BTC Dev Wants to 'Fix' Ordinal Inscription 'Exploit,' Blackrock Updates ETF Filing, and More — Week in Review

BTC developer Luke Dashjr wants to “fix” Bitcoin Ordinal inscriptions, as he views them as exploitative, dividing the crypto community. In other news, in a spot bitcoin exchange-traded fund (ETF) filing update, monolithic asset manager Blackrock has noted the possibility of BTC being legally classified as a security. This and more, just below, in the latest Bitcoin.com News Week in Review.

Bitcoin Developer Luke Dashjr States Inscriptions Are Exploits, Hints at Future Fix

Luke Dashjr, bitcoin developer and Mummolin’s CTO, has reiterated his negative opinion about Ordinal inscriptions, stating these leverage and exploit a vulnerability in the Bitcoin Core full node software implementation. Dashjr also hinted at correcting this “exploit” in an upcoming version of the Bitcoin node software.

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Blackrock's New Spot Bitcoin ETF Filing Addresses Potential Classification of BTC as a Security by SEC

Blackrock’s Spot Bitcoin ETF Filing Update Addresses Potential Classification of BTC as a Security by SEC

Blackrock, the world’s largest asset manager, has warned in its latest spot bitcoin exchange-traded fund (ETF) filing update of the potential for bitcoin to be classified as a security by the U.S. Securities and Exchange Commission (SEC), state regulators, or court rulings. “If a digital asset is determined or asserted to be a security, it is likely to become difficult or impossible for the digital asset to be traded, cleared or custodied in the United States through the same channels used by non‑security digital assets,” Blackrock cautioned.

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Bitcoin Breaks $ 40K Barrier — Highest Value in Nearly Two Years

On Sunday, December 3, 2023, bitcoin’s value surged past the $ 40K mark, peaking at $ 40,846 at 8:45 p.m. Eastern Time. Over the past week, bitcoin has witnessed an 8.4% increase and a 3% rise in the past 24 hours, achieving a peak that the cryptocurrency hadn’t seen in 19 months.

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Report: Bankman-Fried Struggles With Extortion Attempts Behind Bars in Brooklyn's MDC

Report: Bankman-Fried Struggles With Extortion Attempts Behind Bars in Brooklyn’s MDC

Sam Bankman-Fried (SBF), previously a key figure in the crypto sphere, encountered a stark contrast to his past life at the Metropolitan Detention Center (MDC) in Brooklyn. Gene Borrello, a past mob enforcer for the Bonanno crime family, shared insights with journalist Tiffany Fong about the daily challenges SBF faces in prison. Borrello’s revelations paint a picture of SBF grappling with threats of extortion and bouts of depression.

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