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AI the Solution to Ethereum's 'Biggest Technical Risk'
Vitalik Buterin believes AI auditing could help solve Ethereum's issues with deep-seated code bugs.
Danielle du Toit
February 19, 2024
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Here's what we've got for you today:
Vitalik Buterin Envisions AI as a Solution to Ethereum’s Code Bugs
Coinbase Commerce Ends Support for Bitcoin and UTXO Cryptos
Apple App Store’s Security Breached by Fake Rabby Wallet Scam
Grayscale’s Spot Bitcoin ETF GBTC Outflows Hit $7B
Vitalik Buterin recently highlighted how artificial intelligence could tackle a major issue for the Ethereum network: deep-seated code bugs.
Vitalik Buterin, in a Feb. 18 X post, endorsed AI auditing as a solution for the "biggest technical risk" to Ethereum: deep code bugs.
His comments come at an important time as Ethereum nears the Dencun upgrade launch, scheduled for Mar. 13.
Despite Buterin's positive outlook, some community members are still a bit skeptical about AI's effectiveness in identifying code vulnerabilities in Ethereum.
Coinbase has declared that it will no longer support Bitcoin and other UTXO cryptos on its merchant platform.
Coinbase discontinued support for Bitcoin and other UTXO-based cryptos on its merchant payment platform due to integration challenges with new payment protocols, according to Lauren Dowling.
CEO Brian Armstrong assures that Bitcoin payments can still be made through Coinbase accounts and even hinted at possible future integration of the Lightning Network to improve commerce payments.
The decision led to backlash from the crypto community, raising concerns about its effects on Bitcoin's adoption and the restriction of options for merchants and consumers.
A misleading app called "Rabby Wallet & Crypto Solution" on the Apple App Store led to major financial losses for its users.
The fraudulent app remained on the App Store for at least four days, with user reports of its scam nature being ignored; the genuine Rabby Wallet team has clarified that their official app is still pending App Store approval.
Victims have reported big financial losses due to the scam, including one user reporting a 10% loss of their crypto portfolio.
The incident has caused widespread shock and anger in the crypto community, with many pointing out concerns about the security of the Apple Ecosystem.
January experienced the highest amount of outflows, with $5.64 billion being pulled from GBTC by the month's end.
Nate Geraci, the co-founder of ETF Institute, shared on X that since Grayscale's GBTC converted to a spot Bitcoin ETF, it has seen a total fund outflow of $7 billion.
Despite this, the rate of asset outflows has decreased some, suggesting that the situation may be stabilizing according to Geraci.
However, the potential for further outflows still exists after a judicial order allowing bankrupt crypto lender Genesis to liquidate some of its Grayscale investments.
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