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Crypto News: Is Satoshi Nakamoto active again on X?

Crypto News: Is Satoshi Nakamoto active again on X?

Welcome to another new crypto news summary. Do you want to know what news there was within the world of cryptocurrency this week? Then read on quickly!

Bitcoin creator Satoshi Nakamoto back active on X after 5 years

The mastermind behind Bitcoin (BTC), Satoshi Nakamoto, is to this day the biggest mystery in the world of cryptocurrency. Satoshi said "goodbye" to the crypto community in 2011 and has not been heard from since. Now Satoshi Nakamoto's official X account has sent another message into the world after five years of silence, so the question circulating in the crypto community is whether this might be the "real" Satoshi behind this message.

In May 2018, an account was created on Twitter under the name of Satoshi Nakamoto. The account is still verified and has a whopping 56,000 followers. After as much as 5 years of radio silence, the account came up with another message this week.

This post, which has now been viewed nearly 6.5 million times, indicates that the next few months will be spent exploring additional key issues about Bitcoin that were left out of the original 2008 white paper.

Verifying an account has little meaning because it can easily be done with a subscription. It is more likely that someone is pretending to be Satoshi Nakamoto than actually managing the account. Whether Satoshi Nakamoto is still alive is unknown. Since there have been no official reports for years, speculation about his identity has been rife for quite some time. The emergence of this X account revives this discussion.

People have their eyes scanned in exchange for crypto

The Worldcoin project is achieving remarkable success in Chile. About 200,000 Chileans have already had their eyes scanned by Worldcoin's "Orbs" in exchange for free crypto. People who participate voluntarily have their eyes scanned, resulting in the collection of biometric data. As a reward, participants receive WLD tokens, Worldcoin's cryptocurrency.

Worldcoin's project has a large investor following. The reward for participating in the scan currently provides 25 WLD tokens, which amounts to about €40.

In Chile, this is a sizable bonus. The minimum wage in this country amounts to only 460,000 Chilean pesos per month, in euros this is €500. This means that Worldcoin's initiative offers participants about 8% of their wages.

Dutch crypto companies win in DNB lawsuit

As many as 11 Dutch crypto companies sued De Nederlandsche Bank (DNB) in May 2023. Namely, the regulator was alleged to have sent far too high bills to them for years.

This week, the Rotterdam court decided that they agreed and that the DNB must refund the charges. The amount the DNB has to repay runs into the millions, meaning this is a huge victory for Dutch companies.

Previously, all costs incurred by the DNB in supervising crypto companies were passed on in full to these companies. However, eleven of these companies disagreed and filed a lawsuit. In 2020, these costs amounted to €1.7 million, rising to €3.9 million in 2023.

The court ruled that the DNB can only charge the crypto companies a portion of these costs. The overcharged amount must be repaid by the regulator. At the moment it is unknown what amount is involved, but the 2020 and 2021 bills have already been considered.

The biggest crypto lawsuit ever has begun

After a long preparation, the trial of former top executive of the collapsed crypto exchange FTX, Sam Bankman-Fried, has begun. Meanwhile, the event surrounding FTX is known as one of the largest financial fraud cases in history.

Sam Bankman-Fried is facing charges for allegedly using customer deposits from the FTX exchange to cover losses from Alameda Research, a sister company to FTX. At stake is a total of $8 billion in customer deposits. Although it has already been admitted that Bankman-Fried did not have his paperwork completely in order in the past, he still maintains his innocence.

All in all, this trial promises to be an exciting one. 11 months after the implosion of FTX, Sam Bankman-Fried will have to answer for his actions.