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Top Headlines for 26 September, 2022

Tether Launches on Polkadot

With its latest integration into the Polkadot ecosystem, stablecoin Tether is now supported on 15 different blockchains, announced the parent firm Tether Operations Limited. The firm’s CTO, Paolo Ardoino hailed the development as “another milestone” and noted Tether’s expanding presence in the decentralized ecosystem. The move will give Polkadot users access to the largest stablecoin which, as of September 2022, had a market valuation of $68.24 billion.

Billions of Blockchain Tech Users Predicted

Pantera Capital’s Dan Morehead, CEO of the world’s largest crypto fund, predicted that there will be billions of users of blockchain tech within four to five years. In a September 2022 interview Morehead explained that cryptocurrencies will continue to be a disruptive force. He noted that current low prices are the result of cryptocurrencies getting caught up in the downturn of other risk assets. When the industry loses its close correlation with other markets he foresees significant growth in adoption from its present user base of hundreds of millions users.

“I can see a world a few years from now where risk assets might still be struggling,” Morehead said, “but blockchain will be back to all-time highs based on its own fundamentals.” At the end of 2021 he famously called Terra “one of the most promising coins for the coming year”. By the time of Terra’s catastrophic collapse in May 2022, Pantera had already sold 87% of its holdings for a a return of $171 million on a $1.7 million initial investment.

U.S. Defense Department Evaluates Crypto Threat to National Security

Defense Advanced Research Projects Agency (DARPA), an independent unit of the U.S Department of Defense, has hired blockchain intelligence firm Inca Digital to analyze the potential security threats posed by cryptocurrencies. Inca Digital is tasked with developing tools to help understand the working of crypto markets and to crack down on the illicit use of digital assets that threaten national security. It surveys data across crypto markets, blockchains, news and social media to track and deter transnational organized crime.

The firm is owned and managed by military veterans. It’s CEO Adam Zarazinski worked for both INTERPOL and the U.S. Air Force.

Guatemalan Town Uses Bitcoin Mining to Clean Local Lake

Bitcoin mining is being used to clean Lake Atitlán in Guatemala. The “Kaboom” project repurposes used cooking oil to fuel Bitcoin mining ASICS. The initiative’s founder Patrick Melder explained that “This cooking oil would either be thrown out into the street or find its way to the landfill which sits several hundred feet above Lake Atitlán. Either way, it would find its way into the watershed and into the lake.”

Additionally the project has helped introduce coursework on Bitcoin at the local educational center. There they teach children about the concept of money, inflation and major aspects of Bitcoin, from the basics of mining to setting up a full Bitcoin node. They have also organized Bitcoin-focused educational meetings for adults and business owners, and they strive to include the indigenous community leaders as well.