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Lugui Tillier is the sales manager for Lumx Studios, one of the top cryptocurrency firms in Rio de Janeiro — a city with a burgeoning crypto industry.

But for Tillier — who holds dual citizenship between Belgium and Brazil — cryptocurrency is more than a job. It was a passion sparked by a friend, and it evolved into his first full-time crypto job with Lumx in 2021.

1) How did you get into crypto?

I was very fortunate because the father of one of my closest friends was the one who founded the first crypto firm here in Brazil in 2016 — BLP Crypto. Before that, he was always talking to me about crypto and blockchain, telling me it was the future and that I should learn more about it. So around 2019, I finally listened to him and started studying Bitcoin. I started working for Lumx in 2021.

2) Tell us about Lumx and what you do for them.

We are a blockchain abstraction solution for big enterprises. We help anyone who wants to integrate blockchain into their business, or companies that want to deploy projects or experiment on blockchain. We do things like payment solutions and decentralized identity (DID) solutions.

Big companies can mostly focus only on their own applications — not on hiring blockchain engineers or learning about blockchain technology and infrastructure, which is still complex. So we enable those big companies to work and test safely. I’m the manager of sales for Lumx, so I’m the one responsible for building and maintaining relationships with blockchains and protocols.

3) Do you invest in crypto yourself? What do you take the most interest in right now?

Lugui Tillier
Lugui Tillier at the Savvy Brain Academy in Tanzania, a school he began donating to in 2017 using Bitcoin. Source: Lugui Tillier

I’m investing a lot in layer 2s. (I like Polygon, Arbitrum, and ZK solutions — such as ZK-Sync and Linea.) In the last cycle, we saw a lot of projects start on Ethereum, and that was unsustainable. We were paying $50 (or more) per transaction. There were days that we had gas wars, and people were paying almost six Ethereum per transaction.

I still don’t know if there was just a lack of knowledge that you could build stuff on a layer 2 among new projects and companies at the time. But people wanted to have exposure to Ethereum, so stuff that should have been happening on layer 2s was happening on Ethereum.

Liquidity is flowing to layer 2s now, so layer 2s are more prepared for the next wave.

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I also really like Bitcoin Ordinals and Ordinal Maxi Biz (OMB). We’re having an explosion of nonfungible tokens (NFTs) being built on Bitcoin, the biggest blockchain in the world. Being able to trade and express culture — it’s really amazing. That’s why I really like Ordinals.

I believe that Ordinals will perhaps capture the most of this new culture and way of expressing everything on Bitcoin. Ordinals help to express the core values of Bitcoin in a much more friendly way than Bitcoin, which is too technical or harsh for some people.

4) Where do you see Bitcoin and Ethereum in 10 years?

I think I see Bitcoin and Ethereum as the main consensus platforms in the world. This is curious, because nowadays it’s rare to see Bitcoin as a platform. We already see Ethereum as a platform where you have other applications and layers to build around it. Because of the advancements of some protocols — like Taproot Assets and Ordinals — I see Bitcoin venturing into a new era.

Related: Bitcoin fragments could become more valuable than full Bitcoins

Besides being a currency to pay for stuff, or a store of value, you will be able to store other currencies on it. Bitcoin is moving from an era where it’s been an asset to an era where it will be a platform for storing and trading other assets.

5) What is the main hurdle to mass adoption of blockchain technology?

Lugui Tillier
Lugui Tillier (second from right) in 2022 speaking at NFC Brasil, one of the main Web3 events in Latin America, where he shared his experience of working with traditional companies in Web3. Source: Lugui Tillier

Even though we have made significant progress, blockchain is still composed of complex infrastructure. It’s complicated not just for end-users, but also for traditional companies that want to work with it. I often joke that you only realize how complex MetaMask is when you try to teach your father how to use it — hence the importance of the emerging abstraction solutions.

While these solutions may slightly compromise decentralization, they preserve a blockchain’s programmability and automation and significantly lower the barrier to entry. This is crucial because now we have a second option. People can stay 100% decentralized if they prefer it, but for those who do not, they have the option of adopting a “semi-decentralized” model, which is the missing link to mainstream adoption.

6) What do you do in your free time?

I really like to study philosophy, especially stoicism. Everyone who works or lives in this crypto world is exposed to a lot of volatility, and they’re used to a lot of dopamine and incentives. I like stuff that you are not able to control, so I like the stoic philosophy. The mantra of stoicism is to cultivate different stuff that you are not able to control. When you master this, you are able to live in peace in this crazy crypto world. So it’s one of my favorite subjects — not only for my personal life, but also for my professional life.

Editorial Staff

Cointelegraph Magazine writers and reporters contributed to this article.

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Pavel Durov rejects EU pressure to censor Romanian election content

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Pavel Durov rejects EU pressure to censor Romanian election content

Pavel Durov rejects EU pressure to censor Romanian election content

Telegram founder Pavel Durov said he rejected pressure from a European Union (EU) country to censor political content on the social media platform ahead of the May 18 presidential elections in Romania.

According to Durov, a Western European government, which he hinted at with a baguette emoji, approached the platform and requested it censor conservative voices, which he flatly denied. Durov wrote in a May 18 Telegram post:

“You can’t ‘defend democracy’ by destroying democracy. You can’t ‘fight election interference’ by interfering with elections. You either have freedom of speech and fair elections — or you don’t. And the Romanian people deserve both.”

The Telegram founder is an ardent defender of free speech, who is highly regarded in the crypto community for his stances on freedom of expression, autonomy, privacy, and individual liberty.

Pavel Durov rejects EU pressure to censor Romanian election content
Source: Pavel Durov

Related: Pavel Durov says Telegram would exit markets before betraying users

Durov thrust into the spotlight following arrest in France

Pavel Durov was arrested in France in August 2024, sparking widespread condemnation from the crypto community and free speech advocates worldwide, who accused the French government of orchestrating a politically-motivated arrest.

French President Emmanuel Macron denied the arrest was political while claiming the French government was “committed to freedom of expression and communication” in an August 26 X post.

“You can’t keep founders personally liable, and charge them up to 20 years, for not moderating speech, and at the same time claim you are deeply committed to freedom of expression,” Helius Labs CEO Mert Mumtaz wrote in response to Macron.

Shortly after Durov’s arrest, Chris Pavlovski, the CEO of Rumble — a free speech online video platform — announced that he safely departed the European Union after France threatened Rumble.

The CEO also criticized the French government for the arrest of the Telegram co-founder, characterizing it as an attempt to pressure him into censoring speech on the platform.

Durov maintains that Telegram complies with lawful information requests made by law enforcement officials and said that the company has a legal representative in France who handles such requests.

The Telegram co-founder also criticized the French government for bypassing the legal representative and choosing to issue an arrest warrant instead.

Magazine: Did Telegram’s Pavel Durov commit a crime? Crypto lawyers weigh in

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Post-Brexit EU reset negotiations ‘going to the wire’, says minister

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Post-Brexit EU reset negotiations 'going to the wire', says minister

Negotiations to reset the UK’s post-Brexit relationship with the EU are going “to the wire”, a Cabinet Office minister has said.

“There is no final deal as yet. We are in the very final hours,” the UK’s lead negotiator Nick Thomas-Symonds told Sky’s Sunday Morning with Trevor Phillips.

On the possibility of a youth mobility scheme with the EU, he insisted “nothing is agreed until everything is”.

“We would be open to a smart, controlled youth mobility scheme,” he said. “But I should set out, we will not return to freedom of movement.”

Politics latest: PM outlines ‘benefits’ for UK from closer EU ties

The government is set to host EU leaders in London on Monday.

Put to the minister that the government could not guarantee there will be a deal by tomorrow afternoon, Mr Thomas-Symonds said: “Nobody can guarantee anything when you have two parties in a negotiation.”

But the minister said he remained “confident” a deal could be reached “that makes our borders more secure, is good for jobs and growth, and brings people’s household bills down”.

“That is what is in our national interest and that’s what we will continue to do over these final hours,” he said.

“We have certainly been taking what I have called a ruthlessly pragmatic approach.”

On agricultural products, food and drink, Mr Thomas-Symonds said supermarkets were crying out for a deal because the status quo “isn’t working”, with “lorries stuck for 16 hours and food rotting” and producers and farmers unable to export goods because of the amount of “red tape”.

Asked how much people could expect to save on shopping as a result of the deal the government was hoping to negotiate, the minister was unable to give a figure.

Read more:
What could a UK-EU reset look like?
Starmer’s stance on immigration criticised

On the issue of fishing, asked if a deal would mean allowing French boats into British waters, the minister said the Brexit deal which reduced EU fishing in UK waters by a quarter over five years comes to an end next year.

He said the objectives now included “an overall deal in the interest of our fishers, easier access to markets to sell our fish and looking after our oceans”.

Turning to borders, the minister was asked if people would be able to move through queues at airports faster.

Again, he could not give a definitive answer, but said it was “certainly something we have been pushing with the EU… we want British people who are going on holiday to be able to go and enjoy their holiday, and not be stuck in queues”.

PM opens door to EU youth mobility scheme

A deal granting the UK access to a major EU defence fund could be on the table, according to reports – and Prime Minister Sir Keir Starmer has appeared to signal a youth mobility deal could be possible, telling The Times that while freedom of movement is a “red line”, youth mobility does not come under this.

The European Commission has proposed opening negotiations with the UK on an agreement to facilitate youth mobility between the EU and the UK. The scheme would allow both UK and EU citizens aged between 18 and 30 years old to stay for up to four years in a country of their choosing.

Earlier this month, Home Secretary Yvette Cooper told Phillips a youth mobility scheme was not the approach the government wanted to take to bring net migration down.

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Return to customs union ‘remains a red line’

When this was put to him, Mr Thomas-Symonds insisted any deal on a youth mobility scheme with Europe will have to be “smart” and “controlled” and will be “consistent” with the government’s immigration policy.

Asked what the government had got in return for a youth mobility scheme – now there had been a change in approach – the minister said: “It is about an overall balanced package that works for Britain. The government is 100% behind the objective of getting net migration down.”

Phillips said more than a million young people came to the country between 2004 and 2015. “If there isn’t a cap – that’s what we are talking about,” he said.

The minister insisted such a scheme would be “controlled” – but refused to say whether there would be a cap.

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‘It’s going to be a bad deal’

Shadow cabinet office minister Alex Burghart told Phillips an uncapped youth mobility scheme with the EU would lead to “much higher immigration”, adding: “It sounds very much as though it’s going to be a bad deal.”

Asked if the Conservatives would scrap any EU deal, he said: “It depends what the deal is, Trevor. And we still, even at this late stage, we don’t know.

“The government can’t tell us whether everyone will be able to come. They can’t tell us how old the young person is. They can’t tell us what benefits they would get.

“So I think when people hear about a youth mobility scheme, they think about an 18-year-old coming over working at a bar. But actually we may well be looking at a scheme which allows 30-year-olds to come over and have access to the NHS on day one, to claim benefits on day one, to bring their extended families.”

He added: “So there are obviously very considerable disadvantages to the UK if this deal is done in the wrong way.”

Jose Manuel Barroso, former EU Commission president, told Phillips it “makes sense” for a stronger relationship to exist between the European Union and the UK, adding: “We are stronger together.”

He said he understood fishing and youth mobility are the key sticking points for a UK-EU deal.

“Frankly, what is at stake… is much more important than those specific issues,” he said.

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Retired artist loses $2M in crypto to Coinbase impersonator

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Retired artist loses M in crypto to Coinbase impersonator

Retired artist loses M in crypto to Coinbase impersonator

Retired artist Ed Suman lost over $2 million in cryptocurrency earlier this year after falling victim to a scam involving someone posing as a Coinbase support representative.

Suman, 67, spent nearly two decades as a fabricator in the art world, helping build high-profile works such as Jeff Koons’ Balloon Dog sculptures, according to a May 17 report by Bloomberg.

After retiring, he turned to cryptocurrency investing, eventually accumulating 17.5 Bitcoin (BTC) and 225 Ether (ETH) — a portfolio that comprised most of his retirement savings.

He stored the funds in a Trezor Model One, a hardware wallet commonly used by crypto holders to avoid the risks of exchange hacks. But in March, Suman received a text message appearing to be from Coinbase, warning him of unauthorized account access.

After responding, he got a phone call from a man identifying himself as a Coinbase security staffer named Brett Miller. The caller appeared knowledgeable, correctly stating that Suman’s funds were stored in a hardware wallet.

He then convinced Suman that his wallet could still be vulnerable and walked him through a “security procedure” that involved entering his seed phrase into a website mimicking Coinbase’s interface.

Nine days later, a second caller claiming to be from Coinbase repeated the process. By the end of that call, all of Suman’s crypto holdings were gone.

Retired artist loses $2M in crypto to Coinbase impersonator
Crypto scammers impersonate Coinbase support. Source: NanoBaiter

Related: Bitcoin breaks out while Coinbase breaks down: Finance Redefined

Coinbase suffers major data breach

The scam followed a data breach at Coinbase disclosed this week, in which attackers bribed customer support staff in India to access sensitive user information.

Stolen data included customer names, account balances, and transaction histories. Coinbase confirmed the breach impacted roughly 1% of its monthly transacting users.

Among those affected was venture capitalist Roelof Botha, managing partner at Sequoia Capital. There is no indication that his funds were accessed, and Botha declined to comment.

Coinbase’s chief security officer, Philip Martin, reportedly said the contracted customer service agents at the center of the controversy were based in India and had been fired following the breach.

The exchange has also said it plans to pay between $180 million and $400 million in remediation and reimbursement to affected users.

Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

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