FameEX Morning Crypto News Recap | July 7, 2023

Expanding Across Three States: Advancing Towards an All-in-One 'Everything App'
Twitter is one step closer to its vision of becoming an all-in-one 'everything app' as it secures money transmitter licenses in Missouri, Michigan, and New Hampshire. With these approvals, Twitter can now function as a payment provider in these states, advancing its goal of obtaining licenses nationwide.

Mawson Infrastructure Group Expands Operations with 2,600 Bitcoin Miners in Pennsylvania
Mawson Infrastructure Group, a publicly-listed bitcoin mining operation, rapidly expands its mining operations by acquiring a new site in Bellefonte, Pennsylvania. The company promptly deploys 2,600 bitcoin miners at the acquired location, further strengthening its presence in the industry.

70% of Bitcoin Supply Remains Untouched for a Year, According to Ark Invest Report
Bitcoin (BTC) garners increased institutional confidence and loyalty from committed holders, per Ark Invest. In June, an all-time high of 70% of the circulating supply remained untouched for a year, signaling strong holding tendencies and reinforcing institutional trust in the cryptocurrency.

$100M+ Outflows from Multichain MPC Bridge Raise Alarm over Possible Exploit
Concerns arise over a potential exploit as withdrawals surpassing 50% of deposited funds are observed in Multichain contracts on Ethereum. Notably, approximately $102 million was withdrawn from Multichain's Fantom bridge on Ethereum, alongside $666,000 from Dogechain and $5 million from Moonriver, prompting vigilance from on-chain analysts.

UAE Solidifies Position as Middle East's Bitcoin Mining Hub
The UAE has become a major Bitcoin mining center in the Middle East, boasting a mining capacity of approximately 400 megawatts, comprising 4% of the global Bitcoin hash rate. Additionally, the nation is actively adopting solar and nuclear energy alternatives to decrease its reliance on natural gas.

UK's Financial Future Hinges on Urgent Tokenization Advancement, Warns Banking Group
UK Finance stresses the need for the UK to bridge the gap in securities tokenization to retain its global financial leadership. The advocacy group urges the British government to actively promote securities tokenization, underlining the significant implications despite the current small market size.

Call for AI Regulatory Oversight: Elon Musk's Urgent Appeal
Elon Musk, during a keynote speech at a Chinese AI conference, stressed the necessity for governments to confront the potential risks associated with advanced AI. He urged greater regulatory oversight, cautioning that AI has the potential to surpass human intelligence in every domain. Musk's persistent push for AI regulation reflects his deep concerns regarding its future impact.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.