Daily News | Musk Aimed at Integrating Financial World by Renaming Twitter, UK Began Reviewing Worldcoin, Japanese Prime Minister Supported Web3

2023-07-26, 03:53

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## Crypto Daily Digest: Musk responded that Twitter changed its name to integrate the financial world; The UK began reviewing Worldcoin
Musk responded to Twitter's renaming by writing that Twitter was acquired by X Corp not only to ensure freedom of speech but also to promote all of X's applications. This is not just a simple company renaming, but (X Ecosystem) is doing the same thing.

Twitter's name was meaningful when messages with only 140 characters were passed frequently - like birds chirping - but now you can post almost anything, including a few hours of videos.

In the coming months, X will increase its ability to comprehensively communicate and manage users throughout the financial world. The name Twitter has no meaning in this situation, so we must bid farewell to it.

OpenAI co-founder and Worldcoin founder Sam Altman stated on his social media that, like other ambitious projects, Worldcoin may or may not succeed, but trying such things is a way to progress., In addition, Sam Altman stated that he plans to see a combination of Worldcoin and ChatGPT within ten years.

According to Reuters, a spokesperson for the Office of the Information Commissioner, a UK data regulatory agency stated that they have noticed the launch of OpenAI co-founder Sam Altman's Worldcoin project in the UK and will conduct further investigations into it.

Meanwhile, ZachXBT, the "on-chain detective," questioned Worldcoin in a social media article, stating that the project team has been boasting about user numbers. Still, it has been exploiting people in developing countries. In addition, Worldcoin currently seems to only enforce authentication of users' authenticity at the registration level, resulting in a black market for accounts, compared to a fee of only $1 per account on Telegram.

According to Coindesk, WorldCoin has increased the proportion of tokens allocated to internal personnel and investors from 20% to 25%. However, in early project videos, WorldCoin claimed that "WLD would be better than BTC because BTC is only in the hands of a few wealthy people." ZachXBT said that the above problems caused him to oppose the Worldcoin project, but the WLD narrative may change due to token performance. After all, "price rise=good project, price fall=Dystopia nightmare.".

Recently, Japanese Prime Minister Fumio Kishida delivered a video speech at the Tokyo International Forum on the "Next Stage of WebX Digital" hosted by Coinpost, saying that "Web3 is part of a new type of capitalism."

Web3 can potentially change the traditional framework of the Internet and trigger social change, and the government is working to improve the environment for promoting Web3. Prime Minister Kishida strongly hoped that major Japanese enterprises could announce a large-scale project to create a valuable economic zone in the Metaverse space to the world at this conference, and hoped that the Web3 industry would regain attention and vitality, and more new projects would be born.

With the popularity of Telegram bots, some top data platforms have also started to follow suit, and Coinsecko has recently added the Discord Bots token section. It is reported that the Discord Bots token section has included five types of tokens: MEVFREE, COLLAB, TKB, ASAP, and NOLO. The market cap of this section is $9,860,749, with a 24-hour trading volume of over $1 million.

## Today’s Main Token Trends
### BTC
![](https://gimg2.gateimg.com/image/article/1690350270BTC.png)
The current short-term market is still undecided in its direction. There is a possibility of a retracement in the overall upward trend. If adopting a bullish strategy, close attention should be paid to the purple line representing the upward trend. A breach of this trend line could signal the end of this year's rebound. The next support level is $28,535 USD.

### ETH
![](https://gimg2.gateimg.com/image/article/1690350295ETH.png)
The short-term trend has again fallen below the $1,857 USD support level. A bearish strategy should wait for a rebound to $1,857 USD before considering a short position with a target of $1,755 USD. If the medium and long-term structure does not stabilize at $2,037 USD, the overall direction remains bearish.

### UNIBOT
![](https://gimg2.gateimg.com/image/article/1690350314UNIBO.png)
A clear inverted head and shoulders pattern has emerged on the short-term hourly chart, with strong support at $103.03 USD. A breakout position can be considered, with the next potential targets at $213.18 USD, $289.19 USD, and $336.16 USD.

## Macro: Focus on a 25 basis point interest rate hike; The US crypto regulatory bill is progressing smoothly, which is beneficial for the healthy development of the crypto market
The US economic data is still full of contradictions. On the one hand, the Consumer confidence index rose to a two-year high. On the other hand, the manufacturing activity of the Richmond Federal Reserve continued to be depressed in July, and market sentiment became increasingly tense. Although the expectation of raising interest rates by 25 basis points this week has been digested, any subsequent guidance from Powell will ignite the market.

The U.S. Dollar Index fell after 5 days of gains, closing 0.13% lower at 101.27. The US bond yield has risen throughout the market, and the short-term yield has continued to rise more than the long-term yield. The two-year US Treasury yield briefly rose to 4.91% and closed near 4.88%; The 10-year US Treasury yield briefly rose to 3.92% on the day, closing near 3.88%.

Spot gold rose on the eve of the Federal Reserve's heavyweight resolution, regaining the $1,960 mark and closing 0.51% higher at $1,964.74 per ounce. The three major US stock indices collectively closed higher, with the Dow Jones Index up 0.08%, the S&P 500 Index up 0.29%, and the Nasdaq up 0.61%.

At 7 pm (UTC) on Wednesday, the Federal Reserve is about to announce a 25 basis point interest rate hike, which is within the expectations of the entire macro market.

However, the market also has expectations for Powell's speech, and it is widely believed that Powell's speech may become more hawkish, bringing the market back to calm and not to a hot level.

In short, the interest rate hike resolution at 7 pm (UTC) and the speech at 7:30 pm (UTC) are both within traders' expectations.

The United States House of Representatives and Senate reached a bipartisan protocol on the cryptocurrency bill, which is intended to require the cryptocurrency trading platform to register with the Commodity Futures Trading Commission (CFTC) and create a new regulatory framework for <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> and the entire "alternative” (non-traditional) industry.

The protocol has finally come. It can be seen from the protocol that both parties recognize the CFTC platform. In this case, we believe a series of regulatory laws will be issued soon. The United States needs to catch up in the regulatory laws on cryptocurrency, and countries worldwide are issuing regulatory laws, such as South Korea, Japan, and so on. If we wait until the United States finally enacts a bill, we believe that the crypto industry is another world and will iterate and develop more quickly.

<div class="blog-details-info">
<div>Author:**Byron B.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>