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On today's issue:
Tether's 5.2B profits
Arweave's AO
Trump's BTC
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Tether's 5.2B profits
Tether released it's Q1 earnings report, and surprise, it was amazing:
Printing 5.2B in net profit for H1
It's U.S. Treasury holdings reached an ATH of $97.6B
8.3B in new USDT tokens issued during Q2
As a comparison, Circle, the USDC issuer is going public soon at an estimated 5B valuation, way less
Read More
Arweave's AO
This week, Arweave announced the creation of the AO supercomputer on the permaweb. It's been 7 years since Sam Williams and the team have been working on decentralized and open storage model on Arweave, now, AO is the next step:
"a decentralized computing system inspired by the actor-oriented paradigm. It establishes a single system image capable of supporting numerous parallel processes without the constraints typical of current decentralized computation models"
Lot's of fancy words there. Check the linked video below to find out how it works in detail.
They did mention that there's going to be a token model, and that minting of these tokens will be available for $AR token holders first in the near future.
They also announced the creation of a venture/ecosystem fund focused on the AO supercomputer.
Since the testnet released, 400 million messages have been sent.
Trump's BTC
We all know it. This week during the BTC conference in Nashville, Trump, Senator Lumis, and RFK announced that they want the government to hold BTC to diversify their treasury reserves. For now, the crypto crowd is going wild for them, specially when Trump mentioned kicking out Garry Gensler ASAP.
Is it a campaign strategy? Yes
Is it bullish? Yes
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