Today’s cryptocurrency headlines, handpicked by CoinChapter.com, bring you the latest updates in the crypto world.
Nigeria Propels AI and Blockchain Research Centers Nationwide
The National Information Technology Development Agency (NITDA) of Nigeria has unveiled plans to establish cutting-edge research hubs across the nation’s six geopolitical zones. These centers will focus on pioneering technologies such as AI, blockchain, Internet of Things (IoT), unmanned aerial vehicles (UAVs), additive manufacturing, and robotics.
NITDA aims to foster innovation among Nigerian startups by providing innovation sandboxes for product development using these technologies. Additionally, the agency plays a pivotal role in the government’s ambitious 3 Million Technical Talent program, slated to empower three million Nigerians by 2027. With a burgeoning youth population and a dynamic startup ecosystem, Nigeria is poised to emerge as Africa’s potential “Silicon Valley.”
Polkadot Faces Uncertain Future Beyond 2026
Financial reports and expert analyses suggest an uncertain future for Polkadot, a prominent blockchain platform. Despite holding approximately $245 million in its treasury, Polkadot faces the prospect of depleting its funds within the next two years at the current expenditure rate.
During the first half of 2024 alone, Polkadot expended $87 million, a substantial increase from the latter half of 2023. A significant portion of this spending, amounting to $36.7 million, was allocated to marketing initiatives, including collaborations with figures like Lionel Messi and various sponsorships. However, despite these efforts, the platform has seen a decline in active user accounts, raising concerns about its sustainability in the long term.
Opera Mini Enhances Crypto Wallet with USDT and USDC
Opera is enhancing its mobile browser, Opera Mini, by integrating Tether’s USDT and Circle’s USDC stablecoins into its MiniPay cryptocurrency wallet. The update introduces a new feature called Pockets, facilitating seamless swaps between these stablecoins and the Celo dollar (cUSD).
The Pockets feature allows users to switch between USDC, USDT, and cUSD effortlessly through a simple drag-and-drop interface. This upgrade aims to streamline asset swapping within Web3, enhancing accessibility for users.
Binance Executive’s Trial Resumes Amid Health Concerns
The trial of Binance executives Tigran Gambaryan and Nadeem Anjarwalla is set to resume on July 5 in Nigeria. Gambaryan, who has been in detention since February on money laundering charges, has reportedly suffered from health issues including pneumonia and malaria during his 128-day confinement.
His family has expressed concerns about his ability to endure the trial and frustration over the slow response from authorities. Yuki Gambaryan, his wife, has sought support from U.S. officials, emphasizing that the disputes between Binance and Nigerian authorities should not compromise her husband’s health.
DWF Labs Launches $20M Fund for Web3 Projects in Chinese-Speaking Regions
DWF Labs, a prominent investor in Web3 technologies, has introduced the Cloudbreak Fund worth $20 million. This fund aims to bolster Web3 projects across Chinese-speaking regions, offering investments and strategic resources to accelerate growth in sectors such as gaming finance, social finance, memecoins, derivatives, and layer-1/layer-2 projects.
The initiative reflects DWF Labs’ commitment to supporting Web3 projects amid existing challenges, ensuring they have the necessary resources to thrive and innovate.
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