U.Today – Weekend News Summary

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

In a recent X post, Cardano founder Charles Hoskinson addressed the ADA community, challenging its members to hack a Lace Paper Wallet, a security feature of Cardano’s Web3 wallet Lace. At the Rare Evo 2024 event, Hoskinson announced a $1 million USDM bounty for anyone who can successfully hack and gain control of the Lace Paper Wallet. “If you can hack it; you can keep it! 1 million dollars!” reads Hoskinson’s post. The Paper Wallet feature allows users with existing PGP keys to back up their wallet with a single encrypted QR code. The Lace Paper Wallet Bug Bounty Program will remain open until the end of 2024 or until someone hacks it.

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

Nate Geraci, president of ETFStore, highlighted the success of the BlackRock iShares Bitcoin Trust (IBIT) this year. Since its launch in January 2024, the IBIT has had only one day of outflow, recording $20.5 billion in inflows. Geraci referred to IBIT as the “top launch of 2024,” while ironically observing, “This is exactly what ‘no demand’ looks like.” Last week, he noted that BlackRock’s IBIT, Fidelity’s FBTC, Ark Invest’s ARKB, and Bitwise’s BITB are the four top spot Bitcoin ETFs launched in 2024.

“Rich Dad Poor Dad” author Kiyosaki warns to move your money to Bitcoin

Robert Kiyosaki, author of “Rich Dad Poor Dad,” continues to advocate for Bitcoin as a vital part of a diversified investment strategy. In his Aug. 18 X post, Kiyosaki emphasized the importance of investing outside the traditional financial system to prepare for economic uncertainty. He discussed two types of “panics” — capital market panics and bank panics. According to Kiyosaki, banking crashes can occur without public awareness, only somewhat mitigated by FDIC insurance covering deposits up to $250,000. He questions the reliability of this insurance and urges people to consider alternatives like gold, silver, and Bitcoin.

This article was originally published on U.Today