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Philippines adopts Tether’s USDT for social security payments

Tether (USDT), a prominent stablecoin in the cryptocurrency market, is set to streamline social security payments in the Philippines, according to recent reports.

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Tether (USDT), a prominent stablecoin in the cryptocurrency market, is set to streamline social security payments in the Philippines, according to recent reports.

The initiative aims to leverage Tether’s stable value and blockchain technology to enhance the efficiency and transparency of disbursing social security benefits to recipients across the Philippines. This partnership marks a significant step towards integrating digital currencies into the country’s financial infrastructure, potentially revolutionizing how government welfare programs are administered.

By utilizing Tether (USDT), the Philippines’ social security agency seeks to reduce transaction costs, minimize delays, and ensure secure and timely distribution of funds to beneficiaries. The stablecoin’s peg to the US dollar provides stability, mitigating the volatility risks associated with traditional cryptocurrencies.

The collaboration underscores the growing acceptance of digital assets as viable tools for financial inclusion and efficiency improvements in developing economies. Tether’s integration into social security payments signals a broader trend towards adopting blockchain-based solutions to address inefficiencies in traditional financial systems.

As the pilot program unfolds, stakeholders within the cryptocurrency and financial sectors will closely monitor its implementation and impact on enhancing welfare distribution mechanisms in the Philippines. The initiative represents a forward-looking approach by government agencies to harness digital innovations for public service delivery, paving the way for potential expansions in utilizing blockchain technology for other governmental and financial services.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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