π Kazakhstan has launched testing of a new stablecoin, KZTg, on the TON blockchain, and the most interesting part is that the project is being conducted under a special program of the National Bank, but the token itself was issued by a private company β therefore, it is incorrect to consider it a state stablecoin.
π± The value of KZTg is pegged to the tenge at a 1:1 rate, and developers state that each issued token is backed by real tenge in reserve.
Currently, the National Bank will observe the experiment and assess how viable such a model is, so for now, this is strictly a test project, making it too early to speak about its further development or full-scale launch.
βοΈ Other news:
π The yield on 10-year US Treasuries reached 5.01% β the highest level since October 2023.
π Saudi Arabia closed the key East-West oil pipeline following a drone attack β it transported up to 5% of global oil supplies.
π OpenAI will not conduct an IPO in 2026 due to AI safety concerns. And what actually happened, was explained in a new video on YouTube.
π Nvidia is in negotiations to invest up to $10 billion in Anthropic's IPO β the company wants to raise up to $100 billion at a valuation of around $2 trillion.
π Goldman Sachs and JP Morgan expect a 0.25% Fed rate hike at the September 16 meeting β markets are pricing in a 90% probability of a rate increase.
π BitMine bought 27,180 ETH in a week, while Strategy has not bought BTC for the second week in a row and spent $139.3 million on buying back 1.42 million STRC.
π 18 US state attorneys general called on Congress to reject the Clarity Act before a key vote in the Senate.
π Microsoft has set limits for new AI models, while Palantir and Nvidia are restricting the use of AI models from Anthropic and OpenAI due to data privacy concerns.
π SoftBank shares fell by 10% amid rising oil prices and AI safety concerns.
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