Thursday, March 03, 2022

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UKRAINE'S 'CRYPTO AIRDROP' A NO-GO

Hmmm...The crypto market was severely affected since Wednesday
A crypto airdrop is a promotional event for a new blockchain-based service. In an airdrop, participants are given free crypto coins or tokens by a new service. Those looking to participate in an airdrop require a crypto wallet to do so.
Airdrops involve crypto projects sending free tokens en masse to their communities in a bid to encourage adoption
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Ukraine Cancels Crypto Airdrop, No Plans to Issue NFTs

"Ukraine Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov announced the country has canceled its planned crypto airdrop.

In a tweet, Fedorov revealed that the Ukrainian administration is suspending the “Peaceful World” token airdrop after “careful consideration.” Instead of an airdrop, the Vice Minister promised to “announce NFTs to support [the] Ukrainian Armed Forces.”

Fedorov, however, clarified that Ukraine has no “plans to issue any fungible tokens.”

Much earlier, the official Twitter page of Ukraine “confirmed” that an airdrop would happen after securing a $5 million dollar crypto donation from Polkadot Founder Gavin Wood. The airdrop was supposedly a move to reward the global community of donors for Ukraine while it fights back the Russian hostility.

Notably, this airdrop would have been the first of its kind for crypto donors and would have opened windows for new use cases for crypto across the general public.

The pronouncement from Fedorov received mixed receptions. Topping the discussion is a verified user who tweeted this in the thread:

This is the best rug ever

— Cobie (@cobie) March 3, 2022

While some users claimed to have anticipated the “rug-pull,” one user noted he does not mind the move and suggested Ukraine airdrop or put for sale some NFTs of the country’s scenic views instead."

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Ukraine Cancels Crypto ‘Airdrop’ Rewards for Donations

  • Nation will issue nonfungible tokens soon to support military
  • More than $33 million in crypto donations received so far
Updated on
Ukraine has scrapped a plan to reward people who donated to its fight against a Russian invasion with newly created crypto assets, following complications with the project.
 
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One In A Million Moments Captured on Camera

BLOW-BACK IN NEAR-EARTH ORBIT: Hacking Satellites is An Act of War

Russian space agency says hacking satellites is an act of war

Russia will consider any cyberattacks targeting Russian satellite infrastructure an act of war, as the country's space agency director said in a TV interview.

Dmitry Rogozin, the current head of the Russian Roscosmos State Space Corporation, added that such attempts would also be considered crimes and investigated by Russia's law enforcement agencies.

"Because disabling the satellite group of any country is generally a casus belli, that is, a reason to go to war. And we will be looking for those who organized it," Rogozin said on Rossiya 24 (VGTRK).

"We will send all necessary materials to the Federal Security Service, the Investigative Committee, and the Prosecutor General's Office for relevant criminal cases to be opened."

While not directly hit by hackers, satellite systems have been used before in cyberattacks, with the Russian-backed Turla cyber-espionage group famously hijacking satellite Internet links to deliver malware to remote areas.

Chinese-sponsored Lotus Blossom also targeted and infected a Southeast Asian satellite communications operator's systems used to monitor and control satellites.

Rogozin denies Roscosmos hack

On Monday, Anonymous-linked Network Battalion 65 (NB65) claimed it hacked and shut down some Roscosmos servers.

Rogozin denied their claims saying the Russian space agency's activity control centers operate normally and called NB65 "scammers and petty swindlers."

Two days later, Roscosmos asked for guarantees Wednesday that OneWeb satellites (part of a future worldwide network providing Internet broadband services) will not be used for military purposes, as Reuters first reported.

Rogozin added that the Soyuz rocket planned to put 36 OneWeb satellites in orbit this week would not launch unless the UK government doesn't withdraw from OneWeb and sell its share.

However, these demands were later dismissed by UK Business & Energy Secretary Kwasi Kwarteng, who refused any negotiations and said that the UK government would not be selling its share.

"I give you two days to think. There will be no guarantees of non-military use of the system - there will be no system," Rogozin replied."

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Yellen Pushes for Repackaged Biden Plan to Boost Economy

Re-Packaging

Markets
Economics

Yellen Pushes for Repackaged Biden Plan to Boost Economy

Janet Yellen

on March
 
U.S. Treasury Secretary Janet Yellen said Congress can boost long-term growth in the economy if it finds a way to pass the remainder of the Biden administration’s economic policy proposals.

“It’s an economic policy that aims to expand our nation’s economic potential through productivity-enhancing investments along with policies to encourage more people to join the labor market,” Yellen said in remarks Wednesday at an event in Chicago."

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