Schlagwort: crypto business

• Tether has made an entry into the AI space with a strategic investment in Bitcoin miner Northern Data.
• Media reports say Tether purchased 10,000 Nvidia H100 GPUs worth $420 million.

Tether, the company behind the $83 billion stablecoin USDT, has marked its foray into the AI tech space with a strategic investment in Europe-based crypto mining firm Northern Data.

A news release by Tether noted that the investment was made via Damoon, a Tether group company. The stablecoin issuer did not disclose the amounts involved, only stating that Forbes’ report had misrepresented the company’s “stake size in the investment.”

“We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers,” said Paolo Ardoino, the Tether CTO.  He added: “This investment underscores our commitment to responsible growth and innovation while preserving the strength and integrity of Tether tokens’s reserves.”

Tether will collaborate with Northern Data on various AI initiatives, peer-to-peer communications, and data storage solutions.

Global demand for AI GPUs

Nvidia’s H100 is arguably one of the most important computer chips in the market, partly why the Nasdq-listed company has a massive bet on AI. Even though it’s priced at $40,000, the H100 is seeing massive demand thanks to its capabilities around heavy-duty data processing. It’s a key commodity in the AI startup world.

In its report, Forbes said Tether had made a $420 million investment in Northern Data’s artificial intelligence business, purchasing 10,000 Nvidia H100 GPUs via Damoon. Per the publication, Tether was set to acquire a 20% stake in Northern Data, which will rent the in-demand chips to startups across the AI industry.

Tether does acknowledge that the deal with Northern Data puts it on the cusp of becoming the “biggest independent AI player in Europe.” That’s likely given the investment is reportedly bigger than what some countries have outlined.

For example, a recent report by The Telegraph indicated that the British government planned to spend $120 million (£100 million) on GPUs. Elsewhere, Saudi Arabia is said to have acquired 3,000 pieces of the Nvidia H100 as it looks to power its AI projects.

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• Chancer presale has surpassed $2.1 million, adding over $400k in less than a week.
• Meanwhile, the crypto market remains ranged after reaction to Fed rate hike decision.

While crypto largely mirrored stocks amid a broader market retreat following the Federal Reserve’s latest policy decision, a notable feat looked bang on cards for Chancer (CHANCER). Days after releasing the first update for the highly anticipated project, Chancer’s presale has stormed past $2.1 million raised.

Amid growing interest in crypto and projections for the global sports betting industry, is Chancer the platform for the long-term crypto bet?

Crypto mirrors stocks as markets retreat after Fed decision

Bitcoin slipped below $27k again on Thursday, trading towards lows of $26,770 at the time of writing as cryptocurrencies shed nearly 1% of the total market cap to about $1.09 trillion. Bitcoin initially fell 1.3% to trade at $26,749, while Ethereum shed 1% to touch lows of $1,600.

US stocks closed lower on Wednesday after the Fed hinted at a higher for longer path in its interest rates decision. The sentiment across the market was largely downbeat as investors also awaited the Bank of England’s policy decision.

In a comment on the stock market reaction, Mohamed A. El-Erian, President, Queen’s College, Cambridge and advisor at Allianz, said:

“The FederalReserve didn’t hike its interest rates but the markets raised theirs in reaction to what they heard at the Fed press conference: Yields on US government bonds surged across the board this afternoon, with the 2-year at its highest level since 2006 and the 30-year since 2011.”

Despite the declines, investors are confident the next bull cycle is shaping up. Some analysts say investors might see altcoins as a good play ahead of this. Also observed is a keen interest in new projects deemed to have the strongest product offering – the crypto sports betting and gamefi space being one of the hottest today.

What is Chancer?

Chancer is a blockchain-based project looking to offer the world’s first decentralised social betting platform. Unlike traditional betting platforms, Chancer will allow users to create their own bets or participate in a peer-to-peer (P2P) marketplace. Basically, it’s a new prediction markets platform that removes the centralization of legacy bookmakers – nothing like “house” on Chancer.

The platform is powered by CHANCER, a utility token that will offer access to passive income opportunities like staking.

Chancer presale hits $2.1 million

On September 12, Chancer announced an update to its product development, with reference to the roadmap and whitepaper highlighting progress towards key milestones.

As Paul Kelbie, Chancer’s head of product, noted in a statement, there’s a lot of progress in terms of building out the betting mechanics, leaderboards and social sharing. According to him, most of the “foundational work” has been done and Chancer is poised for the second phase of its product development ahead of the beta launch.

The update has the community buzzing and that has reflected in the CHANCER presale – investors have purchased over $400k worth of the native token in just over a week. From $1.7 million raised on September 12, the presale page shows over $2.1 million. This moves Chancer closer to the targeted $3 million raise, funds that will help bring the blockchain-based betting platform to the market.

Interested crypto enthusiasts and sports betting aficionados can find out how to buy Chancer here.

The post CHANCER eyes new milestone days after first product update appeared first on CoinJournal.

• The Alchemy Pay platform supports payments in 173 countries.
• In January 2023, Alchemy Pay earned recognition as an official service provider by Visa,
• In June 2023, Alchemy Pay was included as one of the compliant service providers within Mastercard’s Site Data Protection program.

Alchemy Pay, a cryptocurrency payment gateway, is significantly expanding its global presence following the successful acquisition of a significant payment license in the United States. On September 20, the company officially announced that it had secured a Money Transmitter License in the state of Arkansas.

The license was granted by the Arkansas Securities Department and empowers Alchemy Pay to offer a wide range of financial services, including the sale and issuance of payment instruments, stored value, prepaid access, as well as the receipt and transmission of money, virtual currency, and monetary value.

The news resulted in a significant surge in the price of Alchemy Pay (ACH) token. The token briefly jumped above $0.016 before pulling back to $0.01542 at press time.   

Crypto-to-fiat transactions in Arkansas

The license positions Alchemy Pay alongside other cryptocurrency firms authorized to facilitate crypto-to-fiat transactions in Arkansas, such as Coinbase, Block (led by Jack Dorsey), MoonPay, bitFlyer exchange, and others. Obtaining the Money Transmitter License is a significant milestone for Alchemy Pay as it actively seeks local regulatory approvals in key global markets. The company previously secured licenses in regions, such as Indonesia and Lithuania.

According to Alchemy Pay’s announcement, the company is currently pursuing Money Transmitter Licenses in additional states across the United States.

Robert McCracken, Alchemy Pay’s ecosystem lead, emphasized their commitment to compliance, highlighting the substantial investments in securing licenses in various countries and regions. He stated that the company is now poised to expand its presence, extend its services to US users, and continue its mission of bridging the gap between the fiat and crypto global economies.

The expanding Alchemy Pay global presence

Established in 2018 in Singapore, Alchemy Pay operates a crypto-to-fiat payment platform that facilitates transactions between traditional fiat currencies like the US dollar and the euro and popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

The Alchemy Pay platform currently supports payments in 173 countries, including prominent jurisdictions and regions like Australia, Canada, Hong Kong, the United Arab Emirates, India, and many others.

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