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DarkFi, the privacy-focused crypto project spearheaded by early Bitcoin developer Amir Taaki, has unveiled a working alpha version of its app. It marks the latest release for the community of coders, artists and technologists that have been quietly tinkering in the shadows for years.
The app, teased in a pre-alpha release last fall, is essentially a fully anonymous IRC (internet relay chat) today. However, Taaki plans to grow it into a useful product garden.
“It will be very quick to start expanding, adding, because we already have a lot of features like the anonymous DAO, the wallet, the blockchain,” Taaki told The Block in an interview. “All of that is running already, it's just not in a product.”
Built from the ground up — including an entirely original UI designed by Taaki and his team in-house — the messaging component of the platform can run over Tor and is fully peer-to-peer.
“There's no registration, there's no identity, there's no linkability between messages,” said Taaki. “That's the strongest anonymity that you can get.”
DarkFi’s launch comes at a time both familiar and unsettling to longtime cryptographers. If Taaki had been told in 2011 — when, at the age of 23, he launched Libbitcoin, the first alternative Bitcoin implementation — that privacy advocates like Alexey Pertsev would be prosecuted in the U.S. 14 years later for developing anonymizing tools like Tornado Cash, he likely wouldn’t have been surprised.
A strong ideologue for freedom who took up arms against the Islamic State in Syria in 2015, Taaki has become deeply disillusioned by the direction of the crypto industry.
“Cryptocurrency is about routing around censorship, as Satoshi laid down the gauntlet,” he said. “There’s that that Gnutella/P2P quote where he said ‘we're like a Hydra, you cut a head off, another one pops up. This will expand the space of freedom.”
“But it hasn't played out. Crypto has got institutionally captured because there's been no anonymity. You can't change things if you don't have the offensive means, the use of strong cryptography.”
While Taaki has some reluctant respect for Ethereum’s neutral tech stack, he believes a stronger focus on specific use cases is necessary.
“We're not in 2012 anymore," he said. "We have a good sense of what the core use case is that you need to cater for so you can have a really strong compelling offering for people.”
He’s also critical of today’s consumer tech. He finds Signal Messenger’s design — potentially a competitor to DarkFi — uninspired.
“It's just an awful looking app, it's just atrocious — the amount of white space, there's just filler, it doesn't efficiently use your screen,” Taaki said. “So the app is not really built for people to be productive.”
Taaki’s goal is ultimately to build functional and freeing technology. He said that DarkFi has taken the time to get the details right—or “consolidated the territory you've taken already”—before rushing out features.
For one thing, DarkFi’s bespoke UI is natively cross-platform, meaning that it runs across Android, iPhone, Mac, Windows and Linux as a single implementation. That contrasts with Signal, which has two completely different builds between Android and Apple.
Some assume DarkFi will be difficult to use because of the technology under the hood, but Taaki rejects that idea.
“We're not making an elitist thing," he said. "We are making something that you load it and it works — we're not treating people like stupid cattle.”
That said, Taaki is realistic about the current state of the product, which, in alpha, “is not polished.”
“You know, there’ll be random bugs and stuff,” he said. “But it's good to get things out there.”
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Injective Protocol has deployed a governance proposal to launch the first-ever on-chain S&P 500 Index. If approved, the release is scheduled for February 10.
Refer to the official tweet by INJ:
Injective 🥷@injectiveFeb 06, 2025Injective has deployed a brand new governance proposal to launch the first ever on-chain S&P 500 Index.
If approved, the release will occur on Monday, setting a massive milestone for all of finance.
The future of RWAs is here. The future of finance is here on $INJ pic.twitter.com/wvavSOtV6i
INJ Info
Injective Protocol is a decentralized exchange (DEX) protocol built on the Cosmos SDK, offering advanced cross-chain trading capabilities.
Key features of Injective Protocol include:
1. Decentralization: On the Injective platform, users have full control over their funds, with no third-party intervention.
2. Cross-chain trading: Injective supports trading between different blockchains, providing users with a wide range of tradable assets.
3. High performance: Injective utilizes the Tendermint consensus system, ensuring high throughput and low transaction latency.
4. Gas-free transactions: Users can trade without the need to pay gas fees.
INJ is the native token of Injective Protocol. The token is used for protocol governance, staking, and participation in voting processes that address key protocol upgrades and management decisions.
Chiliz will release the official BSC Young Boys Playercards for the '24/’25 season on February 7th at 11:00 UTC. The collection features 26 players from the Young Boys team and will be exclusively available on the Chiliz Chain.
Refer to the official tweet by CHZ:
Chiliz - The Sports Blockchain âš½🏆@ChilizFeb 06, 2025Dropping Tomorrow 🔜 YB Playercards '24/'25
The official @BSC_YB Playercards of the '24/'25 season featuring 26 Young Boys players is dropping exclusively on Chiliz Chain tomorrow.
February 7th, 12:00 CET 👉 https://t.co/eMYaaXnRVW pic.twitter.com/vGkbmGnAQ4
CHZ Info
Chiliz (CHZ) is a digital currency for sports and entertainment platforms. It was developed by the Socios platform, which aims to provide blockchain-based solutions to the sports industry. Chiliz enables fans to purchase branded Fan Tokens, which gives them the ability to participate in fan-led decisions through a mobile voting platform. By owning Fan Tokens, the fans gain the influence to guide club-specific decisions and earn rewards. For instance, fans can vote on club-specific decisions such as jersey designs, game-day activities, and new signings. The CHZ token is used as the native digital currency on the Socios.com platform.
f(x) Coin will host an AMA on X with David Ben Kay, president of Pundi AI, to discuss the forthcoming token upgrade and the launch of the Pundi AI Data Marketplace. The event is scheduled for February 12th at 12:00 PM UTC.
Refer to the official tweet by FX:
Pundi AI@PundiAIFeb 07, 2025With the upcoming token upgrade and later the launch of the Pundi AI Data Marketplace, we're excited to once again welcome @DavidBenKay, President for @PundiAI, for another AMA!
🗓ï¸ 12 Feb 2025, 8PM UTC+8
FX Info
Function X is a blockchain network designed to replicate and innovate upon traditional financial products by offering decentralized financial solutions and a trading system. Its architecture is built upon a multichain framework, known as subnets, which is both customizable and scalable to cater to diverse business requirements.
The network operates with two primary subnets: one facilitates global retail payments by processing transactions on-chain, and the other supports the trading of cryptocurrency-based perpetual contracts and other derivatives. A distinctive feature of Function X is its compatibility with the Ethereum Virtual Machine (EVM). This compatibility ensures that developers can swiftly migrate their decentralized applications (dApps) to Function X, benefiting from reduced fees and enhanced security. Notably, Function X is among the pioneering projects to integrate an EVM-compatible chain within a Cosmos-based framework.
FX coin is a native token within the Function X ecosystem. It functions both as a governance token and a gas token for f(x)Core and f(x)EVM operations. Subnets within the ecosystem have the option to adopt FX as their gas token. Of its total supply, 20% was introduced during the Token Generation Event, while the remaining 80% is set to be distributed over 15 years, following a Proof of Service (PoS) model. This model rewards service providers for offering quality services within the ecosystem. The token’s maximum supply is capped at 1,893,022,622.314.
CoinDesk Bitcoin Price Index is down $1141.42 today or 1.18% to $95752.70
Note: CoinDesk Bitcoin Price Index (XBX) at 4 p.m. ET close
Data compiled by Dow Jones Market Data
The Dogecoin price has started out this month with a crash, sparking a bearish sentiment among DOGE investors. This bearish sentiment is further strengthened by historical data, which suggests that these investors shouldn’t be too optimistic about the foremost meme coin recording significant gains this month.
Dogecoin Starts February With 23% As Historical Data Paints Bearish Picture
CryptoRank data shows that the Dogecoin price has suffered a 23% crash since the start of February. This follows the monthly green close, which the foremost meme coin enjoyed in January, with a 4% gain in the first month of the year. Amid this price crash since the start of this month, historical data also points to a bearish outlook for DOGE throughout this month.
Further data from CryptoRank shows that February is historically a bearish month for Dogecoin. The foremost meme coin has suffered a monthly average loss of 1% in February since it launched in 2013. DOGE has had only four monthly green closes in February over the last twelve years.
However, it is worth mentioning that Dogecoin has only once closed out February with a loss of over 20%, which was in 2014, when its price crashed by over 30%. As such, the meme coin could still witness a relief bounce, which could lessen the severity of the 23% price crash suffered since the start of this month.
Meanwhile, despite the historical data painting a bearish outlook for Dogecoin, crypto analysts have provided a bullish outlook for the meme coin. Crypto analyst Master Kenobi recently highlighted a similarity between DOGE’s current price action and that of the 2017 bull run. Based on the similarities, he predicted that Dogecoin could soon begin the next leg of its bull run, rallying above $1 and reaching a market peak sometime in April.
DOGE Can Still Reach $10 In This Cycle
In an X post, crypto analyst Ali Martinez predicted that Dogecoin could still reach $10 in this market cycle. He stated that as long as DOGE holds above $0.19, the setup for a parabolic rally toward $10 remains strong. The analyst added that momentum is building for the foremost meme coin, indicating that it could soon begin the next leg of its bull run.
Crypto analyst Trader Tardigrade predicted that Dogecoin could at least reach $4.5. He stated that DOGE’s Average Directional Index (ADX) signals a potentially massive bull run on the horizon. The ADX measures trend strength by quantifying the degree of directional movement in price. Analyzing the weekly chart, the analyst asserted that a “super strong trend” could happen soon and will reach its peak in the coming weeks as the meme coin reaches $4.5.
At the time of writing, the Dogecoin price is trading at around $0.25, down over 4% in the last 24 hours, according to data from CoinMarketCap.
Tornado Cash developer Alexey Pertsev was released from prison custody on Feb. 7 and will remain on house arrest while he prepares his legal appeal.
On Feb. 6, a Dutch court suspended Pertsev’s pretrial detention, which began in August 2022 and was extended in a prior court ruling in November 2024.
As part of the pretrial release, Pertsev must be electronically monitored. “It is not real freedom, but it is better than prison,” the developer wrote in a Feb. 6 social media post.
Pertsev’s case raised alarm among privacy advocates, who decried the legal action as setting a dangerous precedent for privacy-preserving technologies and developers of immutable code.
Pertsev found guilty of money laundering, Tornado Cash fights US sanctions
The ‘s-Hertogenbosch Court of Appeal found Pertsev guilty of money laundering in May 2024 and sentenced the software developer to five years and four months in prison.
Dutch court officials found Pertsev guilty despite the developers of the Tornado Cash software having no control over the funds that pass through the protocol or the protocol itself.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash the same month Pertsev’s detention began.
Officials from the government regulator claimed that more than $7 billion in illicit funds had been laundered through the service since it launched in 2019.
OFAC also cited $455 million in funds purportedly stolen by the infamous North Korean hacking group Lazarus and allegedly laundered through Tornado Cash as a reason for sanctioning the service.
In November 2024, the US Fifth Circuit Appeals Court ruled that OFAC exceeded its congressional authority in sanctioning Tornado Cash’s immutable contracts.
A panel of judges for the court found that Tornado Cash contracts, which are lines of immutable code, were not property and could not be owned.
In January 2025, the US District Court for the Western District of Texas overturned the Tornado Cash sanctions, signaling a seismic shift for privacy tools and regulatory policy in the United States.
Like earlier rulings, the overturning of the OFAC sanctions against Tornado Cash represents a seminal case that will set precedents for digital privacy cases in the United States.
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