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1inch Network co-founder Sergej Kunz highlighted that mass adoption means people understand the noncustodial way. 289 Total views 8 Total shares Listen to article 0:00 Interview Own this piece of history

Collect this article as an NFT Sergej Kunz, the co-founder of decentralized finance (DeFi) protocol 1inch Network, sat down with Cointelegraph reporter Joseph Hall at Paris Blockchain Week 2023. The duo discussed various topics, including the limitations of investing for ordinary people, what mass adoption looks like and big companies jumping into the Web3 space.

Starting the interview, Kunz spoke about what people on the street may be interested in regarding the Web3 space. According to the 1inch executive, people are often very interested in putting their money where they will not lose it, and how to earn passively with their funds. However, Kunz explained that there are many limitations for your average investor. He said:Right now, you are very limited as a person, a normal person out there. You are very limited in products where you can invest. […] Just for example, for my daughter, I was asking the local bank in Germany to provide some products, but they couldnt even offer bonds.

Kunz also expressed some frustration about the potential earning percentages for bonds. Right now, you get like four percentage to five percentages for United States bonds, and they couldnt even offer this, he added. 1inch Networks Sergej Kunz sat down with reporter Joseph Hall to talk about the state of the crypto industry. Source: Cointelegraph

Besides limitations for investors, Hall and Kunz also discussed how people currently perceive the crypto space and what mass adoption looks like from Kunzs perspective. According to the 1inch co-founder, while people may think of crypto as a place to buy and sell digital assets, there are many more things within the space.

We have a decentralized computer around the globe where you can deploy applications that can be used by everyone and right now in a permissionless manner, he explained.

Related: Tether CTO on USDC depeg: Bitcoin maxis were right all along | PBW 2023

When asked about his teams thoughts on what mass adoption looks like, Kunz explained that peoples understanding and education would be the key to achieving this. He explained: As soon as we have people who understand the noncustodial way, this easy approach to interact with a lot of different services and also this easy way to pay for a coffee by scanning your QR code and paying with an Ethereum transaction. Then, we achieved mass adoption from our point of view.

Sharing his final thoughts on the interview, Kunz gave advice to those new to the DeFi space. Everyone who is new in this space, dont trust anyone. If someone tries to sell you anything, dont trust, verify, he said. According to Kunz, reading and getting knowledgeable before investing anything in DeFi or crypto would be best.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom #Event #Decentralization #Paris #Adoption #DeFi

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US announces it will increase steps to limit revenue of Venezuelan president Maduro – as he begins third term

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US announces it will increase steps to limit revenue of Venezuelan president Maduro - as he begins third term

The US has announced it has increased its reward for information leading to the arrest of Venezuelan President Nicolas Maduro.

In a statement on Friday, the US treasury said up to $25m is being offered for information leading to the arrest of Mr Maduro and his named interior minister Diosdado Cabello.

Up to $15m is also being offered for information on the incoming defence minister Vladimir Padrino. Further sanctions have also been introduced against the South American country’s state-owned oil company and airline.

The reward was announced as Mr Maduro was sworn in for a third successive term as the Venezuelan president, following a disputed election win last year.

Nicolas Maduro sworn in for a third term as president.
Pic: Reuters
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Sanctions from the US, UK and EU came as Maduro was sworn in for a third term as president. Pic: Reuters

Elvis Amoroso, head of the National Electoral Council, said at the time Mr Maduro had secured 51% of the vote, beating his opponent Edmundo Gonzalez, who won 44%.

But while Venezuela’s electoral authority and top court declared him the winner, tallies confirming Mr Maduro’s win were never released. The country’s opposition also insists that ballot box level tallies show Mr Gonzalez won in a landslide.

Nationwide protests broke out over the dispute, with a brawl erupting in the capital Caracas when dozens of police in riot gear blocked the demonstrations and officers used tear gas to disperse them.

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From July 2024: Protests after Venezuela election results

More than 2,000 demonstrators were arrested, and Mr Gonzalez fled to Spain to seek asylum in September.

While being sworn in at the national assembly, Mr Maduro said: “May this new presidential term be a period of peace, of prosperity, of equality and the new democracy.”

He also accused the opposition of attempting to turn the inauguration into a “world war,” adding: “I have not been made president by the government of the United States, nor by the pro-imperialist governments of Latin America.”

Lammy: Election ‘neither free nor fair’

The UK and EU have also introduced new sanctions against Venezuelan officials – including the president of Venezuela’s supreme court Caryslia Beatriz Rodriguez Rodriguez and the director of its criminal investigations department Asdrubal Jose Brito Hernandez.

Foreign Secretary David Lammy said Mr Maduro’s “claim to power is fraudulent” and that last year’s election “was neither free nor fair”.

“The UK will not stand by as Maduro continues to oppress, undermine democracy, and commit appalling human rights violations,” he added.

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Mr Maduro and his government have always rejected international sanctions as illegitimate measures that amount to an “economic war” designed to cripple Venezuela.

Those targeted by the UK’s sanctions will face travel bans and asset freezes, preventing them from entering the country and holding funds or economic resources.

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Donald Trump says he’s ‘totally innocent’ and thanks judge moments before no-penalty sentence in hush money case

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Donald Trump says he's 'totally innocent' and thanks judge moments before no-penalty sentence in hush money case

Donald Trump has been handed a no-penalty sentence following his conviction in the Stormy Daniels hush money case.

The incoming US president has received an unconditional discharge – meaning he will not face jail time, probation or a fine.

Manhattan Judge Juan M Merchan could have jailed him for up to four years.

The sentencing in Manhattan comes just 10 days before the 78-year-old is due to be inaugurated as US president for a second time on 20 January.

Trump appeared at the hearing by video link and addressed the court before he was sentenced, telling the judge the case had been a “very terrible experience” for him.

He claimed it was handled inappropriately and by someone connected with his political opponents – referring to Manhattan district attorney Alvin Bragg.

As it happened:
Trump sentenced in Manhattan court

Trump said: “It was done to damage my reputation so I would lose the election.

“This has been a political witch hunt.

“I am totally innocent. I did nothing wrong.”

Concluding his statement, he said: “I was treated very unfairly and I thank you very much.”

The judge then told the court it was up to him to “decide what is a just conclusion with a verdict of guilty”.

He said: “Never before has this court been presented with such a unique and remarkable set of circumstances.

“This has been a truly extraordinary case.”

He added that the “trial was a bit of a paradox” because “once the doors closed it was not unique”.

US President-elect Donald Trump is seen on the screen at Manhattan criminal court in New York, US, on Friday, Jan. 10, 2025.  JEENAH MOON/Pool via REUTERS
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Pic: Reuters

Prosecutor Joshua Steinglass had earlier argued in court that Trump “engaged in a campaign to undermine the rule of law” during the trial.

“He’s been unrelenting in his attacks against this court, prosecutors and their family,” Mr Steinglass said.

“His dangerous rhetoric and unconstitutional conduct has been a direct attack on the rule of law and he has publicly threatened to retaliate against the prosecutors.”

Mr Steinglass said this behaviour was “designed to have a chilling effect and to intimidate”.

It comes after the US Supreme Court rejected a last-ditch attempt by Trump to delay sentencing in the case on Thursday.

Trump’s lawyers argued that evidence used during the trial violated last summer’s Supreme Court ruling giving Trump broad immunity from prosecution over acts he took as president.

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Todd Blanche, attorney for former US President Donald Trump, and US President-elect Donald Trump are seen on the screen at Manhattan criminal court in New York, US, on Friday, Jan. 10, 2025.  JEENAH MOON/Pool via REUTERS
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Trump appeared via videolink with his attorney Todd Blanche. Pic: Reuters

Trump’s hush money conviction in May 2024 means he will become the first person convicted of a felony to assume the US presidency.

He was found guilty in New York of 34 counts of falsifying business records relating to payments made to Ms Daniels, an adult film actor, before he won the 2016 US election.

Prosecutors claimed he had paid her $130,000 (£105,300) in hush money to not reveal details of what Ms Daniels said was a sexual relationship in 2006.

Trump has denied any liaison with Ms Daniels or any wrongdoing.

The trial made headlines around the world but the details of the case or Trump’s conviction didn’t deter American voters from picking him as president for a second time.

FILE - Former U.S. President Donald Trump attends his trial for allegedly covering up hush money payments linked to extramarital affairs at Manhattan Criminal Court in New York, Tuesday, April 23, 2024. (Timothy A. Clary/Pool Photo via AP, File)
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Trump appears in court during his trial. Pic: AP

What is an unconditional discharge?

Under New York state law, an unconditional discharge is a sentence imposed “without imprisonment, fine or probation supervision”.

The sentence is handed down when a judge is “of the opinion that no proper purpose would be served by imposing any condition upon the defendant’s release”, according to the law.

It means Trump’s hush money case has been resolved without any punishment that could interfere with his return to the White House.

Unconditional discharges have been handed down in previous cases where, like Trump, people have been convicted of falsifying business records.

They have also been applied in relation to low-level offences such as speeding, trespassing and marijuana-related convictions.

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Family of Leicester City chairman killed in football stadium helicopter crash sue manufacturer for £2bn

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Family of Leicester City chairman killed in football stadium helicopter crash sue manufacturer for £2bn

Leicester City’s owners have launched a landmark lawsuit against a helicopter manufacturer following the club chairman’s death in a crash in 2018.

Vichai Srivaddhanaprabha’s family are suing Italian company Leonardo SpA for £2.15bn after the 60-year-old chairman and four others were killed when their helicopter crashed just outside the King Power Stadium in October 2018.

The lawsuit is the largest fatal accident claim in English history, according to the family’s lawyers. They are asking for compensation for the loss of earnings and other damages, as a result of the billionaire’s death.

The legal action comes more than six years after the fatal crash and as an inquest into the death of the 60-year-old chairman and his fellow passengers is set to begin on Monday.

FIEL - In this May 7, 2016, file photo, Vichai Srivaddhanaprabha applauds beside the trophy as Leicester City celebrate becoming the English Premier League soccer champions at King Power stadium in Leicester, England. 	ASSOCIATED PRESS
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Vichai Srivaddhanaprabha celebrating after Leicester City won the Premier League in 2016. Pic: AP

Mr Srivaddhanaprabha’s son Khun Aiyawatt Srivaddhanaprabha, who took over as the club’s chairman, said: “My family feels the loss of my father as much today as we ever have done.

“That my own children, and their cousins will never know their grandfather compounds our suffering… My father trusted Leonardo when he bought that helicopter but the conclusions of the report into his death show that his trust was fatally misplaced. I hold them wholly responsible for his death.”

The late Mr Srivaddhanaprabha’s company, King Power, was earning more than £2.5bn in revenue per year, according to his family’s lawyers. The lawsuit claims “that success was driven by Khun Vichai’s vision, drive, relationships, entrepreneurism, ingenuity and reputation.”

“All of this was lost with his death,” it adds.

The fatal crash took place shortly after the helicopter took off from Leicester’s ground following a 1-1 draw against West Ham on 27 October 2018.

The aircraft landed on a concrete step and four of the five occupants survived the initial impact, but all subsequently died in the fuel fire that engulfed the helicopter within a minute.

ovember 10, 2018 - Leicester, United Kingdom - A tribute to Vichai Srivaddhanaprabha during the Premier League match at the King Power Stadium, Leicester. Picture date: 10th November 2018. Picture credit should read: James Wilson/Sportimage.(Credit Image: © James Wilson/CSM via ZUMA Wire) (Cal Sport Media via AP Images)
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Thousands of tributes were left outside the ground in the wake of the tragedy. Pic: James Wilson/Sportimage

The other victims were two of Mr Srivaddhanaprabha’s staff, Nursara Suknamai and Kaveporn Punpare, pilot Eric Swaffer and Mr Swaffer’s girlfriend Izabela Roza Lechowicz, a fellow pilot.

Investigators found the pilot’s pedals became disconnected from the tail rotor – resulting in the aircraft making a sharp right turn which was “impossible” to control, before the helicopter spun quickly, approximately five times.

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The Air Accidents Investigation Branch described this as “a catastrophic failure” and concluded the pilot was unable to prevent the crash.

The lawsuit alleges the crash was the result of ‘multiple failures’ in Leonardo’s design process. It also alleges that the manufacturer failed to warn customers or regulators about the risk.

Sky News has contacted helicopter manufacturer Leonardo for comment.

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