WAO ART

Cassava Technologies, a Pan-African tech firm, has launched a dedicated business unit for artificial intelligence (AI) operations. The AI unit will provide services including data center management, cloud solutions, cybersecurity, fiber connectivity, and renewable energy.

Australia has flagged over 2,000 compromised cryptocurrency wallets belonging to its citizens during a global operation against scammers. The Australian Federal Police (AFP) is investigating losses identified in "Operation Spincaster," which focuses on approval phishing scams.

Circle will discontinue USDC support on the Flow blockchain effective September 3, 2024, due to the upcoming Crescendo upgrade. Minting of USDC on Flow will continue until August 27, 2024, at 12 pm ET. Users are encouraged to transfer their USDC from Flow to other blockchains before the deadline.

Bitcoin (BTC) dropped 10% today, falling below $54K, amid fears of a U.S. recession and increased sell-offs in the crypto market. The recent downturn has led to an 18% drop from its $70K peak, with Bitcoin currently trading at $52,569 and facing pressure on its support trendline.

Petrobras has confirmed the discovery of deepwater gas in the Uchuva-2 well, located 31 km off Colombia's Caribbean coast at a depth of 804 meters. This discovery extends the previous finding in Uchuva-1, known since 2022, which was at a depth of 830 meters.

European stocks fell sharply, with the Stoxx 600 down 2.17% and Spain's Ibex 35 down 2.34%, amid a global unwind of popular carry trades like Nvidia and Bitcoin. A weaker-than-expected US jobs report has led some economists to call for emergency rate cuts by the Federal Reserve.

The crypto market faced a massive downturn, resulting in $1B in liquidations within 24 hours due to interconnected global financial systems. The Japanese stock market experienced its worst two-day plunge, surpassing Black Monday, with the Nikkei 225 index dropping over 25% and testing critical support levels.