Blockstream’s Adam Back said BIP-110 could be used to freeze user funds, but the proposal’s creator argues there are safeguards in place to prevent it.Blockstream CEO Adam Back has opposed a proposal aimed at reducing Ordinals-like “spam” on Bitcoin, warning that the fix could do more harm than good to the network’s credibility.Bitcoin Improvement Proposal (BIP-110) was proposed by pseudonymous Bitcoin developer Dathon Ohm in December. Nearly 7.5% of Bitcoin nodes — all of which are Bitcoin Knots clients — have signaled readiness for BIP-110, according to data.The proposal seeks to temporarily shrink how much data can be stored in Bitcoin transactions to reduce the amount of images, videos, audios and other “data abuse” flooding the network.Read moreRead More

Transparency, which is a hallmark feature of most cryptocurrencies, is likely one of the biggest hurdles to mass adoption, the Binance founder said.The lack of privacy for onchain transactions is one of the biggest hurdles to the mass adoption of cryptocurrencies for payments and a medium of exchange, according to Changpeng Zhao, co-founder of the Binance cryptocurrency exchange.The executive commonly known as “CZ” said the lack of privacy prevents businesses and institutions from paying expenses in crypto. He gave this example: In a previous conversation with investor and host of the All-In Podcast Chamath Palihapitiya, CZ also cited physical security concerns as a reason why onchain transparency is a risk to users. The comments follow a revival of privacy and the cypherpunk ethos in crypto. Read moreRead More

The asset manager overseeing more than $900 billion assets may buy up to 90 million MORPHO tokens as part of a partnership to support DeFi credit market, it said.Read More

Several leaders in Hong Kong announced efforts to advance the region’s regulatory environment.Read More