Top Crypto News Of The Day: Nigeria’s Blockchain Research Centers, Polkadot Collapse, and More

Here is the top crypto news of the day curated by CoinChapter.com.

Nigeria Plans Nationwide AI and Blockchain Research Centers

The Nigerian government’s National Information Technology Development Agency (NITDA) has announced plans to establish research centers focused on emerging technologies across the country’s six geopolitical zones. These centers will target critical areas including AI, blockchain, Internet of Things, unmanned aerial vehicles, additive manufacturing, and robotics.

NITDA aims to support Nigerian startups in developing products using these technologies through innovation sandboxes. The agency is also involved in the government’s 3 Million Technical Talent program, which aims to train and empower three million Nigerians by 2027. This initiative, along with large youth population and vibrant startup ecosystem, positions the country as a potential “Africa’s next Silicon Valley.”

Crypto News: Polkadot Won’t Survive Beyond 2026

Polkadot, a blockchain platform, faces an uncertain future, according to recent financial reports and expert analyses. Its treasury currently holds just under $245 million, but at the current spending rate, Polkadot might exhaust its budget within two years.

In the first half of 2024, Polkadot spent $87 million, 2.4 times higher than in the latter half of 2023. A significant portion of this ($36.7 million) went into marketing efforts, including collaborations with Lionel Messi and various sponsorships. Despite this lavish outlay, the number of active accounts has declined, raising concerns about the platform’s long-term viability.

Read Full Story Here: Polkadot Won’t Survive Beyond 2026 — Analyst Says

MiniPay Offers USDT and USDC

Opera is upgrading the cryptocurrency wallet on its mobile browser Opera Mini by integrating Tether’s USDT and Circle’s USDC stablecoins. MiniPay, the built-in wallet, is introducing a new feature called Pockets. This will enable one-click swaps between these stablecoins and the Celo dollar (cUSD).

The Pockets feature allows users to easily switch between USDC, USDT, and cUSD using a drag-and-drop motion. This upgrade aims to simplify asset swapping in Web3, making it more accessible to users.

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, facing money laundering charges, while Anjarwalla reportedly fled to Kenya in March.

Gambaryan’s health has deteriorated during his 128-day detention, 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, stating that disputes between Binance and Nigerian authorities should not involve her husband.

Read Full Story Here: Binance Executive’s Trial Resumes July 5 as Family Cites Health Issues

DWF Labs Launches $20M Fund for Web3 Projects in China

DWF Labs, a Web3 investor, has launched the $20 million Cloudbreak Fund to support Web3 projects in Chinese-speaking regions. The fund aims to provide investments and strategic resources to accelerate the growth of projects in sectors including gaming finance, social finance, memecoins, derivatives, and layer-1/layer-2 projects.

DWF Labs hoping to reinvigorate projects’ ability to continue building despite current challenges. The fund aligns with DWF Labs’ commitment to supporting Web3 projects and ensuring they have the resources needed to thrive in challenging times.

Follow CoinChapter to stay up-to-date on the latest crypto news and insights.