Crypto World’s Weekend Recap: A Weekend Full of Cryptocurrency Developments

Ethereum’s Holesky Testnet Debut Stumbles: Developers Face Configuration Challenge

Ethereum developers encountered a setback in their attempt to launch the new Holesky test network on September 16, as it failed to activate with approximately 1.5 million validators due to a source code misconfiguration. Though some validators manually fixed the issue, there were insufficient active validators to achieve network finality. Ethereum Foundation engineer Parithosh Jayanthi expressed optimism that the network would successfully launch within the next two weeks after addressing the technical glitch.

CoinEx Extends Olive Branch to Hackers in Open Letter Amid $70 Million Heist

Crypto exchange CoinEx has taken an unconventional approach by publishing an open letter appealing to the hackers responsible for a recent $70 million heist. The letter invites the hackers to engage in discussions for the potential return of stolen funds and even offers a generous bug bounty. In an unusual twist, CoinEx commends white hat hackers for their technical expertise and invites them to collaborate on enhancing the exchange’s security system.

Prosecutors Object to Intrusive Jury Questions in Sam Bankman-Fried’s Trial

United States prosecutors have raised objections to a series of probing questions proposed by Sam Bankman-Fried’s defense team for prospective jurors in his upcoming trial. Prosecutors argue that such questions, which delve into the jurors’ opinions about Bankman-Fried, his cryptocurrency exchange FTX, and their preconceived notions of guilt or innocence, are unnecessarily invasive. Additionally, prosecutors oppose inquiries regarding Bankman-Fried’s ADHD diagnosis, political donations, and involvement in the effective altruism movement.

Grayscale CEO Expresses Hope for US Cryptocurrency Legislation by Year’s End

Grayscale Investment CEO Michael Sonnenshein has voiced optimism about the potential passage of cryptocurrency-related legislation by the end of the year in the United States. Sonnenshein cited growing momentum surrounding cryptocurrency bills in Washington and praised the efforts of lawmakers, including Patrick McHenry, Chairman of the U.S. House Financial Services committee. He believes that the upcoming 2024 presidential election could serve as a catalyst to garner broader support for cryptocurrency legislation.