The TON Foundation distanced itself from initial Golden Visa claims, saying the move is an independent initiative with no official backing from the United Arab Emirates government. The foundation behind The Open Network (TON) has released a statement clarifying its role in a program that could lead to legal residency in the United Arab Emirates (UAE) following conflicting reports over the weekend. In a Monday blog post, the TON Foundation said it was in the “early stages of development” with a licensed partner to explore the creation of a UAE Golden Visa. The group added that any authority for the program rested entirely with the UAE government entities and was subject to applicable laws and regulations. “To clarify, no official Golden Visa program has launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON,” said the foundation. Read more
Despite Ether’s repeated rejection at $2,800, more bullish signs suggest that ETH price is still on its way toward $5,000 in 2025. Key takeaways: Ethereum ETF inflows reflect persistent demand from institutions. ETH supply on exchanges hits eight-year low alongside rising whale accumulation. Read more
CoreWeave acquires Bitcoin mining giant Core Scientific for $9 billion in an all-stock deal, boosting its data center capacity for AI and high-performance computing. AI infrastructure provider CoreWeave (CRWV) has finalized its acquisition of Core Scientific (CORZ), aiming to expand its data center capacity to support artificial intelligence and high-performance computing (HPC) workloads. The deal values Core Scientific at approximately $9 billion through an all-stock transaction. Under the terms of the agreement, existing Core Scientific shareholders will receive 0.1235 shares of newly issued CoreWeave Class A common stock for each CORZ share they hold, CoreWeave announced Monday. “Through this acquisition, CoreWeave will own approximately 1.3 GW of gross power across Core Scientific’s national data center footprint with an incremental 1 GW+ of potential gross power available for expansion,” the announcement said. Read more