Ripple XRP Ledger Testnet Down, Crypto Exchange Hits $3 Million Theft, Petrodollar Deal, Private NFT

Ripple XRP Ledger Testnet Down, Crypto Exchange Hits $3 Million Theft, Petrodollar Deal, Private NFT

hey hey everybody it’s Eddie from Tokyo this is your cryptocurrency update from Japan and at this hour at the time of recording just about 1 p.m. in Tokyo as the West wakes up the market is mostly positive with Bitcoin over 1 and a half% on the 24 hours but seriously with the SEC making their announcement that they’re closing the investigation on ethereum and ethereum is only 1.44% up wow I just can’t believe it and then you’ve got the meme coins flaky up 10% Pepe up nearly 6% so little impact on the price of ethereum the space just doesn’t make sense sometimes fetch Ai and Singularity net are the lead gainers in the top 100 by market cap they’re up 24 and 22% respectively fetch AI catching the Tailwinds boot I think on Nvidia who flipped Microsoft as the world’s most valuable company it’s most likely why it’s doing so well and render too has seen a 30% gain over the past months so AI continues to be really favored by investors so are you following the Kraken hack we’re going to cover that and yes more proof that there was no signed agreement to sell Saudi oil oil only in Us dolls also Ripple test net servers went down today and what is the first project in Japan to get a ripple Grant you’ll want to know about this because Japan and Korea are the two countries that are getting a lot of Firepower all right everybody let’s [Music] go there is some real serious drama going on with a certic audit on Kraken in this audit uh Kraken exchange failed big time in their deposit system and the risk controls were alarmingly bad and yes they were compromised now they were compromised first by cerk and cerk has gone public with their findings certic disclosed all their testing deposit transactions but millions of dollars of crypto were minted out of thin air so no real Kraken assets were directly involved but from the time the vulnerability was discovered by certic to the time Kraken was notified there was additional crypto stolen so their defense system failed and those continuous large withdrawals occurred the crypto that uh Kraken says is owed back to them does not match what certic says is owed to them certic returns 734 eth 29,000 us and 1,21 XMR but uh it’s not what Kraken says is owed because they have more missing so I’m unsure how this is going to be resolved because some of that missing crypto ended up going into mixers and when that happens it’s nearly impossible to trace and find out where it went um I don’t think this drama is going to end anytime soon I did it yesterday I minted and redeemed my f test xrp for the F assets boom and bang xrp yeah the live mint demo very easy to do but I have to tell you I did mess up from the start I forgot to toggle over to the dev mode before I connected my bifrost wallet so thanks to Moon ER I got straightened away and was able to complete that process and I minted more of those test xrps today so I’m going to continue to participate in this live demo because it will be attached to a retroactive airdrop and yeah I’m going to participate as much as I can to qualify for as much of the airdrop is possible there was a little bit of a snafu for a few hours the xrp Ledger test net nodes went down they’re operated by Ripple but they did get it fixed in a few hours so it didn’t set back too many people and uh yeah a little bit surprising though Hugo’s comment was interesting the situation where a source Network stops producing blocks for a lengthy period of time a little less than 12 hours occurs with vanishingly small probability so what he’s saying here is it’s very rare this was going to happen with the xrpl test net going down overnight we got to test how the F asset protocol would handle this all indications are that the F assets passed with flying colors yep connect everything and we a wind of xrpl labs chimed in and said well I guess we know where the xrpl test net was running and he posted a picture of his two kids that were decommissioning this is actually in one of the oldest nodes that was running pathf finding on the xrpl for six years it ran but it finally had some dis failure and every penny counts was going parts were going to the refurbish department and David uh Schwarz said I cannot condone child labor no matter how adorable and WEA replied to him I’ve been told that they need a lot of fiber so I thought it was good for them with a question mark oh this space funny sense of humor and something that I have my eye on is Ripple is launching a new focus with money to accelerate Japan and Korea I think this should be on everybody’s want to see more list this dedicated fund is going to bring two events hosted by Ripple one in seou and one in Tokyo in early September the first Japan company to receive funding from a grant is vwb and it’s an nft that has embedded data that only the owner can see the conventional nft everyone can see but with a vwb nft only the owner can see it so imagine you share video or music only the owner of that nft can see it it’s it really is a way to not only secure privacy but to control your intellectual property right now it’s supported by ethereum and polygon but will also be supported by The xrp Ledger I can think of so many privacy use cases in yesterday’s video the source that I used from the UBS site which I have more sources but I happen to use this source to show that the news surrounding a so-called agreement about the Petro dollar uh had expired and I tried to really explain to everyone that that was fake news because there had there was no agreement and people just continued to argue that I was wrong well let me okay take this opportunity to show you that truly really there was no signed agreement I tried to use also in addition to the UBS article this market watch article but no nobody was having this as a qualified source so I pointed to this article from Ledger insights about fake news Saudi Petra dollar deal in the US ended this month but no people didn’t want to take this article either that’s okay so let’s see would the India Today article surfice no it didn’t surfice either was the highly acclaim cled book called oil money by David White acceptable in the scholarly writings that followed after his book no that wasn’t good enough would it be the June 9th 1974 article written in the New York Times no because it didn’t refer to anything about price in Us doll would it be the article from 2016 where Nixon cut a deal with Saudis in 1974 that undergirded the relations for four decades when it was revealed through a Freedom of Information Act well maybe now we’re getting close the specific 1974 agreement between the US and Saudi Arabia on the Petro dollar system is not available as a single formal public document it was more of a series of understandings and informal agreements rather than a formally documented treaty the details of these agreements were kept confidential and only surfaced through investigative Bloomberg journalism and a Freedom of Information Act in foa requests closest thing to the Petro dollar deal was a secret agreement between the US and Saudi Arabia that was reached in that late 1974 which promised military aid and equipment in exchange for the kingdoms investing billions of dollars of its oil sales proceeds in us treasuries and again this was kept confidential until 2016 so since there was never a signed agreement it’s very difficult to break or expire an agreement that never existed in a formal fashion and it was never about being priced in US Dollars it was about an agreement of buying the US treasuries hopefully this helps bring some clarity to the issue I hope to see a lot of people come to the event in Tokyo in September and you too can pick up some new stickers all right everybody do take care sayara for now byebye

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