FameEX Morning Crypto News Recap | July 7, 2023

Progressing Towards an All-in-One 'Everything App': Expanding Licenses Across Three States
Twitter has obtained money transmitter licenses in Missouri, Michigan, and New Hampshire, as part of its goal to acquire licenses in all 50 U.S. states. With these recent approvals, Twitter can now operate as a payment provider in these three states, moving closer to its vision of becoming an all-in-one 'everything app'.

Deployment of 2,600 Bitcoin Miners at Mawson Infrastructure Group's Newly Acquired Pennsylvania Site
Mawson Infrastructure Group, a publicly-listed bitcoin mining operation, has acquired a mining site in Bellefonte, Pennsylvania. The company wasted no time in deploying 2,600 bitcoin miners at the newly acquired location, expanding its mining operations.

Ark Invest Report Unveils 70% of Bitcoin Supply Unmoved for a Year
According to a report by Ark Invest, bitcoin (BTC) has gained support from dedicated holders and improved institutional sentiment. In June, the percentage of bitcoin supply untouched for a year hit a record high of 70% of the circulating supply, indicating strong holding behavior and growing confidence among institutions.

Outflows of Over $100M in Multichain MPC Bridge Raise Concerns of Potential Exploit
Withdrawals exceeding half of the deposited amount in Multichain contracts on Ethereum have raised concerns of a potential exploit. Around $102 million was withdrawn from Multichain's Fantom bridge on Ethereum, along with $666,000 from Dogechain and $5 million from Moonriver, prompting on-chain analysts to sound the alarm.

UAE Establishes Itself as a Bitcoin Mining Hub in the Middle East
The UAE has emerged as a significant Bitcoin mining hub in the Middle East, with an estimated mining capacity of around 400 megawatts, equivalent to 4% of the global Bitcoin hash rate. Additionally, the country is transitioning to solar and nuclear energy sources to reduce its dependence on natural gas.

Banking Group Warns: Accelerating Tokenization Crucial for UK's Financial Future
UK Finance emphasizes the importance of the United Kingdom catching up with other jurisdictions in securities tokenization to maintain its global financial leadership. The advocacy group urges the British government to promote securities tokenization, highlighting the high stakes involved despite the current small market size.

Elon Musk Urges Regulatory Oversight for AI
Elon Musk, in a keynote address at a Chinese AI conference, emphasized the need for governments to address the potential risks of advanced artificial intelligence (AI). He called for increased regulatory oversight, warning that AI could surpass human intelligence in all domains. Musk's ongoing advocacy for AI regulation highlights his concerns about its future implications.

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