COCO PAY presents a roundup of the most important news from the web3 world over the past week. Don’t miss out!
– The U.S. presidential elections have led to a rise in high-risk loans in the DeFi sector, where the total amount of outstanding loans has exceeded $5 million, reaching its highest level since July 2022.
– Richard Teng, the head of Binance, called Donald Trump’s victory in the U.S. presidential elections a “major success for the crypto industry,” predicting the start of a “golden era.”
– AI technologies are facing new limitations: OpenAI’s Orion model, which reached the level of GPT-4 after 20% training, has started showing signs of slowing performance growth.
– Donald Trump established the Department of Government Efficiency (DOGE), aimed at analyzing and optimizing federal expenditures and regulations. Elon Musk was appointed as the head of the department.
– Apple is preparing to release a wall display with Apple Intelligence support for smart home management and video conferencing.
– On November 13, the FBI searched the home of Polymarket CEO Shane Coplan, seizing his phone and electronic devices.
– The UK Treasury plans to introduce two bills regulating the stablecoin market by the end of November 2024.
More news coming soon. COCO PAY — always on top of the news!
