Twitter CEO Jack Dorsey Shows off Bitcoin Lightning Network Node

Francisco Memoria

Twitter co-founder and CEO Jack Dorsey has recently shown off a recently received Bitcoin Lightning Network full node he got from Casa, further showing the entrepreneur’s commitment to the flagship cryptocurrency and its layer-two scaling solution.

The node Jack Dorsey showed off on Twitter is one being sold by Casa for $300, that already comes with a gold membership on the company’s platform, and is already pre-synced to make it easier to set up.

The Casa Node, a plug-and-play solution, is built with Raspberry Pi 3B+ and comes with cables that help users get going. Running a full Bitcoin node helps validate the cryptocurrency’s blockchain, contributing to its decentralization and security.

Since Casa’s node allows Dorsey to participate in the Lightning Network (LN), the cryptocurrency’s layer-two scaling solution, the entrepreneur may also contribute to its liquidity. The LN’s capacity surpassed 50 BTC late last year, and is now over 733 BTC.

Dorsey, who’s also the CEO of Square, the company behind the Cash app, which lets users buy and sell bitcoin, has notably invested in the LN last year, helping it become a reality. Last month, he backed a ‘trust game’ based on it that saw users pass a ‘torch’ worth hundreds of thousands of satoshis to one another.

As CryptoGlobe covered, data from cryptocurrency analytics platform Data Light has shown that 74% of all Bitcoin nodes are located in only 10 countries, with the US alone having over 2,600 nodes.

Behind the US are Germany and France, with 2,016 and 698 Bitcoin nodes respectively. The countries with the greatest Bitcoin nodes per capita were Singapore and the Netherlands, at 17,700 and 32,000 citizens per node.

Luxury Cars and $15 Million in Crypto Seized in Chinese Arbitrage Scam Bust

Michael LaVere
  • Chinese authorities seized $15M in crypto and several supercars following scam ring bust.
  • The group was allegedly operating an arbitrage scam that promised users fake Huobi Tokens. 

Chinese authorities have reportedly seized more than $15 million in crypto-assets and $2 million in supercars after busting up an arbitrage scam selling counterfeit tokens. 

According to a report by China’s Ministry of Public Security, police in the city of Wenzhou arrested 10 individuals connected to operating a fraudulent cryptocurrency scheme. The report claims the arbitrage group was scamming victims using blockchain smart contracts to generate fake cryptocurrencies. 

Following the bust, authorities seized bitcoin, ether, and tether worth over 100 million yuan ($15 million). The report also claims police seized several supercars, including a Ferrari and a McLaren valued at more than $2 million, in addition to the luxury villa in which the scammers were staying. 

The arrested individuals had reportedly operated a smart contract scheme since 2019, which advertised a blockchain product that claimed to generate Huobi’s native token HT. Unsuspecting consumers were promised the tokens would generate arbitrage opportunities worth a return of up to 8%. 

One victim, identified as Li in the report, first notified police after joining a Telegram group belonging to the scam artists. 

Li told authorities, 

Simply put, you send one unit of ETH to a designated address, you will receive 60 HT. And then you can sell it to gain the difference.

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