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- Tether launches aUSDT, 1st decentralized stablecoin backed by gold (XAUT)
Tether launches aUSDT, 1st decentralized stablecoin backed by gold (XAUT)
Bay Area Times
June 18, 2024
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Top stories today:
- Tether launches aUSDT, 1st decentralized stablecoin backed by gold
- Adobe sued by DOJ over “annual, paid monthly” default, other practices
- Runway announces text-to-video AI Gen-3 Alpha
- Acrobat AI chatbot adds multi-document analysis, image generation
0. Data and calendar
All values as of 1 AM ET / 10 PM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Tether launches aUSDT, 1st decentralized stablecoin backed by gold (XAUT)
Our view: more sustainable than ETH-backed stablecoins, as gold’s price is more stable and its depositors do not expect massive yields.
2. Adobe sued by DOJ over “annual, paid monthly” default, other practices
Adobe “has harmed consumers by enrolling them in its default, most lucrative subscription plan without clearly disclosing important plan terms,” says the DOJ.
Government scrutiny previously halted Adobe’s $20B purchase of Figma. Now, standard SaaS subscription techniques are the target.
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4. Runway announces text-to-video AI Gen-3 Alpha, still less capable than OpenAI’s Sora
10-second videos: what Gen-3 Alpha can do, vs. minutes for Sora.
Both are unreleased and have no release date scheduled.