This Whale Was Acting Fishy

GM Readers!📪 It's BitDegree Insider, and let's not press that snooze button on our life's alarm clock.

⭐️Today's selection:

• 🐟This Whale Was Acting Fishy
• ✨Ethereum Ceremony
• 😎Cool Facts Tuesday
• 👌Selected Meme of The Day
• 📰Bite-Sized News

SOMETHING'S FISHY

The Whale Alert team announced that a transfer of 115 million TUSD to several Binance accounts has recently taken place.

Justin Sun is reportedly behind the transaction. Apparently, the founder of Tron planned to take part in the Sui Launchpool.

To note, Sui Network is a Layer-1 blockchain.

The project caused a stir in the crypto community even at the announcement stage, since it looked like a solid competitor to Aptos which launched its mainnet in the middle of the Autumn.

Will it live up to expectations?

Sui, in its turn, is launching on the 3rd of May, though, without organising an airdrop… which also created an extra FUD on the blockchain, since this means that all the testing and participation was in vain.

At least that's how some of the community members felt like.

Only a small part of the early users were eligible to purchase tokens via exchanges (but we will get back to Sui In the next few days).

Besides purchasing, you can farm or just get the exchanges' attention by choosing them, in hopes of receiving crypto allocation in exchange. I mean. That's how these things go.

With Binance, right now, specifically.

But, let's concentrate on the news. So, Binance introduced Farming.

That's the reason behind Justin Sun's massive transfer. Because bringing money = allocation of tokens. And Sun realised that this is a pretty opportunity to grab that dough.

Because Binance has announced that they're allocating funds to those who stake on their exchange.

So, if everything went according to Justin Sun's plan, no SUI would have been left for retail investors.

So Binance CEO Changpeng Zhao didn't take long to respond to this situation.

After that, Sun said that it was someone from the team who misunderstood his orders and apologized. It got awkward.

TL;DR: Justin Sun, The Founder of Tron, transfered 115 million TUSD to Binance accounts. It was an attempt at receiving all the possible token allocation for those who choose to participate in Binance's Farming program, and receive SUI tokens. CZ said 'not so fast.'

ETHEREUM CEREMONY

Ethereum is launching the KZG Ceremony for the second time, in which we can participate.

This event is necessary for the further scalability of Ethereum.

In short, it will help to transfer data from Layer-2 to Layer-1 more quickly, which will reduce fees in Layer-2.

Each participant contributes secret data on which calculations are performed.

This data is, then, mixed with other data pieces and can be made public and passed on to the next participant.

Once again, what's a KZG Ceremony??

The KZG Ceremony is a collaborative event in which people from the Ethereum community generate a secret random string of numbers together.

This string is essential for data verification and must remain secret and irreproducible. Participants receive a string from the previous participant, add their own random values (e.g., from their mouse movements), and pass the combined string to the next participant.

As long as at least one person in the ceremony is honest, the final value will be secure from attackers.

Tens of thousands of people participated in the EIP-4844 KZG ceremony. And it worked out perfectly. If one single soul is about to be honest, the whole thing will succeed!

To participate, you need a wallet with 64+ transactions in the main network before January 13th.

How to participate? Well, firstly, you  go to the ceremony's website and connect your wallet.

Then, follow these steps:

• Click "Begin."
• Create and enter a secret word. Then move your mouse until the snake fills the entire circle.
• Click "Submit" and "Unlock with Ethereum."
• Next, click "Sign" and sign the transaction.
• Then click "Sign-In with Ethereum" and sign the transaction.
• Wait for your wallet to enter the ceremony.

Participants in this event will receive a POAP from Ethereum. It may be useful in the future or have other applications. In any case, it's worth participating!

TL;DR: Ethereum is organizing a KZG Summoning Ceremony. It's an ostentatious event of geeks building and carrying out a blind experiment of cyber trust.

COOL FACTS TUESDAY

Once upon a time... One KuCoin gained notoriety. Because this person... launched 5 meme coins per day to facilitate the process of stealing funds.

So... yeah? What's up with that? Are we just giving clout to yet another scammer?

Well, this is not just a scammer.

This person was creating 5 meme coins per day for two years straight.

Talk about dedication. That's some serious work ethic. All the highest attention... To the wrong detail.

KuCoin has already made a public statement that yes, they're aware that they've got such a selected user among their ranks.

But they've made it clear that they will not block the account until such a request is made by law enforcement agencies.

Well... Talk about decentralisation. It looks like this scammer truly made the right choice when picking what exchange to thrive upon.

Well, it looks like these scammers take inspiration from each other. We've already covered the meme coin mania, so feel free to see the craziness for yourselves.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Australian Crypto Exchange CoinJar Plans to Venture into US Market. Straight outta the Land Down Under.
• Hackers Offer Stolen Verified Crypto Accounts at Bargain Prices on the Darknet. For less than $3,000
• Crypto Exchange Coinbase Allegedly Violated Biometric Privacy Laws in Illinois. The torture never stops...