Top Five Stories of the Week
Sen. Lummis introduces Bitcoin Strategic Reserve bill in Senate
On July 31, Senator Cynthia Lummis officially introduced the Bitcoin Strategic Reserve bill, which would direct the United States government to start a reserve fund for the scarce decentralized asset. More specifically, the bill would establish a “decentralized network of secure Bitcoin vaults” under the control of the United States Treasury.
The bill also directs lawmakers and bureaucrats to enact strict cybersecurity parameters and other physical security measures to ensure that Bitcoin funds are not stolen. Additionally, the bill laid out a goal of accumulating 1 million Bitcoin over time, or roughly 5% of Bitcoin’s total supply, using existing U.S. Treasury funds to acquire the Bitcoin in amounts that mirror the U.S. Treasury’s gold allocation.
Lummis’ bill also reaffirmed the right to self-custody in the United States. It seeks to protect this right, which has come under fire from certain U.S. lawmakers.
Bitfinex hacker Heather Morgan spotted at Bitcoin Conference 2024
Heather Morgan — a self-styled social engineer and flamboyant rapper also known by her alter ego “Razzlekhan” — made headlines after being arrested for and subsequently pleading guilty to one of the most audacious cyber heists in history: the 2016 Bitfinex hack resulting in the theft of 120,000 Bitcoin, worth $4.5 billion at the time of her arrest.
Contrary to popular belief that she was behind bars, Morgan reportedly appeared at the Bitcoin 2024 conference in Nashville, sparking curiosity and controversy among attendees.
When Morgan pleaded guilty on Aug. 3, 2023, she knew she could face up to five years in prison and receive a fine of $250,000. Since then, she’s been awaiting sentencing, scheduled for Nov. 8, 2024.
Jameson Lopp, a Bitcoin developer and co-founder of Bitcoin custody firm Casa, found her presence…
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