 Welcome to Digital Asset News. I could stop stories in cryptocurrency and digital assets and back them down to bite-sized pieces. Today we've got some great stories about mass adoption with just a sprinkle of a scam. So first up, Bitcoin ain't going away. It's only going to get stronger, says US Congressman. Any state centralized monetary systems never end well. Also, Open removes liquidity from Uniswap after 370,000 stolen in DeFi exploit. And this actually is going to piggyback on the video we did from yesterday. And finally, Coinbase follows Huobi in supporting DOT crypto domains-based payments. And at first glance, this doesn't look too fantastic, but when we really begin to it, this is a massive step forward as far as mass adoption and ease of use. And actually, I was so excited about this news. I partnered up with Unstoppable Domains and they're giving away a hundred bucks just for watching this video. So at the very end, we're going to talk about it. But first up, let's take a look at the market. So it's August 5th. It's around 12.40 p.m. Texas time. It looks like Bitcoin, a little bit of a rally. What's going on? 4% up. Looks like we're almost at 11.7. So I'd like to see that 7% for the week. Fantastic. Ethereum is pushing the boundaries of 400. I'd like to see that. XRP 30 cents. Watch out. Tether zero. Tether is Tether's Tether. Bitcoin cash still in there. Don't understand why. Cardano is down a little bit. Bitcoin SV also in the top 10. Sure. Litecoin up 3%. Fantastic. Chainlink up just a smidge. And man, I gotta tell you, Chainlink has been on a massive run. I do not know when it's going to come down. There has to be retracement at some point. What goes up must come down. Things aren't in perpetual motion and they can't go the stratosphere without a little bit of a setback. But Chainlink is bucking that trend. So all the Chainlink holders, congratulations to you. Tip of the hat for holding on. Binance coin up 6.3%. Very nice. There was some news as far as a Binance or Binance is going to release one of their debit cards. I was watching a coin bureau's video. Fantastic stuff. Watch that as he talks about that and compares it to crypto.com, which is pretty interesting. I know there's a lot of people who are not too happy with crypto.com right now. But you know, maybe that'll all blow over. I don't know. EOS, Tezos, everything's looking pretty good. So a little green, mostly green. And I like to see that. So let's break into, actually, I want to start with the scam article real quick. So yesterday, we were talking about different alternatives to Coinbase. And I had talked about Uniswap. And I was so impressed with it because it was so easy to use. And I actually could get the Celsius token, which I can't get anywhere else. And I was just amazed. It was a decentralized exchange, very easy, very simple. And of course, I talked about connecting my Ether wallet to the Brave browser. You can also connect your ledger to the Brave browser. It's just awesome. So I was so impressed to actually put it on to the spreadsheet, which is the exchange and wallet information tab. This is everything you need to know as far as all the alternatives to Coinbase. I just had a lot of problems with Coinbase. So I just made this list of all the alternatives, all the things that I have used or am currently using. And it lays out everything as far as like fees and all that stuff. So there's a description in the, in every one of my videos, you can check it out. But what I did here is I put up Uniswap because I was just so impressed with it. But there is a little caveat here. And I said, Uniswap is awesome, really liked it. But I did say use it at your own risk, click here to see what I'm talking about. And when you click here, it goes to this article, which talks about the open. Open coin removes liquidity from Uniswap after a bunch of money was stolen. So let's break in. I need to talk about this so everybody's protected. Anyhow, it states here, attackers have exploited a vulnerability in the open ETH put contract to walk away with more than 370K. This happened yesterday. The traders used flash loans. We've heard about this before these flash loans and DeFi to buy Ethereum pot O tokens are put out tokens put out tokens from Uniswap. They then reportedly choose an ERC 20 token in this case, the USD C coin as collateral and exercised the trading option. The result was a double spend or double transfer, which effectively stole the collateral. And that sucks. I mean, that's the whole point of this is to have a decentralized system. And it's a trustless base. And then you got these people. And that's just how it is. I mean, if you leave things open, people are going to be people. And we all have an ugly side. Some people are uglier than others. And they just steal from people. So that's one of those things. Anyhow, it states according to blockchain records, the attackers received both their original Ethereum deposits and USD C options in August for the blog from open, the platform estimated losses from these point at 371 to 60, but said the amount may change. This is what they state. This exploit allowed an attacker to double exercise O tokens and steal the collateral posted by certain sellers. And they talk about how they actually pulled the coins off and they pulled the liquidity. So open realized something was happening within the day. And that's amazing, you know, to just be aware of what's going on and then to plug the whole that quiet that quickly. So tip of the hat to open. And this is what they state. They had removed the liquidity from Uniswap. And they said, Hey, all this is just yesterday at 11am roughly, it seems that there has been an issue with some O token contracts. We're working hard understanding the issue so we can let help or so we can help users as best we can. We have removed liquidity from Uniswap in the meantime, would be best to not open new vaults in the moment. And I got to tell you, I appreciate this kind of openness because in the past, we've seen a lot of businesses be very shadowy and not give the information out when there is a breach that is like, Oh, no, no, no, nothing's wrong here. You know, move away citizen, nothing to see here. And these guys within, you know, a couple hours or however long it took said, Hey, there's a problem. We're going to fix this right now. That's, that's great. That's how businesses should go. Anyhow, attempting to prevent further abuse of this loophole, open receive 4 and 39 170 USDC of collateral from outstanding vaults using a white hat attack, effectively returning it to put users. Now, people weren't too happy about, you know, losing some things, but hey, they're doing the right thing. And according to open co-founder Alexis Galba, in a discord chat session, the platform has offered to buy any ETH put O tokens at above market prices, which she said were 20% above the best ask price at dairy pit. And I gotta tell you, that's how you do things. When, when something messes up, even if it's not your fault or, you know, maybe there's part of your fault, you correct it and you come in there and go, you know what, that's, that's something on me. I will make sure this is corrected and moving forward will not happen again. And that's leadership and that's business and how it should run. I do appreciate that greatly. And I always remember the latest launch for SpaceX, Elon Musk said he was interviewed. And I cannot believe that guy doesn't have a massive ego. I mean, I would have a massive ego. Honestly, if I did all the things that guy did, but, but the interviewer said, you know, you know, what do you think about this launch? And he says, well, he goes, if everything goes and goes as planned, which we think it will, then I owe everything to the team around me. And it's a great, a great day. If it fails, it's because I did something wrong. And it's all on me. And that's how it should be done. So hats off to open, even though it may have made a mistake or whatever else, I just want to make sure everybody knows from now on, there's going to be a little disclaimer used you on risk for uniswap. But work pretty well, just that there's some issues with it. Any let's move on to the top story. So this guy, this is my new favorite congressman, Tom Emmer. And this was on the Palm Pliano podcast, which if you haven't checked it out, it's really good. Matthew Palm Pliano, he's been in the crypto space for quite some time. Digital Creek, he's the founder. And he brings on some pretty great guests. And this is no exception. So what happened in this episode is Emmer, he said a lot of different things, but some of the highlights were this. He states, as we come out of the crisis, talking about the coronavirus right now, Bitcoin ain't going away. It's going to get stronger. And now the acting comptroller of the currency or OCC, Brian Brooks, who was previously on the legal team of Coinbase, is saying, hey, institutions, you can start banking this stuff. You can provide a home for it. You can start working with it. And yeah, I think banks are going to do that because I don't want to miss out. And he was referring to Brooks recent statement that banks in the U.S. are allowed to custody cryptocurrencies, a move widely supported by everybody. Well, not everybody. Some people think it's stupid. And some people are worried that the banks will turn on us because, you know, just like they do with fiat, they take in fiat, there's fractional reserve lending, and they'll take in a hundred bucks, and they'll lend a hundred bucks or whatever the criteria is. I don't know if it's 3% back in and 97% out. I don't know, but yeah, it could destroy the whole value as people start to, you know, deposit their Bitcoin, per se, right? And then they give them some kind of paper equivalent, which beats the whole purpose. But that's not a story for today. Let's just go on with this one. So the congressman also defended Bitcoin in the wake of the recent Twitter hack, saying that Bitcoin isn't the problem, centralized control is. And during the podcast, he clarified, he said, look, Twitter's the problem. And he's got a point. They are the ones that screwed up. Bitcoin didn't screw up Twitter. Your security was not adequate. They hacked Twitter and you're going to have bad guys all over the place. And that's true. It wasn't, it wasn't a problem with Bitcoin, which people said, Oh, there's a hack and it's Bitcoin. It's not the issue. The issue was Twitter messed up. And again, they should take ownership of that. He also explained that this is why he doesn't like centralized control. An example, Chinese Wuhan and the local government just shut everybody down since it was in control of fiat currencies. The government has your currency all on a card. And guess what? If you lived in Wuhan, they shut you down. You couldn't get a ride out of Wuhan to another city. You couldn't go get some groceries unless the government released you to go get the groceries. So Nina say more about what I don't like about centralized control. Before I move on, I know there are some people who were in China and now they are out or they are somehow getting access through whatever, poor, private VPN or whatever else to actually access these videos because I've got people who have lived in China or living in China. So I'm going to ask you that same question. Did that actually happen? Did the government shut down the ability to pay for things when you were over there during the pandemic? I would just like to know that. But if that's true, that would make sense because, you know, especially with the digital yuan coming about and then rolling everything out and then, you know, with WePay and all that stuff that they have, I mean, they could just as easily shut it down. Not sure if they did, but that's what the congressman has talked about. So need to verify that. Emmer added that when Facebook's Libra Crip, the currency was for his proposed, he thought, oh, great concept, but who's going to be in control? Someone's got to be in control. And he talks about studying as a book called The Road to Serfdom, written by economist and philosopher Frederick Hayek. Emmer pointed out that in a centralized system, there always has to be someone or some group that decides the allocation of money. That's never a good thing. So I appreciate this guy because he's looking into the past as far as the control of the centralized government, the central bankers, the Federal Reserve and how they are dictating the monetary policy, which is leading to a type of collapse. And when he talks about these things, he goes, this is why Bitcoin is fantastic because it is decentralized. So he's not afraid of it. He's going to embrace it. And that's why he's my new favorite congressman because I'm hoping he can bring things forward. And he is on the financial committee. So that's a great thing. But he does state here, now that works out pretty good, talking about decentralization or centralization, if you're the one that's in the group or is that guy. But after a while, if you're not in the group, if you're not the one making the decisions on the allocation, this thing always ends one way. And there's never been good, no matter what, no matter where it's been tried. And yeah, I like a person who can talk about history because you don't know where you're going unless you know where you've been. Finish it up. He says, I think we're just moving into that next phase, which is why crypto, the area excites me because I do, because do I think that the government has a role? Yeah, I'm not going to say no, I don't think it has a big role, but it has some type of role. And I love this quote. I think people can beliefs themselves. I don't like the fact that my colleagues think everybody is so dumb that they're all going to get fleeced all the time. You know, the greatest game is for the greatest risk. And that's the same thing I talk about. Now, on this channel, we talk about scam the day sometimes. And the only reason I bring it up is to educate people not because I feel like everybody's dumb, but I feel like if they know these types of things, especially the newbies who are just getting into it are like, Hey, is this an airdrop? Looks like an airdrop. I don't know what an airdrop is. Maybe this is an airdrop. And then all of a sudden they're, you know, giving their Bitcoin away or, and they think, Oh, this is just how it goes. But that's not it. So I think people are smart. If you give them enough information, they will usually make the right decision. Not all the time. I mean, I'm a horrible decision in my life. But in general, I think people are smart enough to govern themselves for the most part. Anyhow, so I need to follow this guy. Here's you on Twitter. We follow him there. Great. Tom Emmer. So real quick, I want to talk about the Palm podcast because there was, there was two things and I haven't watched the whole thing. I watched about half of it and it was fantastic. So I definitely, I'm going to link this in the description so everybody can watch it because it's really interesting, the things that he has to say, but there's two things that I need to make mention. The first thing is this congressman's vision. Tom's vision of where crypto is going. And because it's on the financial committees, this is the guy that we want there. And this is the guy that could help with mass adoption. So let's take a listen. Experience. I wanted to be part of the financial services committee because I believe our monetary system, our opportunity, our financial system, at least in the past, has been what separates the United States of America from every other country on the face of the planet. It is the definition of our freedom. This is the only country where you and I, at least we used to be able to, it's getting worse because these do-gooders with election certificates keep rushing in to save us all from ourselves and they cause more trouble than they do solve problems. But this has been the only country where a dumb shrub like me can come up with a great idea and go sit down with a local banker. It used to be, now we've got all kinds of options, one of which I don't want to see government screw up and that's the crypto area. But we can sit down with somebody that wants to join us in taking a risk. They want to help us by providing necessary capital that allows us to open the next great Harley Davidson in our garage, the next great metronic in our garage, Walt Disney. And I mean every one of these companies that started with an idea in the garage, that's what makes this country frankly different from every other country in the face of the planet. So as he's talking about that, first of all, I like his outlook. There's some things that are just a little bit wacky with him, but what are you going to do? He's a politician. That's what politicians are. But I will say that when we start to talk about all these different major corporations like an IBM getting into blockchain and everybody's worried like, oh, they're going to take over and they're going to dominate everything else. All the big companies always started off as just some little idea like he talks about in somebody's garage. Look at Apple, look at Microsoft, look at Airbnb. It all started with a very simple idea that grew to something massive. Why didn't big corporations take over? Because they are so bloated with top heavy management and they cannot be as nimble as a small startup. So when we start talking about cryptocurrency assets, I will put my money on the small guy as opposed to big huge corporation. They can't move and can't shift and can't pivot because they have too much overhead. So the next part, this is the last part where he's going to pull back the curtain. This was fascinating to me because he has met with the Federal Reserve and this is the mentality. So let's take a listen. It's funny. I'm going to tell you as a side story, that I got here, I get on the financial services committee. One of the first things we got was a meeting over at the Federal Reserve with then Chair Yellen and Dr. Stanley Fisher, one of the board members and Jay Powell, who was then one of the governors, whatever you call them, their titles. And I asked them what they were doing to create more opportunities in the financial services industry. And back then, Pomp, I was talking specifically about bank charters, right? Which, by the way, I think the action by Brian Brooks last week could be very good when we talk about banks, but we can get to that in a minute. I said to them, you guys have been suffocating the lower end of the financial services spectrum. Dr. Stanley Fisher, God bless him. I don't really know him. But he told me, his response was, well, it's because they can't keep up. The smaller banks can't keep up with the computer technology. He said to them, hey man, why don't you come to Minnesota and we'll go up to Halleck, where I think they're still using the old-fashioned ledger, and they're keeping track of everybody the old-fashioned way. No, you guys got to get out of the way. You get so involved. So again, that's the problem with power. Once you have power, it's hard to let go. It's hard to relinquish what you have, and that's the problem with the Federal Reserve. And he's telling them, right, it's like, get out of the way, because you're screwing everything up. And hopefully, Tom here will pass some bills, write some bills, and be on the right side of history as far as cryptocurrency and digital assets go. All right, let's talk about some more mass adoption in our next story. So next up, Coinbase follows Huobi in supporting .crypto domains-based payments. And again, at first, I was like, great, unstoppable domains. We talked about that a little bit ago about how you can change some things over and get some domains. And just like the early days of the internet, when people were buying up like pets.com and casper.com and they sold the domains for millions of dollars. So I kind of see that as what's going on right now. But there's a new wrinkle to this. And I think it's interesting. So Coinbase Wallet now allows to register and store .crypto domains, which is great. Huobi does the same thing. And so does Gemini, featuring payments through domain handles instead of cryptographic addresses. And this is huge. This is what I thought what it was going to be like two or three weeks ago when I first learned about it. But that's not the case. So here's what's going on. Coinbase users can now send payments to each other by simply typing a .crypto domain instead of using the long form cryptographic addresses and stop the domains, told Coinbase. Great. By introducing the new integration, Coinbase Wallet joins Huobi, which announced the same feature in late June. Coinbase will also custody .crypto domains, just like Gemini, where you can store your domains there, which people are like, well, why do I do that? We got to understand. There's some huge entities who are just buying up .crypto domains like nobody's business because they want to be like the internet in 1995 or four when everybody was buying up the .coms. That's why you can't get good .coms anymore because they're all bought up. So now we have an ability to buy .crypto .zil domains. So they're getting bought up quickly. So this is the time to buy them. So anyhow, Coinbase is going to allow you to store the domains there as far as Gemini and Huobi, I think, as well. But let's take a look at what it appears to be when you pay with a public key versus .crypto domain. Now, most of you know this, but I just want to make sure that everybody's up to speed. So this was the video that we first talked about, Unstoppable Domains. I'll link it at the very end in one of the end cards. But what I said here, and this is in the description of every one of the videos, is going to talk about a Brave browser and then it's going to say, Unstoppable Domains. Simplify your sending and receiving crypto addresses. So you go from this with this big long, I mean, it's not that long, to be honest, right? But if someone comes with you on the street and go, hey, man, what's, you know, how can I pay in Bitcoin? Oh, well, let me, let me tell you, it's three PFS, one QS, QXJ. No one's going to do that. So like, I mean, you can, you can do the QR scan and that's fine if you got your phone, whatever else. But how cool is this? You take that and just go, yeah, just send us down likes.crypto. Just send us down likes.crypto. That's all you got to do. If you don't have your phone on you, or if you want to remember it later, you want to post anywhere or whatever, then likes.crypto or whatever it is, it could be, you know, potatofoot.crypto or tomatocoin.crypto or whatever else it is, right? You just have to register it and unstoppable domains. And what's cool about that is you don't have to use a Bitcoin address and Ethereum address and XRP address, a Zillica address or whatever address that you have for all your different cryptos. Dan likes.crypto accepts all of them, just like potatofoot.crypto or whatever you have like johnsmith.crypto. When you set it up, it can accept all the cryptos that you've ever had or have ever thought about having. So that's great. And I'm going to show you how that works right now. And then of course, if you want to sign up for it, here is the link. That'll be in the description of every one of the videos. Click on that, make sure you go in the right place. So let's take a look at what that appears to be when you do that with Coinbase. So this is on the Unstoppable Domains website, and you got Tim Draper here, and he's going to tell you all about it. So Tim, if you don't know, is one of those people that likes to invest in startups, you know, the little stuff like Hotmail and Uber and whatever else. Now, has he had 100% winners? No, but he's picked some right ones. And cryptocurrency, especially Bitcoin, which he predicts to be 250,000 soon, is one of his babies. And he also, I believe, is investing in Unstoppable Domains. So let's take a listen. Today, I'm excited to share that you can now use Unstoppable Domains inside the Coinbase wallet. You can send money to Tim Draper. Crypto. Yeah, don't do that. But anyway, you can send money to Tim Draper. Crypto, and you don't have to know my public address, and it will come right to me. And so it solves all the complications of sending Bitcoin or any other cryptocurrency because the public address is now your name.Crypto. So. All right, so great. So here's how we do all that. We're going to sign up for a .crypto, right? We're going to find whatever it is that we have. Jane Smith, John Doe, .crypto, whatever else, right? And then once we're logged in, we have everything. We're going to click these three dots here, and I'll stop all domains or three bars, the menu. And we're going to go to My Domains. And there's danlikes.crypto. We're going to click on Manage. So this is where we can put in all the different cryptocurrencies that we're going to use for our danlikes.crypto. Now, do you want to select the initial one? Sure. Let's take a look. And here they all are. Lots of them, right? I need to add my Zillica, and my Litecoin, and I'm not going to add Litecoin, and my Bitcoin, but I'll do that later. I'm just, I haven't got around to it. So that's pretty much it. And then once we're done, we just click on Save Changes. And that's all. Again, you just put in your, you know, danlikes.crypto, Jane Doe, .crypto, and then you send away whatever you want to do, because you have all your different crypto wallets and or receiving addresses in one place, which is pretty cool. Also, you can also store your non-fungible tokens like crypto keys and stuff like that. I'm not big into that thing, but sure, any kind of digital asset, sure you can put it right there. And the last thing is the giveaway. So the giveaway is going to be very simple. Unstoppable domains, I partner up with them because I like what they're doing. And I like things that are moving things towards mass adoption. And they actually reach out to me a couple of days ago, hey, we're giving away just free money, essentially. And I'm not a big person on free giveaway. I just don't, I just don't, I get why they're cool and everything, but I'm like, I don't really like them. However, I was reminded that it's not what I like. It's what everybody else likes. And with the economy, the way it is, I'm sure everybody can use a hundred bucks, right? So what, why wouldn't I do that? That'd be stupid. So here's what we're going to do. So it's $100. And we're going to do it every day for the next three days. So a $300 total, it's going to be given away by unstoppable domains. So all you got to do is leave a comment and the comments just eat the 10K. That's all I got to say, eat the 10K. And you need to put in your dot crypto address. So whatever you sign up for, or if you already have one, just put that in, you know, Jane Doe dot crypto, Jane Doe, John Doe, whatever it is. And then just put it in the comment section. And then we'll at random, I'll have unstoppable domains at random pick the winner. And I will show the winner actually getting paid $100 and Ethereum, excuse me, it's going to be an Ethereum not dollars. So you need to like we just talked about, like I had in my wallet of Dan likes crypto. So I have my Ethereum address linked to it. So wherever you have your Ethereum, put it right there. And then unstoppable domains will choose the winner at random. And they will give away $100 worth of Ethereum. So right now that's like 0.25 roughly. So that's it for today. Just want to give some random shout outs to all the members who joined up to Dan. And just so you know, there's a link at the bottom, it's, it'll just tell you to join up. You don't get anything special. It's a buck 99. It's kind of like a tip. I always think of it like that. But for all the people who just joined up, Mike Menardu, Justin Ross, Justin Ross, David Worm, Frank Weinheimer, that's a good one. Let's see. David Sontag, like that. Chuck C, that's a good one. Donald Davidson, Joseph F, who else we got? David Mills, Mosaenal, very talented guy, works a lot with Photoshop, does a lot of different things with cars and everything else. Very nice stuff. Duckberg, Duckberg, and Marky Searcy. So thanks everybody who has signed up. If you liked those videos, there's going to be two more that's going to pop up on your left and right. Go ahead and check those out. I have no control over those, just like the ads you may have seen in the beginning. If they were a spam, I have no control over that. That is all YouTube, just like the two videos they're going to pick right now for you. So go ahead and check those out and I'll see you on the next one.