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Stablecoins surged to a record $187.5 billion in supply in 2024, driven by demand in emerging markets and their use as a hedge against volatility. However, their rise has raised regulatory concerns, as they now account for a majority of illicit transactions, surpassing Bitcoin in this regard. As the market evolves, stablecoins are becoming critical financial infrastructure, with potential growth to $500 billion or even $1 trillion by 2025, despite ongoing regulatory challenges.
Ethiopia has officially launched a securities exchange, marking a significant step in Prime Minister Abiy Ahmed's initiative to liberalize the nation's tightly controlled economy and attract private investment. This development is seen as a milestone in the country's economic reform efforts.
Former President Jimmy Carter passed away on December 29, 2024, at the age of 100, marking a National Day of Mourning on January 9, 2025. Flags are flown at half-staff in his honor, and federal offices, including the Supreme Court, will be closed that day. A national funeral service is scheduled at the Washington National Cathedral, attended by all living former presidents.
Ethiopia is set to launch its first stock exchange in over 50 years, aiming to attract investors amid ongoing regional challenges. Ethiopia Investment Holdings plans to raise up to 30 billion birr ($234 million) through an initial public offering of shares in Ethio Telecom, marking the exchange's debut. The government intends to list additional state-run companies in the future.
BitFuFu has secured a two-year agreement with Bitmain to acquire up to 80,000 S-series Bitcoin mining rigs, including the latest S21 XP and S21 Pro models. This strategic partnership aims to enhance BitFuFu's self-mining and cloud mining operations, targeting an additional 1 GW of capacity by 2026. The deal allows for flexible payments, including part in shares and deferred cash payments, ensuring liquidity while supporting growth.
BitFuFu's shares rose 13% to $5.60 following a two-year agreement with Bitmain to purchase up to 80,000 Bitcoin miners, including the advanced S21 XP and S21 Pro models. This partnership aims to enhance BitFuFu's mining infrastructure, targeting an additional 1 gigawatt capacity by 2026. The firm currently manages 26.2 EH/s hashrate and holds 1,664 BTC valued at approximately $161 million.
Trump's call for all remaining Bitcoin to be mined in the US faces significant hurdles, as experts highlight global competition and Bitcoin's decentralized nature. Currently, US miners account for less than 50% of Bitcoin's computational power, with countries like China and Russia leading due to lower energy costs and regulatory advantages. As 95% of Bitcoin's total supply has already been mined, controlling future production remains a complex challenge.
Ethiopia's Grand Ethiopian Renaissance Dam is transforming excess hydroelectric power into a lucrative Bitcoin mining operation, generating 18% of Ethiopian Electric Power's revenue. With competitive electricity tariffs attracting international miners, the country has secured deals with 25 Bitcoin mining businesses, yielding tens of millions in income. This initiative not only boosts the economy but also supports environmental projects across Africa, showcasing the potential of renewable energy in the crypto sector.
Nexus recently completed a five-day testnet that engaged over 1.5 million nodes from 187 countries, highlighting significant global interest in decentralized computing. With 37% of network traffic from mobile devices, the initiative aims to create a global distributed network while maintaining control over the programs run on its platform. Nexus, which raised $25 million in Series A funding, is part of a growing movement in blockchain-based computing alongside other platforms like Internet Computer and Golem Network.
Nexus' decentralized supercomputer testnet attracted over 1.5 million nodes from 187 countries in just five days, demonstrating significant global interest. The testnet, which ran from December 9 to 13, featured around 800,000 web nodes and 700,000 command-line interface nodes, with mobile devices generating 37% of the traffic. CEO Daniel Marin emphasized the need for trust-driven innovations in blockchain and AI while acknowledging the company's selective control over the programs supported by the network.
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