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The Hyper Foundation grants approximately 10 million USD to support the USDH exit migration, covering HIP-1, 3, and HyperEVM ecological projects

The Hyper Foundation announced that it will provide approximately $10 million in grants to developers affected by the USDH exit, to cover migration costs and support an orderly transition of the ecosystem. This round of funding will be allocated to affected HIP-1 spot deployers, HIP-3 perpetual contract deployers, HyperEVM protocol, USDH:USDC cross-chain bridge, and other ecosystem participants.Among them, migration grants are aimed at teams migrating USDH-related markets or deployments to USDC; while exit grants are for projects that choose to terminate USDH-related businesses, with amounts lower than equivalent migration plans, to encourage a smooth conclusion of the ecosystem. HIP-1 and HIP-3 grants are based on auction deployment cost estimates, while HyperEVM grants are assessed based on the scale of USDH TVL affected. All beneficiaries must complete migration or business closure by the end of July.On the user side, USDH holders need to operate according to the guidelines of each protocol and can complete the exchange to USDC through the spot market or HyperEVM path. The official has provided support for asset conversion with no fees or spot trading channels. The Hyper Foundation also stated that the USDH migration is progressing smoothly, thanks to the active cooperation of developers and the community, and expressed gratitude to the relevant builders.

Tether launches a developer grant program, focusing on supporting local AI and self-hosted payment infrastructure

According to official news, Tether has launched a developer grant program that will reward developers with USDT or Bitcoin for building localized AI and payment infrastructure. There is no total grant cap for this program, and rewards will be issued based on technical tasks and deliverables, with current individual bonuses ranging from $1,500 to $4,000.This funding focuses on Tether's open-source technology stack, including wallet infrastructure, browser extensions, e-commerce integration, and particularly supports its local AI platform QVAC. Tether stated that QVAC can run AI inference directly on the device locally, without relying on cloud servers, to reduce latency, costs, and data exposure risks.In addition, Tether will also promote the development of its Wallet Development Kit (WDK) ecosystem. This tool allows developers to directly embed self-custody wallets within applications, enabling local key generation, transaction signing, and asset transfers without relying on custodial services or third-party APIs.Tether CEO Paolo Ardoino stated that a significant amount of infrastructure still forces developers to rely on centralized platforms and data business models, and Tether hopes to fund systems that can "run locally, hold value directly, and have no external dependencies" to enter the market.

The State Duma of Russia has passed the digital currency bill on its first reading, granting the central bank control over market access and transaction regulation

The State Duma of Russia (the lower house of parliament) has passed the "Digital Currency and Digital Rights Bill" in the first reading, marking a key step towards the legalization of cryptocurrency assets in the country.According to the bill, the Bank of Russia will become the core regulatory body for the cryptocurrency market, responsible for issuing licenses, approving or prohibiting related transactions, and defining the legality of transactions. The bill proposes to classify cryptocurrencies as "property," but explicitly prohibits their use as a means of payment domestically, with the ruble remaining the only legal tender. However, in the context of Western sanctions, cryptocurrency assets can be used for cross-border trade settlements, including service payments, intellectual property transfers, and other scenarios.In addition, the bill allows Russian residents to legally invest in cryptocurrency assets through licensed institutions, but will implement a tiered investor system, setting testing and annual investment limits for ordinary investors (with a suggested cap of 300,000 rubles). Initially, only high-market-cap mainstream assets like Bitcoin and Ethereum will be allowed for trading, with a whitelist established by the central bank. The bill is expected to be formally passed and come into effect by July 2026 at the latest. However, some lawmakers and banking industry figures have criticized the overly strict regulations, which may affect market activity and even lead to funds remaining in the gray market. At the same time, accompanying legislation is also proposed to introduce criminal penalties, with a maximum sentence of 7 years in prison for illegal cryptocurrency trading.
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