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- 💀 Satoshi's Skull Finds A New Home!
💀 Satoshi's Skull Finds A New Home!
Plus:🔥 XChat Debuts, Lazarus Hacked & Trump’s Family Feud
Deep Dive Into Crypto Biggest News
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Happy Wednesday. Welcome back, Readers!
Big news for X Fam. Elon Musk, the billionaire CEO, just revealed the launch of a new messaging tool – the XChat for X users with bitcoin-integrated encryption features. Meanwhile, Ripple CEO Brad Garlinghouse takes a gutsy call. Donates the iconic “Skull of Satoshi” to the Bitcoin Community. What’s more? Hackers got hacked. Lazarus, the notorious North Korean hacker group, gets exposed. It seems they forgot to turn on the incognito mode. Trump stirs controversy again. This time he lands in friction with his sons over the $TRUMP Wallet launch.
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The Big One
Ripple CEO Donates the Skull of Satoshi
In the biggest crypto news, Ripple CEO Brad Garlinghouse makes a decisive step by donating the controversial “Skull of Satoshi” to the Bitcoin community.
Source: The Bitcoin Conference
Amid the decades-old rivalry between Bitcoin, the flagship cryptocurrency, and popular altcoins like XRP, SOL, or ETH, the tech giant Brad Garlinghouse made an ultimate gesture by extending his truce proposal to the broader crypto community. He officially donated the “Skull of Satoshi” to the Bitcoin community on May 28 at the Bitcoin Conference 2025 in Las Vegas, Nevada. The incredible artwork now has a special place at the Bitcoin Museum, Nashville.
Source: X
Why now?
In his X post, Garlinghouse emphasized how Bitcoin’s dominance has often overshadowed the efficacy of other altcoins in the DeFi space, and it’s time to break the conflict and promote cooperation in the crypto ecosystem.
A symbolic move in mending fences
The 11-foot giant green skull made of electronic waste denotes the environmental impact of Bitcoin mining and the need for sustainable practices. However, with time, it also indicated Bitcoin’s contribution to the financial ecosystem.
Garlinghouse acknowledged Bitcoin’s “staying power” and donated the skull as a token of goodwill between Ripple and Bitcoin maximalists. He emphasized that it’s time to keep aside personal differences to ensure inclusion and recognize shared interests.
Bitcoin Magazine Co-founder David Bailey thanked Garlinghouse for extending the “olive branch” and for the “acknowledgment that Bitcoin mining is GREEN.”
Was the donation entirely in good faith, or is there a hidden message?
Garlinghouse’s major statement and gesture have led the XRP community and crypto enthusiasts to speculate that Ripple may want to send a bold message to the global crypto community about their rising influence and potential supremacy over Bitcoin.
An X user, Edo Farina, tweeted a comment that drew attention: “If the CEO of a company hands you the skull of your king… that’s not a gift.”
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Just Dropped
XChat: Musk Unveils New Messaging App for X
Tesla and SpaceX CEO Elon Musk rolls out XChat, a new encrypted messaging tool, the newest upgrade for X (formerly Twitter) with features like vanishing messages, audio/video calls, and file sharing.
On Sunday, Musk took to his X handle and announced the launch of XChat, indicating a major overhaul of X’s current messaging system.
What is XChat?
Built on a “whole new architecture,” XChat is a part of Musk’s broader vision of creating a dedicated all-in-one messaging app, exclusive to X users.
Inspired by WhatsApp, Telegram, or WeChat, XChat is a privacy-focused “everything app” that will integrate “Bitcoin-style encryption.” It will allow XChat users to share files or chat securely across platforms with fellow users. Subscribers can make audio or video calls across different platforms without using their phone numbers, giving direct competition to other popular communication platforms like Zoom, Google Meet, or Discord.
Musk’s “everything app” aligns with his long-term pursuit of creating a fully-fledged platform that provides “end-to-end encryption” and could compete with China’s WeChat.
Though Musk did not disclose the technical details, he mentioned that the encryption architecture is based on the Rust programming language. It ensures encrypted messaging similar to popular platforms like WeChat, Telegram, and WhatsApp.
Who can access XChat?
Currently, XChat is in beta mode and available to selected paid subscribers. Reportedly, messages are protected by 4-digit passcodes with a “vanishing mode” for added privacy.
Will there be a free plan for XChat users? Let’s wait and watch.
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In Other News
Lazarus Hackers Exposed – Crypto Heist Goes Wrong
In an unexpected turn of fate, the infamous North Korean hackers, the Lazarus Group, known for their notorious crypto heists, got exposed after a failed phishing attempt.
Notably, the widely known North Korean government-backed hackers have looted several exchanges like Bybit and Phemex, offering sham projects and misleading ventures.
Reportedly, a member of the Lazarus Group impersonated a collaborator for a fake NFT project and messaged a BitMEX employee on LinkedIn. Fortunately, the employee was smart enough to identify that this might be a phishing attempt and alerted BitMEX security.
BitMEX security conducted a thorough investigation and tracked the Lazarus Group’s IP addresses and unsecured Supabase. Surprisingly, the database was free to access and did not require any authentication. BitMEX uncovered 37 compromised device logs, their operational hours, hierarchy of hackers and their operations, time stamps, and geolocations.
One of the major errors in their phishing attempt occurred when a hacker named “Victor” failed to use a VPN for their operations, which may have led to the major exposure. The insecure Supabase revealed the hacker’s identity, and also Lazarus’s VPN services.
Trump Wallet Drama Unfolds: Sons Deny Involvement
President Donald Trump is back in action with his latest crypto venture, the launch of the “Official $TRUMP Wallet,” which soon stirred a rift between Trump and his sons.
On Tuesday, the Trump-backed crypto wallet announced a waitlist on its website, trumpwallet.com. The digital app will allow users to store, swap, and conduct crypto transactions. Crypto researcher and critic Molly White initially discovered the website.
According to the website, GetTrumpMemes.com has partnered with the popular NFT marketplace, Magic Eden. After its initial announcement on the website, Magic Eden posted an announcement on their official X account.
The announcement did not go well with Trump’s sons
Eric Trump took to his X account and said he knew “nothing about this project!” To deepen the fallout, his brothers, Donald Trump Jr. and Barron William Trump, announced on their respective X accounts that “Trump Organization has zero involvement with this wallet product.” Donald Trump Jr. added that they will soon launch their official wallet in partnership with the World Liberty Financial.
The sons' reaction indicates the rise of potential conflict of interests and underlying tension with Trump’s growing crypto ambitions.
💡Good To Know
What is Phishing?
Phishing or phishing attack is a cyber threat that tricks victims, like crypto investors or exchanges, into sharing or giving up their personal information, like account login credentials or wallet addresses. The attacker may send emails or text messages with links to a website that may look genuine, but once the victim clicks on the link, the attacker gets immediate access to the victim’s account.
Be cautious. Do not click on unknown or suspicious links or attachments.
Keep your OS and device up-to-date. Enable 2FA and use strong passwords.
Always use a known and reputable exchange for crypto trading and investments.
⚠️ Always DYOR: Do your due diligence before participation. 🛡️
🌐 Market Map
The global crypto market cap on Wednesday, 4th June is $3.44 trillion with🔻2.6% down over the last 24 hours.
🍿 Quick Bytes
“The Walking Dead” Ethereum NFT Game Is About to Be Killed Off. Decrypt
Arthur Hayes Predicts Bitcoin to Hit $250K in 2025 and $1M by 2028. Binance
Ripple Presents XRP, RLUSD to Replace SWIFT’s Outdated Payment System. Bitcoin.com News
Strike CEO says proof of reserves lending is “gonna change the world.” The Street Roundtable
🤡 This Week’s Meme Drop
That’s it for this week, guys!
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Disclaimer: The information provided in this newsletter is educational and not intended for any investment or financial advice.