Criticism – DIGIT INFO

Ethereum Foundation Defends $96.9M Transfer Amidst Criticism

DIGIT — Sun, 25 Aug 2024 22:30:24 +0000

On Aug. 23, 2024, the Ethereum Foundation made a significant transaction by transferring 35,000 ETH, valued at approximately $96.9 million based on current ether rates. The transaction sparked some criticism from the crypto community, with a few voices raising concerns about the foundation’s transparency. However, the foundation’s executive director quickly clarified that the transfer was […]

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Toys ‘R’ Us AI-generated ad torn apart by critics

DIGIT — Thu, 27 Jun 2024 05:35:09 +0000

The AI-generated ad whipped up backlash from viewers who described it as a “weird dream” and “baffling.”

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Stop the Presses: Criticism Against the New York Times Mounts as Newspaper Is Accused of Killing 59 Million Trees Annually

DIGIT — Thu, 20 Apr 2023 04:30:13 +0000

After the New York Times (NYT) published an editorial about bitcoin mining, claiming the industry is harmful to the environment, an organization called Stop the Presses took issue with the Times’ paper usage. Stop the Presses launched a social media campaign against the NYT’s newspaper production. The organization’s website, nytimesup.org, alleges that the company “kills […]

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‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network

DIGIT — Sun, 09 Apr 2023 14:35:03 +0000

The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward eliminating any form of payment, including […]

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Reports Claim Chivo Bitcoin Wallet Is Flagging Wasabi Transactions in El Salvador

DIGIT — Fri, 07 Apr 2023 21:00:15 +0000

According to several reports, the Salvadoran government-issued bitcoin wallet, Chivo, has been freezing wallets and requesting that owners verify the source of funds. The founder of El Zonte’s Bitcoin Beach stated that the government’s bitcoin wallet software is flagging and freezing wallets that receive transactions from Wasabi, a non-custodial bitcoin wallet that utilizes Coinjoin technology […]

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Bitcoin Stamps Emerge as New Image-Storage Trend on the Bitcoin Blockchain, Over 8,000 Stamps Minted So Far

DIGIT — Wed, 05 Apr 2023 19:30:26 +0000

After the Ordinal inscription process gained significant traction on the Bitcoin blockchain with more than 800,000 inscriptions to date, a new trend of non-fungible token (NFT) technology has emerged called Bitcoin Stamps. The image-storing technique is a new way of storing images on Bitcoin, and so far, more than 8,000 stamps have been minted. From […]

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US Central Bank’s Fednow Payment Service to Launch in July, Economist Calls Timing ‘Suspicious’

DIGIT — Wed, 22 Mar 2023 20:50:00 +0000

According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is urging American financial institutions to make preparations to join the central bank’s new payment service. Economist Richard Werner, […]

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US Accounting Watchdog Issues Warning on Crypto Proof-of-Reserve Audits: Investors Urged to Exercise Caution

DIGIT — Thu, 09 Mar 2023 21:30:32 +0000

According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR audits. PCAOB Calls for Investor Caution and Due Diligence When Using Proof-of-Reserve Reports The U.S. accounting watchdog recently issued an […]

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Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’

DIGIT — Thu, 09 Mar 2023 17:30:19 +0000

After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However, some critics are dismissing Warren’s opinion as “terribly misinformed” and claim that she is “tossing out egregious accusations.” Crypto Proponents Offer Different Perspectives on Silvergate […]

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Solana Faces Renewed Criticism After 10th Downtime and Bumpy Restart, but Developers Remain Optimistic

DIGIT — Tue, 28 Feb 2023 15:30:37 +0000

Following the initial incident on Feb. 25, Solana resolved the blockchain’s performance degradation after validators decided to restart the network. According to an outage report following more than 24 hours of downtime, Solana developers detailed that the “root cause is still unknown and under active investigation.” Social Media Mocks Solana’s 10th Downtime, Supporters Defend Project […]

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