Web3‌‌🌗Wednesday Narratives: Trump Backs Bitcoin Mining, Tether's $1B Plan, HK's Crypto ETF Flexibility, ICBC's Bitcoin & Ethereum Insights

Welcome to another exciting day in the world of Web3! As the digital landscape continues to evolve, we're here to bring you the latest updates and insights into the realm of cryptocurrencies and blockchain technology. Today's stories cover a diverse range of topics, from the intersection of politics and Bitcoin to major investment plans and innovations in financial instruments. Join us as we delve into the dynamic world of Web3, where every day brings new opportunities and developments shaping the future of finance and technology. Let's explore together and uncover the trends driving this rapidly evolving ecosystem.

1. Trump Advocates Bitcoin Mining as CBDC Safeguard

Presidential contender Donald Trump has voiced strong support for Bitcoin mining, calling it the final defense against central bank digital currencies (CBDCs). At a meeting with Bitcoin miners at Mar-a-Lago, including firms like CleanSpark, Trump pledged to advocate for the industry if re-elected. He emphasized the need for the U.S. to lead in Bitcoin production and criticized President Biden's stance on cryptocurrency, suggesting it benefits adversaries like China and Russia. Despite concerns over high energy consumption, Trump remains firm on boosting the U.S. Bitcoin mining sector.

Donald Trump Touts Bitcoin Mining As Final Defence Against CBDC

Presidential contender Donald Trump has been in the headlines for his newfound interest and inclination........…

Watcher GuruSahana Kiran

2. Tether Plans $1B Investment Spree Next Year

Tether plans to invest $1B in financial infrastructure, AI, and biotech, per CEO Paolo Ardoino. The stablecoin developer has already invested $2B in these areas and aims to continue. Tether, operator of USDT, allocates a portion of its reserves, primarily in U.S. treasury bills, for these deals. Ardoino emphasizes reducing reliance on big tech like Google and Amazon. Notable investments include a $200M stake in Blackrock Neurotech and involvement with Northern Data Group.

Tether Expects to Invest Over $1B in Deals in the Next Year: Bloomberg

Tether’s focus for investment is financial infrastructure, AI and biotech, CEO Paolo Ardoino said in an interview.

CoinDeskJamie Crawley

3. Hong Kong Finance Chief Praises Versatile Crypto ETFs in Web3 Surge

Hong Kong’s finance secretary emphasized the city's innovative in-kind subscription and redemption features for its six spot crypto ETFs, aiming to boost its position as a regional cryptocurrency hub. These ETFs offer greater flexibility for investors. Despite lower trading volumes compared to U.S. counterparts, Hong Kong is exploring staking options within spot ether ETFs to enhance competitiveness. Additionally, the government issued $770 million in multi-currency tokenized bonds, marking the world's first digitally native multi-currency green bonds. These steps reflect Hong Kong's commitment to advancing its Web3 and crypto regulatory landscape.

Hong Kong’s top finance official touts flexible crypto ETF features amid web3 push

Treasury chief Christopher Hui said the in-kind subscription and redemption feature of spot crypto ETFs gives investors more flexibility.

The Block[email protected]

4. ICBC Acknowledges Bitcoin's Edge Over Gold, Dubs Ethereum 'Digital Oil'

ICBC, the world's largest bank, favors Bitcoin over gold for its divisibility and portability, per Odaily. Ethereum is dubbed 'Digital Oil', reflecting its pivotal role in the digital economy. This recognition signals a shift in traditional banking towards embracing cryptocurrencies' practicality and potential. ICBC's comparison underscores Bitcoin and Ethereum's growing importance in global finance.

ICBC Recognizes Bitcoin’s Advantages Over Gold, Labels Ethereum as ‘Digital Oil’

According to Odaily, the Industrial and Commercial Bank of China (ICBC), the largest bank globally, has acknowledged the benefits of Bitcoin over gold. The bank has highlighted Bitcoin’s ability to so

Binance SquareBinance News

As we conclude our exploration of today's Web3 stories, it's clear that the world of cryptocurrency and blockchain technology is vibrant and ever-changing. From political figures like Donald Trump advocating for Bitcoin to major financial institutions like ICBC recognizing the potential of digital assets, the landscape continues to evolve rapidly. As we look ahead, it's essential to stay informed and engaged with these developments, as they have the potential to reshape the future of finance and technology. We'll continue to bring you the latest updates and insights into the exciting world of Web3. Thank you for joining us on this journey, and until next time, keep exploring, learning, and innovating in the realm of decentralized technologies.

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