News from the blockchain world #58 | Web3 opportunities & more 🚀
Hey, crypto people! 🔥 This week’s newsletter is packed with fresh updates and breakthroughs from the world of Web3 and blockchain. Whether you’re here for the latest trends or deep insights, we’ve got something for you. Let’s dive in and explore what’s happening in the crypto space! 🚀🌐
From this edition, you'll learn, a.o:
✨ What famous electronics company is developing its own blockchain?
✨ Who raised $75M to expand crypto-backed loan services?
✨ Which major crypto exchange plans to hire 1,000 people by the end of 2024?
✨ Who is the social media platform CEO that has been detained?
✨ Which U.S. state is planning to introduce its own stablecoin?
For the newest crypto opportunities, visit our page and explore curated airdrops, testnets, and NFTs.
Happy reading, and see you next week!
🔥 Nasdaq Seeks SEC Approval to Launch Bitcoin Index Options.
Nasdaq has submitted a filing to the SEC to introduce Bitcoin Index Options (XBTX), aimed at enhancing tools for both institutional and retail investors to manage cryptocurrency investments. In partnership with CF Benchmarks, these options will track Bitcoin prices using the CME CF Bitcoin Real-Time Index and offer European-style exercise and cash settlement. The move seeks to integrate digital assets more deeply into traditional financial markets and improve market liquidity, pending regulatory approval.
🔥 Bitpanda partners with CoinMENA to Expand Crypto Asset Services in the Middle East.
Crypto exchange Bitpanda has partnered with CoinMENA, a trading platform with operational licenses from the Central Bank of Bahrain and Dubai's Virtual Asset Regulatory Authority (VARA). This alliance aims to enhance CoinMENA’s efficiency and expand its digital asset offerings. Bitpanda will serve as a liquidity provider, improving trading performance and user experience on CoinMENA.
🔥 Bitget partners with KoinX to simplify crypto tax reporting.
Seychelles-based crypto exchange Bitget has partnered with KoinX to enhance cryptocurrency tax reporting for traders and investors. This integration will automate tax calculations, synchronize trading data, and generate comprehensive tax reports, making compliance with regional laws easier. The partnership aims to improve user experience by reducing manual entry errors and streamlining the tax filing process.
🔥 Nigerian Central Bank Affiliate Partners With Blockchain Startup Zone to Boost Payments.
he Nigeria Inter-Bank Settlement System (NIBSS) has partnered with decentralized payment infrastructure company Zone to enhance its Payment Terminal Service Aggregation (PTSA) operations. By integrating Zone's blockchain technology, NIBSS aims to streamline transaction routing, eliminate central failure points, and ensure compliance with Nigeria’s payment standards.
🔥 PayPal and Anchorage partner on PYUSD stablecoin rewards program.
PayPal and Anchorage Digital have teamed up to introduce a stablecoin rewards program for PayPal USD (PYUSD) tokens. This program allows users to earn yield on PYUSD balances held in Anchorage's self-custody wallet, Porto, or the crypto-native bank. The rewards program aims to increase institutional adoption of stablecoins by offering yield without staking or rehypothecation, keeping funds fully segregated. Despite growing interest and a significant rise in PYUSD's supply, regulatory uncertainties and potential legal challenges loom over the initiative.
🔥 $100 Million in Bitcoin: Leading the Charge in Institutional Cryptocurrency Adoption
The recent announcement of tradetide.net's substantial $100 million investment in Bitcoin showcases the firm's confidence in the digital asset's long-term potential. This strategic move not only highlights tradetide.net's market position but also underscores the growing institutional interest in Bitcoin as a mainstream investment tool. By leveraging cutting-edge technology and advanced algorithms, tradetide.net is positioned to lead in the cryptocurrency investment arena and drive innovation in the evolving market landscape.
🔥 $24M CryptoPunk NFT sold quietly as market interest fades
The most expensive CryptoPunk NFT, #5822, was sold for an undisclosed amount of Ether, marking the highest winning bid for a NFT from the collection. Despite speculation that the NFT was sold at a loss, the exact sale amount was not disclosed. With NFT sales volumes declining, the community's assumptions about the potential loss may not be unfounded. The sale comes as Sotheby's CryptoPunk NFT auction fails to attract much interest, with only one bid so far.
🔥 Web3 platform GAMEE secures investment from TON Ventures
The investment from TON Ventures in GAMEE, managed by a decentralised autonomous organisation (DAO), will allow the mobile games platform to integrate TON-based digital assets into its Telegram Mini App. This move aims to enhance user engagement, expand within the TON gaming ecosystem, and attract more gaming and Web3 communities as well as Telegram users to the TON Blockchain.
🔥 Ledn Secures $50 Million Bitcoin-Backed Loan From Sygnum
Ledn, a CeFi digital asset lending platform, announced it had borrowed $50 million from Sygnum, a Swiss digital asset bank, via a loan backed by Bitcoin.The loan is syndicated by Sygnum’s institutional clients, with Ledn describing the deal as the first Bitcoin-backed syndicated loan. Ledn offers Bitcoin-backed loans to both retail and institutional users. Ledn's loans are issued at a maximum loan-to-value (LTV) ratio of 50%, must be collateralized by at least $1,000 worth of BTC, and offer interest rates starting at 11.4%.
🔥 Sony is launching the first public testnet for its Optimism-based Soneium blockchain.
Sony Block Solutions Labs is launching a public testnet, Minato, for its Optimism-based Soneium blockchain, alongside a developer incubation program. The Soneium network, an Ethereum Layer 2 solution, aims to provide a cost-effective environment for building consumer applications. Early adopters include Circle, Optimism, and Astar Network. The initiative, a collaboration with Startale Labs, also features the Soneium Spark program, offering up to $100,000 in capital and support from Sony's subsidiaries.
🔥 Magic Eden Launches Mint Terminal for NFTs on Base Platform.
Magic Eden has launched the Mint Terminal, a platform that aggregates various minting platforms to provide users with a seamless experience in discovering and minting NFTs. The platform aims to streamline the process and enhance the NFT ecosystem by offering near-instant minting capabilities.
🔥 Animoca-Backed KOR Protocol Launches Decentralized Music Platform, KOR Player.
KOR Protocol, supported by Animoca Brands, has launched KOR Player, a decentralized music streaming service. The platform allows users to remix music with a sound library and uses AI for copyright authentication and crypto-based royalty payments. With early support from DJs like deadmau5 and 550,000 user signups, KOR Player aims to address music copyright issues and offer new monetization opportunities for artists.
🔥 Base.fun Unveils V2 with Multi-Chain Support and Enhanced Portfolio Management.
Base.fun has launched V2 of its multi-chain memecoin launchpad, now supporting Binance Smart Chain (BSC), Base, Ethereum, and Arbitrum, with plans for additional integrations. The update introduces a comprehensive portfolio management feature that allows users to track their balance, view held and created tokens, monitor total trading volume, and access detailed performance metrics. With tailored transaction fees for each supported blockchain, Base.fun V2 aims to optimize user experience by providing advanced control and insights. The platform is designed to simplify the creation, trading, and management of memecoins.
🔥 Banking Circle launches bank-backed MiCA-compliant stablecoin, EURI.
Banking Circle has introduced EURI, a stablecoin that complies with the Markets in Crypto Assets Regulation (MiCA). This launch marks the first MiCA-regulated stablecoin issued and backed by a bank in the EU. EURI will initially be available on Binance and CoinUT Switzerland AG, with plans for broader exchange listings. It will be supported by Fireblocks' Tokenization Engine and Multi-Party Computation (MPC-CMP) technology.
🔥 Warden Unveils Artificial Intelligence Blockchain Interface (AIBI).
Warden has announced the alpha release of the Artificial Intelligence Blockchain Interface (AIBI), a new product designed to integrate AI with blockchain technology. AIBI allows developers to incorporate AI into their applications and creates cryptographic proofs to verify AI predictions. These proofs are then validated on Warden’s blockchain, ensuring trust and accuracy in AI outputs. The new interface aims to combat issues of unreliable AI recommendations and improve transparency and security.
🔥 Gavin Wood Introduces "Proof-of-Ink": A Tattoo for Web3 Privacy.
Gavin Wood, co-founder of Ethereum and Polkadot, has unveiled "Proof-of-Ink," a new Web3 individuality solution launching in Q4 2024. This system uses a unique, algorithmically generated tattoo to prove digital citizenship while preserving privacy. The tattoo design is created using random numbers on the blockchain, and users must upload a video of the tattooing process to validate their Web3 identity. This approach aims to enhance privacy and prevent financial censorship, aligning with the vision of a more decentralized and user-centric internet.
🔥 MercadoLibre's MercadoPago Launches Meli Dollar Stablecoin in Brazil
MercadoPago, the digital banking arm of MercadoLibre, has introduced a stablecoin called "Meli Dollar" in Brazil, pegged to the US dollar. This move is aimed at offering more stable purchasing power, especially in volatile economies like Venezuela and Argentina. The launch is expected to strengthen MercadoLibre's fintech services and enhance its position in the Latin American market.
🔥 Sony launches Soneium blockchain as it pushes for mainstream web3 adoption
Japanese electronics company Sony is developing its own blockchain, Soneium, in collaboration with Singapore-based web3 infrastructure provider Startale. The company announced the development in an Aug. 23 release, stating that the Soneium testnet will go live in the coming days. It will allow developers to experiment and build applications, paving the way for a future public release
🔥 BTC re-staking platform SatLayer secures $8m in pre-seed funding
SaltLayer, a Bitcoin-powered restaking platform built on the Babylon staking protocol, has completed an $8 million pre-seed funding round. The Bitcoin restaking platform received backing from several crypto-focused venture capital firms. Castle Island Ventures and web3 venture capital firm Hack VC co-led the pre-seed round. The protocol will use the financing to bring its restaking product to the growing Bitcoin market.
🔥 NFT Marketplace Magic Eden Revamps Token Strategy with ME Token Launch
Magic Eden announced the launch of the ME token through the rebranded ME Foundation, shifting from the initial plans for a fungible token with the NFT ticker. Despite changes, the token will be accessible through the Magic Eden Wallet and aims to expand beyond the NFT market in the future. The ME Foundation, operating independently, plans to oversee the token's launch and distribution, fostering growth and adoption among the community.
🔥 Skyfire launches blockchain payment network that lets AI spend your money
Skyfire, a blockchain development firm, has launched a payment platform that allows AI agents to spend money independently by converting cash into USD Coin. Without the ability to make payments, AI agents are limited in functionality, but with a wallet, they can interact with services and potentially generate income. Skyfire's product is currently focused on supporting B2B transactions between AI agents, with future services and use-cases being explored.
🔥 Bitget Adds Support for PayPal (PYUSD) Stablecoin on Solana Blockchain
Bitget, a leading cryptocurrency exchange, has recently added trading support for PayPal's PYUSD stablecoin on the Solana blockchain. This move aims to increase the availability of multichain tokens and enable smooth transactions of PYUSD on both the Solana and Ethereum networks within the Bitget ecosystem. Solana's reputation as a preferred network for stablecoin activities, combined with PYUSD's potential for user adoption, solidifies the platform's standing in the stablecoin market and opens up new opportunities for consumers and businesses seeking speed and cost-efficient transactions.
🔥 Tether to Launch Stablecoin Pegged to UAE Dirham
Tether, the major stablecoin issuer, revealed plans to introduce a new stablecoin pegged to the United Arab Emirates Dirham (AED). The stablecoin aims to facilitate secure and efficient transactions in AED, catering to businesses and individuals for cross-border payments and asset diversification. Tether's CEO highlighted the UAE's growing importance as a global economic hub and emphasized the token's potential benefits. The stablecoin will be fully backed by liquid UAE-based reserves and is a part of Tether's expanding range of stablecoins. The move reflects the UAE's emergence as a hub for cryptocurrency and blockchain innovation.
🔥 SunPump Surpasses $1.1 Million in Revenue on Tron Blockchain
SunPump, a memecoin platform on the Tron blockchain, has generated over $1.1 million in revenue just 11 days after its launch, with a peak revenue day of nearly 2.78 million TRX. Despite ongoing debate about the value of memecoins, Sun remains optimistic, believing in their success through community support and fair launches. The platform's backing by Justin Sun and the Meme Ecosystem Boost Incentive Program have helped drive liquidity into the Tron blockchain, showcasing the potential of memecoins in the crypto market.
🔥 Cambodia’s Bakong Tourists app boosts regional payment options
The National Bank of Cambodia has launched the Bakong Tourists app to enhance payment options for visitors through its blockchain-based Bakong system. The app allows for QR code purchases at 3.3 million locations, as well as money transfers, depositing funds, and currency conversion. Users can increase their spending limit to $3,000 after undergoing Know Your Customer verification. Additionally, NBC is looking to link Bakong Tourists accounts with international payment cards through agreements with companies from Malaysia and South Korea.
🔥 EigenLayer’s EigenDA to support layer-2 native token restaking.
EigenLayer's EigenDA, a data availability protocol, will now support native token restaking for layer-2 networks in addition to Ether and EigenLayer’s EIGEN token. This feature enables teams to restake their ERC-20 tokens to establish custom quorums for rollups, enhancing security and providing yield opportunities for token holders. EigenDA aims to address the high costs of on-chain data storage and access for Ethereum’s layer-2 solutions.
🔥 Crypto pyramid scheme leader extradited to China after global pursuit
Chinese authorities successfully extradited Zhang Moumou, the mastermind of the MBI Group's massive crypto pyramid scheme, from Thailand after years on the run. The extradition, a significant achievement under the China-Thailand Extradition Treaty, highlights the ongoing global fight against economic crimes in the digital currency sector. Despite China's crypto ban, the nation is still vulnerable to investment scams, making it crucial for authorities to remain vigilant in protecting investors.
🔥 NBA Star and YouTuber Settle Binance Class Action Lawsuit, Paying $340K
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NBA star Jimmy Butler and crypto YouTuber Ben Armstrong, known as “BitBoy,” have agreed to settle a class action lawsuit brought against them for promoting alleged unregistered securities sold by Binance, paying a combined total of $340,000. Butler has agreed to settle for $300,000, while Armstrong will pay $40,000, according to CoinTelegraph. Despite the settlement, both continue to deny any wrongdoing.
🔥 Dubai Court Validates Cryptocurrency Salaries in Landmark Ruling
The Dubai Court of First Instance has recognized cryptocurrency as a legitimate form of salary payment
🔥 Nigeria Set to Introduce Crypto Tax Law by September
Nigeria's FIRS plans to introduce a crypto tax law by September to address regulatory gaps and modernize the country's revenue structure. FIRS Executive Chairman Zacch Adedeji highlighted the need for these measures at a stakeholder meeting with the National Assembly's Senate and House Finance Committees, considering the booming crypto economy in Nigeria. The proposed law aims to create a regulatory environment that benefits Nigeria's developing crypto industry, responding to recent developments such as the installation of a 7.5% VAT on cryptocurrency transactions and the easing of the Central Bank's prohibition on crypto bank accounts. Senator Muhammed Musa emphasized the importance of changing tax legislation to keep up with technology changes and increase revenue collection, as Nigeria seeks to balance innovation with effective monitoring in the rapidly evolving crypto ecosystem. It is important to note that cryptocurrency is still banned in Nigeria.
🔥 Binance Hit With Fresh Class Action Lawsuit Over Money Laundering Allegations - Decrypt
A new class action lawsuit has been filed against Binance in the U.S. Western District Court of Washington, accusing the company and its founder of enabling widespread money laundering and violating U.S. financial regulations. The lawsuit alleges that Binance's negligent compliance practices allowed bad actors to use the platform to launder stolen crypto, causing significant financial harm to U.S. users. This legal action follows previous settlements where Binance agreed to pay over $4 billion in penalties and its founder, Changpeng Zhao, stepped down as CEO.
🔥 TON Resumes Block Production After Six-Hour Outage.
The Open Network (TON) has resumed block production following a six-hour outage caused by an overload from the DOGS memecoin airdrop. The surge in transaction volume led to database issues and a loss of consensus among validators. The network has called on validators to restart their nodes to restore full functionality. The disruption led Binance and Bybit to suspend transactions related to TON. During the outage, Toncoin's price dropped to $5.11, reflecting a 20% decrease over the past week.
🔥 Polygon restores control of Discord server following $145,000 hack as POL token launch approaches.
Polygon has regained control of its community Discord server following a hack that resulted in the theft of approximately $145,000 from a user. The attack occurred just before the network's transition from the MATIC token to the new POL token on September 4. A fraudulent message about a pre-migration airdrop, which included a phishing link, led to the breach. Polygon's security team is reviewing the incident, suspecting a compromised bot or integration. A detailed postmortem is expected after the review.
🔥 Binance Says It Protects Over $2.4 Billion From Crypto Scams This Year
Binance reported protecting over $2.4 billion from scams and fraudulent activities through AI-driven and manual risk management systems. The exchange specifically blocked $1.1 billion in scam-related activities during crypto withdrawals, safeguarding more than 1.2 million users globally.
🔥 Katara raises $2.2M in seed funding to accelerate developer experiences with generative AI.
Katara AI Inc. has successfully closed a $2.2 million seed funding round with plans to target developers at legacy technology firms. The funds will help Katara extend its platform beyond Web3 to traditional tech developers. The platform uses generative AI, machine learning, and NLP to automate feedback and streamline workflows, aiming to improve developer onboarding and efficiency.
🔥 Solana restaking protocol Solayer reaches $80 million valuation with $12 million seed round.
Solayer Labs, the developer behind the Solana restaking protocol Solayer, has secured $12 million in seed funding led by Polychain Capital, bringing its valuation to $80 million. Solayer aims to enhance staking rewards on Solana by allowing users to restake their assets within the Solana ecosystem, setting it apart from other restaking protocols. The company plans to expand its team and integrate new protocols, with a native token in development.
🔥 Gameplay Galaxy reaches $71 million valuation with $11 million seed extension round.
Gameplay Galaxy, a web3 game development studio known for its Trial Xtreme series, has raised $11.17 million in a seed extension round led by Blockchain Capital and Merit Circle. This funding has elevated the company's valuation to $71 million. The total funding now stands at $24 million, with Gameplay Galaxy planning to use the capital to further develop its web3 game, Trial Xtreme Freedom, and expand its team and operations.
🔥 Echelon raises $3.5m to advance DeFi lending on Move-based blockchains.
Echelon, a decentralized lending protocol, has raised $3.5 million in seed funding led by Amber Group and supported by other crypto investors. The funds will be used to expand its DeFi lending services, enhance product offerings, and integrate cross-chain and real-world asset strategies, focusing on Move-based blockchains like Aptos and Sui.
🔥 Chainbound Raises $4.6M for Bolt, a Preconfirmation Protocol.
Chainbound has secured $4.6M in seed funding led by Cyber Fund, with participation from Maven 11, Robot Ventures, and Bankless Ventures. The firm’s first product, Bolt, aims to revolutionize Ethereum transactions with sub-second preconfirmations, drastically reducing the average seven-second confirmation time. Bolt will debut on the Helder testnet and is expected to launch on the Ethereum mainnet by year-end.
🔥 BSX, a DeFi Derivatives Protocol, Secures $6.2M.
BSX, a DeFi derivatives protocol on Ethereum's Base Layer 2, has raised $6.2M in funding through a $4M seed round led by Blockchain Capital and a $2.2M pre-seed round. Investors include Bankless Ventures, No Limit Holdings, and notable angels. The funds will be used to broaden their DeFi offerings and introduce new products next month. BSX features a unique orderbook model and has processed over $4B in trading volume since April, generating over $1M in revenue.
🔥 Arch Lending Secures $75 Million to Expand Crypto-Backed Loan Services.
Arch Lending, a New York City-based provider of crypto-backed loans, has raised $75 million through a combination of a $5M equity seed round and a $70M loan financing. The funding will support the expansion of their operations and development. Arch Lending offers over-collateralized crypto-backed loans with automated, instant funding options in USD or stablecoins, and provides secure crypto custody through a partnership with BitGo.
🔥 Stork Network Secures $4.7M Seed Round to Expand Pricing Oracle Solutions.
Stork Network has raised $4.705 million in seed funding, co-led by Lightspeed Faction and Lattice, with additional support from CMS and Wintermute Ventures. The funds will help expand their product offerings, including the launch of the Open Data Market. This new framework aims to improve data accessibility and flexibility for decentralized applications, addressing the historically challenging bottleneck of pricing data across various asset classes.
🔥 Ark Labs Raises $2.5M Pre-Seed Round to Revolutionize Bitcoin Payments.
Ark Labs has secured $2.5 million in pre-seed funding, led by Tim Draper and supported by Fulgur Ventures, Axiom Capital, and Stephen Cole. The company aims to enhance Bitcoin's usability for payments and global commerce through its innovative Ark protocol, designed to simplify transactions and improve scalability. The funding will be used to hire talent, develop products like the Ark Node wallet, and build strategic partnerships to integrate Ark’s technology.
🔥 Tim Draper Leads $2.5 Million Funding Round for Ark Labs to Advance Bitcoin Payment Solutions
Ark Labs secures $2.5 million in pre-seed funding led by Tim Draper to advance the Ark protocol for simplifying bitcoin payments. The funding will help enhance their user-friendly, non-custodial payment system, making bitcoin more accessible for global commerce.
🔥 Animoca Brands-Backed Soulbound Raises $4 Million for Web3 Social Gaming
Soulbound, a web3 social gaming ecosystem, has raised $4 million to power its mission to empower the new creator economy. By creating a new avant-garde platform, Soulbound seamlessly marries GameFi and SocialFi into a next-generation digital experience. Soulbound’s latest round concluded in Q2 2024, with participation from leading gaming and blockchain communities.
🔥 Credbull Closes $5.2M Funding Round
Credbull, a Bahamas-based onchain private credit fund manager, has raised $5.2M in funding led by GnosisVC, Outlier Ventures, and other investors. The company plans to use the funds to improve its platform, expand its product suite, and solidify its position in the market. Credbull, led by CEO Jason Dehni, offers access to private credit and institutional-grade RWA through blockchain technology, providing innovative investment solutions to a wide range of investors in both Web3 and TradFi sectors.
🔥 Fanton Raises $1m in Seed Funding
Tel Aviv-based Fanton Fantasy Football, a blockchain-based fantasy sports platform, raised $1M in Seed funding led by Animoca Brands, Delphi Ventures, and Kenetic Capital. The platform, integrated within the Telegram ecosystem, allows users to create fantasy teams, compete, and earn rewards through blockchain technology. With over 3 million users and 300,000 connected wallets, the company is poised for significant growth in the SocialFi gaming space.
🔥 Paradigm leads $7.5 million seed round for Sorella Labs that aims to solve Ethereum's MEV problem
Sorella Labs has raised $7.5 million in a seed funding round led by Paradigm. The startup is building tools to solve Ethereum’s MEV problem at the application layer, co-founder and CEO Ludwig Thouvenin said in an interview.
🔥 Coinbase CEO Brian Armstrong Predicts Payments Will Be Crypto's Next Big Boom.
Brian Armstrong, CEO of Coinbase, reflects on a decade of cryptocurrency evolution, noting that while he initially expected payments to be the leading application for crypto, trading has dominated instead. Looking ahead, Armstrong anticipates that crypto payments will emerge as a major growth area, driven by advancements in stablecoins, layer two technologies, and simplified onboarding processes. He believes the foundation for this shift is already being laid, with increasing stablecoin payment volumes and improved infrastructure.
🔥 Robinhood wallet adds support for Solana.
Robinhood has integrated Solana into its Wallet, enabling users to self-custody and transact with SOL on the Solana blockchain. This addition aligns with Robinhood’s strategy to enhance its Web3 wallet and follows previous integrations with Ethereum, Polygon, and Bitcoin. The move aims to improve management of SOL holdings and reflects Robinhood's growing focus on cryptocurrency.
🔥 BlackRock Adds 4,000 Bitcoin ETF (IBIT) Shares To Strategic Global Bond Fund.
BlackRock has increased its Bitcoin holdings in the Strategic Global Bond Fund, now holding 16,000 shares of the iShares Bitcoin Trust. This move reflects a growing trend of institutional interest in Bitcoin ETFs, as financial institutions seek to diversify portfolios and meet investor demand for cryptocurrency exposure. The broader market has seen increased inflows in Bitcoin ETFs, with BlackRock surpassing Grayscale in total cryptocurrency holdings, indicating a shift towards crypto assets in traditional investment portfolios.
🔥 Base Dawgz ICO raises $3M as it enters final 2 days.
Base Dawgz’s ICO has successfully raised over $3 million and is set to conclude on August 28 at 6 PM UTC. The Shiba Inu-themed memecoin stands out with its cross-chain interoperability, available on Base, Ethereum, Solana, BSC, and Avalanche networks. This broad accessibility is seen as a solution to crypto fragmentation and could drive significant adoption. Analysts, including prominent trader ClayBro, predict substantial gains.
🔥 Argentina adds Ethereum to Buenos Aires high school curriculum.
Argentina's Ministry of Education has partnered with ETH Kipu to introduce Ethereum and blockchain technology to high school students in Buenos Aires. The initiative includes offering blockchain internships and a Solidity course to educate 500 students on developing decentralized applications.
🔥 Wyoming Aims to Launch US Dollar-Backed Stablecoin in 2025.
Wyoming plans to introduce its own US dollar-backed stablecoin, the Wyoming Stable Token, in Q1 2025. The initiative aims to provide a cost-effective and efficient payment method, bolster state revenue, and potentially influence federal stablecoin policies. Governor Mark Gordon highlighted the project’s transparency and backing by short-term Treasurys. Wyoming has a history of supportive crypto legislation and is currently selecting partners for necessary technology. The stablecoin will be used for everyday transactions, such as buying coffee.
🔥 Mercado Pago Enables Brazilian Users to Buy and Sell Stablecoin Pegged to US Dollar.
Mercado Pago has launched the Meli Dollar stablecoin in Brazil, allowing users to buy and sell it through the app. The stablecoin is pegged one-to-one with the US dollar, providing a less volatile option for users. With no fees for transactions, Mercado Pago aims to democratise access to financial services and offer a stable financial management solution for Brazilians. Ripio, a leading crypto platform in Latin America, will facilitate transactions as the market maker and exchanger, ensuring security and efficiency for users.
🔥 Binance Unveils Plan to Hire 1,000 Employees This Year, Prioritizing Compliance Amid Regulatory Pressure.
Binance plans to hire 1,000 new employees this year, focusing mainly on compliance roles, as part of its strategy to navigate increased regulatory scrutiny. The company's regulatory spending has exceeded $200 million. CEO Richard Teng highlighted the importance of strengthening compliance infrastructure, especially following a significant plea deal with the U.S. Department of Justice. Despite ongoing legal and regulatory challenges, Binance remains committed to enhancing its compliance operations and is considering new global headquarters locations, including Dubai and Abu Dhabi.
🔥 Telegram Co-Founder Pavel Durov Arrested in France, TON Plummets 18%.
Pavel Durov, the CEO of Telegram, was detained in France due to allegations of illegal activities on the platform. His arrest caused a significant decline in the value of Toncoin, the cryptocurrency associated with Telegram's blockchain project. Despite the legal troubles, Telegram's user base continues to grow, driven in part by the popularity of crypto-based games on the platform. The future of Telegram and its associated projects remains uncertain as regulatory challenges persist and investors express concerns.
🔥 Blockchain-backed Startup Seeks To Prevent AI Copyright Theft
Story, a startup using blockchain technology to protect intellectual property, raised $80 million in funding, valuing the company at $2.25 billion. With the goal of preventing AI models like OpenAI's GPT from stealing creators' IP, Story allows for embedding licensing and royalty-sharing terms into smart contracts, cutting out middlemen. The company plans to use the funds to expand its IP network infrastructure and onboard more developer partners to address the pressing issue of copyright theft by powerful AI models.
🔥 Utah Woman Used Dark Web & Bitcoin in Bid to Hire Hit Man to Kill Ex's Girlfriend; Sentenced to 6.5 Years
Krista Renae Stone was sentenced to 78 months in federal prison for attempting to hire someone on the dark web to kill her ex-boyfriend's new girlfriend. The 23-year-old pleaded guilty to using facilities of interstate commerce to commission a murder and was handed her sentence by a senior U.S. District Court Judge. Law enforcement agencies, including Homeland Security Investigations, played a crucial role in uncovering and thwarting the deadly plan, emphasizing the gravity of murder-for-hire crimes. Following her prison term, Stone will also face three years' supervised release.
This is probably why the crypto community is so engaged with over 300 million people worldwide using cryptocurrencies! 😎