Cardano's Charles Hoskinson Launches $1 Million Challenge to ADA Community, BlackRock Bitcoin ETF Hits Another Historic Milestone: Crypto News Digest by U.Today

U.Today - Let's see what news the past weekend has brought with a summary of U.Today's top three news stories.

Cardano founder launches $1 million challenge to ADA community: Details

In a recent X post, Cardano founder Charles Hoskinson has addressed the ADA community, challenging its members with hacking a Lace Paper Wallet, a new security feature of Cardano Web3 wallet Lace. Hoskinson announced at the recent Rare Evo 2024 that a $1 million USDM bounty is waiting for anyone who could hack and gain control of Lace Paper Wallet. "If you can hack it; You can keep it! 1 million dollars!" reads the Cardano founder's X post. As stated on Lace's website, thanks to the Paper Wallet feature, users with existing PGP keys can now back up their wallet with a single encrypted QR code. The Lace Paper Wallet Bug Bounty Program will stay open until the end of 2024 — or until someone hacks it.

BlackRock (NYSE:BLK) Bitcoin ETF hits another historic milestone

Nate Geraci, the president of ETFStore, has recently taken to the X platform to underscore the success of the BlackRock iShares Bitcoin Trust (IBIT) demonstrated this year. According to Geraci's post, since IBIT's launch in January 2024, it has recorded only one day of outflow. The ETFStore's president pointed out that the product has seen up to $20.5 billion in inflows, describing IBIT as the "top launch of 2024." "This is exactly what 'no demand' looks like," Geraci added ironically. Last week, Geraci wrote on his X handle that BlackRock’s IBIT, Fidelity’s FBTC, Ark Invest’s ARKB and Bitwise’s BITB are the top four spot Bitcoin ETFs launched in 2024.

"Rich Dad Poor Dad" author Kiyosaki warns to move your money to Bitcoin

"Rich Dad Poor Dad" author Robert Kiyosaki continues to support Bitcoin, the largest crypto, as a crucial component of a diversified investment plan. In his X post from Aug. 18, Kiyosaki reminded his followers of how important it is to invest in assets outside the traditional financial system as a way to be prepared for economic uncertainty. The author wrote about two kinds of "panics:" panics in capital markets and panics in banks. According to Kiyosaki, unlike the crashes in stocks, bonds or real estate that are obvious to most, the banking crash can go completely unnoticed to the public. This hidden risk is only partially mitigated by FDIC insurance, which covers deposits up to $250,000. However, Kiyosaki questions the safety of relying solely on this protection and urges individuals to consider alternatives such as gold, silver and Bitcoin.

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