 News Highlights:

📈 Arthur Hayes Crypto Forecasts [Source]

BitMEX co-founder Arthur Hayes anticipates a promising window for crypto accumulation in the coming months. Hayes asserts that the current phase of price consolidation presents an opportune moment for investors to enter the market before macroeconomic factors catalyze the next bullish surge.

As inflationary monetary policies continue to dominate global economic narratives, Hayes predicts that Bitcoin and the wider cryptocurrency market will witness upward momentum later in the year.

With major economies poised to increase money supply over the next 18 to 24 months, Hayes highlights the potential impact on crypto markets, particularly amidst the backdrop of the upcoming United States presidential elections.

🤣 Tom Brady Roasted Over Crypto Affiliation [Source][Source]

Former NFL star Tom Brady finds himself at the center of comedic jabs over his association with the now-defunct crypto exchange FTX. During Netflix’s “The Roast of Tom Brady,” comedians seized the opportunity to mock Brady’s involvement with the bankrupt exchange, generating viral quips that resonated across social media platforms.

Comedian Kevin Hart set the tone with humorous jabs at Brady's financial entanglements, alluding to the exchange's collapse and its implications for investors. The roast featured playful references to Brady's career, personal life, and his high-profile endorsement deals, including his partnership with FTX.

Brady's role as a promoter for FTX, alongside his former wife Giselle Bündchen, attracted scrutiny following the exchange's demise in November 2022.

🔐 Ethereum Developers' EIP-3074 [Source][Source][Source][Source]

Ethereum developers unveil EIP-3074, a proposed code change aimed at improving the user experience and security of crypto wallets on the blockchain.

The proposal seeks to enhance the programmability of externally owned accounts (EOAs), enabling smart contracts to authorize transactions and delegate transaction capabilities.

While EIP-3074 garners support for its potential to simplify wallet interactions and unlock new functionalities, concerns linger over security implications, particularly regarding batched transactions.

Critics caution against rushing implementation due to potential vulnerabilities and security risks associated with off-chain signatures.

💡 Feature of the Day: 

💰 Poloniex Hacker Launders $3.3M in Ether [Source][Source]

The notorious hacker responsible for the $125 million theft from Poloniex's hot wallets orchestrates a series of transactions totaling 1,100 ether (ETH), valued at approximately $3.3 million, through the sanctioned coin mixer Tornado Cash.

The hacker's actions come after a prolonged period of dormancy, raising concerns over the potential laundering of stolen funds.

In addition to the ether transfers, the hacker also moves 501 bitcoin (BTC), equivalent to $32 million, to an undisclosed wallet. Despite regulatory efforts to curb money laundering, sophisticated hackers continue to exploit vulnerabilities in crypto infrastructure.

😂 Crypto Meme of the Day: 

And that’s it for this today.
See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com