Tether's CEO, Paolo Ardoino, highlighted the crucial role of USDT in driving demand for the US dollar in developing countries. With over 300 million users globally, USDT serves as a digital dollar, offering vital financial services to underbanked communities. This stablecoin facilitates efficient money transfers and storage, bypassing traditional financial systems. Tether's significant holdings in US Treasuries, amounting to $90.87 billion as of March 31, 2024, reflect its growing influence in finance. As the dominant stablecoin with a market cap exceeding $112 billion, USDT plays a pivotal role in the cryptocurrency market. Despite facing regulatory scrutiny, Tether continues to witness steady growth in demand, especially in emerging markets like Nigeria, Turkey, Thailand, and Brazil. Ardoino debunked claims of potential US government targeting, emphasizing Tether's commitment to transparency and compliance. Read more AI-generated news on: https://app.chaingpt.org/news

Deutsche Telekom's T-Mobile division has revealed plans to venture into Bitcoin mining, building on its existing involvement in the crypto space. Since 2023, the telecommunications giant has been running a Bitcoin node and operating Bitcoin Lightning Network nodes. At the BTC Prague event, Dirk Röder, head of Web3 infrastructure at Deutsche Telekom, discussed the concept of 'digital monetary photosynthesis.' The company has also been active in Web3 as a Polygon validator since June 2023, utilizing its infrastructure to explore new revenue streams. As one of 100 validators on Polygon, Deutsche Telekom has contributed to the platform's proof-of-stake consensus mechanism. Additionally, the firm has partnered with Fetch.ai to support AI-driven autonomous agents in various sectors like healthcare and supply chain management. This collaboration highlights Deutsche Telekom's commitment to innovation in the crypto and AI space. Read more AI-generated news on: https://app.chaingpt.org/news

Three executives from major cryptocurrency mining companies in the U.S. have established a nonprofit organization to educate voters about Bitcoin. The Bitcoin Voter Project, led by executives from Marathon Digital Holdings, Riot Platforms, and CleanSpark, aims to inform voters about digital assets. Unlike a PAC, the project is registered as a 501(c)(4) and is nonpartisan. The initiative, which coincided with a meeting between mining representatives and former President Trump, plans to support candidates who back digital assets. With $5 million allocated for research and voter education, the project seeks to engage potential voters and influence elections. While single-issue crypto voters may not dominate the 2024 election, their impact could sway results in swing states. Various crypto advocacy groups have endorsed the project, which has already garnered hundreds of sign-ups. The upcoming debate between President Biden and Trump, along with other potential candidates like Robert F. Kennedy Jr. and Chase Oliver, highlights the growing influence of crypto voters in the political landscape. Read more AI-generated news on: https://app.chaingpt.org/news

Cloud crypto mining platform NiceHash has launched a new firmware product in collaboration with Marathon Digital, allowing retail and home miners access to the mining company's technology. Marketed as NiceHash Firmware Powered by MARA, the firmware combines features developed by Marathon Digital, the largest Bitcoin miner by market cap. Marathon Digital's chief technology officer, Ashu Swami, stated that the new firmware, introduced in March, will be available to over 200,000 ASICs and enterprise clients. Users will pay a 2% fee, or 1.4% when using the NiceHash pool. The firmware is compatible with various ASIC mining machine models and algorithms, including Kadena's Blake2s algorithm for KDA coin mining. NiceHash also offers features like autotuning, temperature control, and a mobile app for remote ASIC management. In addition to software and mining services, NiceHash operates a hashrate market where ASIC owners can sell their hashing power for any supported coin. Read more AI-generated news on: https://app.chaingpt.org/news

El Salvador's President Nayib Bukele, known for his pro-Bitcoin stance, is suggesting the creation of private investment banks in the country. These banks, if established, would provide Bitcoin investors with access to financial services with fewer restrictions compared to traditional banks. The proposed Bank for Private Investment (BPI) aims to diversify financing options in both Dollars and Bitcoin. This initiative comes shortly after Bukele's re-election and is supported by key figures in the Bitcoin community. The BPI would operate under more relaxed regulations than traditional banks, allowing for greater flexibility in investments and loans. The proposal, presented by El Salvador's Minister of Economy, is still pending approval by the legislative commission. If approved, the BPI would have a minimum capital requirement and could potentially offer digital asset services. This move aligns with El Salvador's efforts to embrace Bitcoin as legal tender and promote economic growth. Read more AI-generated news on: https://app.chaingpt.org/news

Bitcoin mining company Bitfarms has announced its expansion into the United States by establishing a new site in Sharon, Pennsylvania. With plans to develop up to 120 megawatts of power capacity in the region, Bitfarms aims to leverage competitive electricity rates and opportunities to optimize energy costs. The strategic location within a deregulated state allows the firm to participate in demand response programs. This expansion is projected to enhance operational efficiency, increase capacity to 8 EH/s by 2025, and boost total power capacity to 648 MW. Additionally, Riot Platforms has increased its ownership stake in Bitfarms to 14%, acquiring over 1.4 million common shares. The move comes amidst a recovery from a share price dip and signals confidence in Bitfarms' future prospects in the cryptocurrency mining sector. Read more AI-generated news on: https://app.chaingpt.org/news

Andrew Tate, a polarizing social media personality, has seen his crypto token, Daddy Tate (DADDY), outperform rapper Iggy Azalea's token, Mother Iggy (MOTHER), despite allegations of insider trading. DADDY, a Solana-based memecoin promoted by Tate, has reached a $300 million market cap and is trading at $0.30, marking a 218% increase in the last 24 hours. In contrast, MOTHER's market cap has dropped to $153 million from its peak of $267.58 million, with its price falling to $0.15. Bubblemaps, a crypto analytics firm, flagged suspicious insider activity surrounding DADDY, revealing that 11 wallets acquired 20% of the token supply before Tate's promotion, potentially worth $61.4 million. Tate's holdings of 40% could impact liquidity if sold. Despite these concerns, Tate pledged not to sell his tokens. The crypto community remains wary of such celebrity-backed tokens, given the risks associated with concentrated ownership. Read more AI-generated news on: https://app.chaingpt.org/news

Thailand's SEC has revoked Zipmex's license for non-compliance, while Australia bans crypto and credit card use in online gambling. Bitcoin hits a weekly low post U.S. Bitcoin ETF outflows. Zipmex faced regulatory scrutiny leading to license revocation in Thailand. Australia prohibits digital currency and credit card use in online gambling to prevent financial losses. Bitcoin price drops ahead of U.S. inflation data and Fed meeting, with U.S. Bitcoin ETFs seeing net outflows. The move aims to protect customers and aligns with Australia's gambling laws. Market volatility persists as Bitcoin falls to a weekly low and U.S. spot Bitcoin ETFs record outflows. U.S. inflation data and Fed meeting outcomes to impact market further. Read more AI-generated news on: https://app.chaingpt.org/news

The Ethereum layer-2 network Base has exceeded $8 billion in total value locked, surpassing Optimism’s OP Mainnet. As of June 10, L2Beat data reveals a TVL of $8.05 billion, with $2.14 billion bridged from Ethereum to Base and $5.92 billion in native assets. Base, supported by Coinbase, is now the second-largest Ethereum scaler in TVL after Arbitrum One. Since its launch in August, Base has grown rapidly, reaching $1 billion in TVL on Feb. 27. It leads in transactions per second at 30.36, processing 64.86 million transactions in the last month. Despite a decrease in on-chain profits to $6.98 million in May, Base remains the most profitable Ethereum layer 2. However, the network faced challenges with scammers exploiting its popularity with memecoins, resulting in a significant increase in phishing scams. Analysts predict Ethereum layer-2 scaling networks could reach a $1 trillion market cap by 2023. Read more AI-generated news on: https://app.chaingpt.org/news

The African Development Bank (AfDB) and tech giant Intel have partnered to provide three million Africans and 30,000 government officials with advanced artificial intelligence (AI) skills. This collaboration aims to transform the African digital landscape by offering training in AI, robotics, and data science. The goal is to enhance economic growth and productivity across the continent. By empowering Africans with AI skills, the initiative seeks to enable active participation in technology development and innovation. The training program is expected to benefit sectors like agriculture, health, and education, leading to sustainable development and improved quality of life in Africa. Intel's commitment to making AI accessible to all, regardless of location or background, highlights the importance of inclusivity in the digital economy. Additionally, the partnership aims to establish consistent policies for digital technologies like AI, 5G, and cloud computing, promoting a unified approach to digital transformation in Africa. Despite challenges in talent development and high training costs, initiatives like Nigeria's multilingual language model demonstrate progress in AI development across the continent. Read more AI-generated news on: https://app.chaingpt.org/news

Apple is gearing up to unveil its response to the AI revolution with the introduction of Apple Intelligence. Set to be announced at the Worldwide Developers Conference, Apple's new lineup of AI-powered products will feature a hybrid onboard/cloud approach. This strategy will ensure consumer privacy for applications like predictive text and typing suggestions, while also partnering with OpenAI for more advanced generative features. The revamped Siri is expected to offer personalized tasks and capabilities, aiming to catch up with competitors like Samsung. Despite initial skepticism, Apple's venture into generative AI is highly anticipated. With the launch of AI-generated emojis and a more powerful Siri, Apple aims to reclaim its position as a market leader in 2024, competing with tech giants like Microsoft and Google. Read more AI-generated news on: https://app.chaingpt.org/news

Cryptocurrency has become a prominent player in the financial world, revolutionizing traditional banking systems. The digital currency market has experienced significant growth, attracting both investors and consumers alike. With the introduction of blockchain technology, transactions are now more secure and transparent. Cryptocurrencies like Bitcoin and Ethereum have gained widespread acceptance, challenging the dominance of fiat currencies. The decentralized nature of these digital assets has led to increased interest from individuals seeking financial independence. As more businesses adopt cryptocurrency as a form of payment, the future of finance looks increasingly digital. The potential for growth and innovation in the crypto space is vast, with new opportunities emerging regularly. Overall, the rise of cryptocurrency signals a shift towards a more decentralized and efficient financial ecosystem. Read more AI-generated news on: https://app.chaingpt.org/news

Bitcoin briefly touched the $72,000 resistance on June 7 before dropping to $69,000, signaling a potential shift in investor sentiment. The S&P 500 hit a new high following strong job growth in the US, impacting various asset classes. Concerns about a possible recession loom as interest rates remain high, but current data suggests a stable economic outlook. Despite market fluctuations, Bitcoin, gold, and fixed-income assets reacted differently, highlighting the unique dynamics at play. Analyzing data from BTC futures markets reveals a decrease in bullish sentiment among top traders, indicating a cautious approach. However, retail trader demand for stablecoins in China has shown a slight increase, suggesting ongoing interest in the market. Overall, while market indicators fluctuate, the resilience of the $69,000 support level hints at a potential recovery in sentiment among Bitcoin traders. Read more AI-generated news on: https://app.chaingpt.org/news

The Bitcoin network is currently facing a significant rise in network fees due to 332,000 unconfirmed transactions as of June 7, 12:05 pm Eastern Time. Network fees reached 514 sats for high-priority transactions and 513 sats for low-priority ones, peaking at around 520 sats per transaction earlier in the day, equivalent to $50–$52. Concerns over miner difficulty, high fees, and profitability post-halving have intensified. The block reward halving from 6.25 BTC to 3.125 BTC in April led to a 42% decrease in mining revenue for Bitfarms in May. Unfavorable weather conditions in Argentina also impacted mining operations. U.S. Bitcoin miners have spent $2.7 billion on electricity in 2024, with the energy consumption being able to power 1.5% of U.S. households for a year. The cost to mine a single Bitcoin has more than doubled to $110,000 post-halving. Read more AI-generated news on: https://app.chaingpt.org/news

The article, updated on June 7, reveals the emergence of AI-driven crypto crimes as a significant cyber threat. Elliptic's report exposes the exploitation of advanced technologies for deepfake scams, state-sponsored attacks, and other illicit activities. The report highlights an unethical advertisement on the dark web promoting a generative pre-trained transformer (GPT) that emphasizes the dual nature of AI. Deepfake videos featuring Elon Musk and Lee Hsien Loong are used to lure victims into fraudulent investment schemes. Scammers are increasingly using deepfake tactics on social media to deceive individuals into giving away their funds. The misuse of AI for criminal activities extends beyond scams, raising concerns among cybersecurity experts. The report also discusses the dark web's role in facilitating AI misuse and the recent arrest of a dark web market owner involved in a $100 million narcotics marketplace. AI's potential for both innovation and criminality is a growing concern in the crypto world. Read more AI-generated news on: https://app.chaingpt.org/news

Nasdaq-listed medical manufacturer Semler Scientific, known for adding Bitcoin to its treasury, recently purchased an additional $17 million worth of the cryptocurrency. The company disclosed this purchase in an S-3 filing on June 6, bringing its total Bitcoin holdings to 828, valued at over $58.5 million. Semler also announced plans to potentially raise $150 million to acquire more Bitcoin. CEO Doug Murphy-Chutorian emphasized Bitcoin as a key investment strategy alongside the healthcare business, citing its potential as a hedge against inflation and global instability. The firm believes in Bitcoin's digital resilience over gold and anticipates significant returns as it gains recognition as 'digital gold.' Metaplanet, a Japan-based investment firm, has also embraced Bitcoin, following a similar investment approach to MicroStrategy. Their recent Bitcoin purchases have led to notable stock performance on the Tokyo Stock Exchange. Read more AI-generated news on: https://app.chaingpt.org/news

American fast food chain McDonald’s has introduced the “My Happy Place” metaverse in Singapore, where locals can create virtual burgers and engage in various activities. Teaming up with Bandwagon Labs, the metaverse division of entertainment media tech company Bandwagon, McDonald’s Singapore developed a virtual world within its app. Bandwagon Labs Founder Clarence Chan emphasized the use of Web3 technologies to enhance security, functionality, and digital collectibles. The integration of wallet hosting services like MetaMask allows secure authentication and participation in token-based activities. McDonald’s retains full control over the in-app metaverse, which will run from June 6 to July 7. Chan sees potential in customer retention and fan engagement through the metaverse. The partnership between Magic Leap and Google aims to advance extended reality technologies, focusing on optics and infrastructure. The collaboration does not yet reveal specific products or services. Read more AI-generated news on: https://app.chaingpt.org/news

Tezos recently implemented the Paris upgrade, enhancing its layer-2 (L2) scaling solutions to potentially achieve millions of transactions per second (TPS). The upgrade, Tezos' 16th protocol update, went live on mainnet on June 5, focusing on improving network speed and scalability. With a key objective of maintaining low transaction fees on the EVM-compatible L2 network Etherlink, the upgrade has made Etherlink more cost-effective than Arbitrum and Optimism, offering a better user experience. Tezos co-founder Arthur Breitman highlighted Etherlink's 500 millisecond transaction finality time, significantly faster than Optimism and Arbitrum. The introduction of the Data Availability Layer (DAL) in the upgrade aims to enhance network decentralization and scalability, enabling Tezos' Smart Rollups to potentially process millions of TPS. The upgrade also reduced block times to 10 seconds, improving transaction finality and user experience for decentralized applications on Tezos. Read more AI-generated news on: https://app.chaingpt.org/news

Avail, a modular blockchain base layer, has successfully raised $75 million in funding to tackle data availability issues in the blockchain space. Led by Anurag Arjun, co-founder of Polygon, Avail aims to address challenges such as blockchain fragmentation, data availability, and scalability within the Web3 ecosystem. The recent $43 million Series A funding round, oversubscribed by venture capitalists, will be used to develop a permissionless unification layer for Web3. By moving data off-chain and utilizing innovative technologies like erasure coding and data availability sampling, Avail aims to provide a solution to data availability problems. With support from major VC firms and angel investors, Avail plans to foster collaborations and streamline blockchain application development. The project's roadmap includes initiatives like Avail Nexus and Fusion Security to enhance cross-rollup operability and security across the Avail ecosystem. Read more AI-generated news on: https://app.chaingpt.org/news

Magic Leap recently announced a strategic technology partnership with Google to develop new extended reality technologies. Despite Google's recent downsizing of its AR/XR teams and Magic Leap's past failures, this collaboration could bring about new competition for Apple and Meta in the metaverse hardware and experiences. The partnership aims to combine Magic Leap's optics capabilities with Google's infrastructure to advance immersive experiences. While no specific products or services have been announced, speculations suggest a new AR/XR headset may be in the works. The motive behind Google's involvement remains unclear, with possibilities ranging from acquiring patents to avoiding falling behind competitors. This partnership signifies a potential shift in the AR/XR market landscape, introducing fresh competition and innovation. Read more AI-generated news on: https://app.chaingpt.org/news