Bitcoin advocate criticized for backing wallet authentication project


Crypto Twitter is suing Nick Carter, a prominent Bitcoin (BTC) advocate, for participating in Dynamic, a third-party wallet authentication project that could block wallet transactions if the wallet is labeled as risky.

In a tweet, Carter shared his enthusiasm in supporting the project, tweeting Dynamic’s announcement of a recently completed $7.5 million increase led by Andreessen Horowitz (a16z). Then, Twitter users flocked to Carter, expressing their disappointment with the move.

Twitter user Lifetheuniverce argued that what Dynamic is creating is “the antithesis of what Bitcoin was created for.” The Twitter user said the community needs fewer permissions and less monitoring. According to Lifetheuniverce, they should be allowed to transact without any potential “veto power” from a third party.

Samson Mao, CEO of JAN3, a company that supports bitcoin adoption, criticized Carter, saying the move was “not something he would be proud of.” In addition, Twitter user Benthecarman also mocked Carter for supporting what he claimed was a “monitoring software”.

Despite the criticism, Carter stood his ground, responding to the allegations on Twitter. He also called his critics irrelevant and asked those who disagree with his investments to simply unfollow him on the social platform. “If you have any issues with what I or my company investing in, please go ahead and unfollow,” he wrote on Twitter.

Related: Bitcoin miners refute allegations US Democratic lawmakers made to EPA official

Earlier in June, lending platform Solend approved a whale wallet acquisition plan to avoid Solana whale divestitures (SOL) that could lead to the collapse of decentralized finance (DeFi). However, due to a backlash from community members, the project decided to create a second vote to invalidate the initial proposal.

Instead of forcibly taking over the whale’s wallet, Solend’s team decided to coordinate with the whale to find solutions such as transferring some of the debt to another DeFi platform called Mango Markets.



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