Top Crypto News of the Day: Nigeria’s Plans for AI and Blockchain Research Centers
CoinChapter.com has curated the top crypto news of the day, and one of the highlights is Nigeria’s National Information Technology Development Agency (NITDA) announcing its plans to establish research centers across the country’s six geopolitical zones. These centers will focus on emerging technologies such as AI, blockchain, Internet of Things, unmanned aerial vehicles, additive manufacturing, and robotics.
The goal of NITDA is to support Nigerian startups in developing products using these technologies through innovation sandboxes. Additionally, the agency is involved in the government’s 3 Million Technical Talent program, which aims to train and empower three million Nigerians by 2027. With its large youth population and vibrant startup ecosystem, Nigeria is positioning itself as a potential “Africa’s next Silicon Valley.”
Crypto News: Uncertain Future for Polkadot
According to recent financial reports and expert analyses, Polkadot, a blockchain platform, faces an uncertain future. Despite its treasury currently holding just under $245 million, the platform’s current spending rate may exhaust its budget within two years.
In the first half of 2024, Polkadot spent $87 million, which is 2.4 times higher than the latter half of 2023. A significant portion of this spending went into marketing efforts, including collaborations with Lionel Messi and various sponsorships. However, concerns arise as the number of active accounts has declined, raising doubts about the platform’s long-term viability.
Read Full Story Here: Analyst Predicts Polkadot’s Demise Beyond 2026
MiniPay Introduces USDT and USDC Support
Opera is upgrading its mobile browser Opera Mini’s cryptocurrency wallet by integrating Tether’s USDT and Circle’s USDC stablecoins. The built-in wallet, called MiniPay, will introduce a new feature called Pockets, enabling users to easily swap between these stablecoins and the Celo dollar (cUSD) with just one click.
The Pockets feature simplifies asset swapping in Web3, making it more accessible to users. It allows for easy switching between USDC, USDT, and cUSD through a simple drag-and-drop motion.
Crypto News: Binance Executive’s Trial Resumes
The trial against Binance executives Tigran Gambaryan and Nadeem Anjarwalla is set to resume on July 5 in Nigeria. Gambaryan has been detained since February on money laundering charges, while Anjarwalla reportedly fled to Kenya in March.
Gambaryan’s health has deteriorated during his 128-day detention, with him suffering from pneumonia, malaria, and ongoing pains. His family is concerned about his ability to endure the trial and frustrated with the slow response from authorities. Gambaryan’s wife, Yuki, has been in contact with U.S. officials, emphasizing that the disputes between Binance and Nigerian authorities should not involve her husband.
Read Full Story Here: Binance Executive’s Trial Resumes, Family Concerned About Health Issues
DWF Labs Launches $20M Fund for Web3 Projects in China
DWF Labs, a Web3 investor, has launched the Cloudbreak Fund, a $20 million fund dedicated to supporting Web3 projects in Chinese-speaking regions. The fund aims to provide investments and strategic resources to accelerate the growth of projects in sectors such as gaming finance, social finance, memecoins, derivatives, and layer-1/layer-2 projects.
DWF Labs’ goal is to reinvigorate projects’ ability to continue building despite current challenges. The fund aligns with their commitment to supporting Web3 projects and ensuring they have the necessary resources to thrive in challenging times.
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