COCO PAY presents a roundup of the most important Web3 news from the past week. Don’t miss out!
– The Chinese AI startup DeepSeek has unveiled its new model, DeepSeek-R1. It requires only 2,000 GPUs, significantly fewer than the 100,000 GPUs used in GPT-4. Moreover, its training cost is about 20 times lower than that of OpenAI’s o1 model.
– OpenAI, Oracle, and SoftBank Group have launched Project Stargate, a massive $500 billion initiative aimed at building large-scale solar-powered data centers supplied by SB Energy.
– The cryptocurrency exchange KuCoin has admitted to operating an unregistered money transfer service in the U.S. and has agreed to pay fines and compensation totaling approximately $300 million.
– The U.S. Senate has confirmed billionaire Scott Bessent as Treasury Secretary with a 68-29 vote. His nomination was supported by 16 Democrats.
– Former SEC Chair Gary Gensler, who stepped down on January 20, 2025, has returned to academia, resuming his teaching role at the Sloan School of Management at MIT.
– The Crypto.com platform has announced that it will discontinue support for USDT (Tether) for users in the EU. This decision comes in response to compliance requirements under the new MiCA regulations governing the cryptocurrency market in the region.
– Elon Musk is exploring the possibility of integrating blockchain technologies into government operations to enhance efficiency, including spending control, data security, and payment automation.
– Despite the rise of more affordable AI solutions like DeepSeek, Meta plans to continue investing “hundreds of billions” of dollars in artificial intelligence development.
More updates coming soon. COCO PAY – always ahead of the game!
