State Nevada Financial News

Death Valley National Park continues to attract visitors despite the ongoing heat wave in the United States. Although most visitors during this time of year only venture a short distance into the park, known as the lowest, hottest, and driest place on Earth, before retreating to the comfort of air-conditioned vehicles, according to reports. Even with temperatures expected to surpass 54.4 degrees Celsius this weekend, there are still individuals willing to brave the extreme heat in pursuit of the park's unique experiences. Hiking trail signs caution against venturing out after 10 am, as nighttime temperatures are predicted to remain above 32.2 degrees Celsius. The hottest temperature ever recorded in Death Valley was 56.6 degrees Celsius in July 1913, according to the park service. Other parks also have established warnings for hikers. Every year, over 1.1 million people visit the Death Valley National Park. The desert park is located across a portion of the California-Nevada border to the west of Las Vegas. Death Valley National Park, which spans over 13,848 square kilometers, is the largest national park in the lower 48 states excluding Alaska and Hawaii. Approximately one-fifth of the park's visitors arrive during June, July, and August. Many are enticed to explore the park, even beyond the recommended cutoff times. Engaging in physical activities under such extreme heat can make the conditions even more unbearable, leaving people feeling exhausted. Even after sunset, the sunbaked rocks, sand, and soil continue to radiate heat.

Decentralized wireless network operator World Mobile has secured licensed spectrum in four US states. 

The NCAA has found 175 infractions of its sports-betting policy since 2018, and there are 17 active investigations

Elon Musk now has his eyes set on artificial intelligence (XAI) On Wednesday, Musk announced the launch of a new company, xAI, in an attempt to “understand the true nature of the universe”.https://twitter.com/elonmusk/status/1679164661869182976?s=20 Musk’s entry into the AI space comes when the entire field of study is undergoing a paradigm shift following the launch of OpenAI’s generative AI chatbot ChatGPT last November. ETtech answers some key questions about Musk’s latest ventureWhat is xAI? As the name suggests, xAI is an AI company whose goal — according to the company’s website — is to understand the true nature of the universe.

Elon Musk's xAI on Wednesday announced the formation of the artificial intelligence (AI) startup with the launch of its website, unveiling a team made up of engineers who have worked at companies from Alphabet-owned Google to Microsoft and OpenAI. The startup will be led by Musk, the CEO of Tesla and owner of Twitter, who has said on several occasions that the development of AI should be paused and that the sector needs regulation.

Elon Musk, has joined forces with two prominent UFC champions. According to TMZ, Mark Zuckerberg has dedicated the past few days to intense training sessions alongside two UFC champions: Israel Adesanya, the middleweight champion, and Alexander Volkanovski, the featherweight champion. Following Saturday night's UFC 290 showcase in Las Vegas, both fighters immediately traveled to Zuckerberg's residence in Northern California to assist him in his preparations.

This week in crypto, we had FTX: it was having initial talks with investors on bringing back the FTX.com exchange through structures such as a joint venture, the new FTX leadership team recouped approximately $7 billion in liquid assets, the exchange put a pause on the sale of its stake in the AI startup Anthropic, it was revealed that Sam Bankman-Fried had shot a tutorial video on cryptocurrency for MasterClass, and Sequoia Partner Alfred Lin claimed that the FTX investment was a correct decision at the time.

Crypto custodian Prime Trust is facing imminent closure as Nevada regulators move to shut down the troubled company, potentially making it the latest victim of the crypto bear market.

Following the filing of a cease and desist order, Nevada’s Financial Institutions Division has again moved against crypto custodian Prime Trust by petitioning for the appointment of a receiver.

Following TrustToken’s decision to temporarily halt mints and redemptions of its TrueUSD (TUSD) stablecoin through its banking partner, Prime Trust, a trader has taken advantage of the situation by initiating an on-chain short position.

Prime Trust's financial condition is "critically deficient" and the crypto custodian is unable to honor customer withdrawals according to a cease and desist from Nevada's business regulator.

On June 22,  TrueUSD announced on Twitter that its TUSD stablecoin had “no exposure” to the troubled Prime Trust, which is reportedly facing regulatory challenges. 

On June 22, wallet infrastructure provider and digital asset custodian BitGo announced on Twitter that it had decided to cancel its acquisition of fintech infrastructure provider Prime Trust. According to BitGo, “This decision was not made lightly.” The full announcement read:

The Elon Musk vs Mark Zuckerberg fight being confirmed has predictably led to several new crypto coins trending on DEXTools, alongside going viral across social media platforms and inspiring hundreds of new internet memes.

The payments subsidiary of crypto custodian Prime Trust, Banq, filed for bankruptcy protection in the United States on June 13, court documents show..

Stablecoin TruedUSD (TUSD) slightly lost its dollar peg in the early hours of June 10, following a pause in minting activities through its technology partner Prime Trust. 

Wallet infrastructure provider and digital asset custodian BitGo have signed a non-binding letter of intent to acquire fintech infrastructure provider Prime Trust, according to an announcement on June 8. 

The US Department of Justice (DOJ) has charged a Nevada man for his role in the multi-million-dollar CoinDeal investment scheme.

Elon Musk's new AI venture, X.AI, sparks a frenzy of fake crypto coins. Don't fall for the scams – we reveal five legitimate AI projects worth investing in.

Amid the growing discussions around Donald Trump, guns and other topics tied to politics and entertainment, Bitcoin (BTC) remains the most Googled term in the United States. 

Crypto could save Americans billions of dollars in costs related to remittance payments to places like Asia and Latin America, data compiled by Coinbase shows.