This week, “Deconstruction” focuses on the pressure on Telegram, restrictions on open AI in the US, a system update for Lido, a law against scam centers in Myanmar, and debates around the BIP-110 patch in the Bitcoin network.
Pressure on Telegram
Governments are simultaneously targeting Telegram through criminal cases. Unlike the 2018 blockades, the scale is larger today as it involves a massive Web3 ecosystem based on the TON blockchain. Isolating the platform from legal banking transfers will directly impact its revenue.
Ordinary users are currently not at risk, but listing the company in the Rosfinmonitoring registry would automatically classify any payments to it as terrorist financing.
The Battle for Open AI
The US is attempting to block open-source neural networks under the guise of national security. Industry leaders warn about the dangers of centralization to progress.
For the crypto market, this poses a critical threat. The monopolization of AI technologies by the state and corporations would deprive independent Web3 startups of the ability to integrate advanced algorithms into their smart contracts.
Historic Lido Update
Lido is migrating assets worth $16.5 billion to a new architecture. The most significant change is the introduction of financial guarantees. Node operators are required to deposit collateral in ETH tokens to automatically cover potential losses.
The protocol is becoming a systemically important provider with mathematically secured staking. This paves the way for significant institutional capital inflow into Ethereum.
Crackdown on Asian Scam Factories
Myanmar has imposed severe prison sentences for organizers of fraudulent scam centers under direct pressure from China. The criminal industry is deeply intertwined with the state apparatus.
The dismantling of these factories directly benefits ordinary investors, as the number of wallet hacking attempts will sharply decrease. Globally, the dismantling of syndicates will deprive regulators of a key argument for imposing restrictions on honest crypto users.
Conflict Over BIP-110
The Bitcoin network is debating the BIP-110 patch to cleanse the blockchain of images and meme coins. The Bitcoin elite is categorically against any censorship. Forced activation of the update risks splitting the network into two parallel chains.
Institutional players will determine the outcome of the conflict. Funds like BlackRock demand absolute stability and would prefer to tolerate spam in the original network. The parallel branch risks being left without liquidity.
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