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Tether CEO reportedly plans a new stablecoin for the U.S market, dedicate USDT to emerging markets
WLFI token launches in September with community-focused distribution and governance. WLFI will be listed on both centralized and decentralized exchanges after launch. Continue Reading: WLFI Token Launches, Empowering Community-Driven Governance The post WLFI Token Launches, Empowering Community-Driven Governance appeared first on COINTURK NEWS .
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In a recent report, the International Monetary Fund (IMF) stated that El Salvador has not purchased any Bitcoin since December of last year. The Central American countryâs Bitcoin Office has published regular updates on X, claiming that El Salvador is purchasing Bitcoin regularly. However, the IMF stated that El Salvador was merely moving BTC between government wallets. The IMF says El Salvador lied about its BTC purchases The IMF report is the first review of the 40-month, $1.4 billion Extended Fund Facility (EFF) arrangement with El Salvador. In the report, the IMF stated that âthe overall stock of Bitcoin held by the public sector has remained unchanged since program approval.â This statement debunks El Salvadorâs claims of purchasing 1 BTC every single day. The IMF explained that the perceived increase in El Salvadorâs public Bitcoin reserves was due to internal transfers and wallet consolidations among government-controlled wallets. More specifically, the BTC movements occurred between the Strategic Bitcoin Reserve Fund and the Chivo eâwallet. The IMF report included a footnote that says, âIncreases in Bitcoin holdings in the Strategic Bitcoin Reserve Fund reflect the consolidation of Bitcoin across various governmentâowned wallets.â The report, however, noted minor fluctuations in Chivo wallet balances due to client deposit activity. These were not the result of new public BTC purchases. As part of its $1.4âŻbillion Extended Fund Facility agreement, the IMF explicitly required ElâŻSalvador to halt new Bitcoin purchases. Nayib Bukele, the president of El Salvador, took to X on March 4 and said , âNo, itâs not stopping. If it didnât stop when the world ostracized us and most âbitcoinersâ abandoned us, it wonât stop now, and it wonât stop in the future. Proof of work > proof of whining.â The rhetoric of the Salvadoran government is mostly showmanship, but its actions align with the IMFâs demands. At the moment, the countryâs Bitcoin Office website claims that the fund holds 6,242.18 BTC and an increase of 30 BTC in the last 30 days. BitcoinâŻCity stalled, other projects halted At the end of 2021, Nayib Bukele announced his plan to build a Bitcoin City in the southeastern region of La UniĂłn. Bukele promised zero income tax, zero property tax, no procurement tax, zero city tax, and zero COâ emissions. After almost four years, Bitcoin City remains a proposal, and no construction has commenced. Volcano Bonds, another project that promised the issuance of a $1âŻbillion Bitcoin bond, was indefinitely postponed in March 2022. The delayed issuance of the âVolcano Bondsâ was tied to global market volatility and Russiaâs invasion of Ukraine. At the time, the countryâs Finance Minister, Alejandro Zelaya, said on local TV, âWe believe that between March 15 and 20 is the right timing, we have the tools almost finished. But the international context will tell us ⌠I didnât expect the war in Ukraine.â The LaGeo crypto mining facility, a state-owned geothermal Bitcoin mining initiative, was announced in June 2021. Bukele proposed a plan to use 100% clean, volcano-powered geothermal energy to mine Bitcoin. He even shared a video of a Bitcoin mining facility using volcanic power. As of 2025, the mining project is reportedly inactive. Other projects, like El Salvadorâs Bitcoin-funded Chivo Pets hospital , were completely halted in March. El Salvadorâs long list of failed Bitcoin projects also includes an NFT casino, the Chivo Wallet, and Chivo Pets. The lie of a continuous Bitcoin acquisition is the final nail in the coffin. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
BitcoinWorld AI Startup Windsurf: The Unveiled Triumph After Bleak Mood to Cognition Deal In the fast-paced world where cutting-edge artificial intelligence meets the dynamic currents of venture capital, the journey of an AI startup can be fraught with unexpected turns. Just days after Windsurf, an AI coding innovator, announced its acquisition by Cognition, its interim CEO Jeff Wang pulled back the curtain on the intense drama and uncertainty that defined the deal. This story isnât just about a business transaction; itâs a testament to resilience in the face of adversity, offering crucial insights for anyone navigating the volatile landscape of tech and crypto investments. The Initial Storm: Navigating AI Startup Uncertainty The tech world often buzzes with rumors of major deals, and Windsurf was no stranger to the spotlight. Initially, reports linked the promising AI startup to acquisition talks with OpenAI, a potential union that could have reshaped the AI development landscape. However, as is often the case in high-stakes negotiations, this anticipated deal ultimately fell through. What followed was a complex series of events that sent ripples of uncertainty through Windsurfâs team. Instead of a full acquisition, Google DeepMind made a strategic move, hiring Windsurfâs former CEO Varun Mohan, co-founder Douglas Chen, and several key researchers. This arrangement reportedly involved Google licensing Windsurfâs technology for a substantial $2.4 billion, but notably, without taking an equity stake. This trend, dubbed âreverse acquihires,â has become a clever tactic for large tech companies to circumvent antitrust scrutiny. By absorbing talent and licensing technology rather than outright acquiring companies, they gain innovation without the regulatory headaches. But this approach leaves a critical question hanging: what becomes of the startups and the employees left behind? The Fallout: Why the OpenAI Deal Collapsed and Startup Morale Plummeted The impact of the Google DeepMind deal on Windsurf was immediate and profound. Jeff Wang, who stepped in as interim CEO after Mohanâs departure, recounted an all-hands meeting that Friday, June 11, which he described as having a âvery bleakâ mood. Most team members had arrived expecting news of the OpenAI acquisition, only to be confronted with the reality of key leadership departures and the new Google arrangement. The emotional toll was significant. Wang observed that âsome people were upset about financial outcomes or colleagues leaving, while others were worried about the future. A few were in tears, and the Q&A had been understandably hostile.â This period highlighted a severe blow to startup morale . The departure of key executives, especially in such a pivotal moment, can feel like a captain abandoning ship, as one founder reportedly likened it. Wang, while empathetic to Mohan and Chenâs difficult situation, was left to steer a ship facing a crisis of confidence and talent retention. A Glimmer of Hope: How the Cognition Deal Emerged Despite the severe blow to morale and the loss of key personnel, Wang recognized that Windsurf still possessed valuable assets: its intellectual property, product, and a strong remaining talent pool, particularly in its go-to-market (GTM) machine. The options were clear: seek new funding, pursue another acquisition, or continue independently. It was in this critical juncture that a new path opened. That very evening, Wang received an unexpected call from Cognition executives Scott Wu and Russell Kaplan. The conversation quickly turned serious, leading to intense negotiations over a frantic weekend. Wang recounted the whirlwind of discussions with Cognition, while also managing inbound interest from other potential acquirers and working tirelessly to convince Windsurfâs remaining engineers to stay. The two companies quickly identified a strong synergy. Wang noted, âWhile they had overinvested in engineering, they had frankly underinvested in GTM and Marketing, and our teams in those functions are nothing short of world class.â Conversely, Windsurf, now lacking a core engineering team, found an ideal partner in Cognition, renowned for its âbetter group of AI engineers.â This alignment proved crucial for the eventual Cognition deal . Beyond the Headlines: What This Tech Acquisition Means for Employees One of the most compelling aspects of the Windsurf-Cognition agreement was the commitment to its people. Wang emphasized his alignment with Cognitionâs Scott Wu on the critical need to âtake care of all Windsurf employees.â This shared principle translated into tangible benefits for the entire team, addressing one of the core anxieties that arose during the period of uncertainty. Key elements of the deal designed to support employees included: Payout to Every Employee: Ensuring financial compensation for all, not just a select few. Waiver of All Cliffs: Removing vesting cliffs, providing immediate access to equity. Accelerated Vesting: Speeding up the timeline for employees to gain full ownership of their Windsurf equity. This commitment stood in stark contrast to the initial Google DeepMind arrangement, which left many Windsurf employees in limbo. The successful negotiation of these terms transformed a period of despair into one of immense relief and celebration. Wang famously described that Friday all-hands as âprobably the worst day of 250 peopleâs lives,â followed by Monday, the day the deal was signed and announced, as âprobably the best day.â This tech acquisition serves as a powerful example of how strategic alignment and a focus on human capital can lead to a positive outcome even after significant setbacks. The Road Ahead for Windsurf Acquisition The finalization of the Windsurf acquisition by Cognition was a rapid process, with the agreement signed on a Monday morning, followed by internal and public announcements. This swift resolution brought an end to a tumultuous chapter for the AI startup and its dedicated team. The integration of Windsurfâs strong go-to-market capabilities with Cognitionâs deep engineering talent creates a formidable force in the AI coding space. This acquisition is more than just a business transaction; itâs a narrative of corporate resilience, strategic pivoting, and the critical importance of leadership during crisis. For those in the startup ecosystem, it offers valuable lessons on navigating failed deals, managing team morale, and identifying synergistic partnerships that truly benefit all stakeholders. As the AI industry continues its rapid evolution, such stories of survival and success provide crucial insights into building robust and adaptable ventures. The journey of Windsurf, from the brink of collapse after a major deal fell through and key departures, to its triumphant acquisition by Cognition, is a powerful reminder of the unpredictable yet often rewarding path of innovation. Jeff Wangâs candid account highlights the emotional and strategic challenges faced by startups, but also the immense potential for recovery when leadership remains focused on core strengths and employee well-being. This outcome not only secures Windsurfâs future but also sets a new benchmark for how acquisitions can prioritize people alongside profit. To learn more about the latest AI market trends, explore our article on key developments shaping AI models features. This post AI Startup Windsurf: The Unveiled Triumph After Bleak Mood to Cognition Deal first appeared on BitcoinWorld and is written by Editorial Team
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The recent signing of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act can only be described as a historic moment for the broader cryptocurrency sector. It is a further acknowledgement of the commitment of the pro-crypto administration of Donald Trump, the 47th President of the United States (POTUS). All Protocol Duly Observed For US GENIUS Act The US has welcomed its first significant piece of legislation since Trump assumed the presidency for the second time. The GENIUS Act, signed into law by the president, provides regulatory clarity for USD-pegged stablecoin issuers, including Tether, Circle, and Ripple. The GENIUS Act was first passed in the Senate about a month ago, with a decisive bipartisan vote of 68-30. Next was the House of Representatives, where Republicans maintain a narrow majority over Democrats. To ensure that the bill receives the required support, Trump urged members of the House to move âLIGHTNING FASTâ to send the bill to his desk, emphasizing, âNO DELAYS, NO ADD ONS.â America Enters a New Digital Finance Era Fast forward to the present day, America has taken a significant step forward in digital finance leadership by signing the bill into law. Notably, the US House also passed the CLARITY and Anti-CBDC Acts. For a nation that has battled regulatory uncertainty for years and faced criticism for it , the US has struck gold with these regulatory frameworks. Notably, the US Securities and Exchange Commission (SEC), under Gary Genslerâs leadership, has leveraged a regulation-by-enforcement approach that has triggered backlashes from crypto firms. American cryptocurrency exchange Coinbase has been unable to stop talking about the Commissionâs regulatory chaos . What Does the GENIUS Act Demand? Now that regulatory clarity for stablecoins has been established through the GENIUS Act, issuers are required to maintain a strict 1:1 reserve backing. Additionally, each digital dollar should be fully backed by a U.S. dollar or an equivalent low-risk asset. All Issuers in the region would be required to obtain either federal or state licenses and comply with Anti-Money Laundering (AML) protocols. In addition, stablecoin issuers would be restricted from using customer reserves for anything beyond redemption or safe investments, such as short-term Treasury securities. This is intended to reduce systemic risks and protect investorsâ funds. Precisely, it would avoid the kind of shadow banking issues that have plagued parts of the financial sector. The post GENIUS Act Marks the First Major Crypto Legislation Under Trump appeared first on TheCoinrise.com .
BNB Chain is preparing to scale for the next wave of on-chain activity in the second half of 2025 by raising its block gas limit to 1 G. This represents a tenfold increase from current levels and is expected to enable the network to handle high-volume use cases such as up to 5,000 decentralized exchange (DEX) swaps per second. BNB Chainâs Bold Bet According to the official blog post, BNB Chain aims to match Nasdaqâs scale and speed with its planned upgrade. The network expects to process 20,000+ transactions per second across complex on-chain actions, including swaps, restaking, and yield strategies, positioning itself for high-volume on-chain use cases. To support this throughput, BNB Chain will roll out a new Rust-based client with BSC-specific customizations by leveraging Ethereumâs Reth as its foundation. This multi-threaded client is designed to improve memory management, accelerate node syncing, and enable high-performance execution while maintaining efficiency. BNB Chain also plans to boost smart contract execution by introducing âSuper Instructions,â which optimize multiple common operations into single instructions to reduce performance bottlenecks, particularly in areas like DEX swaps and launchpad events. In addition to that, upgrades to the StateDB layer, which bridges the EVM and the storage system, are expected to improve state access speed and efficiency, addressing a component that currently accounts for about 30% of execution time on BSC. These improvements aim to reduce duplicated state access and improve cache access performance, to ensure that BNB Chain can support a larger dataset and more users as activity scales, while simultaneously maintaining low latency for builders and users operating on the network. BNB Turns Eight Earlier this week, BNB celebrated its eighth birthday, recording more than 10,000x growth since its initial coin offering (ICO) back in 2017, where it launched on Ethereum before migrating to the BNB Chain. Originally sold at $0.15, BNB now trades around $703, as the fifth-largest crypto asset. Binance initially launched BNB to serve as the native asset of its ecosystem and has since introduced mechanisms like the BNB Auto-Burn program, which has reduced supply by automatically adjusting burn amounts based on price and block metrics. As a result, the total supply has been lowered to around 139.28 million BNB, thereby contributing to its scarcity and price appreciation. Meanwhile, BNB is also experiencing rising institutional adoption. Some companies are adding it to their corporate treasuries, including at least one aiming to hold $1 billion worth of the asset. The post BNB Chain Says Its Next Evolution Will Match Nasdaqâs Scale and Speed appeared first on CryptoPotato .