UMA crypto token went vertical on Friday, reaching its highest point since March, even as other cryptocurrencies retreated. UMA ( UMA ) surged to a high of $1.440, gaining over 40% from its weekly low. The rally pushed its market capitalization above $112 million. The token jumped after Polymarket, a popular prediction market platform, announced a partnership with Elon Musk’s X. Polymarket will serve as the official prediction market partner for the social media giant. The partnership is significant for UMA because it serves as the oracle provider for Polymarket. UMA’s optimistic oracle offers a decentralized and trustless mechanism for resolving market outcomes on the platform. . @UMAprotocol secures @Polymarket Just wanted to let yall know https://t.co/Ds5ZphAzkd — Kanishk Khurana (⛺️,🔮) (@KanishkKhurana_) June 6, 2025 Polymarket likely selected UMA for its robust feature set, including the ability to process diverse data types such as natural language questions. It also has a decentralized dispute resolution mechanism, further enhancing its reliability. You might also like: Cookie crypto price crumbling? Support holding firm at key level As a result, UMA’s price rallied on investor expectations that the deal could drive long-term growth, given X’s massive scale. The platform is one of the largest players in social media, with between 240 million and 300 million active users and more than 650 million monthly users overall. As such, there is a likelihood that X will boost the number of Polymarket users, which will in turn lead to more fees for UMA. UMA’s oracle makes money by taking a small fee for all outcomes it resolves. It also takes a cut in cases of dispute resolution. It has handled 1,075 disputes on Polymarket over time. You might also like: Immutable price drops even as Guild of Guardians NFT sales jump
Gemini is set to follow Circle’s successful IPO by filing for its own public offering, marking a significant development in the evolving crypto market landscape. The Winklevoss twins, founders of
Experts said the CLARITY Act crypto market structure bill will encourage TradFi firms to adopt blockchain as a means to evade regulation.
U.S. stock markets showed resilience as the latest jobs report surpassed expectations, boosting investor confidence and lifting major indices. The report highlighted steady job growth and a stable unemployment rate,
Circle’s USDC issuer continues to impress investors as its stock nears a fourfold increase from its $31 IPO price within just two trading days. The company’s market capitalization surged to
Real-time slashing, isolated vaults and a yield tug-of-war between sGHO and stkGHO
Switzerland has taken a significant step in global crypto regulation by approving the automatic exchange of crypto asset information with 74 countries, excluding the US and Saudi Arabia. This initiative
The UK’s appetite for AI infrastructure could come at a hefty price as a proposed £10 billion data center at Elsham, Lincolnshire, could emit more greenhouse gases each year than five of the country’s busiest airports combined. According to The Guardian, the data center is expected to house 15 enormous server halls and, at full capacity, is projected to produce vast amounts of carbon emissions, igniting debates on the environmental costs of the UK’s AI aspirations. Is the UK chasing AI supremacy over green goals? Plans submitted last month for the complex, located roughly nine miles east of Scunthorpe, estimate electricity use of around 3.7 billion kilowatt-hours annually, generating up to 857,254 tons of carbon emissions if powered by today’s National Grid mix. For perspective, that’s five times the carbon output of Birmingham Airport, take-offs and landings included. A public consultation on the scheme closes in three weeks. Organizers acknowledge the extreme heat produced by so many high-performance computers and have proposed glasshouses to capture and reuse the waste warmth, in theory growing over 10 tons of tomatoes a day. Yet building enough renewable generation on-site has been dismissed as impractical. Biomass would demand 100 lorry deliveries of wood chips daily; wind turbines would number 10,000 if each stood just 20 meters tall, and solar panels would need an area five times the size of the Glastonbury Festival grounds. The backers, Elsham Tech Park Ltd, say they will “endeavor to purchase green power where possible” and hope that by the center’s anticipated opening in 2029, cleaner energy on the grid will cut actual emissions below today’s forecast. A government spokesperson has underlined the need to meet AI’s power demands responsibly, pointing to advanced modular nuclear reactors as a “particularly important” solution, and promised planning reforms to accelerate nuclear builds nationwide. Industry giants are already wrestling with these tensions. Microsoft admitted this week that despite a 2019 pledge to hit net-zero carbon by 2030, its overall emissions have climbed by 23%, driven largely by AI expansion. Meta has just agreed to a 20-year power purchase deal with an Illinois nuclear station, while Amazon and Google are exploring their own nuclear ventures to secure low-carbon electricity for ever-hungry AI servers. Experts want new data centers to trigger an equivalent rollout of renewables Research paints an even starker picture of the sector as a whole. The Öko-Institut in Germany projects that by 2030, carbon emissions from AI data centers will be six times higher than in 2023. Greenpeace argues that every new data center must trigger an equivalent rollout of renewables to prevent the carbon footprint of our digital lives from spiraling out of control. Yet many experts believe AI itself could bolster the transition to a zero-carbon economy, optimizing power networks, accelerating materials discovery for clean technologies, or driving efficiencies across industry. Martha Dark, co-executive director of London-based non-profit Foxglove, warns that Britain’s two big government objectives, fueling AI growth and hitting net zero by 2050, are now on a collision course. “The prime minister has hailed generative AI data centers as miracle beans for our economy while also promising to purge toxic pollution and reach carbon neutrality,” she said. “It’s decision time: does the government want a growth plan that truly benefits Britain, or one that best serves the interests of Amazon, Google and Meta?” – Dark. Local officials are keen to see the investment. Robert Waltham , leader of North Lincolnshire Council, stresses that data centers bring high-value jobs, Elsham Tech Park Ltd expects to employ around 900 people and can underpin crucial social services. His council is already piloting AI chatbots to help elderly residents manage their medications, helping them live independently for longer. For its part, the developer highlights Elsham’s position amid the UK’s most advanced “clean energy cluster,” with access to a third of the nation’s offshore wind capacity and two-thirds of licensed carbon capture and storage sites. Still, the debate over whether to prioritize rapid AI expansion or carbon reduction will only intensify as ministers press ahead with plans to fast-track both data centers and new nuclear capacity. In the coming weeks, the public consultation will reveal whether local voices side with the promise of high-paying tech jobs or with those who demand a greener path. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Ripple’s stablecoin RLUSD has experienced a significant volume decline, dropping over 57% amid waning user demand and halted minting activities. This downturn raises questions about the broader impact on XRP,
Stocks are in recovery mode after the latest jobs report beat expectations, while Tesla regained some of its losses. U.S. stock indices rebounded on Friday, June 6, following stronger-than-expected jobs data. The Dow Jones rose 300 points, or 0.7%, while the S&P 500 gained 0.75%. At the same time, the tech-heavy Nasdaq climbed 0.97%, with major indices buoyed by encouraging figures on U.S. employment. According to Friday’s report, U.S. employers added 139,000 new jobs , lower than the revised April figure of 147,000 but still ahead of expectations. Meanwhile, the unemployment rate held steady at a relatively low 4.2%. Overall, the report signaled that the U.S. job market remains resilient despite ongoing concerns over the trade war. Nonfarm payrolls data is a key metric for the Federal Reserve, which maintains a dual mandate of supporting employment and keeping inflation low. The stronger-than-expected figures are likely to keep the Fed cautious about cutting interest rates, as inflation remains a concern. Following the positive news on the job market, U.S. President Donald Trump once again launched an attack on the Fed. Trump urged Fed Chairman Jerome Powell to lower interest rates to stimulate the economy. “Go for a full point, Rocket Fuel!” Trump stated on social media. You might also like: U.S. jobs report sends mixed signals, Bitcoin traders eye Fed’s next move Tesla somewhat recovers from the Musk-Trump feud Tesla shares recovered around 5% as traders viewed the sharp sell-off as a buying opportunity, following steep losses tied to the public feud between Elon Musk and Donald Trump. The tech CEO and former Trump ally had called for the president’s impeachment and claimed Trump was named in the Jeffrey Epstein files. This public feud resulted in Tesla shares losing 14% on Thursday, and Musk’s personal wealth dropping by $34 billion. Later, Elon Musk signalled he would cool tensions with President Donald Trump, which Trump rejected , claiming Musk has “lost his mind.” Read more: Musk dragging Trump into the Epstein files has nothing to do with the crypto market — and everything to do with it