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Bitget’s RWA Perpetual Contracts Mark a Pivotal Step in Merging TradFi and DeFi

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Bitget, a leading cryptocurrency exchange, launched the industry’s first Real-World Asset (RWA) Index Perpetual Contract, enabling users to trade tokenized versions of traditional assets like equities.

The initial offerings include Tesla (TSLAUSDT), Nvidia (NVDAUSDT), and Circle (CRCLUSDT), with up to 10x leverage and a 5×24 trading schedule, pausing on weekends and stock market holidays to align with traditional markets.

Each contract is based on a composite index of tokenized stocks from multiple third-party issuers, starting with xStocks, to ensure fair pricing and liquidity. The platform plans to expand RWA offerings and onboard more issuers later this quarter, bridging traditional finance (TradFi) and decentralized finance (DeFi).

Tokenized equities allow DeFi users to gain exposure to traditional assets without needing to interact with centralized stock markets. This creates a seamless integration of traditional and crypto markets, enabling 24/5 trading (outside stock market holidays) with up to 10x leverage, which is not typically available in traditional equity markets.

RWA perpetuals lower barriers for global investors, particularly those in regions with limited access to traditional stock markets. Anyone with a Bitget account can trade these assets, democratizing access to high-value equities like Nvidia or Tesla.

By using a composite index of tokenized stocks from multiple issuers (starting with xStocks), Bitget ensures fair pricing and deeper liquidity. The perpetual contract structure, common in crypto markets, allows traders to hold positions without expiration, unlike traditional futures, offering greater flexibility.

The 10x leverage introduces higher risk, amplifying both gains and losses. While this appeals to speculative traders, it could deter risk-averse investors. Additionally, aligning with stock market hours (pausing on weekends/holidays) reduces some of the 24/7 volatility typical in crypto but may limit trading opportunities.

Tokenized RWAs blur the lines between securities and crypto assets, potentially attracting regulatory scrutiny. Bitget’s move could push regulators to clarify rules around tokenized assets, impacting adoption and innovation. Bitget’s plan to onboard more issuers and expand RWA offerings signals a growing market for tokenized assets, potentially including bonds, real estate, or commodities, further diversifying DeFi portfolios.

Tokenization allows DeFi platforms to offer exposure to assets beyond cryptocurrencies, such as stocks, bonds, or real estate. For example, Bitget’s TSLAUSDT, NVDAUSDT, and CRCLUSDT contracts let users speculate on or hedge against traditional equities without owning the underlying assets.

Tokenized RWAs enable fractional ownership, lowering the capital required to invest in high-value assets. For instance, instead of buying a full Tesla share, users can trade smaller fractions via tokens, making DeFi more inclusive. DeFi platforms operate on permissionless blockchains, allowing users worldwide to access tokenized RWAs without geographic or institutional restrictions.

Tokenized RWAs can be integrated into DeFi protocols (e.g., lending, staking, or yield farming). For example, tokenized equities could be used as collateral in DeFi lending platforms, creating new financial strategies and yield opportunities. DeFi’s decentralized nature supports liquidity pools for tokenized RWAs, enabling peer-to-peer trading and reducing reliance on centralized market makers.

RWAs in DeFi pave the way for novel derivatives, such as perpetual contracts or synthetic assets, that combine traditional asset exposure with crypto-style trading mechanisms (e.g., leverage, shorting). This attracts both retail and institutional investors seeking diversified portfolios.

Tokenized equities may be classified as securities, subjecting them to strict regulations that could limit DeFi platform operations or user access. The reliance on third-party issuers (e.g., xStocks) introduces risks if the issuer fails to maintain asset backing or faces legal issues.

By tokenizing equities, DeFi platforms provide diversified, flexible, and accessible investment opportunities, though regulatory and technical hurdles remain. This innovation could redefine how global markets are accessed, driving broader adoption of DeFi.

Amazon’s AGI Chief on AI Talent Wars: “Only 150 People Can Be Trusted With Frontier Compute”

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Amazon has been investing in India

The head of Amazon’s push to build artificial general intelligence has shared rare insights on how junior staffers can get ahead in AI, at a time when the global talent war has turned into one of the most expensive battles in the tech industry.

Companies like Meta, OpenAI, and Anthropic have spent the summer aggressively jostling for top AI minds, in some cases dangling compensation packages worth tens of millions of dollars. Analysts say this scramble is one of the most expensive hiring sprees in the history of technology, with Meta in particular reportedly offering star researchers deals so lucrative that they rival the pay of athletes. Mark Zuckerberg has framed this as a “make or break” race for Meta’s future, as the company funnels billions into AI research.

David Luan, the executive leading Amazon’s AGI Lab in San Francisco, told The Verge’s Decoder podcast that he would put fewer than 1,000 people worldwide into the “top AI talent bracket” and trust fewer than 150 with what he described as a “giant dollar amount of compute” at a frontier AI lab.

But he stressed that while the elite circle remains small, it is possible for newcomers to break in quickly if they focus on the right problems. Luan said some junior people could climb the ranks within three to four years by asking the right questions, identifying problems “nobody has the answer to,” and becoming recognized experts in those narrow but critical subdomains.

“I find that really counterintuitive, that there’s only very few people who really know what they’re doing,” Luan said, adding: “It’s very easy in terms of number of years to become someone who knows what they’re doing.”

He noted that junior recruits coming from other demanding disciplines, such as quantitative finance or physics, could make “a massive difference” when they join AI companies—provided colleagues with deep experience in training models surround them.

Luan also advised early-career researchers to prioritize joining smaller AI teams where they could try their own ideas, while ensuring the company has a strong “product sense” of how AI fits into people’s lives.

In addition to heading Amazon’s AGI Lab, Luan is also the company’s vice president of autonomy. He joined Amazon in 2024 after it quasi-acquired his startup, Adept, which had been working on AI models designed to help people complete tasks across software platforms. His definition of artificial general intelligence is broad: “a model that can help a human do anything they want to do on a computer.”

The battle for talent, however, underscores the financial strain that AI ambitions are putting on tech giants. For Meta, the cost of attracting researchers has ballooned alongside the billions it is already burning on compute power. Industry insiders suggest that this level of spending is unsustainable without a clear path to profitable products. OpenAI and Anthropic face similar challenges, while Amazon, which entered the AGI race later, is now trying to leverage its financial muscle and cloud infrastructure to catch up.

Some analysts believe the takeaway from Luan’s remarks is twofold: the AI industry’s success is being bottlenecked by human capital as much as by compute, and the sheer cost of recruiting and retaining these rare talents could reshape how quickly companies like Amazon, Meta, and OpenAI can bring AI breakthroughs to the market.

AI Reshaping Africa’s Economy, Nigeria’s Market Size Projected to Reach $1.4B by 2025

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Artificial intelligence (AI) is reshaping economies across the globe, and Africa is increasingly positioning itself to harness its transformative potential.

With opportunities spanning financial inclusion, agriculture, healthcare, and digital innovation, AI promises to narrow wealth gaps, enhance productivity, and drive sustainable economic growth on the continent.

Analysts expect AI to contribute about USD 15.7 trillion to the global economy by 2030, and Africa’s digital adoption gives it a unique chance to claim a significant share of this growth.

One of Africa’s greatest advantages lies in its demographics and resources. The continent is home to 60% of the world’s arable land and one of the youngest populations globally. This combination creates fertile ground for AI-driven solutions to address local needs, with young people emerging as early adopters and frequent users of digital tools.

Nigeria Advances in AI innovation across sectors

Nigeria is quickly becoming a hub for AI innovation. The country attracted $218M VC investments in AI in 2023, with the AI market projected to reach $1.4 billion by 2025. The government’s proactive stance, coupled with private sector engagement, is fueling applications across payments, security, healthcare, agriculture, and travel. 

In financial services, AI adoption is accelerating. By February 2024, 13 Deposit Money Banks in Nigeria had deployed AI-powered chatbots to improve customer support. AI is also being used to detect fraud and provide robo-advisory services for financial planning, now regulated under the Robo Advisory Services Rules introduced in 2023.

In agriculture, tools like Crop2Cash’s FarmAdvice hotline are helping farmers access expert advice in local languages, while startups such as Kitovu use AI-driven advisory platforms to boost yields and cut costs.

South Africa: Strengthening Infrastructure and Research

South Africa has cemented its role as a leading AI research and innovation hub, driven by significant telecom and data infrastructure investments. Between 2019 and 2024, telecom companies invested USD 11.45 billion in fiber optic networks and data centers, laying the groundwork for a vibrant digital economy.

Telecom giants like MTN South Africa are forging strategic partnerships with China Telecom and Huawei to expand 5G, AI, and cloud services. Meanwhile, cloud computing is surging, with Huawei Cloud alone growing more than sixteen-fold since launching a local data center in 2019. South Africa also leads AI research in financial services, with 94 publications surpassing Nigeria and Tunisia.

Kenya: Driving Safe and Inclusive AI

Kenya is emerging as a regional leader in responsible AI adoption. Government-backed strategies and a thriving startup ecosystem are creating new opportunities in agriculture, finance, and energy.

In finance, Kenya’s National AI Strategy 2025 highlights AI’s role in extending access to financial services. The Hustler Fund, launched in 2022, uses AI-powered credit scoring to deliver low-interest loans to small businesses, while firms like M-KOPA offer risk-based lending to underserved customers.

Kenya is also making bold investments in infrastructure. The National Optic Fiber Network Backhaul Initiative (NOFBI) aims to expand connectivity with over 100,000 km of fiber by 2027. At the Global AI Summit on Africa, Cassava Technologies, in partnership with NVIDIA and the Kenyan government, announced a GPU cluster designed to position Kenya as a regional AI hub. In agriculture, tools such as Virtual Agronomist and PlantVillage are providing farmers with tailored insights on soil health, pest detection, and crop management.

Morocco: Advancing AI in North Africa

Morocco is taking a proactive role in AI adoption, particularly in healthcare, energy, agriculture, and finance. Digital transactions are projected to rise to USD 8.47 billion by 2028, reflecting a strong shift toward digitalization. A recent study of Morocco’s largest banks revealed that AI implementation has reduced operational processing times by 30% and boosted revenues by 15% in branches with higher adoption.

Looking Ahead

From Lagos to Johannesburg, Nairobi to Casablanca, Africa’s AI journey reflects a continent ready to embrace transformative technologies. By combining responsible governance, private sector innovation, and strategic investment, Africa is laying the foundation for an AI-powered future that fosters growth, inclusivity, and shared prosperity.

Wormhole’s Bid to Acquire Stargate Finance Could Reshape the Cross-Chain Ecosystem

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The Wormhole Foundation has announced its intent to submit a competing bid to acquire Stargate Finance, challenging LayerZero’s $110 million token-swap proposal.

Wormhole argues that LayerZero’s offer undervalues Stargate, citing its $92 million treasury (including $76 million in stablecoins and $16 million in Ethereum), $345 million in total value locked, and $4 billion in bridge volume in July 2025.

Wormhole has requested a five-day delay in Stargate’s ongoing Snapshot governance vote, set to end on August 24, 2025, to finalize a higher bid and conduct due diligence. This move has sparked market reactions, with Stargate’s STG token rising over 10% to $0.182 and Wormhole’s W token gaining 6.3% to just over 8 cents.

A potential Wormhole-Stargate merger could create a leading cross-chain ecosystem, combining Stargate’s liquidity pools with Wormhole’s integrations across dozens of blockchains. LayerZero’s updated proposal, which includes revenue-sharing for staked STG holders, has gained 89% community support, but Wormhole’s bid could trigger a bidding war, reshaping DeFi governance and interoperability.

A Wormhole-Stargate merger would combine Wormhole’s robust cross-chain messaging protocol, integrated with over 30 blockchains, and Stargate’s liquidity transfer protocol, which supports efficient asset transfers across chains like Ethereum, BNB Chain, and Polygon. This could create a dominant player in cross-chain interoperability.

Wormhole’s bid challenges LayerZero’s $110 million offer, potentially sparking a bidding war. This competition could drive innovation and better terms for Stargate’s community, including higher valuations or enhanced governance rights. However, it also risks fragmenting community consensus, as seen in the 89% support for LayerZero’s proposal.

Acquiring Stargate’s $92 million treasury and $345 million in total value locked would strengthen Wormhole’s financial and operational capacity. This could accelerate development and adoption of cross-chain solutions, positioning the combined entity as a leader in bridging fragmented blockchain ecosystems.

Improvements to the Cross-Chain Ecosystem

Stargate’s liquidity pools, which enable near-instant asset transfers with low fees, combined with Wormhole’s secure messaging protocol, could create a seamless, high-throughput cross-chain transfer system. This would reduce friction for users moving assets between chains, improving DeFi usability.

Wormhole’s integrations with dozens of blockchains, including non-EVM chains like Solana, could expand Stargate’s reach beyond its current seven supported chains. This would enable more diverse cross-chain applications, such as multi-chain DeFi strategies or NFT transfers.

A merged protocol could offer a unified interface for cross-chain transactions, simplifying the user experience. For example, developers and users could leverage a single platform for messaging, asset transfers, and liquidity provision, reducing the complexity of interacting with multiple protocols.

Wormhole’s battle-tested security (post its 2022 exploit recovery) combined with Stargate’s audited bridge contracts could enhance trust in the ecosystem. A unified protocol might also pool resources for stronger security audits and bug bounties, reducing risks of hacks or failures.

Stargate’s $4 billion in monthly bridge volume and Wormhole’s high transaction throughput could scale to meet growing DeFi demand. This would support larger-scale applications, such as cross-chain lending or decentralized exchanges, fostering DeFi adoption.

A successful merger could align incentives for both communities, encouraging collaborative governance and development. This might lead to new features, such as cross-chain staking or revenue-sharing models, similar to LayerZero’s proposed STG holder benefits.

Merging two complex protocols could face technical and operational hurdles, potentially disrupting services if not executed carefully. Differing community priorities could complicate consensus, especially if Wormhole’s bid significantly alters Stargate’s roadmap.

If successful, the merger would likely accelerate DeFi innovation and adoption, but it hinges on community approval and seamless integration. The outcome of the governance vote and potential bidding war will be critical in determining the future of cross-chain DeFi.

Tesla Faces NHTSA Probe Over Crash Reporting as Scrutiny Mounts Over FSD

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Tesla is under federal investigation for failing to report crashes involving its partially autonomous driving technology in a timely manner, intensifying scrutiny on the automaker’s self-driving ambitions.

The National Highway Traffic Safety Administration (NHTSA) said automakers are required to report crashes involving advanced driver-assist features “within one or five days” of an incident. But Tesla was filing reports “several months or more” after crashes occurred. The company told regulators that the delays stemmed from a data collection issue that has since been corrected. Still, NHTSA’s Office of Defects Investigation has opened an audit to verify that Tesla is now complying fully with the rules.

The requirement traces back to a standing general order (SGO) issued in 2021. The mandate compels automakers and robotaxi companies to disclose crashes involving both fully autonomous vehicles and Level 2 driver-assist systems. Under the order, any collision must be reported if an automated driving system was engaged within 30 seconds of impact.

Since the rule came into force, Tesla has disclosed over 2,300 crashes to the federal government. An analysis of the data reveals Tesla accounted for 40 out of 43 fatal crashes reported under the SGO, underscoring its outsized role in accidents tied to semi-autonomous systems.

Tesla’s Autopilot and Full Self-Driving (FSD) features are categorized as Level 2 technology, which requires a driver to remain attentive and ready to take control at all times. By contrast, Alphabet’s Waymo operates Level 4 technology in its robotaxi fleet — vehicles capable of navigating without human intervention.

This contrast has fueled criticism of Tesla’s approach. While Elon Musk has dismissed lidar technology — the backbone of Waymo’s autonomous navigation — as unnecessary and inferior to Tesla’s camera-based system, accident records tell a different story. Waymo’s robotaxis have logged millions of autonomous miles in U.S. cities with a significantly lower crash rate than Tesla’s Level 2 systems, highlighting a growing divide in safety performance.

Despite the controversies, Tesla has been pushing forward with its robotaxi trials in select U.S. states, including California, Nevada, and Texas. Earlier this year, Musk touted Tesla’s “AI-powered robotaxi fleet” as a disruptive leap for urban mobility. However, industry veterans remain unconvinced.

John Krafcik, the former CEO who guided Waymo’s evolution from a Google research lab into a commercial ride-hailing company, cast doubt on Tesla’s much-hyped rollout. Speaking to Business Insider, Krafcik — now a board member at Tesla rival Rivian — dismissed Tesla’s pilot service in the Bay Area as little more than “a rebranded Uber with employees inside the car.”

“Please let me know when Tesla launches a robotaxi — I’m still waiting,” he said. “It’s (rather obviously) not a robotaxi if there’s an employee inside the car.”

Krafcik’s skepticism mirrors concerns among auto analysts and regulators who argue that Tesla’s push for Full Self-Driving is outpacing its technology. Unlike Waymo, which has secured approval to operate fully driverless rides in Phoenix, San Francisco, and Los Angeles, Tesla’s so-called robotaxi still requires safety drivers and faces mounting questions over its readiness for real-world deployment.

NHTSA, meanwhile, has floated changes to the 2021 reporting rules, proposing to scale back some requirements. But for Tesla, the audit signals a broader concern: whether the company is being transparent about the risks tied to its autonomous driving systems as it races ahead in an industry where safety records are becoming as important as innovation.