Welcome to the Ghostfi™ newsletter. We’re kind of like the Oracle in the Matrix movies but without the candy.

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Here’s what we have for you today:

• WTF is Ledger Thinking? An Exodus is Imminent.

• Unique PEPE wallets surpass the 112k mark

• The Ripple Showdown: Ripple's Legal Officer Takes a Swing with a 77-Year-Old Weapon to Knock Down SEC's Claims

• BlockFi chooses to eliminate its crypto lending business

• Rookies’ Corner

WTF is Ledger Thinking? An Exodus is Imminent.

Brace yourself for the latest drama in the world of hardware wallets! Ledger, the brilliant minds behind such groundbreaking products, has managed to ruffle some feathers with their oh-so-controversial feature called "Ledger Recover." Sounds promising!

So, what's all the fuss about? Well, this new addition to their firmware, version 2.2.1 for Ledger Nano X wallets, allows users to retrieve their secret recovery phrase. But wait, there's a catch! This amazing service comes with a small price tag and requires users to subscribe. Sounds like nickel and diming to us.

So why is everyone throwing a fit? Apparently, people are concerned that this subscription service contradicts the very purpose of having a hardware wallet. I mean, who wouldn't want to grant Ledger access to their seed phrases? It's not like privacy and security are important in the crypto world, right?

And here's another gem for you: the mandatory Know Your Customer (KYC) registration. Ledger wants users to provide a picture of their government-issued ID. Really? Because nothing screams "privacy" like handing over your personal information to a corporation. 🙄

But don't worry, this registration requirement only applies to users in certain countries. So, if you're lucky enough to live outside of the EU, the U.K., Canada, or the U.S., you can just sit back and watch the privileged few hand over their IDs. First World Big Brother BS!

Oh, but we can't forget about Ledger's history of data breaches. They've had not one, but two incidents that resulted in the theft of physical addresses and even extortion attempts. But hey, who needs trust when you can have shiny new features, right?

Let's not stop there, shall we? Ledger also faced criticism for their latest stroke of genius: a stylish necklace to hold their cold wallets. Because what could possibly go wrong with wearing your wallet around your neck like a trendy fashion statement? Thieves be damned!

Of course, Ledger defended their necklace, claiming it wouldn't grant access to all of your wealth. Because who needs to think about potential security risks when you're rocking the latest crypto fashion trends?

In conclusion, this whole fiasco just goes to show that hardware wallet manufacturers should prioritize security and respect user autonomy. But hey, who needs those silly principles when you can have flashy features and questionable choices, right? Very smooth, Ledger, bravo!

In the world of crypto, bear markets are tough, but they bring opportunities for innovation. Enter artificial intelligence (AI), ready to take Web3 to new heights. AI's proliferation and personalization offer a solution to simplify and strengthen blockchain use for everyday users. It can personalize the onboarding process, recommend digital assets, and improve security by examining on-chain data. For developers, AI can streamline smart contract auditing and offer optimizations. With AI's help, Web3 can unlock its goal of onboarding 1 billion users.

AI and blockchain are a perfect match, like peanut butter and jelly. AI's ability to personalize and improve applications presents a solution for Web3's challenges. It can analyze wallet history, recommend digital assets, and determine the best time to buy an NFT. AI also enhances security by examining on-chain data and preventing phishing attempts. For users, AI can simplify complex concepts with friendly chatbots, making blockchain more accessible. Developers benefit from AI's pre-auditing of smart contracts, saving time and costs. Together, AI and blockchain are shaping the future of Web3.

Unique PEPE wallets surpass the 112k mark

Brace yourselves for the jaw-dropping news: the number of unique wallets holding the new-prestigious cryptocurrency PEPE has soared to an all-time high of 112,794. It seems the masses are going wild for PEPE!

We have the diligent Twitter user @0xygenworld.eth to thank for closely monitoring this awe-inspiring surge in PEPE holders. In a recent tweet, this heroic individual shared the data, revealing an upward trend that would make your head spin. It seems the PEPE community is expanding faster than anyone could have imagined.

Let's take a stroll down memory lane, shall we? Back on April 17, the holder count was a mere 9,573. But oh, how things changed! Each passing day brought consistent growth, and by April 18, the count skyrocketed to a whopping 17,004. I hope you're still holding onto your socks because things only got more intense from there. On April 30, the holder count smashed through the 60,000 mark, marking a momentous occasion for the cryptocurrency. Can you feel the MEME coin excitement in the air?

Of course, our vigilant Twitter user is quick to remind us that these figures represent unique wallets holding PEPE. We mustn't forget that some investors may have the audacity to sell or transfer their holdings, causing fluctuations and potentially decreasing the holder count. Oh, the horror! Who would ever want to let go of their precious PEPE?

And let's not overlook the fact that PEPE recently made its grand debut on Binance, a prominent cryptocurrency exchange. This listing happened on May 11, and it might have led to an influx of exchange wallets, which could skew the holder count figures for that day. But hey, who needs accuracy when we can bask in the glory of ever-increasing numbers?

This astonishing surge in PEPE holders is a testament to the unstoppable rise of meme coins in the crypto community. Clearly, investors around the world have recognized the sheer potential of PEPE and its groundbreaking technology. With each new holder, PEPE's market presence and liquidity soar to new heights. It's a revolution, my friends!

So, sit back, relax, and prepare yourselves for the next mind-boggling developments and milestones in the world of PEPE. This is just the beginning, and the excitement is palpable. What a time to be alive!

GhostFi’s™ Recommend Exchange

The Ripple Showdown: Ripple's Legal Officer Takes a Swing with a 77-Year-Old Weapon to Knock Down SEC's Claims

In the never-ending legal showdown between Ripple and the SEC, both sides are like magicians desperately trying to find the weak spots in each other's tricks. It's a battle of wits, folks!

The latest act of this circus features Ripple's Chief Legal Officer, Stuart Alderoty, taking shots at the SEC's "common enterprise" argument. He gleefully reminded them of their failure in the ancient 1946 "Howey" case. Ouch, that's gotta sting!

Alderoty boldly declares that the SEC was wrong back then, and guess what? They're still wrong about XRP now! He argues that common interest and common enterprise are as different as a cat and a kangaroo, and the SEC's attempts to link all XRP holders into a common enterprise are simply absurd. It's like they're playing Twister with the Howey test!

Not to be outdone, the SEC insists that the fungibility of XRP is solid proof of a common enterprise. They claim that all XRP units are like interchangeable puzzle pieces, forming a beautiful (or maybe not so beautiful) common enterprise mosaic. Who knew crypto could be so artsy?

Meanwhile, the crypto community eagerly awaits the summary judgment date, hoping it'll bring an end to this legal rollercoaster. Will it happen in the first half of the year? Place your bets, ladies and gentlemen!

Throughout this spectacle, Ripple has managed to nab a few minor victories, much to the SEC's chagrin. It's like watching a cat chase a laser pointer, with Ripple cunningly slipping away at just the right moment. Meow, SEC, meow!

In the midst of it all, Ripple's CEO, Brad Garlinghouse, appeared at the XRP Las Vegas 2023 event, thanking the XRP community for their unwavering support. The crowd cheered, waved their digital wallets, and shouted, "You got this, Ripple!"

And as for the current state of XRP, it's trading at $0.43, barely flinching with a loss of less than 0.5% over the past 24 hours. It's like XRP is saying, "Hey, legal drama, do your worst. I'm still here, making moves and shaking the crypto world!"

BlockFi chooses to eliminate its crypto lending business

Oh, here's a juicy piece of news for you! BlockFi, the bankrupt crypto lender, has decided to go all out and liquidate instead of selling its cryptocurrency lending platform. Because, you know, who needs potential buyers when you can just throw everything into the liquidation mix?

According to a court document filed with the US bankruptcy court, BlockFi has come to the brilliant conclusion that a sale might not benefit its creditors. Such astute thinking! Who needs to consider the interests of creditors when you can just dissolve everything and call it a day?

Oh, and let's not forget the reason behind this genius decision. BlockFi apparently realized that a sale wouldn't generate any meaningful value. Well, color me surprised! Who would have thought that a struggling crypto lender with regulatory issues might not attract top dollar for its platform? Truly mind-blowing!

Of course, BlockFi did try to sell its lending platform earlier this year, hoping to find interested parties. They even threw in a bonus of 660,000 client accounts to sweeten the deal. But alas, recent regulatory issues have put a dampener on their dreams of striking gold. Poor BlockFi, facing obstacles at every turn.

But wait, there's more! BlockFi wants you to know that the hopes of clients and creditors getting any of their assets back depend on ongoing litigations against their commercial counterparties. Yes, they're leaving it all up to chance and legal battles. Because that's definitely a foolproof plan to secure over a billion dollars for clients. Good luck with that!

And just to add some extra spice to the mix, a US bankruptcy judge recently ruled that customers forfeited ownership of assets deposited in BlockFi's interest-bearing accounts. Wow, what a shocker! Turns out, transferring assets after withdrawals were halted doesn't count. Who could have seen that coming?

In conclusion, BlockFi's decision to liquidate instead of selling its platform is truly a masterstroke. Who needs potential buyers or a solid plan when you can just roll the dice and hope for the best? Bravo, BlockFi, bravo!

Rookies’ Corner

NFTs and Creators
Official MetaMask Learn Lesson 6.

🛠 Learn something new 🛠

Here we will feature tools, ideas, apps, software, methods, etc. that will help newbies ramp up their knowledge in this space.

Phantom Press

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.