Silicon Valley's prominent startup incubator, Y Combinator, announced on Tuesday that it will allow its spring cohort of entrepreneurs to receive funding in stablecoins, marking a significant step towards digital currencies going mainstream, according to Fortune. Founders can opt to receive their customary allotment, typically around $500,000, in the Circle-issued USDC.
Y Combinator, whose alumni include the founders of Airbnb and DoorDash, is offering this option on various blockchains such as Ethereum and Solana. Nemil Dalal, a visiting partner at Y Combinator who focuses on crypto, told Fortune that the company may expand to other stablecoins depending on demand. "Stablecoins is one of the key pillars for us," Dalal said.
In other news, the Trump administration's contentious relationship with universities continues, with Harvard University emerging as a particular target, according to Ars Technica. The administration had previously put $2.2 billion in research money on hold and blocked future funding while demanding intrusive control over Harvard's hiring and admissions. Harvard fought back, filing and ultimately winning a lawsuit that restored the cut funds. Despite the victory, the Trump administration continued to push for a formal agreement addressing accusations that Harvard created an environment that allowed antisemitism to flourish. More recently, upset at reports that he'd given up, Trump now wants $1B from Harvard.
Meanwhile, right-wing creators are focusing on California's social welfare programs, making unsubstantiated accusations of fraud, according to Wired. This follows a similar pattern seen in Minnesota, where right-wing influencers boosted fraud allegations that predated a surge of federal immigration agents. Nick Shirley, the right-wing influencer whose viral YouTube video helped fuel the Minnesota situation, is among those targeting California. These efforts are reportedly gaining support from some of President Donald Trump's key allies.
In the realm of technology, the demand for metals like nickel, copper, and rare earth elements is rapidly increasing due to the growth of data centers, electric cars, and renewable energy projects, according to MIT Technology Review. However, producing these metals is becoming more difficult and expensive as miners have already exploited the best resources. Biotechnology could offer a solution, with microbes potentially extracting the metal needed for cleantech. In Michigan's Upper Peninsula, the only active nickel mine in the US, Eagle Mine, is nearing the end of its life as nickel concentration falls too low to warrant digging.
Furthermore, concerns are growing about the potential for AI to erode societal trust. The US Department of Homeland Security is using AI video generators from Google and Adobe to create content shared with the public, according to MIT Technology Review. This news has raised concerns about the use of AI to shape beliefs and potentially dupe the public, even when lies are detected. The tools initially intended to combat this crisis appear to be failing.
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