COCO PAY has prepared a digest of the most relevant web3 news from the past week. Find out what you might have missed!
Historical High in Stablecoin Capitalization
CCData analysts have released a fresh report indicating that the market capitalization of stablecoins has reached a two-year high, amounting to $161 billion. This is the highest figure since April 2022.
Political Meme Tokens Shaken by Trump’s Trial Verdict
Following Donald Trump’s conviction on 34 counts of falsifying business records, meme coins associated with him showed significant volatility. The MAGA token dropped by 20%, with its market capitalization shrinking by over $150 million.
Changpeng Zhao Begins Prison Sentence
Former CEO of cryptocurrency exchange Binance, Changpeng Zhao (CZ), has arrived at the federal prison in Lompoc, California, USA, to serve his sentence.
Joe Biden’s Veto on SAB 121 Repeal Resolution
US President Joe Biden vetoed a resolution that would have annulled the SEC’s Staff Accounting Bulletin 121 (SAB 121). This document regulates the accounting obligations of firms handling crypto assets.
AI Company Employees Sign Petition on Uncontrolled AI Use Risks
Employees of AI companies signed a petition highlighting the need for greater transparency regarding the capabilities and risks of their technologies. Currently, companies are required to provide only part of this information to governments, but not to the public.
Bybit Opens Registration for Chinese Residents
Cryptocurrency exchange Bybit has started registration and KYC verification for users from China. This may be linked to the exchange’s withdrawal from registration in Hong Kong.
Nvidia Surpasses Apple in Market Capitalization, Becoming the Second Most Valuable Company in the World
Nvidia’s market capitalization reached $3 trillion for the first time, surpassing Apple and Google. On June 5, 2024, Nvidia’s stock price surged by 5%, setting a new historical high at $1,224.
More news coming soon. COCO PAY – always on the same wavelength with you.
