35 Burst results for "Tornado Tornado"
DIVORCING PATRIARCHY
Meet Fannie Lou Hamer: Sharecropper Turned Activist
"There's another Fanny that I want to introduce you to. Her name is Miss Fanny Lou Hamer. I don't know about you, but I've been to the Mississippi Delta once. Mea culpa for the cliche, but I did meet some of the kindest strangers I've ever met there. If you're molded from the city suburbs like I am, the Delta will shock your sensibilities. 200 miles long, 87 miles across at its widest point and encompassing approximately 4 ,415 ,000 as you stand you are no more special than an average stock of corn. The flatland, strong enough to tango with tornadoes, will effortlessly swallow you up if you dare it to. Yet the bodies of African -American children, men, and women were forced to stretch across the Delta to domesticate the land for the profit and riches of the patriarchy. First through human exploitation of slavery and then through the economically exploitative system of sharecropping. Now sharecropping has and is practiced globally in Africa, Asia, Europe, and North America. In the United States after the Civil War sharecropping seceded slavery as a system of agricultural labor where landlords would contract with tenant farmers to lease a portion of land in exchange for a value of the crops. Under this system the tenant farmer would work the land and receive a share of the value of the crop less charges for seed, tools, tenancy, and food. The system was rife with price manipulations which indebted many sharecropper tenants from harvest to harvest. These landlords were largely the same individuals who just months and years before were the slave holders of the now tenants who were just months and years before slaves. After plantation owners were forced to sever their stronghold of human exploitation through the Civil War. It's not a difficult logic leap to understand that the new system with the same old players in the same old place wasn't going to produce a different outcome other than human exploitation. The sharecroppers were living under poor working conditions that kept them in a poverty trap. It was a rigged system but what other choice existed in the South following the Civil War? To live, to eat. Where was a Black person supposed to go? How were they supposed to survive? As compelling testimony to how life can force the hand of change in the inertia of oppression. A once child laborer on a sharecropping plantation in the Delta at the tender age of 45 became a catalyst to end the sharecropping industry's 62 -year reign. Her name was Fannie Lou Hamer. She was a force for social change. All she wanted was freedom. All she wanted was to be a first -class citizen amongst equal citizenry. The best place to begin to know Ms. Fannie might be at the crescendo of her life following an 18 -year period of sharecropping on a cotton plantation near Ruleville, Mississippi. In this season of her life she built a serious career as a voting rights, women's rights, civil rights activist, and community organizer during the violent era of Jim Crow which were racial segregation laws and formal and informal policies. Everyday life for Blacks in Mississippi was a sentence and perpetuity of embodied hardship and then the most extraordinary thing happened. The intention of disruption from community organizers introduced Ms. Fannie to the promise of change through democratic participation of voting. She said, they talked about how it was our right as human beings to register and vote. I never knew we could vote before. Nobody ever told us. We hadn't heard anything about registering to vote because when you see this flat land in here when the people would get out of the fields if they had a radio they'd be too tired to play it so we didn't know what was going on in the rest of the state even much less in other places.
WTOP
"tornado tornado" Discussed on WTOP
"With APWU health plan visit APWUHP com click on open season and get more I'm Brian Albin WTOP traffic we'll go to Veronica Johnson she is first alert chief meteorologist expect rain from tropical storm Ophelia to move in throughout the overnight period rain all day tomorrow and some high winds we could be looking at 1 to 3 inches of rainfall around the area by late Saturday and there could be some isolated inland flooding along with some coastal flooding and our winds could be gusting 30 40 miles per hour much higher near the coast and Maryland's eastern shore let's temperatures talk will drop to the 50s by early Saturday morning and temperatures tomorrow afternoon will be in the sixties I'm seven news chief meteorologist Veronica Johnson in the first alert weather center keeping a close eye on this radar tonight the heavy rain remains south and east of DC and mostly south and east of the beltway so southern Maryland southern parts of Prince George's County and a few parts of Prince William and Stafford County getting rain much of the rest of the area west and north of DC still waiting to start getting those showers Tysons is at 68 we could be down to 55 overnight this is wtop news everything you need every time you the listen WTOP producer's desk is wired by IBEW local 26 where contractors come to grow good evening I'm Dimitri top stories were following for you tonight we're talking about lousy weather around here not so much right now although we're starting to get the rain and wind but at least the first half of the weekend could be quite bad tropical storm Ophelia is churning up the east coast bringing wind and rain to the area starting late tonight according to the new update from the National Hurricane Center storms maximum winds are at seventy miles per hour and it's ninety miles southeast of Cape Fear North Carolina 7 News first alert meteorologist Steve Rudin tells us a tropical storm warning is in effect for Calvert and Saint Mary's counties in southern Maryland we're going to see moderate to heavy rain later tonight especially during the day tomorrow but the strongest of the storms will likely arrive across the metro area for that matter the DMV moving into tomorrow afternoon evening at that point we can't rule out a chance for an isolated tornado tornado or two around Fredericksburg the northern neck and southern Maryland how is Alexandria getting ready for high water flooding flooding can happen at any moment especially for those who live close to the emergency management coordinator with the city of Alexandria we do have some areas some hot spots we call them especially old town area that is prone to flooding and she says city crews have been going out to those areas clearing clearing away debris and making sure the drainage systems are not clogged with anything. National Weather Service is anticipating our error to receive about two to four inches of rain plus gusty windy conditions she encourages people to stay off the roads during the worst of the storm in Alexandria Nick Ineli UTOP News Virginia and Maryland's governors have declared a state of emergency ahead of the storm in the Old Dominion Glenn Youngkin says response teams and supplies will be ready to go if and when local communities need help Maryland Governor Wes Moore says he's asking everyone to stay vigilant keep tuned to local news
Coronavirus
A highlight from Truffle Suite Winds Down Operations
"Welcome to your Ethereum news roundup, here's your latest for Thursday September 21st, 2023. Truffle Suite winds down operations, Matter Labs introduces a zk -sync fellowship program, Caldera introduces ecosystem integrations, and Rainbow releases its browser extension wallet for all users. All this and more starts right now. The Arbitrum Gitcoin Grants round is now live, if you'd like to support this podcast, please consider contributing by visiting ethdaily .io forward slash gitcoin. Truffle Suite, a provider of developer tools for Ethereum, announced that it is closing down operations. The project published guides for transitioning to hard -hat tools. Truffle Suite will maintain its infrastructure for the next 90 days to allow developers to transition smoothly. Over the past six years, Truffle Suite has delivered essential tooling, including a development environment, a forking testnet framework, and an asset pipeline designed for EVM chains. The project was acquired by ConsenSys in 2020. Truffle Suite says its legacy will live on through other ConsenSys products. Matter Labs announced the ZK Fellowship, a 46 -month virtual fellowship program for users interested in advancing the protocol. Individuals and teams with technical backgrounds, including students, developers, research, and academics, are encouraged to apply. Application submissions are open until October 15th. The ZK Fellowship is a paid program that offers eligible participants with stipends of $3 ,500 per month and access to senior Matter Labs team members, core developers, and potential post -fellowship opportunities. Research and development topics range from cross -layer -2 gas fee mechanisms to MEV and privacy primitives for rollups. Rollups as a service provider Caldera formally introduced its ecosystem of 19 available integrations for building custom Arbitrum orbits and OP stack rollups. The list of integration partners includes Layer Zero for bridging, Espresso Systems for sequencing, Byconomy for account abstraction, and Celestia for data availability, among others. Caldera specializes in designing high -performance, application -specific layer -2 networks coined as Caldera Chains. The custom chains offer high throughput, low latency, and customization options. Caldera is also a no -code platform and features single -click rollup deployments. And lastly, Rainbow released its browser extension wallet for all users. The wallet can now be installed on Chrome, Arc, Edge, and Brave browsers. The wallet's unique feature is a Web3 search and command bar called the Magic Menu. The tool features keyboard shortcuts for switching wallets, swapping, and sending tokens. In other news, Uniswap introduces courses through Uniswap University, Metafactory releases a tornado cache supporter t -shirt or braces $2 .3 million, and Nethermind releases version 1 .2 .0 .4 of its client for the Holsky testnet. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
Ethereum Daily
A highlight from Truffle Suite Winds Down Operations
"Welcome to your Ethereum news roundup, here's your latest for Thursday September 21st, 2023. Truffle Suite winds down operations, Matter Labs introduces a zk -sync fellowship program, Caldera introduces ecosystem integrations, and Rainbow releases its browser extension wallet for all users. All this and more starts right now. The Arbitrum Gitcoin Grants round is now live, if you'd like to support this podcast, please consider contributing by visiting ethdaily .io forward slash gitcoin. Truffle Suite, a provider of developer tools for Ethereum, announced that it is closing down operations. The project published guides for transitioning to hard -hat tools. Truffle Suite will maintain its infrastructure for the next 90 days to allow developers to transition smoothly. Over the past six years, Truffle Suite has delivered essential tooling, including a development environment, a forking testnet framework, and an asset pipeline designed for EVM chains. The project was acquired by ConsenSys in 2020. Truffle Suite says its legacy will live on through other ConsenSys products. Matter Labs announced the ZK Fellowship, a 46 -month virtual fellowship program for users interested in advancing the protocol. Individuals and teams with technical backgrounds, including students, developers, research, and academics, are encouraged to apply. Application submissions are open until October 15th. The ZK Fellowship is a paid program that offers eligible participants with stipends of $3 ,500 per month and access to senior Matter Labs team members, core developers, and potential post -fellowship opportunities. Research and development topics range from cross -layer -2 gas fee mechanisms to MEV and privacy primitives for rollups. Rollups as a service provider Caldera formally introduced its ecosystem of 19 available integrations for building custom Arbitrum orbits and OP stack rollups. The list of integration partners includes Layer Zero for bridging, Espresso Systems for sequencing, Byconomy for account abstraction, and Celestia for data availability, among others. Caldera specializes in designing high -performance, application -specific layer -2 networks coined as Caldera Chains. The custom chains offer high throughput, low latency, and customization options. Caldera is also a no -code platform and features single -click rollup deployments. And lastly, Rainbow released its browser extension wallet for all users. The wallet can now be installed on Chrome, Arc, Edge, and Brave browsers. The wallet's unique feature is a Web3 search and command bar called the Magic Menu. The tool features keyboard shortcuts for switching wallets, swapping, and sending tokens. In other news, Uniswap introduces courses through Uniswap University, Metafactory releases a tornado cache supporter t -shirt or braces $2 .3 million, and Nethermind releases version 1 .2 .0 .4 of its client for the Holsky testnet. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
Mike Gallagher Podcast
A highlight from Week in Review - Episode 24
"Cycling isn't just cycling. It can be cycling or cycling or even cycling. Peloton isn't just one thing. We have classes that will ease you in and classes that will make you sweat and a range of instructors so you can find your match. Whatever you're in the mood for, we can get you in the zone. See for yourself with a worry free 30 day home trial. Visit one Peloton dot com slash home dash trial terms apply. Welcome to the Mike Gallagher Show Week in Review podcast. It's just about everything that's happened this week. I'm Eric Hanson, and we begin with President Trump, who made some controversial statements about abortion this week and called Ron DeSantis's six week abortion ban a terrible mistake. We might as well get this out of the way. We got President Trump with an answer to Kristen Welker on NBC's Meet the Press and her debut as the new host, which gave a lot of ammunition to Trump haters who want to hurt him and try to wreck his chances of becoming the nominee in 2024. This is an interesting dilemma that Republicans have. Here's the dilemma. Pro -life fighting for the sanctity of those unborn babies, the sanctity of their lives, the sacredness of the innocent. That's a centerpiece that's foundational for the Republican Party. And whether we like it or not, this particular debate that we're having in America over abortion is crushing us at the ballot box. And Donald Trump, I believe, was trying to address that with Kristen Welker on Meet the Press. Let's get it out of the way. I've been dreading this all weekend. Well, it wasn't all weekend. I mean, this first broke, I think, Saturday. They gave a little preview of his answer. I don't love his answer, but I also don't love the way Trump critics are pouncing on him, claiming he's not pro -life. I got into a big knockdown drag out, as I expected I would with my friend Mark Davis in Dallas, because Mark is now hell bent on proclaiming that Donald Trump is not pro -life. And he's saying that because of this exchange with Kristen Welker yesterday on Meet the Press. If a federal ban landed on your desk, if you were re -elected, would you sign it at 15 weeks? Are you talking about a complete ban? A ban at 15 weeks? Well, people are starting to think of 15 weeks. That seems to be a number that people are talking about right now. Would you sign that? I would I would sit down with both sides and I negotiate something and we'll end up with peace on that issue for the first time in 52 years. I'm not going to say I would or I wouldn't. I mean, the sanctus would really design a five week and six week ban. Would you support that? I think what he did is a terrible thing and a terrible mistake. But we'll come up with a number. But at the same time, Democrats won't be able to go out in six months, seven months, eight months and allow an abortion. Now, there are people who took that answer and proclaimed that Donald Trump is not pro -life, like it's important to proclaim or make some kind of declaration that he is not pro -life. I believe it's ridiculous to claim that a guy who's the only president to ever attend the March for Life, the guy who promised to get Roe v. Wade overturned because that was terrible federal. That was a terrible federal ruling and appointed Supreme Court justices who did just that to claim that Donald Trump is not pro -life is preposterous. It's absurd. It's virtue signaling. And perhaps it's just. The opportunistic way you chalk up some points for Ron DeSantis, because clearly Team DeSantis is pouncing on Donald Trump over this remark. I believe two things can be true at the same time. You can be pro -life and you can acknowledge that this issue is killing us at the ballot box. And we're losing elections. So President Trump has some campaign trouble to manage. Meanwhile, our current president can barely navigate a simple speech. If you miss Joe Biden at the U .N. this week, well, buckle up. Remember when Trump went to the United Nations and gave a really good speech and the media freaked out and said how goofy and wild and unpresidential and unprecedented it was, they had a complete meltdown and he gave a really decent speech. Compare that to the appearance of Joe Biden yesterday at the U .N. Now, even as we have all our institutions and drive creative new partnerships. Let me be clear. Certain principles of our international system are sacrosanct. Both Biden and Kamala Harris do the same thing when they say, let me be clear, run for the hills, because when they say, let me be clear, you're going to see nothing but mud and gibberish. I mean, babbling incoherently in front of the United Nations. And if that wasn't wild enough, you've got the Ukrainian President Zelensky. He marches in with his entourage. You know, I used to say I was torn about Ukraine. People that I respect insist that we have got to continue to fund the Ukrainian battle with Russia, that the American people have to help Ukraine with its border. We dare not have a wall for our own border, but we better, by God, help Ukraine with theirs. We better fund them. We better give them the missiles they want. We got to give them the ammunition they need. We need to. We got to stop Vladimir Putin. And if you push back against that, you're a stooge for Vladimir Putin. You're a Putin puppet. Just ask Tucker Carlson. When Tucker dared to express the belief that the American people have bigger fish to fry than funding Ukraine, he was thoroughly denounced and renounced as a stooge of Vladimir Putin. So there goes Zelensky marching into the UN yesterday with his bodyguards and his entourage, and he gets up to that podium. And what he said was pretty stunning. I expected he would stand at that giant podium in front of that ugly green background at the UN and talk about the need to fund his military. Talk about Russia's aggression against the Ukrainian people. Talk about Ukraine's place in the whole worldview of things instead. We got this. Even though humanity is failing on its climate policy objectives, this means that extreme weather will still impact the normal global life and some evil state will also weaponize its outcomes. And then people in the streets of New York and other cities of the world went out on climate protest. We all have seen them and when people in Morocco and Libya and other countries die as a result of natural disasters and when islands and countries disappear underwater and when tornadoes and deserts are spreading into into new territories and when all of this is happening, one unnatural disaster in Moscow decided to launch a big war and killed the tens of thousands of people. No wonder loony leftists have the Ukrainian flag in their front yard. You would think the Ukrainian president had bigger problems than climate change. Meanwhile, the United Auto Workers hit the picket lines this week. They made a few modest demands like a 40 % pay raise in a four day work week. Speaking of the UAW strike, I watched Sean Fain, the president of the United Auto Workers Union on the Sunday morning news shows. And you know, I admit I'm not a real big fan of unions. In fact, quite the opposite. I kind of think that unions have helped destroy many aspects of our economic system. In fact, it's a commonly held view that pension plans that used to be in place contributed to the decline of the U S automakers. Well, now the UAW is demanding pensions come back. They want the old fashioned defined benefit plan. And as Bloomberg points out, pensions are not worth striking over. You know what I find interesting about the UAW dispute? I heard all the talking points about how the corporate executives at the big three automakers make too much money. That's a Bernie Sanders mantra. That's an Elizabeth Warren trope. The executives make too much. You know, a company can be producing billions of dollars of revenue, but the Bernie Sanders of the world want to cap what an executive at one of those companies earns, which I always find so fascinating. It's as if they want to equate the guy or gal on the assembly line with the big automakers. Well, they're not the same. I mean it'd be nice if everybody made the same amount of money in life hate to break it to your life doesn't work that way. Some people make more than others and admittedly a lot of it is luck. I don't deserve the living that I make, but I'm very blessed to make a good living. There are people make a lot more than I do and I don't begrudge them anything, but simply because somebody that might have a show on television might make 10 times what I make. I don't think I should make what they make simply because we do the same essentially same thing. I mean, and Democrats always have such hypocrisy on this issue. Like somebody just texted me, how many homes does Bernie Sanders have again? It's more than one. But here's something that I noticed when I heard Sean Fain, the president of the UAW talk about executives compensation and how we're not making enough and we're taking steps backwards. I mean, the fact of the matter is the union gave up the defined benefit pension plan in a previous negotiation. Now they want it back. When you give up a benefit like that, you're not going to get it back. That's not realistic. And here's what I'm interested in. You know what was missing from all the coverage of the UAW strike? They never talk about what auto make auto workers make. Now I kept hearing how somebody on the assembly line can't feed their family. Really? What do they make? I kept hearing that Sean Fain kept saying the auto workers have taken three steps backwards. Really? How much do they earn? I know what they want to make. They want a 40 % pay increase and they want to only work four days a week. Now that's a pretty good deal.
The Bitboy Crypto Podcast
A highlight from Vitalik Was Hacked! (Beware Of The FOMO!)
"Snapped in, hit that button, they signed in, and they connected their wallet, and next thing you know, they got drained from this Vitalik hack. Some people weren't patient, and they saw Vitalik tweet out a link, and they impatiently just snapped in, hit that button, they signed in, they connected their wallet, the next thing you know, they got drained from this Vitalik hack, everybody. But, it wasn't his wallet that got hacked. It wasn't his bank account that got hacked. But his ex -account did get hacked, everybody. Ethereum co -creator Vitalik Buterin's ex -account reportedly breached. Hacker makes away with $690k. Do they stop there on purpose? Almost $700k, folks. You can see he was leading to a left of $690k. As per Decrypt, the breach happened on Saturday. A post surfaced on his feed promoting NFTs from a software provider, ConsenSys, which turned out to be a scam link displayed to his almost 5 million followers and asked victims to connect their wallets to mint the NFT. Instead, the hacker gained access to the funds. I believe a couple punks got stolen, so most of what got stolen was NFTs, folks. So just got to be careful out there. Maybe people don't have a whole bunch of ETH on a wallet, but they have some NFTs, and so they're out there. They're just clicking things. They're linking things, and it didn't end up going well for those people. So you got to be careful clicking links out there, folks. I think it was a little bit of a FOMO. If I'm guessing what, if you see an hour -long post or, you know, and maybe, but when you see it's, you know, you refresh by following, and it's a 14 -second link, you might go ahead and click that because, oh, you know, only 5 ,000. Maybe they go get claimed. You go on Etherscan. You see 17 people did it in the last two seconds. You're just going to FOMO in. You got to be careful out there. It happens. It does happen. It happens. I don't think that includes the values of the stolen punks. I thought it did. I'm not sure. We'll look more into that as this story has time to digest everybody. Just here to talk about, okay, Tim. Tim and the investing bros are out there, 9 to 10 AM, everybody. You can check that out. All right. Ethereum creator Vitalik, co -authors paper detailing method for weeding out dishonest crypto users. Here you see an Ethereum coin floating in an aquarium for some reason. Him and four additional authors detail how privacy pools can be useful in weeding out unscrupulous crypto traders. Oh, that's a pool. That's not a pool I would want to go into. Give me a bunch of chlorine. Give me some salt. I don't want critters and plants growing in there. In a lengthy thread, one of the co -authors, Amin Soleimani of Privacy Pools, further explains how the protocol works and how it can help issues experienced by users of sanctioned Mixer tornado cache, which is deemed a national security threat in 2022 and banned in the US. With Privacy Pools, users can publish zero -knowledge proofs that their withdrawal originated from an association set that excludes known illicit deposits. In theory, this allows users to prove regulatory compliance and still maintain privacy while using public blockchains. Paper concludes the privacy regulation may be compatible despite generally being perceived as contradictory. I have one issue with this. I guess you could put it as some sort of thing where an association set that excludes. But what's stopping someone from getting four ETH that is from stolen funds from the Lazarus group and then dusting everybody and dusting 10 ,000 wallets with the stolen ETH? Would you then, you know, render those wallets obsolete? Or what if it scaled up? And what if a million people did it a million times a day, what would that look like? So I don't know what that's going to look like. So we have this awesomely photoshopped picture right there. I think that was taken January. Anyways, SEC files appeal against Ripple as legal battle intensifies, levels allegations against Ripple, accusing the company of stalling resolution to preserve unregulated sales. SEC is urging the court to speed up the proceedings. Gary is saying, you need to get a green light, let's go. SEC makes a compelling case for streamlining the proceedings, emphasizing the imperative and efficient resolution. Meanwhile, Ripple stands firmly in opposition, invoking questions of law and strategy, saying, hey, guys, we need time to plan for our appeal here, while the SEC is steadfast in its resolve to scrutinize both, I think it's supposed to be programmatic sales, not pragmatic. Pragmatic just means that makes sense to do it. XRP fanatics would say it's always pragmatic to buy XRP. I think it's supposed to be programmatic here. Programmatic sales and other XRP exchanges for goods and services. Ripple, on the other hand, plans to deny the regulators a request for repeal. Why does this matter? The SEC's decision to appeal the ruling is a development in the ongoing legal battle between the agency and Ripple. The case outcome could have a major impact on the cryptocurrency industry, as it could set a precedent for how the SEC regulates cryptocurrencies. Guys, we're going to see more and more of these, you're going to have the, let me use this word right here. Yeah, I didn't want to say it because you're going to have a, it's basically a pickleball game. It's going to go back, it's going to go forward, it's going to go back, it's going to go forward. I don't have a law degree, because I don't have a, I can't explain to a five -year -old what this means. The SEC has filed its reply memorandum in further support of its motion to certify interlocutory appeal. Of course. When you say it like that, it just means, oh, of course. Basically what it means is, hey, stop, no you stop, no we stop. And then as we get closer to the real news, we'll start letting you know. But this is going to be a mini -month process, I don't see anything happening really, really quickly with this. All right, let's talk about the XRP market cap though. Is it up? Is it down? It's down. It is down. It's down big. Down big, folks. Bigly. Billions. Just one, actually. XRP one erases billion from its market cap in one week. What is this? Is this a towel? Is this a blanket? Is this a car cover? I was thinking the same thing. What is it? I want that swath of cloth. I don't know where it goes, but I just want that swath. Give me that swath. All right, as long as I can stop a moth from my swath of cloth, or maybe it's a cheese cloth for a broth. I don't know what it's for, folks, but anyways, let's get right into the story here. As the sell -off, we're going to go right into this, get ready, Kelly, get ready. As the sell -off continues across the wider cryptocurrency sector, XRP is no exception, having lost over one billion from its market cap in a matter of mere days, despite efforts to increase liquidity by unlocking a billion XRP from the Ripple's escrow system. Yeah, because let's increase liquidity by dumping a billion. That'll work, right? Whoa. No, I think maybe people saw that as a sell the news event there. From Ripple's escrow system and later relocking 80 % into two escrows, guys, they dump, and then the escrow usually sucks up a portion. Most of it. But then when you're not looking, then when you're not looking, that escrow account will dump a little. It'll sprinkle a little here and there. You're like, wait a minute. This is really interesting. You know, I obviously looked really far into XRP's Soconomics when I did the XRP price prediction video, which was actually the best one of them all, and this whole bit about how they unlock a billion XRP every month, and then it's, you know, an X amount, whatever percent, normally it's more than 50%, normally 70, 80 % gets sucked back into a different escrow account, but there is no determining why whatever amount gets pulled back. If anyone knows the answer to that question, please, by all, please let me know. It's Optics. I've thought about it. I think it's an Optics thing. Okay. It sounds really good. Look, we have, I don't know, what is it, 46 billion left, something like that, maybe, yeah, probably around 46, 47 maybe, they have 47 billion left and they dump a billion a month. That sounds pretty bad, but then when you interject this, oh, but we have this entity that just vacuums up 75 % every time. It doesn't sound as bad, and also Ripple, they probably want to make some money selling some Ripple 49 months from now, 50 months from now, 60 months from now, 100 months from now, 200 months from now, and the way they do it is they just suck it into that escrow account. Right. But I'm just saying sometimes it's 70%, sometimes it's 80%, sometimes it's, there's no, I get what you're saying, but there's no rhyme or reason to how much they pull back, and that has always just confused me, especially, people want to project, what will the supply be by 25%, what will the supply be by 30%, and when you have really weird kind of random things like this, it kind of leaves a lot of us stretching our heads, like how are we supposed to figure this out, and the answer is you don't, because it's up to them. No, so you're wondering, like why do they leave 20 % instead of 80 % or 1%, I think they do a little bit of... They change it every, they do it once a month, and it's different every time, it's different every time. It's crazy. I think it's, they think what the markets can absorb. Right, that makes sense. Yeah. That's probably more of a gut feeling. Sure. It's just there's no rhyme or reason to the numbers. There's probably some math quant that they have in a dark closet, and they're like, all right, how many can we, all right, 248 million. And then they shut the door and they see him in 30 days. They throw some Vienna sausage cans at him, probably try to hit him in his head. All right. Refill his water. I like it. I think that's exactly what happened.
Bankless
A highlight from Surveillance Finance 101 with Seth Hertlein and Michael Mosier
"Hey, Bankless Nation. I put out a tweet last week that said this, who can come on bank lists and explain the modern financial surveillance apparatus? FADF, FinCEN, AMLKYC, OFAC, the Blacklist, the Graylist. How does it all work? Who makes the rules? But in the space for years, I still don't understand these dark corners. That's very much how I felt coming to this episode, needing the financial surveillance 101. I knew it was an octopus, knew it was this multi -headed hydra. I had no idea how deep its roots actually go, and today we unpack this with legal experts. Seth Hirtline, he's the VP of Global Policy at Ledger, and also Michael Mosier. He actually has spent some time in the belly of the beast at both FinCEN and OFAC. Now he's on our team. He's the guy inside the house. Yeah, and now he's on Team Crypto, so he's got some insider baseball that he's going to tell us as we make sense of this. This was a really fantastic episode. I know I want to get your comments on this episode, but before we do, we've got a message from our friends and sponsors over at Ave. David, what does Ave want bankless listeners to know? Ave wants you to know that Ave V3 is here. I mean, it's been here. It's been here for six months. So why does Ave want you to know that V3 is here? Well, because apparently over a billion dollars of capital doesn't know that because it's still in Ave V2. Not only that, but there is a button for migrating your capital to Ave V3. So Ave, if you are an Ave V2 enjoyer, which you are free to because it is permissionless open source technology, they still want you. Everything gets better if all of the liquidity goes to the same place. So if you are using Ave but you are using Ave, an old version of Ave, perhaps consider joining the rest of the crew in Ave V3. It has more liquidity than Ave V2, but also some extra features as well. So power asset isolation mode and compartmentalize your risks. It's got some gas optimizations. It's got some extra bells and whistles. It's just a better version of Ave. App .Ave .com. But then also there is Ave Grants. If you are a builder building on Ave, especially their brand new stablecoin Go, there are grants available to you. So overall, there's a bunch of things to do in the Ave ecosystem, and there's a link in the show notes to get started with all of them. Yeah. My favorite, I would say both of our favorites, lending and borrowing protocol and crypto. They've been around since the very beginning. Ave is just fantastic. David, I know this episode was my idea. It's kind of like geeky, wonkish stuff, but I felt like it was so important, especially on the back of developers getting arrested in tornado cash. Like what is going on? I just realized one day I don't even understand what all of these are institutions and what gives the financial surveillance system their apparatus. What did you think of this episode? Yeah, I definitely would categorize this one as a Ryan episode. I was definitely in listening mode for the majority of this podcast. I mean, I guess that's what it's like to be a listener. You're in listening mode, so I guess telling listeners to enter listening mode, I guess doesn't help them. I learned a lot. It felt like story time, a little bit about American history. One of these episodes that we frequently do on Bankless every now and then about just like, hey, how did just the state of laws come to be in the way that they are and how are they downstream from the original American values that this country was founded on? What about the current settling of the dust around this new player in the world of, in this universe called cryptography? How is that disturbing the equilibrium and how do we need to extend American values into this new world? Because if we don't do that, then non -American values will take over. I think that's kind of the through line that I would, that will anchor Bankless listeners is that there's this new field in territory. We can have freedom enter and establish itself legally, or we can have authoritarian interests enter in that same field. And I mean, I think everyone knows which side that we want to win. We need to actually fight for that and fighting for that starts with understanding. And so I think that's why I enjoyed this episode is it helps tell that story. Yeah. And anytime David says American values, if you're outside the U S and you're like American values, just, just think of liberal values, like lowercase L values, right? Civil liberties you know, freedoms of citizens to, to express themselves and to transact without the surveillance of the government. That's really what we're talking here. And that's what's at stake more than anything. I think this episode impressed upon me that unchecked, this is just an octopus. This is just like a tree structure that will, I don't know, it's not an octopus slime mold. It will grow. Exactly. And, and it is growing and it has grown since like the 1970s. Anyway, absolutely fantastic episode guys. Stay tuned for this. But before we do, we want to tell you about our friends over at Kraken, which is our number one recommended exchange. Go check them out. Kraken pro has easily become the best crypto trading platform in the industry. The place I use to check the charts and the crypto prices. Even when I'm not looking to place a trade on Kraken pro, you'll have access to advanced charting tools, real time market data, and lightning fast trade execution, all inside their spiffy new modular interface. Kraken's new customizable modular layout lets you tailor your trading experience to suit your needs, pick and choose your favorite modules and place them anywhere you want in your screen with Kraken pro. You have that power, whether you are a seasoned pro or just starting out, join thousands of traders who trust Kraken pro for their crypto trading needs. Visit pro .kraken .com to get started today. Mantle formerly known as Bitdao is the first Dow led web three ecosystem, all built on top of mantle's first core product, the mantle network, a brand new high -performance Ethereum layer two built using the OP stack, but uses Eigen layers data availability solution instead of the expensive Ethereum layer one. Not only does this reduce mantle networks gas fees by 80%, but it also reduces gas fee volatility, providing a more stable foundation for mantle's applications. The mantle treasury is one of the biggest Dow owned treasuries, which is seeding an ecosystem of projects from all around the web free space for mantle. Mantle already has sub communities from around web three onboarded like game seven for web three gaming and by bit for TVL and liquidity and on -ramps. So if you want to build on the mantle network, mantle is offering a grants program that provides milestone based funding to promising projects that help expand secure and decentralized mantle. If you want to get started working with the first Dow led layer two ecosystem, check out mantle at mantle .xyz and follow them on Twitter at zero X mantle. Arbitrum is accelerating the web three landscape with a suite of secure Ethereum scaling solutions. Hundreds of projects have already deployed on Arbitrum one with flourishing defy and NFT ecosystems. Arbitrum Nova is quickly becoming a web three gaming hub and social daps like Reddit are also calling Arbitrum home. And now Arbitrum Orbit allows you to use Arbitrum secure scaling technology to build your own layer three, giving you access to interoperable customizable permissions with dedicated throughput. Whether you are a developer, enterprise or user, Arbitrum Orbit lets you take your project to new heights. All of these technologies leverage the security and decentralization of Ethereum and provide a builder experience that's intuitive, familiar and fully EVM compatible, faster transaction speeds and significantly lower gas fees. So visit arbitrum .io where you can join the community, dive into the developer docs, bridge your assets and start building your first app with Arbitrum experience web three development the way it was always meant to be secure, fast, cheap and friction free. Bankless nation. We are super excited to host two legal minds on our show today. Seth Hurtline is the vice president global head of policy at ledger and Michael Moser. He's the building ex ante. Um, he's formerly been at FinCEN and the treasury chief technical council at T analysis. So he's seen a thing or two in the space. Uh, welcome Michael. Thanks. All right guys. Uh, so what we're going to attempt to do on today's episode is give kind of the everyman explanation of financial surveillance. I feel like this is an episode. Um, maybe for me, it's, it's kind of a selfish episode because I feel like here I am in crypto and I've heard all of these, you know, four or five letter agencies. Uh, and it's recently started to impact my life with like tornado cash. I'm not entirely sure what these agencies are. I'm not entirely sure what's legal and what's not. I'm not entirely sure what powers each of these agencies actually have over my financial life. And I'm looking for like the one Oh one, I'm looking for like the, the explainer when we call it, talk about fat if, uh, and we're talking about OFAC, we're talking about whitelists and gray lists and we're talking about, you know, can I use tornado cash or not? And I can't because I'm an American. I just don't know what, uh, what every like what's going on here. So I feel like we need the one Oh one episode. So if you guys are game to do that, that's what, uh, this we're going to try to accomplish today. So I'm good. Great. Absolutely. Well, let's, um, let's kind of start domestic, uh, from sort of the U S perspective if we will, and then, then go international to kind of the rest of the world. But I want to start with maybe a working definition. So I'm thinking of this episode as like a financial surveillance one Oh one episode. And I'm wondering if you guys could sort of describe financial surveillance when I use that term, what does it mean to you? What is kind of happening behind the scenes? Who are some of the main agencies that hold the power? I'll throw this one to you first, Seth. Okay. Um, well, I, you know, I think, you know, for the purposes of this episode, let's, uh, you know, sort of carve out, you know, private sector or sort of corporate surveillance. Um, uh, let's, let's sort of limit the scope of today's conversation to, uh, to government surveillance. But I, you know, I think the, uh, you know, a good working definition could be, um, you know, information that is, uh, collected by, uh, or, uh, required to be reported to, uh, the, uh, the federal government or an agency thereof, uh, either by individuals or, um, uh, by, by service providers, intermediaries, uh, that they use for, uh, their everyday financial lives. So just to check that definition, Seth, I hear hearing two parts. One is the legally mandated reporting requirements, which if you don't do it, you get like something like fines and jail. And then there's additional information, which it would seem that the powers that be are able to just collect by their own visual, uh, mechanisms as in like it's information that's out there and they collect that information because it's available for them to collect. So that's two types of data. I mean, you know, Mike, I'd be curious your, your thoughts on this. I think it sort of converges effectively into, uh, more or less the same thing. Um, so, so maybe not a need to draw that particular distinction. Um, yeah, I think, I think it's a, I think it's a collective approach. It sort of, um, I think for two reasons, one is, you know, some of that will come into play, David, as we're, as we think about challenges, including constitutional challenges, uh, as courts have, have made a distinction between, uh, when you put your trash out, um, have you relinquished control of it? And if somebody goes through it, they just go through that through it, um, versus, uh, somebody coming in your house and going through your papers, which is the sort of genesis of the fourth amendment. Um, and I think as Seth's pointing out, we're, we're in a space here with, with web one, two, and now three, where there's tremendous amount that's, that's in this gray area between what's public and what isn't. I think even, even the concept of like what's public information at this point, um, is, is a lot more of a fine tuned, uh, fine nuanced issue, uh, including, I should say, like in a way that, that also these same government agencies that are, that are collecting it for various reasons. I mean, the, the mission of all of this, uh, and I think this is important is something when, when I was at FinCEN, we would say to the people on the Hill, making the laws too, sometimes without asking us first, uh, was that the primary mission is countering exploitation here. And so you have to factor into that, that the fact that this information out there and being collected in any form is also subject to creating greater exploitation. Uh, and that, that includes people's, you know, honeypots of people's data that gets hacked. Um, some of this recently coming up in FTX and Kroll, um, coming out of the bankruptcy. Uh, and that's something that, that I think there's the policymakers and the politicians, and then there's also the, operators out there, including at FinCEN and DOJ are saying, actually we don't need more cases and more victims. Uh, so can we protect some of this too? It's partly why we brought in privacy experts and did initiatives on zero knowledge proofs and homomorphic encryption at FinCEN. So I do think it's really important that we're, that we're talking about that very holistically. There's a lot out there. So already we're talking about FinCEN and DOJ and treasury and all these kinds of institutions. I want to get some working definitions on, but, but while we're, while we're talking about, um, this, this term, financial surveillance, all right, let's just get a grasp of what sort of data is generally being collected. And like, when is this primarily like, uh, intermediaries that are required to submit this? Because, um, as a, you know, a citizen of the US, I don't often have to, I guess I'm not like conscious of times that I'm like filing paperwork with treasury or FinCEN, but maybe I am through an intermediary and I, I just don't know it. So what sort of things are being tracked and, uh, surveilled and why? I'm happy to take that first. Yeah, I think, I mean, so it's true. You're not, although I will say there's, there's, uh, there's legislation out there, particularly in the tax space that could make you a reporter, Ryan, whether you like it or not, and whether everyone around you likes it or not. Uh, speaking of honeypots, like you may be collecting and reporting on others, but I think as, as in a traditional stand from the, from a FinCEN perspective in the Bank Secrecy Act, um, you're absolutely right. It would be intermediaries. Uh, and in fact, this goes back to some of the constitutional issues that, and the third party doctrine that Seth mentioned, but it's really transactional information. Um, and historically, in fact, the, we can talk through a little bit if you want the history of the Bank Secrecy Act, but it was exactly this. It was around, uh, reporting requirements basically, uh, coming up through the seventies. Um, and basically at the time it was purely, it was basically large cash. Um, law enforcement was seeing large cash deliveries to banks. I'm pretty sure it was organized crime. And when they would go to a bank, the bank would say, I don't know, I don't know why, um, Bugsy Siegel dropped off, $100 million. Uh, and so the other piece of that was that there was foreign Swiss banks, uh, at the time. And so this was the foreign transactions reporting piece of it too. Um, that had Swiss bank, Swiss secrecy, uh, Bank Secrecy, which is where the Bank Secrecy Act comes from. Um, and so the US would say, okay, well, we'll go to Switzerland where some of this money is getting sent from the bank that was brought in in cash. And they'd go to the Swiss and say, okay, you tell me about what's going on here. And they would say, there's nothing we can say. There's a secret, there's bank secrecy here. And so part of it was going to the US banks and saying, we need you to collect more information at the time. It was really just information of like, who's collecting it. Um, give me their, their, basically their, their bank opening information. Where do they live? What's their phone number? What's their, um, what's their occupation? What's their source of income, that sort of thing. It evolved over time to suspicious activity reports, which is much more, I think what, what you're thinking through, which is, okay, now a bank is making a determination. Seth came in the other day. He didn't just drop off a bunch of cash. He's, he's making anomalous, uh, deposits that don't make sense to us. Uh, this seems suspicious. He said he was, uh, he said he was a reporter, but he makes a million dollars a day. Um, what's going on here. And so they would file a suspicious activity report that would lay out, who is it? What did he say it came from? Um, and what is it that's suspicious about it? And I, and I should say like, you know, back in the day that would have been, he brought in a bag of cash, um, net, then it would evolve to checks and check numbers. Then it would evolve to trans, uh, wire transfers and the wire transfer information about every piece of that transaction who the correspondent bank was in the crypto space. That could be all sorts of things. What wallet address was connected? What time? Uh, if it's a, if it's a public ledger like Ethereum or Bitcoin, that might be, here's a graph of everything that that wallet touched, um, historically, uh, depending on what the platform is, they may collect the IP address, even the device identifier that Seth used to connect. Um, so there's a tremendous amount of data and metadata that could be collected in that. Can we, Michael, so can we go back to kind of the history here, uh, with you guys to make sure I understand it. So there wasn't, and we're still domestic, so we're still talking about the U S and we'll expand international after this. So, um, prior to like the 1970s, am I right to say there wasn't much financial surveillance? And then in the nine 1970s, is that, is that correct? Yeah. Yeah. Okay. So that's correct. And then in the 1970s, basically to kind of fight crime, maybe organized crime, you know, the mafia was sort of one, uh, one organization that was in the cross hairs. Uh, the U S came out with a bank secrecy act and this started sort of the, the surveillance, financial uh, apparatus. And, and so this, is this the reason basically for AML KYC, which is like, I have to be identified before I can like, you know, with a government ID, let's say before I can open a bank account. And this is the reason when I go to like transfer money or take out a large deposit from my bank, uh, the bank teller will say, what are you doing with that? Like, how are you using that money to ask these questions? I'm always like, why, why do you need to know this? Uh, you know, and it's almost couched as if, well, we want to protect you from frauds and scams and you know, maybe that's part of it. It seems like more of it is, is, is kind of this financial surveillance apparatus. So that's why I have to present an ID. That is why they are asking questions like, what are you doing with the money? And can you tell me more about, uh, the source of the funds? These are all questions. I'm, I know many bankless listeners have, have seen from their banks and it all, all emanated from this legislation from the, the 1970s and the bank secrecy act is that, is this correct? Yeah. So it started, uh, bank secrecy act was enacted in 1970. Um, and you know, at, at that time it was, uh, you know, a much smaller version, uh, you know, than it is now. Uh, right. So in 1970 I had two, uh, two core provisions, title one, title two, title one basically said banks have to, um, record, uh, transactions of their customers. They have to keep an internal log of all the transactions their customers made. Title two said the banks have to report, uh, transactions over a certain size to the treasury department. And in 1970, that, that threshold was set at, at 10 ,000 us dollars. Um, and so that created, um, one of these forms that, uh, the reports get made on called a CTR or currency transaction report. Uh, importantly, the, uh, that threshold, that $10 ,000, uh, hasn't ever been adjusted. Right. So if you, if you go back and you adjust the CTR threshold, uh, back to, to 1970 dollars, it's the equivalent of about $79 ,000 today. Wow. And what that amounts, yeah. What amounts that amounts to is, uh, you know, a gradual but constant tightening of the noose of, uh, transaction reporting of, uh, you know, the American people. Uh, and, you know, and so that's where it started. Um, you know, but, you know, both as, as sort of Mike and, and Ryan, your, your, your comments alluded to, there's this sort of creeping nature of it where it all, it just expands. Right. So first it was just the CTRs and the record keeping, you know, now it's, uh, SARs or suspicious activity ports that were added in 1992. Um, there was a, a vast expansion of the scope of the types of transactions it just really quick SARS. So suspicious activities report, is that basically incumbent on sort of the bank teller or bank employee to be like, Hey, there's something fishy about this transaction and I'm going to report it up. Is that right? Exactly. Exactly. Okay. Um, and, um, you know, so interesting stat on, on suspicious activity reports, um, somewhere North of 2 million SARS get filed with Vincent every year. Um, uh, you know, again, curious for your, for your insider take on this mic, but, uh, you know, testimony, uh, presented to Congress is that FinCEN reviews less than 1 % of the SARS that are actually filed. Um, and, you know, and, and there are, you know, way more CTRs filed than SARS filed. So, you know, most of this information goes into, uh, you know, basically just a government database and sits there waiting to be queried. Um, and, uh, you know, but so, uh, these things keep getting added on to the BSA, right? So it, it grows over time and there was a huge expansion in scope. BSA bank secrecy act. And so there was a big expansion in scope, um, as part of the Patriot act, uh, after nine 11, uh, that added a lot of new types of information that had to be gathered and reported and, uh, new intermediary types that are responsible for gathering and reporting that information.
The Breakdown
A highlight from UPDATED: How Big A Deal Are The Changes to Crypto Accounting Standards?
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Thursday, September 7th, and today we are asking how big a deal are new crypto accounting rules? Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on The Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Now, reiterating that point, I said this on my AI show as well, but today you are listening to a birthday episode. Yes, 39 years ago today I was born, and if you would like to give me a beautiful gift, leaving a rating or a review for this show wherever you happen to listen to it would be an awesome, awesome thing to do. I appreciate all of you listeners and participants, and so let's talk new crypto accounting rules. The Financial Accounting Standards Board, or FASB, have changed their recommendations for how crypto holdings should be recorded in corporate financial statements. The FASB oversees reporting and accounting standards for companies that follow generally accepted accounting principles or GAAP guidelines. On Wednesday, the FASB unanimously passed a vote to recommend fair value accounting for crypto assets held on corporate balance sheets. This means crypto will be marked at the prevailing market price in financial reporting. Previously, corporations were recommended to record impairment losses on their balance sheet when the price of crypto fell. This impairment was not removed if crypto prices recovered, making it difficult to quickly determine the value of corporate crypto holdings using this method. Michael Saylor, the chairman of MicroStrategy, has been railing against this recommended accounting for years, claiming that it made little sense it was misleading to investors. MicroStrategy and some other companies worked around this problem by providing an alternative accounting within their financial disclosures, which included the current fair value of crypto holdings. Now, the FASB kept the proposed changes simple and elected not to address NFTs, wrapped tokens, or stablecoins for now. Companies may begin using this method in their official accounting immediately, with the rules officially changing in 2025. FASB member Christine Bodasan said, It's not very often that we can both take cost out of the system and improve the decision usefulness of information, and it makes it a really easy vote to do both of those. Jeff Runlet, the head of accounting strategy at accounting software company Cryptio, said, It's a great step forward for the entire crypto market. I think it's a great step towards mainstream adoption. I can see finalizing this proposal to help large corporations that are maybe scared to hold crypto on their balance sheet because they're scared of the technical complexities. Now, by and large, the community greeted the news as something that was unlikely to cause big widespread attention, but which was quietly significant. Michael Saylor tweeted, Fair value accounting is coming to Bitcoin. This upgrade to FASB accounting rules eliminates a major impediment to corporate adoption of Bitcoin as a treasury asset. Stack Hodler says, Huge FASB votes in favor of fair value accounting for Bitcoin on corporate balance sheets. Most public corporations couldn't stack Bitcoin without this rule change. Now, cash rich companies have a way to ensure their bond portfolios against debasement. Dr. Chris Dark said, They voted unanimously to change the rules to fair value accounting, which is logical by the end of the year. FASB rule change for crypto matters for corporates a lot. It's boring and wonky, but it fixes one of the most silly accounting rules where it was an indefinite lived intangible asset. TLDR, corporates will be able to hold Bitcoin or ETH or crypto, and in quarterly accounts it will be valued at its fair value, not by the current rules, which is at its purchase cost minus impairment. Genuinely big news that no one will care much about. Well, Dr. Dark, we care about it here at The Breakdown. Next up, another bit of news along the same theme of institutionalization, which really one could joke, pretty reasonably, that the perpetual bull narrative in crypto is institutions just around the corner. Anyway, a pair of asset managers filed applications for Spot Ethereum ETFs on Wednesday. ARK, in partnership with 21Shares as well as VanEck, will try their luck to get the first of their kind products approved by the SEC. Now a reminder about process, once the regulator acknowledges the applications, that will start the clock on a 240 -day deadline for a final SEC decision. The first interim deadline for the regulator comes after 45 days, and these Spot ETH filings join 16 existing applications for products offering exposure to Ethereum futures. Now if you want a little more insight into 21Shares and their parent 21 .co, go check out my interview with CEO Hani Rashwan on Bitcoin Builders. We talk about how much the company and the industry has changed since they got their first -ever crypto exchange -traded product approved in December of 2018. Now back to this news, both of the applications filed on Wednesday featured a surveillance sharing agreement with Coinbase. This feature is intended to monitor Spot crypto markets for manipulation and has been seen as a key difference in the latest round of Spot Bitcoin ETF applications. Coinbase will also serve as the custodian for the ARK 21Shares ETF, although VanEck has not yet named a custodian. Up until now, the SEC has always summarily requested the withdrawal of Spot ETF applications. And yet, Grayscale's recent courtroom win has been widely viewed as making the SEC's continued rejection of Spot crypto ETFs for major tokens, if not untenable, then certainly at least on borrowed time. One of the key rulings is that there was no fundamental difference between how futures -based and spot -based ETFs should be considered, given that the markets are 99 % correlated. When all is said and done, Bloomberg analysts expect additional Spot ETH ETF applications to pour in over the rest of the week. Bloomberg analyst James Safard tweets, The Spot Ethereum ETF race is officially on. It's early, but I'd estimate a final deadline on these applications to be around May 23, 2024. Now, all the same, many crypto traders noticed that, once again, a bullish piece of news had basically no impact on price. ETH pumped an anemic 2 % on the news and then fully retraced. Based Carbon tweeted, We used to pump coins harder on fake Grayscale trust filings than we did on a real ETH ETF filing. Still, I think analyst Ilo has it when they write, Price action still looks like it's going to be bleak in the short term. No liquidity, no volume, everything basically dead. But 2024 is shaping up like this. Approved ETH futures and spot ETFs, hard to ask for a better setup. You get to buy the lows before all the flows are with us again. Shoot your shot. However, because we are in this in -between moment, that means that any day that has a bunch of good news is also going to have, if not bad news, then at least news of the cleanup and fallout of last year. On that front, bankrupt crypto lender Genesys have sued parent company Digital Currency Group for payment of over $620 million in loans, which came due in May. These loans have been at the center of the Genesys bankruptcy, with allegations that they were made in an attempt to paper over problems within the DCG empire after the collapse of Three Arrows Capital in May of last year. And yet, despite their notoriety, relatively little has been known about the details of these loans until this lawsuit was filed. According to the complaint, Genesys loaned DCG almost 19 ,000 Bitcoin in June 2022 under the terms of an open loan agreement first signed in 2019. In November, the loan was converted to a fixed term due on May 11th this year. The filing states that the loan was partially repaid with a balance of 4 ,550 .5 Bitcoin outstanding. The two parties underwent mediation, which ended in August, but continued to negotiate. According to a separate document also filed on Wednesday, Genesys extended four cash loans to DCG throughout 2022 worth a total of $500 million. DCG claimed that it was able to convert the loans back to open term loans under the prior agreement, but Genesys disagreed. Genesys is seeking the repayment of principal without late fees. Now, it's unlikely that this lawsuit will move forward anytime soon, as Genesys has stayed the court process. A DCG spokesperson said, Genesys has agreed to stay the turnover action so that we can move forward with documenting the deal in principle that was reached with Genesys, the Unsecured Creditors Committee, and DCG. We are documenting a forbearance agreement and expect to file it with the court shortly. At that point, we will initiate the distribution of funds and continue on the path to significant recovery for Genesys creditors. Now, you'll remember that this in -principle agreement was filed in late August and promised repayment of 70 -90 % on unsecured creditor claims. The deal was widely panned as a bad deal by commentators, and Gemini, who are the largest creditor in the Genesys bankruptcy, do not support the agreement. Roe Rider tweets, SEC needed a new reason to deny Grayscale ETF. Well, they just got it. Pending litigation against a parent company from lenders involving substantial underlying shares and assets is all the excuse they'll need. DCG can only hide behind its entity structure for so long. Now, one more smaller side story staying in the DCG world. Arkham Intelligence believes that they have identified a Bitcoin wallet cluster belonging to Grayscale. The on -chain tracking platform has flagged over 1 ,750 wallet addresses linked to Grayscale's Bitcoin trust holdings. Each wallet holds less than 1 ,000 Bitcoin worth around $25 .7 million. In total, the wallet cluster sums to $16 .1 billion in Bitcoin holdings, matching Grayscale's public disclosures. Arkham did not disclose the full list of wallet addresses. In addition to the Bitcoin wallets, though, Arkham has also identified Grayscale wallets containing other assets including $4 .9 billion in ETH. Moving on to other Fallout stories. The assets of former Celsius CEO Alex Mashinsky have been frozen according to a court order unsealed on Wednesday. The order was originally issued on August 16th, and the list of assets included accounts held with Goldman Sachs, Merrill Lynch, and SoFi Bank, as well as a property in Austin, Texas. It included assets held in the name of companies Koala LLC and AM Ventures Holdings, as well as in the personal names of Alex Mashinsky and his wife Christine. Financial institutions are no longer permitted to facilitate transactions to and from the listed accounts. Mashinsky was of course arrested in July in relation to criminal fraud charges surrounding his operation of Celsius. Prosecutors claim Mashinsky defrauded customers and lied about Celsius's profitability. Mashinsky has pleaded not guilty to the criminal charges, which his lawyers have called baseless. He was released on bail after posting a $40 million bond. Mashinsky also faces civil lawsuits from the SEC, the CFTC, and the Federal Trade Commission. Over in FTX world, SPF's request for immediate release from jail has been rejected, pending appeal. Sam is currently appealing a decision to revoke his bail made last month by the Federal Circuit Judge assigned to his criminal case. The Court of Appeals denied a motion for immediate release on Wednesday, but will hear the appeal before a panel of three judges at the next available opportunity, although it's unclear how long that will take. Now, Sam's trial is set to begin in less than four weeks. Defense attorneys have been protesting Sam's lack of access to a suitable laptop to review volumes of evidence, which have been disclosed by prosecutors in discovery. They've complained of low -quality internet access on a laptop with insufficient battery life when Sam is brought to the courthouse to look over documents in a holding cell. But according to a joint letter filed by the DOJ on Tuesday, Sam now has an upgraded battery and access to the laptop seven days a week, with copies of the discovery documents downloaded to hard drives. The letter also claimed that the internet access provided is sufficient for most internet review activities. Sam's defense team has until the close of this week to apply for a delayed start to the trial on account of the claimed difficulty accessing documents. That said, during a hearing last week, the judge made no indication of whether they were likely to grant a delay on the information currently disclosed. Now, earlier this morning, Bloomberg also reported that Ryan Salem was going to be pleading guilty, but as of recording, we don't have more info as to what, so we'll have to circle back to that later this week. Lastly today, tornado cash developer Roman Storm was arraigned on Wednesday. He has pleaded not guilty to charges of conspiracy to operate a money transmitter, facilitate money laundering, and sanctions evasion. Storm was released on a $2 million personal recognizance bond secured by his residence in Washington state immediately after his arrest last month. The tornado cash co -founder will remain on house arrest with limited travel allowed in central California, as well as to New York and New Jersey to attend court hearings. A Russian passport was seized from Storm who maintains dual citizenship. Fellow tornado cash co -founder Alexei Perseve is facing similar charges in the Netherlands and remains on house arrest awaiting his trial, and a third co -founder Roman Semenov has been charged by the DOJ but remains at large. Authorities allege the trio knowingly facilitated over $1 billion in money laundering through tornado cash without mitigating its illegal use. Tornado cash was for a time believed to be the primary money laundering system used by notorious North Korean hackers the Lazarus Group. Storm's lawyer, considered one of the top criminal defense attorneys in the crypto legal community, has said that authorities are In that, this case will be much more significant than just whether this set of people happen to do wrong. Anyways friends, that is going to do it for this birthday edition of The Breakdown. I appreciate you listening as always. Until tomorrow, be safe and take care of each other.
The Breakdown
A highlight from The IMF Finally Realizes You Can't Ban Crypto
"Welcome back to The Breakdown with me, N .L .W. It's a daily podcast on macro, Bitcoin and the big picture power shifts remaking our world. What's going on, guys? It is Friday, September 8th, and today we are wrapping up the week with a little bit of discussion of some new guidance about how crypto is not going to be successfully banned, as well as a new paper on privacy that's generating a lot of conversation. But before that, if you are enjoying The Breakdown, please go subscribe to it. Give it a rating, give it a review. Or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello friends. Happy Friday. Today we are rounding out the week with a number of different stories across the industry and we're kicking off with something that I think everyone who is in this industry knows intuitively, but which is finally being recognized from the outside in as well. The International Monetary Fund and the Financial Stability Board have just released a new paper called Policies for Crypto Assets. The abstract reads, crypto assets have been in existence for more than a decade and have displayed significant volatility. Alongside their volatility, crypto asset activities have also grown in complexity. So far, direct connections between crypto assets and systemically important financial institutions, core financial markets, and market infrastructures have been limited. Nevertheless, they have the potential to emerge as a source of systemic risk in specific jurisdictions if they gain traction for payments or retail investments. This is something we've heard from this set of international institutions quite a bit. Basically that crypto isn't that risky now because it's not really fully integrated into the existing financial system, but that should it get integrated into that system, it could indeed create a number of risks. We've seen this language, for example, quite a bit from the Bank for International Settlements and particularly around areas such as stablecoins. Now, this is a big overarching paper. Back to the abstract again, it reads, at the request of the Indian G20 presidency, the IMF and the FSB have developed this paper to synthesize the IMF and the FSB's policy recommendations and standards. The collective recommendations provide comprehensive guidance to help authorities address the macroeconomic and financial stability risks posed by crypto asset activities and markets, including those associated with stablecoins and those conducted through so -called decentralized finance. As you heard from that, the paper was commissioned by the G20. Currently, the leadership of that organization is India and is set to be presented at a meeting of the G20 this weekend. The headline taken away by CoinDesk and many of the other crypto outlets out there is that the paper basically says that blanket crypto bans just will not work. According to the report, quote, imposing blanket bans that make all crypto activities, including trading and mining, illegal in one jurisdiction is not only expensive and technically challenging, but could also lead to activity migrating to other jurisdictions, creating spillover risks. This is, again, something that we know really intuitively. When you ban mining in one place, you're really just saying you're banning companies in your jurisdiction from mining. Now, this language echoes things that we've heard from the IMF before. In June, in a blog post about central bank digital currencies in Latin America and the Caribbean, the IMF wrote, Now, hold aside any cynicism. I do think the world would look a lot better if governments were recognizing why people wanted to get out of their monetary systems and try to address those issues. And yet I believe many of us here don't really think that that is a particularly plausible thing to happen. So what does this new report suggest instead of these blanket bans? Well, it says that the first line of defense against the macroeconomic and financial risks posed by crypto assets are robust macroeconomic policies, credible institutional frameworks and comprehensive regulation and oversight. That said, quote, Coinbase sums up the IMF and FSB say jurisdictions might consider targeted and temporary restrictions to manage some risk factors in stressful times or while countries find better internal fixes. The examples that the paper gave included targeted restrictions on privacy coins in places like Dubai, as well as a ban on Nigerian banks servicing crypto firms. Now, once again, as we've seen before, these international institutions are really concerned about stable coins. The paper says rapid capital flight or reversals could materialize if foreign currency denominated stable coins became easier and cheaper to hold in large quantities relative to foreign currency bank accounts. They say that global stable coins that are adopted by multiple jurisdictions, quote, may transmit volatility more abruptly than crypto assets and may cause significant risk to financial stability. So overall, there is nothing shocking or crazy new in this paper. Instead, I think it's a reflection of where the discourse is with these big international institutions right now. Grudgingly, they are accepting that crypto is here to stay and are recognizing that their time is probably better spent trying to help member governments figure out how to mitigate the worst risks rather than entertaining some fantasy of blocking it out entirely. Now, of course, as you heard, one of the ways in which they might look to do that, or at least one of the examples that was given, was targeted restrictions on things like privacy coins. Privacy in the crypto asset space has been particularly contentious, especially as global regulations and the fad of travel rule get more deeply implemented. And in general, the more that crypto comes into the Bank Secrecy Act sort of regulatory apparatus. Obviously, one of the things that we have talked about a huge amount on this show has been the tornado cash sanctions and then criminal accusations against the founders. And I think that that's part and parcel of this process of figuring out how crypto integrates with the larger system. On that front, a really interesting paper came out this week that was notable in part for who wrote it. One of the authors being Ethereum creator Vitalik Buterin, and for its exploration of this particular question, i .e. whether you can bring privacy to a protocol without it just becoming another tornado cash. The paper was titled Blockchain Privacy and Regulatory Compliance, Towards a Practical Equilibrium. Its authors include Vitalik Buterin, who I just mentioned, Jacob Ilham of Chainalysis, as well as supporting authors including Fabian Schar, and Matthias Nadler, as well as Amin Soleimani. It proposes a similar system to existing mixers like tornado cash, but that have built -in protections against money laundering. The proposed protocol would allow users to deposit funds to be mixed within a shared pool. Users could then withdraw funds to a fresh wallet, severing the link between wallets — in other words, basic mixer functionality to provide privacy to users. The twist is that the protocol would use zero -knowledge proofs to allow users to prove that their funds came from a particular set of deposits. By restricting the ability to deposit into these pools to users who can provide a known legal source of funds, the protocol can ensure that no illicit funds are mixed. The paper's abstract says that The paper goes on to explain that Now, the proposal builds on prior comments from Vitalik where he stated that tornado cash was a good privacy solution, but had limited options to disassociate between deposits from good actors and bad actors on the network. Vitalik's opinion is that the regulatory crackdowns on the illicit use of crypto networks are inevitable, and so the industry should be proactive in demonstrating that compliant privacy tools can be built. The paper argues that if the privacy -enhancing protocol enables its users to prove certain properties regarding the origin of their funds. Introducing the paper, Amin wrote, The importance of this paper is difficult to overstate. As crypto builds toward a world where financial intermediaries are optional, it is also our responsibility to engage regulators and implement new compliance tools designed for self -custody. So what were people's responses to this? Dragonfly managing partner Haseeb Qureshi says, They could still generate low -quality or stale whitelist proofs. Is that enough to satisfy the DOJ's bar for compliance? Note that tornado cash had a compliance tool that allowed any user to prove their chain of custody to a third party, such as to an exchange or law enforcement. They also blocked sanctioned addresses from the front end. Even when blocking OFAC -sanctioned addresses from the front end and implementing this ability for depositors to prove their provenance, the DOJ concluded that they were nevertheless liable for how tornado was being used by Lazarus Group. All that said, obviously there are other facts to the tornado case. And I'm not a lawyer, so this is not legal advice. And there are a lot of cool ideas in this paper. But I'm not sure this is going to be a sufficient improvement from the perspective of the DOJ. So basically Haseeb is saying lots of cool stuff in here. But if the question is whether the US government is cool with this, he remains skeptical. Interestingly, Austin Campbell responded and said, Now, another line of conversation is that this is way too much compromise when it comes to critical issues of privacy. Matt Corallo tweets, Now, Matt's post did a great job of pinpointing a key critique and getting people to respond to that. A lot of the discussion in the comments then becomes about what compromise people should be willing to take. Masari's Ryan Selkis responds, Scott Lewis writes, I think it makes more sense to go halfway first. The next best competitor is a CBDC run on one computer by the government. Isolating crypto too aggressively will leave the entire global citizenry in a much worse place. We have to be pragmatic if we want to win. Rainier Stiles Grant toes a middle line saying, Now, there is a ton to debate in here, and debate the community certainly has. Some questions are extremely political. Whether one thinks there should be any compromises in this area, or whether cypherpunks need to keep fighting for true privacy when it comes to transactions. Some are really excited and engaged that there are pragmatic solutions being offered by people from within the industry. Others are pointing out specific technical problems, and in some cases recommending different approaches. Ultimately, I find myself agreeing with Bill Hughes when he writes, However, that is going to do it for today's episode. I appreciate you guys listening as always. Until tomorrow, be safe and take care of each other.
CoinDesk Podcast Network
A highlight from UNCHAINED: Could This Vitalik-Backed Protocol Bring Privacy to a Regulated Crypto World?
"Hi, everyone. Welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full -time. This is the September 8th, 2023 episode of Unchained. Arbitrum's leading layer -2 scaling solution offers you ultra -cheap and lightning -fast transactions, all with security rooted on Ethereum. Visit arbitrum .io today. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. With the crypto .com app, you can buy, trade and spend crypto in one place. Download and get $25 with the code Laura. Link in the description. Today's episode is brought to you by Overtime Markets, your premier web3 sports book. The innovative protocol is changing the game one match at a time. Powered by fails, explore more at overtimemarkets .xyz. Today's guest is Jakob Ilum, chief scientist at Chainalysis. Welcome, Jakob. Hi, Laura. Thanks for having me. This week, you, along with co -authors, including Ethereum creator Vitalik Buterin, academics Fabian Schar and Matt Nadler, and Ethereum developer Amin Soleimani, published a new paper on a smart on what the paper details and how it works and, you know, just all those technical matters. Explain to us how it came about. What's been happening with crypto privacy tools that motivated you all to come up with this protocol and publish this paper? Yeah, so there's been, you know, a lot going on talking about privacy and blockchain, right? Most of the blockchains out there, particularly the EVM chains are highly transparent in the way everything is displayed. And that leads to the conversation around like financial privacy, we all want that to a certain degree. But like, how is that going to be established on chain has always been a question. And there's the regulatory pieces of different jurisdictions, you know, looking at blockchain in different ways. And we thought that it would be interesting to actually take people from different aspects of the field and come together and try to talk about this problem and try to come up with some technical solutions that may help in that conversation. And that's really what this was. That's how we found each other and decided to write a paper about it. And I believe one other aspect that probably was lent some urgency to this is that there was a time when North Korea used tornado cash to launder stolen funds. And about a year ago, US government's Office of Foreign Assets Control sanctioned the tornado cash smart contracts, which effectively made it impossible for any US citizen to use tornado cash. And then more recently, the government charged co -founders Roman Storm and Roman Semenov, and also arrested Storm for facilitating money laundering using tornado cash. So although crypto advocates said last year that they thought the US government had gotten it wrong on tornado cash and had overreached, it appears now that the US government is doubling down on this approach. And I saw that tornado cash and what happened with that was referenced in the paper. So if people choose to read it, then you can see how it relates to what is being proposed here. The paper, even though it gives that as a backdrop, it really sidesteps this sort of legal debate and just proposes a technological solution. And that is privacy pools. So can you explain what those are? Yeah, so just to go back on the tornado cash side of it, right, like, what happened is that there was a lot of people that got entangled all of a sudden with North Korea using tornado cash and the sanctions designation of tornado cash. So a lot of people that were using tornado cash for legitimate purposes got tied up in that. And so for that reason, and what was kind of the premise for this paper is that there must be ways where you can dissociate from the activity that you don't want to be part of. People that were using tornado cash, I'm sure a lot of people did not want to be associated with North Korea. And so that's the, at least with the funds that were flowing through allegedly. And so the idea in the privacy pool concept is that you can actually selectively choose to say, I am participating in this pool, and the funds that I am withdrawing from this pool is coming from this very selective subset. It's not part of this subset, but it's part of this. So you can actually pick and choose, if you understand the funds that have flown into the pool, what you want to be associated with and what you want to be to disassociate with. And that would give people that option to say, well, if everybody agrees that these are funds that are flowing into the pool from some kind of hack or money laundering process, you can disassociate from that as you're withdrawing funds and you can provably argue that those are not the funds that you are withdrawing on the other side. So that's the base premise of the technology. And there's certain core technologies that are used to make this possible. So what are those? Yeah, so this is all built around zero knowledge proofs. And zero knowledge proofs means that you can basically argue that you have the information to make some argument true without actually supplying all the information. So in this case right here, you can say, you can prove in a way that everybody can validate to say, my deposit was one of these and not one of those and supply that proof. And anybody can validate that that's true without you ever actually providing the information of which deposit was yours. So basically you provide their zero knowledge about the information that you hold private, which is your exact deposit. So that's where the zero knowledge aspect comes into it. And so in a way, it's almost like it allows good actors to prove that they are a good actor, but then bad actors will never be able to without also thereby kind of revealing that they are one of these bad actors. Is that the basic premise? Yes, that's exactly right. So now let's talk about how this works in practice, kind of like on a practical level. One key piece of this that I noticed is that it relies on intermediaries called association set providers. What are those and how do those work? Yeah, so association set providers is the concept of people that can assign some kind of properties to these deposits that are flowing into the pool, right? If you are a regular user, you don't know who else might be using this privacy pool. You don't know where all the other deposits are coming from. So how do you pick and choose what you want to be part of and what you don't want to be part of? That's not going to be something an average user can do. You need some kind of blockchain forensics or blockchain analytics kind of background and capability to be able to do that. And so what we propose in the paper is that somebody that has that kind of capability could actually provide that insight. So they could, for instance, look at the blockchain, look at the deposits that are coming in and saying, hey, these deposits here appear to be coming from very legitimate sources and we are providing a set around those. So now everybody can use that set that has been somehow if you trust the provider, whoever is providing it, you can rely on their judgment that this might be a set of deposits that you want to be associated with. And so you can pick that, provide your proof to the protocol and withdraw funds on the other side. And now that would be the set of deposits that you would be associated with. And so somebody needs to be either the entity or the company or the organization that provides these association sets. And that could be multiple different entities that have an interest in providing such sets to the public. And what types of organizations do you envision for those? Is it industry groups coming together or existing financial institutions or is it like DAOs or like how are you? I think there's a number of different options here. It depends on what you want to achieve. Actually, I don't think there's just one type. I think there's actually many because the users of these privacy pools could have multiple interests on the other side. It could be some organizations want to make sure that all the withdrawals are coming from a small group of financial institutions while you can provide association sets around them. And maybe that could be provided by those institutions themselves. I'm also thinking that companies such as Chain Analysis that has a lot of blockchain forensics expertise could help provide such association sets that could help vet these deposits as they're flowing into the pool. I could imagine that there would be other kinds of organizations that have an interest in terms of, let's say, that understands maybe the regulatory environment of a particular group. People that understand which deposits may qualify for one thing or another. And so whoever has that kind of knowledge, whether it's an organization or whether it's a company, they would be able to provide these sets. And I think who exactly they end up being is something that would evolve over time. So in a moment, we're going to look at some of the pros and cons of this setup. But first, a quick word from the sponsors who make this show possible.
Unchained
A highlight from Could This Vitalik-Backed Protocol Bring Privacy to a Regulated Crypto World? - Ep. 542
"My opinion is that everybody should have a right to use the blockchain in the way that they want. And if somebody wants to participate and get privacy where they don't mind providing some kind of association set with their withdrawals because it enables them to spend their coins maybe more freely, I think that's going to be something that's going to lead to greater adoption of blockchain. And that's my ultimate goal is wider adoption. Hi everyone, welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full -time. This is the September 8th, 2023 episode of Unchained. Arbitrum's leading layer -2 scaling solution offers you ultra -cheap and lightning -fast transactions, all with security rooted on Ethereum. Visit arbitrum .io today. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. With the crypto .com app, you can buy, trade and spend crypto in one place. Download and get $25 with the code LAURA. Link in the description. Today's episode is brought to you by Overtime Markets, your premier Web3 sportsbook. The innovative protocol is changing the game one match at a time. Powered by fails, explore more at overtimemarkets .xyz. Crypto moves at lightning speed. For the latest crypto updates, be sure to subscribe to our daily newsletter at unchainedcrypto .substack .com. Again, that's unchainedcrypto .substack .com. Today's guest is Jakob Ilum, chief scientist at Chainalysis. Welcome Jakob. Hi, Laura. Thanks for, thanks for having me. This week, you, along with co -authors, including Ethereum creator Vitalik Buterin, academics Fabian Schar and Matt Nadler, and Ethereum developer Amin Soleimani, published a new paper on a smart contract protocol you are calling Privacy Pools. Before we dive into all the details on what the paper details and how it works and, you know, just all those technical matters, explain to us how it came about. What's been happening with crypto privacy tools that motivated you all to come up with this protocol and publish this paper? Yeah, so there's been, you know, a lot going on talking about privacy and blockchain, right? Most of the blockchains out there, particularly the EVM chains, are highly transparent in the way everything is displayed. And that leads to the conversation around like financial privacy. We all want that to a certain degree, but like, how is that going to be established on chain has always been a question. And there's the regulatory pieces of different jurisdictions, you know, looking at blockchain in different ways. And we thought that it would be interesting to actually take people from different aspects of the field and come together and try to talk about this problem and try to come up with some technical solutions that may help in that conversation. And that's really what this was. That's how we found each other and decided to write a paper about it. And I believe one other aspect that probably lent some urgency to this is that there was a time when North Korea used tornado cash to launder stolen funds. And about a year ago, the U .S. government's Office of Foreign Assets Control sanctioned the tornado cash smart contracts, which effectively made it impossible for any U .S. citizen to use tornado cash. And then more recently, the government charged co -founders Roman Storm and Roman Semenov and also arrested Storm for facilitating money laundering using tornado cash. So although crypto advocates said last year that they thought the U .S. government had gotten it wrong on tornado cash and had overreached, it appears now that the U .S. government is doubling down on this approach. And I saw that tornado cash and what happened with that was referenced in the paper. So if people choose to read it, then you can see how it relates to what is being proposed here. The paper, even though it gives that as a backdrop, it really sidesteps this sort of legal debate and just proposes a technological solution. And that is privacy polls. So can you explain what those are? Yeah. So just to go back on the tornado cash side of it, right, like what happened is that there's a lot of people that got entangled all of a sudden with North Korea using tornado cash and the sanctions designation of tornado cash. So a lot of people that were using tornado cash for legitimate purposes got tied up in that. And so for that reason and what was kind of the premise for this paper is that there must be ways where you can dissociate from the activity that you don't want to be part of. People that were using tornado cash, I'm sure a lot of people did not want to be associated with North Korea. And so that's the, at least with the funds that were flowing through, allegedly.
The Breakdown
A highlight from How Big A Deal Are The Changes to Crypto Accounting Standards?
"Welcome back to The Breakdown with me, N .L .W. It's a daily podcast on macro, Bitcoin and the big picture power shifts remaking our world. What's going on, guys? It is Friday, September 8th, and today we are wrapping up the week with a little bit of discussion of some new guidance about how crypto is not going to be successfully banned, as well as a new paper on privacy that's generating a lot of conversation. But before that, if you are enjoying The Breakdown, please go subscribe to it. Give it a rating, give it a review. Or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello friends. Happy Friday. Today we are rounding out the week with a number of different stories across the industry and we're kicking off with something that I think everyone who is in this industry knows intuitively, but which is finally being recognized from the outside in as well. The International Monetary Fund and the Financial Stability Board have just released a new paper called Policies for Crypto Assets. The abstract reads, crypto assets have been in existence for more than a decade and have displayed significant volatility. Alongside their volatility, crypto asset activities have also grown in complexity. So far, direct connections between crypto assets and systemically important financial institutions, core financial markets, and market infrastructures have been limited. Nevertheless, they have the potential to emerge as a source of systemic risk in specific jurisdictions if they gain traction for payments or retail investments. This is something we've heard from this set of international institutions quite a bit. Basically that crypto isn't that risky now because it's not really fully integrated into the existing financial system, but that should it get integrated into that system, it could indeed create a number of risks. We've seen this language, for example, quite a bit from the Bank for International Settlements and particularly around areas such as stablecoins. Now, this is a big overarching paper. Back to the abstract again, it reads, at the request of the Indian G20 presidency, the IMF and the FSB have developed this paper to synthesize the IMF and the FSB's policy recommendations and standards. The collective recommendations provide comprehensive guidance to help authorities address the macroeconomic and financial stability risks posed by crypto asset activities and markets, including those associated with stablecoins and those conducted through so -called decentralized finance. As you heard from that, the paper was commissioned by the G20. Currently, the leadership of that organization is India and is set to be presented at a meeting of the G20 this weekend. The headline taken away by CoinDesk and many of the other crypto outlets out there is that the paper basically says that blanket crypto bans just will not work. According to the report, quote, imposing blanket bans that make all crypto activities, including trading and mining, illegal in one jurisdiction is not only expensive and technically challenging, but could also lead to activity migrating to other jurisdictions, creating spillover risks. This is, again, something that we know really intuitively. When you ban mining in one place, you're really just saying you're banning companies in your jurisdiction from mining. Now, this language echoes things that we've heard from the IMF before. In June, in a blog post about central bank digital currencies in Latin America and the Caribbean, the IMF wrote, Now, hold aside any cynicism. I do think the world would look a lot better if governments were recognizing why people wanted to get out of their monetary systems and try to address those issues. And yet I believe many of us here don't really think that that is a particularly plausible thing to happen. So what does this new report suggest instead of these blanket bans? Well, it says that the first line of defense against the macroeconomic and financial risks posed by crypto assets are robust macroeconomic policies, credible institutional frameworks and comprehensive regulation and oversight. That said, quote, Coinbase sums up the IMF and FSB say jurisdictions might consider targeted and temporary restrictions to manage some risk factors in stressful times or while countries find better internal fixes. The examples that the paper gave included targeted restrictions on privacy coins in places like Dubai, as well as a ban on Nigerian banks servicing crypto firms. Now, once again, as we've seen before, these international institutions are really concerned about stable coins. The paper says rapid capital flight or reversals could materialize if foreign currency denominated stable coins became easier and cheaper to hold in large quantities relative to foreign currency bank accounts. They say that global stable coins that are adopted by multiple jurisdictions, quote, may transmit volatility more abruptly than crypto assets and may cause significant risk to financial stability. So overall, there is nothing shocking or crazy new in this paper. Instead, I think it's a reflection of where the discourse is with these big international institutions right now. Grudgingly, they are accepting that crypto is here to stay and are recognizing that their time is probably better spent trying to help member governments figure out how to mitigate the worst risks rather than entertaining some fantasy of blocking it out entirely. Now, of course, as you heard, one of the ways in which they might look to do that, or at least one of the examples that was given, was targeted restrictions on things like privacy coins. Privacy in the crypto asset space has been particularly contentious, especially as global regulations and the fad of travel rule get more deeply implemented. And in general, the more that crypto comes into the Bank Secrecy Act sort of regulatory apparatus. Obviously, one of the things that we have talked about a huge amount on this show has been the tornado cash sanctions and then criminal accusations against the founders. And I think that that's part and parcel of this process of figuring out how crypto integrates with the larger system. On that front, a really interesting paper came out this week that was notable in part for who wrote it. One of the authors being Ethereum creator Vitalik Buterin, and for its exploration of this particular question, i .e. whether you can bring privacy to a protocol without it just becoming another tornado cash. The paper was titled Blockchain Privacy and Regulatory Compliance, Towards a Practical Equilibrium. Its authors include Vitalik Buterin, who I just mentioned, Jacob Ilham of Chainalysis, as well as supporting authors including Fabian Schar, and Matthias Nadler, as well as Amin Soleimani. It proposes a similar system to existing mixers like tornado cash, but that have built -in protections against money laundering. The proposed protocol would allow users to deposit funds to be mixed within a shared pool. Users could then withdraw funds to a fresh wallet, severing the link between wallets — in other words, basic mixer functionality to provide privacy to users. The twist is that the protocol would use zero -knowledge proofs to allow users to prove that their funds came from a particular set of deposits. By restricting the ability to deposit into these pools to users who can provide a known legal source of funds, the protocol can ensure that no illicit funds are mixed. The paper's abstract says that The paper goes on to explain that Now, the proposal builds on prior comments from Vitalik where he stated that tornado cash was a good privacy solution, but had limited options to disassociate between deposits from good actors and bad actors on the network. Vitalik's opinion is that the regulatory crackdowns on the illicit use of crypto networks are inevitable, and so the industry should be proactive in demonstrating that compliant privacy tools can be built. The paper argues that if the privacy -enhancing protocol enables its users to prove certain properties regarding the origin of their funds. Introducing the paper, Amin wrote, The importance of this paper is difficult to overstate. As crypto builds toward a world where financial intermediaries are optional, it is also our responsibility to engage regulators and implement new compliance tools designed for self -custody. So what were people's responses to this? Dragonfly managing partner Haseeb Qureshi says, They could still generate low -quality or stale whitelist proofs. Is that enough to satisfy the DOJ's bar for compliance? Note that tornado cash had a compliance tool that allowed any user to prove their chain of custody to a third party, such as to an exchange or law enforcement. They also blocked sanctioned addresses from the front end. Even when blocking OFAC -sanctioned addresses from the front end and implementing this ability for depositors to prove their provenance, the DOJ concluded that they were nevertheless liable for how tornado was being used by Lazarus Group. All that said, obviously there are other facts to the tornado case. And I'm not a lawyer, so this is not legal advice. And there are a lot of cool ideas in this paper. But I'm not sure this is going to be a sufficient improvement from the perspective of the DOJ. So basically Haseeb is saying lots of cool stuff in here. But if the question is whether the US government is cool with this, he remains skeptical. Interestingly, Austin Campbell responded and said, Now, another line of conversation is that this is way too much compromise when it comes to critical issues of privacy. Matt Corallo tweets, Now, Matt's post did a great job of pinpointing a key critique and getting people to respond to that. A lot of the discussion in the comments then becomes about what compromise people should be willing to take. Masari's Ryan Selkis responds, Scott Lewis writes, I think it makes more sense to go halfway first. The next best competitor is a CBDC run on one computer by the government. Isolating crypto too aggressively will leave the entire global citizenry in a much worse place. We have to be pragmatic if we want to win. Rainier Stiles Grant toes a middle line saying, Now, there is a ton to debate in here, and debate the community certainly has. Some questions are extremely political. Whether one thinks there should be any compromises in this area, or whether cypherpunks need to keep fighting for true privacy when it comes to transactions. Some are really excited and engaged that there are pragmatic solutions being offered by people from within the industry. Others are pointing out specific technical problems, and in some cases recommending different approaches. Ultimately, I find myself agreeing with Bill Hughes when he writes, However, that is going to do it for today's episode. I appreciate you guys listening as always. Until tomorrow, be safe and take care of each other.
Coronavirus
A highlight from ARK & 21Shares File Ethereum Spot ETF
"Welcome to your Ethereum news roundup, here's your latest for Wednesday September 6th, 2023. ARK Invest and 21 shares file for an Ethereum spot ETF, Vitalik Buterin co -authors a privacy paper, the Ethereum Foundation announces ERC4337 grant recipients, and Synthetix explores a multichain approach. All this and more starts right now. Vitalik Buterin, Jacob Bilom, Mathias Nader, Fabian Skar, and Amin Soleimani co -authored a research paper titled Blockchain Privacy and Regulatory Compliance Towards a Practical Equilibrium. The paper introduces a method for users to securely disassociate from illicit funds within a privacy pool, aiming to serve as a neutral resource for blockchain regulatory compliance globally. Privacy Pools, coined as the successor to Tornado Cash, is an open -source smart contract -based privacy tool. It employs zero -knowledge proofs to ensure that deposit and withdrawals remain unlinked. The tool offers customizable privacy sets enabling users to disassociate themselves from illicit addresses during withdrawals. The mechanism enhances privacy protection against malicious actors and allows users to demonstrate that their funds originate from legitimate deposits without having to disclose their entire transaction history. ARK Invest and 21 shares jointly filed an application with the U .S. Securities and Exchange Commission for a spot Ethereum exchange -traded fund. Coined as the ARK 21 shares Ethereum ETF, the fund would invest directly in Ethereum and custody funds with Coinbase custody. The ETFs would also trade on the CBOE BZX exchange. If approved, it would mark the first crypto spot ETF in the United States. The application comes after a U .S. District Court judge sided with Grayscale in a petition to review an application to convert GPT -C into a spot ETF. ARK Invest is an investment management firm by Cathie Wood and 21 shares is a provider of crypto exchange -traded products. In a new blog post, Synthetix founder Kane Warwick discussed the feasibility and necessity of deploying its derivatives protocol across multiple blockchains, starting with an experimental deployment on base. Synthetix is currently live on Ethereum and OP mainnet. Warwick also discussed the potential launch of a Synthetix app chain built on the OP stack, which would simplify governance. Liquidity fragmentation remains a top barrier for multi -chain deployments. Warwick suggested an initial deployment on base to experiment with demand for ETH collateral rather than the protocol's native as next token. Warwick emphasized adaptability and the need to gather data before any significant changes are made to the protocol. And lastly, the Ethereum Foundation announced the winners of its account abstraction grants program. A total of $300 ,000 was allocated to 18 grant recipients, which include Ambry Wallet, ZeroDev, Etherspot, Mina Wallet, and 6th Degree Lab. The program awarded builders who improve and strengthen account abstraction infrastructure on Ethereum. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io.
Ethereum Daily
A highlight from ARK & 21Shares File Ethereum Spot ETF
"Welcome to your Ethereum news roundup, here's your latest for Wednesday September 6th, 2023. ARK Invest and 21 shares file for an Ethereum spot ETF, Vitalik Buterin co -authors a privacy paper, the Ethereum Foundation announces ERC4337 grant recipients, and Synthetix explores a multichain approach. All this and more starts right now. Vitalik Buterin, Jacob Bilom, Mathias Nader, Fabian Skar, and Amin Soleimani co -authored a research paper titled Blockchain Privacy and Regulatory Compliance Towards a Practical Equilibrium. The paper introduces a method for users to securely disassociate from illicit funds within a privacy pool, aiming to serve as a neutral resource for blockchain regulatory compliance globally. Privacy Pools, coined as the successor to Tornado Cash, is an open -source smart contract -based privacy tool. It employs zero -knowledge proofs to ensure that deposit and withdrawals remain unlinked. The tool offers customizable privacy sets enabling users to disassociate themselves from illicit addresses during withdrawals. The mechanism enhances privacy protection against malicious actors and allows users to demonstrate that their funds originate from legitimate deposits without having to disclose their entire transaction history. ARK Invest and 21 shares jointly filed an application with the U .S. Securities and Exchange Commission for a spot Ethereum exchange -traded fund. Coined as the ARK 21 shares Ethereum ETF, the fund would invest directly in Ethereum and custody funds with Coinbase custody. The ETFs would also trade on the CBOE BZX exchange. If approved, it would mark the first crypto spot ETF in the United States. The application comes after a U .S. District Court judge sided with Grayscale in a petition to review an application to convert GPT -C into a spot ETF. ARK Invest is an investment management firm by Cathie Wood and 21 shares is a provider of crypto exchange -traded products. In a new blog post, Synthetix founder Kane Warwick discussed the feasibility and necessity of deploying its derivatives protocol across multiple blockchains, starting with an experimental deployment on base. Synthetix is currently live on Ethereum and OP mainnet. Warwick also discussed the potential launch of a Synthetix app chain built on the OP stack, which would simplify governance. Liquidity fragmentation remains a top barrier for multi -chain deployments. Warwick suggested an initial deployment on base to experiment with demand for ETH collateral rather than the protocol's native as next token. Warwick emphasized adaptability and the need to gather data before any significant changes are made to the protocol. And lastly, the Ethereum Foundation announced the winners of its account abstraction grants program. A total of $300 ,000 was allocated to 18 grant recipients, which include Ambry Wallet, ZeroDev, Etherspot, Mina Wallet, and 6th Degree Lab. The program awarded builders who improve and strengthen account abstraction infrastructure on Ethereum. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io.
The Bitcoin Podcast
A highlight from Flash Hash: 09/01/2023
"Let's bullshit and see who wins bullshitting. Splash Ash everybody, who's excited? I am excited. I can tell, the inflection really shows the excitement. I can't maintain my excitement. I'm extremely, extremely excited. Splash Ash. There it is. That's what I was waiting for. Oh, or did you whisper that or did your mic go up? Splash Ash. Can't hear that. Oh, I have a, I forgot I have the, I got a filter, so it's like blocking that out. I was whispering it way too quiet. I was like, is it going, is my mic going out? It's a beast of a filter. It's like no whispers around here. It's AI, baby. Okay. So you can't even be clapping. Oh, wow. That's a really good. You can't even do asthma if you want it to. Man. I can't even hear you drinking, doesn't it? Wow. I appreciate that. I really appreciate not being able to hear people like chewing or taking their drinks whenever they're about to meet. I didn't do that. I want that. I got dogs. I got children running around. Anyways, we got to show them real cool. Yeah, you do need that. We'll figure that out later. But now, Splash Ash, and it's been a minute. Since we've done one and we're back. So we'll do a little, little intros for the people that are new to hashing it out or Splash Ash. I'm Christian. I produce this. Wrangle these cats. Keep these guys in line while we try and take two minutes a piece. Yes, the claws maybe need to come out. Everyone's wanting, but we also have one. Is it doctor? Corey, Penny, was it? Give us, give us a little. I'm a doctor, but it's in something else. So you can use it if you want to. Not a medical doctor. Save a life. I'm a reality doctor because I know physics. I just made that up. It's an interesting term. Is that what you call it? I just made that up. I'm a doctor of time and space. I mean, if that's indeed what you are, you can make out whatever you want. You're like a Dr. Octopus kind of doctor? I guess based on what he did. My research puts me closer to that than him. Definitely, for sure. Okay, well, Dr. Octopus down there, why don't you introduce yourself? My name's Jesse Broke, and I do this podcast. Excellent, as always. That's it. So verbose, I love it. And the man with the silky voice in the red, sir? Yeah, I didn't get enough sleep, so my voice is not too silky. Anyways, my name's Fergalotty, AKA Black Sauce, AKA 007 .5. AKA Black Zordon, coming at you, reigning champion of Flash Ash. I believe one of them is in dispute, but I'm pretty sure that's gonna go my way. Let's do this. I like the confidence. Also, you go by D, if anyone was wondering. Oh, yeah, my name's D. What about Fergalotty? Did you mention that one? AKA Fergalotty, that's a big one. That's probably the longest standing one. Yep. You missed the important one. That's right. The actual name. Yeah, that's how you can find me on Twitter. So we have three different topics, two minutes a piece. Let's start with the topic that one Dr. Reality brought to the table. The subject is tornado cash founders charged with money laundering and sanctions violations. We got two minutes, starting with one Dr. Corey Petty. Your time starts now. Yeah, so the link that I gave was actually the Justice Department's announcement of them charging the tornado cash founders with sanctions and arresting one of them and breeding through it. And they arrested them on charges of committing money laundering. Mostly it's about facilitating the Lazarus Group in North Korea, but a lot of the charges are around committing money laundering, operating a money services business, and one other one, which I forgot what it is. It's around the same case. Yeah, conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money transmitting business. These people basically created tornado cash. There's probably some operational costs associated with doing that, and they promoted it. And now one of them's in jail for probably more than five years, or prison more than five years, depending on how things go there. Another one is, I guess, at large. And it's this concept of like, it's hard to get around this, and it scares a lot of people who make privacy technology. And I'm not sure how to make them feel good about it, because it is relatively scary. Like, I think privacy is mandatory, or allowing, or a lot of the human rights for humans to exist. Like a lot of people say privacy is a human right. I think privacy is a requirement for satisfying human rights, which is a bit different. And you don't have it in digital infrastructure, then you can't have digital human rights. 10 seconds. And it's gonna be real hard to do things like that when the United States is actively trying to shut it down. You read some of the articles on this, it makes it very clear that they have zero tolerance in terms of technology like this. All right. Very good on your time, as always. D, Fergalotti, whatever your alias is today. You're two minutes, there's no. Yeah, I mean, this article is, I guess we can just hash out, there's no real debate or side to take on this. It sets a pretty rough precedent, like if they're actually found guilty. And it's bad, it's like you can't build anything that preserves privacy without some government official wanting to lock you up and throw away the key. So it's kind of frightening. It's some of the allegations are kind of out there, but it seems like, like you said, they made tornado cash and then promoted, that was dangerously close to the tornado cash. They made tornado cash and they promoted it and now they're in trouble. And it's like, it's almost just like they made a tool and then made it, gave in the structure manual and now they're in trouble for that. So, and a lot of trouble, not a little bit. I think anything, one thing that's kind of cool is the money service business. Uncle Sam's admitting that crypto is money. So, let's get a golf clap for that one right there. But it's not good. It frightens someone like myself who works at an organization that is building privacy -preserving technology. It's kind of weird and dystopian that we can, that we'll probably accidentally say one day privacy as a service. It's like, what? What even is that? But it looks to be the way things are going. So, it's unfortunate for Mr. Roman Storm and Roman Semenov, Semenov, I hope I got that correct. You didn't. I didn't, Semenov. Anyways, not much to debate. I'm definitely on the side of the tornado cash team here because they're just building code and letting it ride. But we will see whenever the court cases come and whenever they're putting all this stuff on the record, we'll be able to see exactly what evidence there is, so. And time. How'd I hit? How much detail is left? You went a little bit over, but I wanna let you finish your sentence. So, yeah. Well, there might be Jesse time left. You never know. All right, Jesse, you have two minutes on the same topic starting now. All right, so just first off, I doubt the one billion that they're alleging is all criminal proceeds. They're just probably taking the number of the amount of transaction volume that went through tornado cash and then just saying that in totality is all criminal. So that's kind of bullshit. Also, the main issue here isn't KYC, AML, in my opinion. There's a history of US banks providing direct or indirect accounts for cartels for terrorist groups if you look at the history in the US, HSBC was and still is a well -connected global financial mainstay in international banking and they do provide methods for cartels, for terrorist groups, and also legitimate businesses. So the history of institutions like that and of a lot of these different things comes from trying to bank the unbanked. Originally, HSBC was created to facilitate Scottish traders who were trading an opium in Hong Kong and China didn't have a, I guess they, nor China had a method for really banking efficiently. And so, yeah, I mean, that's how that started and I think largely a lot of this can be solved with decentralized identity and letting people loosely affiliate their real identity with this parallel digital identity and then allowing people and building the infrastructure for people to pay taxes and use your knowledge as a way to just give the government the right amount of information that doesn't, that allows them to kind of preserve their privacy and give essentially Uncle Sam his cut.
The Mason Minute
Another Hurricane (MM #4543)
"The Minute Mason with Kevin Mason. My parents have lived in Florida for over 30 years now, and one of the many things I hate about them living in Florida is hurricanes. We dealt with hurricanes when we lived in Virginia Beach for me in high school and then later early in my radio career, so I know a thing or two about hurricanes. Probably not as much as my parents. They've lived on the Gulf Coast now for a long time, and I hate when I get the alerts. There's another hurricane in the Gulf because it could impact them. Looks like they're going to get a lot of rain with Hurricane Idalia. We'll see if they get lucky this time. They didn't last year. I know hurricane season is only supposed to last from June until November, but it seems like it's year round. I lose track. They've had so many hurricanes and so many severe hurricanes throughout the years on the Gulf Coast. But to make matters worse, my only aunt, she lives in Florida, as does her daughter and her family. And the only nephew on my family's side, he lives in Florida too. They live all over Florida, so I'm always tracking hurricanes. I wish I could encourage them all to move somewhere else, somewhere safe, but then again, most of them grew up in the Midwest. And if you don't have hurricanes, it's tornadoes. And I don't know which is worse.
The Mason Minute
Another Hurricane (MM #4543)
"The Minute Mason with Kevin Mason. My parents have lived in Florida for over 30 years now, and one of the many things I hate about them living in Florida is hurricanes. We dealt with hurricanes when we lived in Virginia Beach for me in high school and then later early in my radio career, so I know a thing or two about hurricanes. Probably not as much as my parents. They've lived on the Gulf Coast now for a long time, and I hate when I get the alerts. There's another hurricane in the Gulf because it could impact them. Looks like they're going to get a lot of rain with Hurricane Idalia. We'll see if they get lucky this time. They didn't last year. I know hurricane season is only supposed to last from June until November, but it seems like it's year round. I lose track. They've had so many hurricanes and so many severe hurricanes throughout the years on the Gulf Coast. But to make matters worse, my only aunt, she lives in Florida, as does her daughter and her family. And the only nephew on my family's side, he lives in Florida too. They live all over Florida, so I'm always tracking hurricanes. I wish I could encourage them all to move somewhere else, somewhere safe, but then again, most of them grew up in the Midwest. And if you don't have hurricanes, it's tornadoes. And I don't know which is worse.
The Mason Minute
Another Hurricane (MM #4543)
"The Minute Mason with Kevin Mason. My parents have lived in Florida for over 30 years now, and one of the many things I hate about them living in Florida is hurricanes. We dealt with hurricanes when we lived in Virginia Beach for me in high school and then later early in my radio career, so I know a thing or two about hurricanes. Probably not as much as my parents. They've lived on the Gulf Coast now for a long time, and I hate when I get the alerts. There's another hurricane in the Gulf because it could impact them. Looks like they're going to get a lot of rain with Hurricane Idalia. We'll see if they get lucky this time. They didn't last year. I know hurricane season is only supposed to last from June until November, but it seems like it's year round. I lose track. They've had so many hurricanes and so many severe hurricanes throughout the years on the Gulf Coast. But to make matters worse, my only aunt, she lives in Florida, as does her daughter and her family. And the only nephew on my family's side, he lives in Florida too. They live all over Florida, so I'm always tracking hurricanes. I wish I could encourage them all to move somewhere else, somewhere safe, but then again, most of them grew up in the Midwest. And if you don't have hurricanes, it's tornadoes. And I don't know which is worse.
The Mason Minute
Another Hurricane (MM #4543)
"The Minute Mason with Kevin Mason. My parents have lived in Florida for over 30 years now, and one of the many things I hate about them living in Florida is hurricanes. We dealt with hurricanes when we lived in Virginia Beach for me in high school and then later early in my radio career, so I know a thing or two about hurricanes. Probably not as much as my parents. They've lived on the Gulf Coast now for a long time, and I hate when I get the alerts. There's another hurricane in the Gulf because it could impact them. Looks like they're going to get a lot of rain with Hurricane Idalia. We'll see if they get lucky this time. They didn't last year. I know hurricane season is only supposed to last from June until November, but it seems like it's year round. I lose track. They've had so many hurricanes and so many severe hurricanes throughout the years on the Gulf Coast. But to make matters worse, my only aunt, she lives in Florida, as does her daughter and her family. And the only nephew on my family's side, he lives in Florida too. They live all over Florida, so I'm always tracking hurricanes. I wish I could encourage them all to move somewhere else, somewhere safe, but then again, most of them grew up in the Midwest. And if you don't have hurricanes, it's tornadoes. And I don't know which is worse.
WGN Radio
"tornado tornado" Discussed on WGN Radio
"Disappointment of duet. 8000 triathletes. Waves about six feet high The swim forced portion race of operators the 40th to Chicago change triathlon course was to canceled the after the National Weather Service warned of life threatening swimming conditions instead of swim, bike, 44 states and 23 countries competed in the race. Kind of a dubious honor. Illinois Illinois has has reported had 132 more tornadoes tornadoes so far this according year to than the National any Weather other Service. state. So That's far far this and year, away Illinois the most tornadoes tornadoes in in a any typical single year. state. The The state second record most is state 144 has only 90. and that happened Illinois in 2006. averages just 54 Most of the tornadoes this year have touched down in the central part of the state, but northern Illinois is seeing an increase too. Ron Brown That's WGN according to news. Dr. Kevin Most. An updated COVID He's chief -19 medical booster officer shot at is Central expected DuPage to arrive He talked with WGN's Dean Richards this morning. The XBB strain is still the predominant strain here and that's what why the booster shot will be released the in vaccine mid September. is going to be Health professionals designed are recommending to attack that here people get in the just booster a couple weeks. when it becomes It's expected to be the second largest virus death available. of the year. Meanwhile, A man in his 90s. the Illinois Department of For most Public people Health the has virus reported isn't the first that West serious. Nile virus Some people don't even know if they have it. Illinois Chief Medical Officer Dr. Artie Burns. A small person that actually will enrails actually move your on nervous to system having or what your we nerves, call neuro your brain and invasive that can disease be or far disease more that deadly. for the virus so About 10 far % this of year. those will not The make guns it. used in 11 that people deadly have shooting tested yesterday positive at a Jacksonville Florida Dollar General store were all bought legally. Police say the 21 year % of -old Biden white contend gunman killed condemned three people the in attack a racially today motivated as a potential hate crime and the FBI is investigating the shooting. WGN Swartstein coming up on home. 11 .05 The White the Sox cuts beat beat the the Pirates A's in six a to big way one on and the road on today the west a coast final score tonight there Olympic at 10 to 1 at star Simone it's Biles going to be a won her just about record picture eighth -perfect U evening .S. and it will stay championship. that way overnight under clear
Northwest Newsradio
"tornado tornado" Discussed on Northwest Newsradio
"And left hundreds of thousands of customers with no power in the south. Isolated tornadoes, tornadoes, large hail and damaging winds are possible overnight in states like Arkansas, Louisiana, Mississippi, Alabama and Florida. Secretary of State Antony Blinken has met with China's leader, President Xi Jinping of China, sitting down Secretary with of State Antony Blinken in Beijing. The meeting not confirmed until just an hour before it happened. two The men meeting for about 35 minutes. She's saying that through this visit, he hoped Blinken could, quote, make more positive contributions to stabilizing China -U .S. relations. I stress that direct engagement and sustained communication at senior levels is the best way to responsibly manage our differences and ensure that competition does not veer into conflict. This meeting the culmination of a whirlwind 36 hours for Blinken, which featured more than 10 hours of talks with China's Foreign Minister Ching Gung and top diplomat Wang Yi. Major flashpoints in the relationship have erupted in recent months, in particular U policy .S. toward Taiwan angering China. A Chinese warship coming within 150 yards of a U S. destroyer this month as it sailed in international waters through the Taiwan Strait, a move China evocative. And in the skies above a Chinese fighter jet buzzing a U .S. plane in a move the Pentagon called dangerous and unnecessary. The U .S. frustrated by China's role in the fentanyl crisis, the war in Ukraine and cyber espionage, while China accusing the U .S. of trying to contain its rise both militarily and academically. And even this Beijing trip was supposed to happen back in February before being postponed after a Chinese spy balloon showed up in U S airspace. Neither country expecting any diplomatic breakthroughs from meetings, these aiming instead to just reopen senior level communications that had faltered lately. President Biden hoping for a reset, hoping that over the next several months. Again, talking about legitimate differences we have, but also areas we can get along. That's ABC's Matt Rivers with the story. A war of words regarding Patriot missile systems in Ukraine. We get more on this from ABC's Tom Rivers at the foreign desk. As they say, the first casualty of war is the truth. President Putin claims five Patriot batteries have been destroyed near Kiev. Meanwhile, in the Ukrainian capital, President Trotsky counters, no matter who in Russia says that, the Patriots are still lurking. Not a single one, he says, has been destroyed. We'll learn where the definitive truth lies in the next few weeks. Tom Rivers, ABC News at the foreign desk. Republican presidential candidate Nikki Haley's husband is deploying into eastern Africa with the South Carolina Army National Guard. Haley, the former South Carolina governor and ambassador to the UN Saturday called it a difficult yet moment of pride. Michael Haley will remain through the spring of next year. That will coincide, of course, with the GOP primary The sentencing phase in the Tree of Life synagogue shooting trial in Pittsburgh begins one week from today. The jury handed down guilty verdicts on all 63 charges Friday in a Pittsburgh courtroom. In the first part of the sentencing phase, the jury will consider aggravating circumstances to determine if the defendant is eligible for the death penalty. Aggravating circumstances include the atrocity of the crime and the number of victims. It's 5 19 and let's get to your money. I'm Jim chesco with your money. Now, an overwhelming majority of American adults, just over three quarters of those surveyed, say they're not confident their Children's lives will be better than their own. The Wall Street Journal National Opinion Research Center survey also found four in five respondents describing the state of the economy as not so good or poor and nearly half said they expect it will get worse in the next year. There's also growing skepticism about the value of a college degree. If you need to take your car in for a fix, well, the work could take longer than ever due to a nationwide shortage of auto mechanics. Experienced mechanics are retiring increasing at an rate, posing a challenge for shops attempting to fill vacant positions, according to the National Automobile Dealer Association, around seventy six thousand auto mechanic positions open up every year compared to just 39000 workers coming out of technical colleges or training programs. The markets are closed for the holiday today. That's your money now. Summer movie clubhouse is returning to Cinemark theaters. Families across the country can see movies for one dollar fifty cents starting later this week. Parents will also be able to on save money any size popcorn, drinks and kids snack packs. The deal is being offered in thirty five states and it runs through August the 10th. Speaking of movies, there's a new number one at the box office. If I can't get back. There may not be a future. The The flash got off to a less than flash. He started the box office earning an estimated fifty five point one million dollars over the weekend. Good enough to take first, but well below the expected more than seventy million dollar opening. And Wes Asteroid City is notching the strongest limited release opening weekend in years. Come get the girls. I have to stay here with Woodrow. Another show
WTOP
"tornado tornado" Discussed on WTOP
"I'm Sean Anderson, Mike chicas is our producer. CBS News special report, we are following the latest out of Arkansas right now where tornadoes have touched down injuring hundreds in Little Rock. This man lives there. Tornado sounds like a train coming so that's what I heard. I was kind of looked out the window. So kind of like a swirling motion of the winds and everything, so by the end I was like, okay, it's kind of here. He took cover in his bathroom, and western Kentucky's bracing for similar weather now. Governor Andy Bashir. The words that the meteorologists used is that it was probable that we would see long track violent tornadoes. Tornado watches are in effect for several states from Iowa down to Louisiana, and this all comes as President Biden towards tornado damage in Mississippi. I authorize the federal government to cover 100% of the cost for removing debris and emergency measures that are about keeping up here. By keeping shelters up and running and paying for overtime for everyone. Last week's storms killed 21 people in Mississippi and at least one person in Alabama. CBS News special report, I'm Monica ricks. We'll have some intense and potentially damaging weather tomorrow. High wind warning in effect for areas west of the blue ridge mountains and elsewhere, let's listen to WTO meteorologist Mike's dinner. Saturday afternoon, we're going to start to see whiz gusting to 40 to 50 miles an hour, and after about 3 o'clock we may see wind goes to over 60 miles narrative around 9 o'clock in the evening. And also there's a risk of a squall line late Saturday afternoon of this develops, we could see some areas with wind gusts of up to 70 miles an hour, and that could bring out a good deal of wind damage across the region. Let me clarify the entire metro area is under that wind warning for tomorrow. As always, keep it here on WTO for traffic and weather on the 8s. Now on to what's going on with the indictment of former president Trump, he is expected to surrender and face arraignment in New York on Tuesday. Meantime, security
WTOP
"tornado tornado" Discussed on WTOP
"A rally in support of the indictment outside Trump Tower, a jury of people, just like you and me, said there's enough evidence here to indict Trump and to me that says our democracy is working. The theme of the demonstration, no one is above the law. I don't care how wealthy how powerful how famous somebody is. If there is evidence that they committed a crime, that evidence should be investigated. And if their evidence holds up, they should be charged. Mary Rubin, CBS News, New York. President Biden is in Mississippi now checking out damage from an EF four tornado that killed 21 people last week. Leaders say it could take years to rebuild. And now what's your Kentucky's bracing for similar weather? Governor Andy beshear. The words that the meteorologists used is that it was probable that we would see long track violent tornadoes. Tornado watches are also in effect for several states from northern Iowa to Louisiana. The Vatican now confirms and Pope Francis will be discharged tomorrow from a hospital in Rome where he's been getting treated for bronchitis. The 86 year old is expected to lead palm Sunday services on Sunday. Minneapolis is revamping policing. The agreement between the Minneapolis city council and the state comes three years after the murder of George Floyd. Mayor Jacob Frey praises the deal. This agreement helps to ensure that the policy itself meets the road. It meets the ground that neighbors and officers alike feel that change. The changes follow a highly critical report that stated the Minneapolis police department engaged in a pattern of racial discrimination, and that that pattern was not new when George Floyd was killed. Instead, it had been in practice for more than a decade. Linda canyon, CBS News. The
HASHR8
"tornado tornado" Discussed on HASHR8
"We will probably want to keep them some sort of underneath those numbers around those numbers. But the ability to move into communities and from a workforce point of view from a value proposition point of view, that that's what we're seeing is kind of all of our sites really are in smaller communities in Georgia for the most part. And with that, you know, comes walking in the front door, educating a community, bringing value to the community. You know, Washington in particular is a small town, most of the industry has moved out. And we're now a significant employer. We're also, I believe, one of the largest revenue generators for that city. They are the utility provider through the municipal energy authority of Georgia. And as part of that, it's really meaningful. And so it creates a great way to collaborate. And not being too big or too small for these communities matters. But again, if something happens, right? Heaven forbid, but let's just think about how the world works sometimes as you get a tornado. Tornado rolls through, if it rolled through and it wrecked one of our sites, we would have multiple other sites to go to. And that's how we're going to pursue our strategy always going forward is we're going to have multiple sites so that if anything catastrophic happens or if a substation goes down for two months for some unknown reason, it's not going to kill the whole operation. And that's something that a traditional data center thinks about. They think about it and redundancies. You know, they have two substations from different places coming in as Bitcoin miners were using so much power that that's really not economically feasible to have these redundant lines coming from different places. So you usually end up with a single source feeding a site. So the way to protect in redundancies is to have different geographic locations.
Bloomberg Radio New York
"tornado tornado" Discussed on Bloomberg Radio New York
"Of blockchain technologies than in traditional finance stacks. And I think it's pretty clear we've entered more of an uncertain market for crypto compared to 2021. But I think the long-term thesis hasn't really changed to anything it's gotten stronger. But in terms of price, I think it's a really interesting way to see it. John, but in terms of price, after the Internet bubble, I remember a buddy of mine who said, you know, you could pry the Amazon shares out of his cold dead hands. And that was a great investment to hold on to. But the rest of the NASDAQ took 15 years to come back to the highs that we saw in 2000. Do you think we're looking at such a long slog for Bitcoin to get back to 65? I think it's very hard to predict the future, but I personally would kind of doubt it. I think the iteration cycles into space are much faster. And I think the other thing is that there are still a lot of untapped use cases where I think there will be a future where blockchain can replace many of the basic building blocks of the financial system. I think in order to get there, there needs to be much more infrastructure much more compliance where applications around identity reputation to make it palatable for traditional financial institutions to really enter the space used blockchain technology as well as build on top of blockchain technology. But that turning point that we can see very quickly. And if that happens, I think we can all agree there's a large amount of value that hasn't entered the space yet. I just want to pause to attribute that quote because it's one of my favorites. Niels Bohr, the Danish physicist, said it's difficult to make predictions, especially about the future. Which is I think that's good. It's one of those genius quotes that I love it and Howard marks says that all the time and so, I mean, so I guess John what do you look at to get a sense of the health of the crypto space? I mean, a neophyte and a layperson like me, I just look at Bitcoin, you know? And when we do have a CRP function on the Bloomberg terminal, it has a lot of the coins and stuff like that. But how do you, what do you look at to get an overall sense of the health of the development of the crypto space? Yeah, absolutely. I think Durham metrics that folks generally don't look at when they look to kind of cage the development of the blockchain space. I think token and coin prices are always a focus. But I mean, again, I think that almost missed this kind of the mark when you were looking at the developing technology and developing ecosystem like blockchain. I think rather would be more interesting to look at is the number of applications and the number of folks using kind of real use cases. The amount of money entering from traditional financial institutions. And the law of these metrics, blockchain continues to kind of grow for their recurring year over year. And I think ultimately, if you think about the value of the tokens and the coins and the ecosystem as a whole, as tied to how useful this to focus in their everyday lives, I think what you're going to see is that the metrics that really matter are what's being built on and who is using it. So, I mean, are you surprised that traditional financial firms traditional financial CEOs, voices like a JPMorgan, Jamie Dimon? Are you surprised the financial Main Street Wall Street hasn't become more engaged in blockchain and crypto? It just doesn't feel like you're engaged. I think we speak with a number of large financial institutions on this exact topic. And I think the common theme is that there is a ton of interest in becoming engaged, but the space is clearly early and I think the products in the space are clearly still early as well. And I think what we're seeing is greater for what's called compliance aware applications that these guys can actually participate in. I think we're seeing compliance that we're products really will be the major driving force behind blockchain growth in kind of the coming years. And today, banks and large financial institutions are still hesitant to play in the space because of some of the thorny regulatory issues around our applications and coins and tokens into space. Just this week, we saw the US Treasury sanctioned blockchain application called tornado tornado cash is what's called a mixer pool, which really obscures the source of funds and transaction. And if you think about it, on one hand, that could be a way for legitimate traders and users of crypto to protect your own privacy, but because there aren't fundamental compliance regimes and tools in place like know your customer or your laundering controls. It could also be used by bad actors to hide the source of stolen funds, for instance. And so as we look forward to what's being built in blockchain space, a compliance aware version of many of the things that's being built in blockchain with create value
550 KFYI
"tornado tornado" Discussed on 550 KFYI
"Congress know from their colleagues in Congress that, uh, you know the looks like a tornado. They don't call them that anymore that hit the crops and and wetlands and The middle of the country and in Iowa and Nevada, and I mean it's just across the board. And You know, As I said, we're in this together and Wow. They don't call tornadoes tornadoes anymore. What do they call them? And since when do we get the wetlands in Iowa? And, uh and, uh, Nevada. We're all in this together. Joe Biden rambling on forgetting stuff. Tornadoes. We don't call tornadoes anymore. Not knowing where wetlands are. Just just just, you know, old Joe. But that wasn't it. Our runner up. Is Alexandria Ocasio Cortez, who, in a fit of bumbling rage against Texas and their new heartbeat law went on CNN to to school, Anderson Cooper. And the rest of America about the menstrual cycles. Of men. None of this is about supporting life. What this is about is controlling women's bodies and controlling people who are not CIS gender men. This is about making sure that someone like me as a woman, or any menstruating person in this country cannot make decisions over their own body. Okay? She almost lost me at the CIS gender thing in there, but administrating people. Why can't you just say women, women or administrating people? I guess men now. Are able to demonstrate. So I mean, the men also are able to you know, uh Have a baby and therefore is their voice now accepted in the whole abortion argument. I don't know. I just know that AOC Is a very dumb person, and that was asked Battery, but but but but They did not get her. The crown this week. No The conservative circus clown of the Week board once again. Goes to Joe Biden, who last night Purposefully divided America and actually said something that no American president has ever said before. This is not about freedom, her personal choice. It's about protecting yourself and those around you. It's not about freedom. Or personal choice. It's about safety and protecting the people around you. For being An anti American president. For setting the precedence. Of once again having a government divide US separated, segregate us on a new guideline vaccinations. President. Joe Biden. Is the conservative circus clown of the week. Brought to you by Tombstone Tactical. It is. Amazing. But we are watching. In our government right now, from the gain of function story that has been completely buried. Now. That's Dr Fauci being caught in the fact that yes, he did. His organization did fun illegal research in China in a lab in Wuhan, China that resulted in the release of Covid 19, whether as a bio weapon or an accident. There's blood. On Dr Fauci's hand, and he got a complete passed by it in this speech last night was so egregious. That the media just might be able to bury the whole thing. You had Jen Psaki. Press secretary secretary for the White House actually come out and defend. Dr Fauci is lying from.
News Radio 920 AM
"tornado tornado" Discussed on News Radio 920 AM
"I'll come back, Turn it over the counter Good friend and national correspondent Rory O. Neal joins us. Going to talk about Joe Biden's, uh, shall we say approval rating. Sorry about that. Sorry about that. Joe Biden's approval rating. Uh, here he is. Aforementioned National correspondent Rory O Neill. How are you, sir? I'm doing Well, Jim. Good morning. So Joe was in, uh, Jersey yesterday. And he got, uh, He got a few of Jersey worries. Yeah, he got some raspberries. I mean, some of these people. Booing him were actual bona fide trump supporters. But then now he got some spontaneous booze, and he seemed to get a little sensitive about it. Well, yeah. You know, some of it. A lot of the shouts were about his policy in Afghanistan in the patrol, and how that all went down the drain. Um, uh, but, yeah, it was not a great warm welcome all around for the president. But, you know, he also spun this politically very fast. I mean, maybe he barely done hugging a child at the site of Erect home and it's a Give it to climate change and how we need to spend $5.5 Trillion on infrastructure. Yeah, As a matter of fact, Nancy Pelosi is going to be in Worcester tomorrow. I mean, the finally the local rag confirmed what we have been saying, and she's going to be with Jim McGovern. And they're going to be at Rainbow Child Development Center kind of a place that does a nonprofit that does, you know, daycare and pre K and things like that, And she's going to be there saying, you know, there'll be more money here for this place and you'll be able to come here if we pass the $3.5 Trillion. Whatever plan affiliation. Whatever we're calling out, Yeah, Whatever. We're calling it now, That's what she was saying. Actually, women. She's calling it now. The American rescue plan for Children, families, rituals and their families. The other rescue before. Yeah, whatever, but you're right about $5 Trillion. He did pivot to that yesterday and he did try to talk about climate change quite a bit. Don't know if the message coming out of that. Was Was good for the president. Do you think yesterday helped hurt his numbers or no change? Don't change, you know, because look, he was surrounded by every Democrat in the book, Right? Call your destruction. Chuck Schumer, Senator Gillibrand. I mean, they were all there. You know it just surrounded by democrats. So it was a bit of an echo chamber going going around. But it made stops in Queens and down in New Jersey. And you know, he got at the same talking. Look, if he didn't visit, he'd get yelled at right. You know, he'd be criticized for ignoring the plight of the people more than 50. People died or in the northeastern in Louisiana, so he had to go. But you know, he really did not waste any time in making this about the infrastructure packages. Yeah, here. We are determined that we are going to deal with climate change and and have zero emissions. Net emissions by 2050 by 2020 Make sure all our electricity is zero. Did you hear that? And by 2020 Make sure our electricity is Yeah. Look, he's got a time machine. He may want to go back to July, Okay? He doesn't have to go back. I I know. Uh we're going to have zero emissions for producing electricity by 2020. Alright? You really should. Yeah, well, it was either that or they don't call tornadoes, tornadoes anymore. That was another good one from yesterday. Not not not helping the cause. Well, then you think he does best when he does individual sit downs, right. He doesn't do well at a press conference, and he doesn't do well with red speeches. But when he sat down with Stephanopoulos It was pretty good, right? Well, except for when he said, respectfully suggest you ask yourself this question present attacked on September 11th 2000 and one from Yemen instead of Afghanistan. Would we have ever gone to war in Afghanistan? Well, that one wasn't from Stephanopoulos. That was two days. Yeah, the same idea. Same idea. Yeah, I think so. He's like If I'm his press people I sit him down with friendly reporters Want I want like, Find the NBC affiliate reporter in New York City. Put him in a room together for 10 minutes and take No, no, that's good. I think you get better play because because you get that folksy charm across and that's where he is. And there's no fact checking going on immediately by the local reporter, right. Uh and you know, so yeah, I think that's where he's better off. Is that why he gets the list? And he says, I've been directed to call they all get. Look, They've been doing the list since George W. The list ticks me off the list is there because they only take three questions and they want to get one for everybody. I said, Yeah, that's why they have the list is so that everybody gets a turn eventually, but yeah, George W started that list. I hate the list. Yeah. I don't like the list either. Trump didn't use the list. He would stand out there is no no, no, no, no, no, no, no, no, no, no, no, no. What? He did a press conference to use the list now when he did plenty of helicopter talks. Don't get you. I mean, he was available. Plenty of type but a formal press conference. Use the list. Okay, so outside of that. How many times has Joe Biden stepped out of the White House and said, Go ahead, Ask me any question. Yeah, He got one yesterday and sort of just what about Manchin in the 3.5 Billion and he said here it is. Here it is. No at the end is always been there. He's always been with me. I think we can work something out. I look forward to speaking with them. Yeah. Good luck with all that good.
710 WOR
"tornado tornado" Discussed on 710 WOR
"Role in regarding engaged in some of these gang members, extracting them out of these gangs, making sure we give them the resources to leave that gang life behind them. Definitely progress being made. So we went from 241 shootings in August of 2020 to 167 last month. In the previous August before the pandemic, there were only 91 shootings just days before the 20th anniversary of the 9 11 attacks. Two more victims have been identified. Dorothy Morgan from Hempstead, was identified through DNA analysis. He was just 47 years old. There was also a man who was identified not publicly identified at the request of his family. The pretrial hearing continues today for 9 11 mastermind Khalid Sheikh Mohammed. Judge Gitmo deciding what evidence could be admitted after trial and as President Biden know what year it is. You got a little confused speaking about climate change? Yep. Oh, well, you weren't going to play them live here. Did he give the Jewish number? What do they do? Well, let's let's listen going to deal with climate change and and have zero emissions. Net emissions by 2050 by 2020 Make sure all our electricity is zero emissions. Okay? Yeah, by 2020 has come and gone. I don't. He probably thinks he's in another galaxy. But jeez, this is your guy. Are you kidding me? There's another one for you. And I know that you don't want to play this one either Sell. I've got it. You got another awkward moment. Senator Chuck Schumer was pointing to a young kid standing on an elevated deck nearby. And here's your president you how? What's the matter and don't jump? Oh, yeah, That's good advice. Why would the president tell a young kid don't jump even as a joke? Just a little humor. God, you have no sense. You people on the right. Just don't have a sense of humor. You can have to lighten up a little bit, Joey. Okay. What other thing here, Uh, did you know we don't call tornadoes tornadoes anymore? I did not know that. Well, I don't know what the president says. We don't call them tornadoes. Here's Here's his quote. Members of Congress know from their colleagues in Congress that you know the looks like a tornado. They don't call them that anymore. That's the president, you know you got..
860AM The Answer
"tornado tornado" Discussed on 860AM The Answer
"House? Do it now. All right, Do not wait around. Don't wait around. I want to warn you as well. Do not miss next week. We are going to have cry macho in theaters from Clint Eastwood. He's the director. He's the star. He is talking about how to grow old through a series of movies and cry macho. He plays a broken down old horse breeder and tough guy washed up. Drunk has to go rescue a kid who has fallen into the wrong hand in Mexico. And it's not unlike the mule, not unlike Grand Torino Clini So it keeps making movies and cry macho. Just going to be a terrific one. Do not do not miss that when it comes to theaters. He talks about how to get old the right way. Here's how not to get old Joe Biden talking about tornadoes yesterday. What cut is that? The tornado cut. Would you just need to cut number seven? You know, the members of Congress know from their colleagues in Congress that, uh, you know, the looks like a tornado. They don't call them that anymore that hit the crops in and wetlands in the middle of the country and in Iowa and Nevada, and I mean it's just across the board and, uh, you know, uh, I said, we're in this together, and, uh, I think he meant to Rachel, right? That what he meant? It's not a tornado. By the way, they're different. But we still call tornadoes, Tornadoes in Ohio. Anyone who's ever been near a tornado. And to my Stanislaw friends are out there. My my old friend, the late Dr Jerry Stanislaw. I ended up upside down in his car on route 4, 22 and war and after a tornado, uh Not seriously injured at that point, great, great man. Whole family, great family, but Jerry ended up upside down. Tornadoes are not there a chose but President show is a little slow. Because he's in firm. And that's why I'm not even sure he's lying to you when he says the Americans are out. He may not know Tony Blinken nose, and Chuck Schumer knows they're just lying to the Americans are not out when.
AM 970 The Answer
"tornado tornado" Discussed on AM 970 The Answer
"Debbie do Hames got the answer? Now let's see what's happening here on the cross broads eastbound at the Sheraton. It's an accident, a car and a truck collided altered its side parking role suspended for Russia. Shana Meter parking rules in effect of Arizona Bridge lower level into Brooklyn. We're getting reports of a car fire there. 80 East exit 35 an accident on the shoulder with the emergency activity at the scene. Expect delays as well on the New England here way South Bend it to 87 in Port Chester with ongoing construction. You now know where not to go? I'm Debbie. Do him with Joe Piscopo. Am 9 70 the answer. Hey, Joe on the radio. No, I'm watching this. Yeah, I got it. I'm going to tell you about relief act in a second. I'm watching the news trying to keep up on this and see things online that this guy does. Joe Biden does. And now he says, you don't call tornadoes tornadoes anymore. Then where does what is that? What is that? What is he thinking? We'll get into it. We'll get into it all. We got a lot to do. Leader Brad Nick's going to join us. 7 42 Let me tell you about relief factor because for 1995 still, you can order the three week quick start and just to see if it works for you. For me. It's been miraculous. I will tell you straight up. It's a I've been 100% pain free when I started taking relief factor. When I tell you all the things I'm doing, and I was thinking about I was thinking about when I was playing the drums at one point I remember And this was before I started taking relief factor. And when you do the right symbol and not to get technical, but you know you're my for you. If you're writing right hand is out extended on the symbol to keep the rhythm going with the right and I can remember my bicep attendant really hurting and I remember when people are watching and I'm doing a solo. And I'm in pain. I'm in pain. I start taking relief factor, and I don't want to jinx it. Please. And I say it by by the grace of God Almighty. The pain is gone. I'm cranking it out. I'm doing switching one symbol to the other now doing cross hits and everything else. By the grace of God, really, and not to take event. But if it's going to work for me, I would respectfully submit that it will work for you. And in 1995, What do you got to lose? Nothing As we say. In Jersey, the tree we quick start you get if you can call 805 183 84 or 880,583 84 you know you want to get out of pain relief factor dot com or call.
WMAL 630AM
"tornado tornado" Discussed on WMAL 630AM
"I hosted. We like giving self hosted 56 heads of state in Washington, and I pointed out, we're talking about climate change, and I said, I think of one word when I think of climate change jobs, good paying job. Each of these things requires a good paying job, not $7, or 12 or 15. But 45 $50 an hour plus health care that's what is needed. Now, I'm just curious if Biden also said when he thinks of that one word job, So why didn't you spell it out for us? You know, it's his favorite. Three letter words, Barack says a three letter word jobs. J. O. B S jobs, three letter word, their jobs. That's Joe Biden yesterday, talking about basically saying, You know these this hurricane that came through here? That's all about climate change clearly. And therefore we need. Yeah. But then he sort of reveals that sort of saying the quiet part out loud that this is really just a gift to unions and gift of their their buddies. When we talk climate change where we were talking about. This is a jobs program. It doesn't even make sense. I mean, the idea that we can fundamentally change our entire energy economy and that the only thing that's going to happen is that people who would normally work in in coal or power plants as federal are just going to be able to simply transition over to these green energy positions is so naive. Or learn to code. It's It's so naive. It's not based. In reality, there would be a huge disruption to people who work in these sectors and would be really damaging to their ability to support themselves and their families. He's also sort of revealing number one, not only revealing that this whole green energy push is not really about science. It's about jobs. That's only the first thing I think of his jobs. He also is revealing that this so called human infrastructure thing. $3.5 trillion is really the green energy plan. The green Energy green deal. The new the new green deal that Alexandra Ocasio Cortez had been pushing. They keep denying that no, no, no, That's not the case. That's not the case, but you've got to pass this to beat climate change. Okay, well, so it is. It is the new green deal, but I hate to correct you on the air. Amber. This is so embarrassing, and I apologize. But you just said, you know that that in the future when we convert our energy to all clean burning energy No, No, no. President Biden yesterday told us that we've already done it. It's already accomplished. We are determined that we are going to deal with climate change and and have zero emissions. Net emissions by 2050. By 2020 make sure all our electricity is zero emissions. Well, that's great news. All our energy zero emissions by 2020. I'm happy to be corrected. If that's really true that somebody has to break it to the president that it's 2021. He literally has forgotten what year it is. He's also forgotten the word tornadoes or something. You know the looks like a tornado. They don't call them that anymore that hit the crops and in wetlands in the middle of the country, and They don't call tornadoes tornadoes anymore. I'm pretty sure we still call tornadoes, Tornadoes. Still Is that like a Gen Z thing? I don't know if I'm going to have to consult tiktok for this. It took quite a bit of clarification. You know the looks like a tornado. They don't call them that anymore that hit the crops and and wetlands, And apparently, he was searching for the word Doroshow. During the show they the tornadoes, but we don't call them one wonder we still call tornadoes, tornadoes. He was thinking of a different kind of weather system called direct show. I've never heard of a direct show before we had a band to Rachel, Come through here in 2010. I think it was wasn't remember. They're really devastating to ratio that took down all right, well, anyway. Also Chuck Schumer pointed out a kid who was like waving to him up there and he was in New York. And he did one of his typical kid with the American..
WBZ NewsRadio 1030
"tornado tornado" Discussed on WBZ NewsRadio 1030
"With more on the tornadoes, and, of course, our meteorologist Bob Larson. No rest for the weary Bob. Let's run it down. It's right for the moment. No warnings in effect, which is certainly a good thing, But we continue to watch showers and thunderstorms. Newly developed storms right down from Lancaster to Lannister and then northwestward to Fitchburg had to keep an eye on that see if any warnings are issued. The other storms have prompted the warnings from earlier this afternoon, they have lifted to the North. And now I'm moving across southern New Hampshire a little bit closer to Boston still reigned free, and that's certainly a good thing. But conditions still favorable for the possible development. US to be a thunder Sarge this afternoon and as we well know, and have already witnessed any severe store that does develop can spin up a tornado at the very least, funnel clatter, too. So that's something to watch for, as we look farther to the West. From Western and west of there, just a steady soaking rain, some of it heavy enough for flash flooding. That's more directly associated with Andre, which is moving slowly eastward and that's steady. Heavier rain is going to move into our own area here. Directly tonight and once it does, so we're going to have to up the concern for flash flooding. Once again, as we go through the night could be an inch or more of new rainfall as this moves through, But as and removes all short tomorrow morning, it'll take the rain. With it conditions, Wolf finally began to improve. Laurie Right, Bob. Let's get right to WBC's Nicole Davis, who has been joining me. You have new information on this tornado confirmation of a tornado. Yes. From the National Weather Service. Have it right here. They just put out their preliminary report and I'm reading directly from the report here. They're calling this an e f zero tornado. So what is an EF zero? You might ask. This is a weak tornado 65 to 85 Miles an hour in a week is relative. I guess This is a tornado we're talking about, But they say this did indeed touched down. This is in Marlborough reading again, right? Off the report right around 11 40 this morning 65 Mile an hour winds. It was on the ground for not even a mile about three quarters of a mile. And they say this happened just west of I 4 95, right by the Marlboro Water Treatment Center went over a business park and travel northwest before dissipating just north of Cedar Hill Street. So we did have a tornado on the ground today. Lori in Marlborough, right by the water treatment planted Again not the strongest tornado, but a tornado tornado nonetheless, let's hope it wasn't swirling up Some of the things they were treating. Yes, indeed. Thank you. Laurie. Nicole Davis. Thank you. It is 2 38. Andrew. Oh, day you are brought to us by Enterprise.
The Stuttering John Podcast
"tornado tornado" Discussed on The Stuttering John Podcast
"In that argument, they don't want to do it because in like, they view it life, NGO corn, right? Or, you know, are GMO corn, rather not NGO GMO corn. You know that it's somehow, it's a scientist made and it's gotten a toxic. You know what I mean? Nature nature gives us things that are good for us. You know, like psilocybin mushrooms and poison oak and and snake venom and salt, water, and lava, you know, everything nature makes is good for the body, you know, tree sap, you know, bee stings. There's so much nature song. It's everything. You could possibly need to eat. That's good for your body, like cyanide Mercury, you know, nature provides us with uranium nature makes uranium. That's so we beat, that's what I need. Don't don't get the vaccine, just go to New Mexico and dig up a chunk of uranium and lick it and all your problems will go away. Cuz that's the nature natural. You know, like you know what, I use to cure my covet is a good tornado tornadoes are all natural. They occur naturally and if you can get as close to one as possible, you don't even worry about your covid-19 more, like your it takes your breath away before covid-19. And I think it's just cuz the air grow up or something. I don't know. It's not, I don't, I don't talk to scientist, so it's hard for me to sing, so that's the left side. The right side of it, of course, is just this burned in bullshiting, a conspiratorial Alex Jones, worldview that, chemicals, in the water, turning the frogs gay, and, you know that that, you know, the Tuskegee Airmen, wasn't a racist thing. It was a dry run to kill us all and they're FEMA camps for conservatives in the UN, shock troops are going to show up any day now and they're going to, you know, fight back against it, like the Wolverines, you know. And I thought that that's that, you know, that shoe horn of nutcases meets basically in the center, Around the idea that vaccine band. And the weird thing with this one is, is that on the right anyways? They completely trust Donald Trump. They think you should be able to be the, you know, the ruler of America till he dies like Putin. She and Trump should run the world. That's a fair. It's it's time. We need an authoritarian strongman in there because countries have authoritarian strong, man. And the only answer to those guys is somebody who will shit on us just like they should on their people, right? And then that'll be the magic, right?.
Your Own Pay
"tornado tornado" Discussed on Your Own Pay
"Them from the horizontal. A lateral the vertical. And is where you get your tornadoes tornadoes and severe weather very dynamic. It's a it's like a mixture of completely unrelated ingredients that come together to create something truly awesome and elegant like societal summer summer. I call societal memorial day to labor day when when we in the society think of the beginning of summer is that the same as meteorological summer. Because i've noticed. Especially when i listened to the weather channel they talk about meteorological winter meteorological spring at so on and so on on the first of the month that we get the ordinary new seasons. Yeah that's right the if you look at and this is sort of maybe lobbing the ball. If i'm i am if i'm speaking or had please help me. Tell me There there are like three definitions of of the seasons. You've got solar summer. Which starts may one believe it or not. And it goes to july thirty one and you've got meteorological climatological summer which starts on the first of june and goes to the last day of august. And then you've got astronomical summer which is the official seasonal sequence which starts around the twentieth or twenty first of june and goes through the twentieth twenty first of september so there there are various definitions thermal. Summer is described by some climatologists as as the time when temperatures can Reach or exceed sixty eight degrees regularly on a daily basis so there are various definitions fever. I always thought that that the season started around the a in summer it was around june. Twenty third of date is when the song closest to that part of the earth and winter started around christmas basically. Because that's when the sun is the farthest away from the earth where you were were you. Were you happen to be. But you're right. It you know memorial day is when people say summer starts. That's when the pool's open pools open around that time because that's what school is get. Let out so you know. Next week is officially summer here. It really is. I'm sure the same way and boston to yes. Now hold on i want. I want to set the record straight here you know. Winter is not a an outgrowth of planetary proximity to the sun. In fact is a paradox if you look at winter. Winter occurs in the northern hemisphere when the northern hemisphere is tilted away from the sun in bays in the least of its radiation. Okay believe it or not during the winter around the fourteenth of the fourth of january. Sorry we are the closest to the sun. But i would tell relation to it. Overwhelms the benefits that we could derive from proximity. Okay now if you go to the fourth of july we are fatherless away from the sun because the northern hemisphere is tilted in the direction of the sidon that that that ad tilt on its access overwhelmed with the the cooling influence the proximity would have otherwise had. I just wanted to make that clear to you. People go here. that's really interesting. I was not aware of that at all. Thank you for that for that explanation..
Apathetic Enthusiasm
"tornado tornado" Discussed on Apathetic Enthusiasm
"That's right virtual travis. This is ap enthusiasm. We are talking about those things to today I am actually brandon cruz. I am one of the hosts of the podcast. The other host travis is nowhere to be seen the he is. He is missing in action. I would say he is probably in the middle of town in oklahoma city Not for the the nc double a basketball championship which is going on But actually for moving because he's moving to oklahoma city and Yeah he's he's he's they're kind of hanging out with this family doing doing their things there But you know. I can do this by myself. I don't i don't need him i can. Even i can even pay attention to myself Moving a bunch of screen. So i can try to get this glare out of out of ear But it's not gonna it's not gonna work if you wanna if you wanna hit us up. There's a things that you could do this little how this all general housekeeping Media as they say if you want to get a hold of the show itself at apathy on twitter at juggle know if you wanna get a hold of travis and wonder how oklahoma city is how the weather is out there. Is it warm. Is it cold or their tornadoes tornado. Alley as you know Hit him up at juggle me on twitter. If you wanna talk to me. I'm at barnyard. Crews generally. I'm on their re things about movies or a telling matt size more that. I'm not going to help him with his podcast. Which is a joke. I'm i talk about that a little bit later. facebook dot com slash appetite enthusiasm. Show is where you can get a hold of the show as far as facebook. If you're fallen that you're not afraid of the five hundred million person data breach..