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Today’s latest Web3 news and blockchain updates

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Senators Question Meta on Stablecoin Lobbying and Integration

According to BlockBeats, Democratic Senators Elizabeth Warren and Richard Blumenthal have sent a letter to Meta, inquiring about its lobbying efforts related to the GENIUS Act and its potential involvement in stablecoin issuance. The senators also requested details on Meta's efforts to integrate stablecoins into its systems.The letter expressed concerns that if Meta were to control its own stablecoin, the company might further scrutinize consumer transactions and commercial activities. The senators warned that the vast amount of consumer data Meta could acquire might enable the company to implement surveillance pricing strategies, more intrusive targeted advertising, or profit by selling sensitive private information to third-party data brokers.Last month, Fortune magazine reported that Meta is considering the use of stablecoins for payments.
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Telegram's Financial Growth Amid Legal Challenges and Strategic Partnerships

According to PANews, Telegram reported a profit of $540 million in 2024, with revenue reaching $1.4 billion, marking a more than threefold increase from the previous year. Despite founder Pavel Durov facing a formal investigation in France over allegations of failing to manage criminal content on the platform, the company is pursuing the issuance of $1.5 billion in bonds to refinance old debt and potentially prepare for an initial public offering (IPO).Approximately half of Telegram's revenue is derived from 'ecosystem cooperation,' which includes mini-applications based on the TON blockchain and Toncoin payments. Advertising and subscription revenues contributed $250 million and $292 million, respectively. The company aims to achieve $2 billion in revenue and $720 million in profit by 2025.Durov has criticized the French investigation as a 'geopolitical' maneuver. In addition, Telegram has partnered with Elon Musk's AI company, xAI, to integrate its Grok chatbot into the platform.
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Telegram's Pavel Durov Rejects EU Pressure to Censor Political Content

According to Cointelegraph, Telegram founder Pavel Durov has publicly stated that he refused a request from a European Union country to censor political content on the platform ahead of Romania's presidential elections on May 18. Durov, using a baguette emoji to hint at the Western European government involved, revealed that the request aimed to suppress conservative voices, which he declined. In a Telegram post dated May 18, Durov emphasized the importance of free speech and fair elections, asserting that democracy cannot be defended by undermining it. He stated, "You can't 'defend democracy' by destroying democracy. You can’t 'fight election interference' by interfering with elections. You either have freedom of speech and fair elections — or you don’t. And the Romanian people deserve both." Durov is well-regarded in the crypto community for his strong advocacy of free speech, privacy, and individual liberty.Pavel Durov's arrest in France in August 2024 drew significant criticism from the crypto community and free speech advocates, who accused the French government of political motivations. French President Emmanuel Macron denied these allegations, asserting in an August 26 post that the French government remains committed to freedom of expression. Helius Labs CEO Mert Mumtaz responded by questioning the consistency of holding founders personally liable for content moderation while claiming a commitment to free speech. Following Durov's arrest, Chris Pavlovski, CEO of the free speech platform Rumble, announced his departure from the European Union, citing threats from France. Pavlovski criticized the French government, suggesting the arrest was an attempt to coerce Durov into censoring content on Telegram.Durov has maintained that Telegram adheres to lawful requests from law enforcement and has a legal representative in France to handle such matters. He criticized the French authorities for bypassing this representative and opting to issue an arrest warrant instead. The incident has sparked a broader debate about the balance between free speech and regulatory compliance, with many in the tech and crypto sectors closely watching the developments. The situation underscores ongoing tensions between tech platforms and governments over content moderation and freedom of expression.
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CertiK Joins Hong Kong's Key Enterprise Initiative to Boost Web3 Security

According to PANews, CertiK, a leading Web3 security company, has signed an agreement to become a key enterprise partner with the Hong Kong Special Administrative Region Government. The signing ceremony, part of the government's initiative to attract key enterprises, was attended by CertiK's Chief Technology Officer, Dr. Li Kang, alongside representatives from 17 other high-tech companies. The event, witnessed by Financial Secretary Paul Chan, drew over 200 participants, including representatives from key enterprises, local and foreign chambers of commerce, research institutions, universities, financial and professional services companies, and relevant government departments. A total of 18 companies from sectors such as advanced manufacturing, new energy technology, artificial intelligence and data science, fintech, and life health technology joined the initiative. CertiK stands out as the only company focused on Web3 security, leveraging its expertise in blockchain security to contribute to Hong Kong's development as an international innovation and technology hub. Dr. Li Kang highlighted Hong Kong's world-class financial and technological talent and its close international ties. He noted the government's proactive approach in promoting Web3.0, introducing various virtual asset policy frameworks, and implementing a licensing regime for virtual asset service providers (VASP). Institutions like Cyberport are actively providing funding and resources to accelerate the growth of the Web3 ecosystem. CertiK aims to set industry standards for virtual asset compliance audits and contribute to the sector's development, enhancing Hong Kong's global competitiveness. The Office for Attracting Strategic Enterprises (OASES) stated that it will collaborate with other government departments to provide comprehensive services to key enterprises, including CertiK, to expedite their business establishment in Hong Kong and promote sustained growth in the innovation and technology industry. CertiK plans to leverage Hong Kong's strategic location and policy support to deepen collaboration with local research institutions and enterprises, contributing to the diversification of Hong Kong's economy. Founded in 2017 and headquartered in New York, CertiK is dedicated to Web3 security, supporting the long-term development strategy of Web3 enterprises and ecosystems through its full-cycle products and services. The company has rapidly expanded globally, serving over 4,900 enterprise clients and safeguarding digital assets valued at over $530 billion. CertiK has a longstanding relationship with Hong Kong, with its co-founder Professor Ronghui Gu and CTO Dr. Li Kang being members of Hong Kong's Web3 Development Task Force, actively participating in the construction of the Web3 ecosystem. CertiK has also collaborated with Cyberport to launch Web3 security training courses and proposed stablecoin regulatory recommendations adopted by Hong Kong authorities. Becoming a key enterprise partner will further solidify CertiK's strategic position in the Asia-Pacific region and support Hong Kong's innovation in fintech and blockchain.
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