Binance Square
LIVE
CryptoNews
@CryptoNews_official
crypto.news is a leading publication media resource in the cryptocurrency industry and, as such, holds editorial independence and journalistic integrity.
Following
Followers
Liked
Shared
All Content
LIVE
--
Unlike the US, Hong Kong Considering Staking in Spot Ethereum ETFsHong Kong is reportedly considering including an Ethereum staking option for the spot Ethereum exchange-traded fund (ETF) issuers. If Hong Kong’s Securities and Futures Commission (SFC) allows staking, investors in local Ethereum (ETH) ETFs could generate passive income by staking tokens on the Ethereum network to validate transactions.  Staking is a process where token holders lock their crypto tokens for a specific period, earning rewards as a percentage of the staked tokens as a reward. This process is facilitated by various third-party staking services that cater to user needs. Essentially, staking is a way of earning rewards – extra money – while holding onto specific cryptocurrencies. This move by Hong Kong contrasts with the United States Security and Exchange Commission’s (SEC) perception of staking, which sees it as an investment contract and a violation of securities laws. A global adaption of spot ETF staking could spur ongoing discussions about the practice in the United States. Staking’s role in the U.S. Coinbase has been advocating for staking in the US and has been battling the SEC over the practice’s legality. Coinbase believes that core staking is not a security, as it does not involve an investment of money, and the opportunity cost of staking is not an investment. Because users’ rewards are compensation for services delivered, Coinbase believes that staking does not fulfill an “expectation of profit” and consists of ministerial maintenance rather than conventional investing efforts. In February, crypto.news reported that 55% of crypto investors in Singapore had staked crypto through a centralized exchange, signaling a strong optimism towards staking. Staking is popular in other global crypto hotspots.  On Wednesday, the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21), essentially communicating with the crypto industry that the US is welcome to crypto. Furthermore, the SEC approved spot Ethereum ETFs, causing the price of Ethereum (ETH) to increase to over $3900 at the time of writing.  However, due to the SEC’s stance on staking, many US-based companies, like Fidelity Investments, haven’t made plans to stake in their upcoming Ethereum ETFs. 

Unlike the US, Hong Kong Considering Staking in Spot Ethereum ETFs

Hong Kong is reportedly considering including an Ethereum staking option for the spot Ethereum exchange-traded fund (ETF) issuers.

If Hong Kong’s Securities and Futures Commission (SFC) allows staking, investors in local Ethereum (ETH) ETFs could generate passive income by staking tokens on the Ethereum network to validate transactions. 

Staking is a process where token holders lock their crypto tokens for a specific period, earning rewards as a percentage of the staked tokens as a reward. This process is facilitated by various third-party staking services that cater to user needs. Essentially, staking is a way of earning rewards – extra money – while holding onto specific cryptocurrencies.

This move by Hong Kong contrasts with the United States Security and Exchange Commission’s (SEC) perception of staking, which sees it as an investment contract and a violation of securities laws. A global adaption of spot ETF staking could spur ongoing discussions about the practice in the United States.

Staking’s role in the U.S.

Coinbase has been advocating for staking in the US and has been battling the SEC over the practice’s legality. Coinbase believes that core staking is not a security, as it does not involve an investment of money, and the opportunity cost of staking is not an investment.

Because users’ rewards are compensation for services delivered, Coinbase believes that staking does not fulfill an “expectation of profit” and consists of ministerial maintenance rather than conventional investing efforts.

In February, crypto.news reported that 55% of crypto investors in Singapore had staked crypto through a centralized exchange, signaling a strong optimism towards staking. Staking is popular in other global crypto hotspots. 

On Wednesday, the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21), essentially communicating with the crypto industry that the US is welcome to crypto. Furthermore, the SEC approved spot Ethereum ETFs, causing the price of Ethereum (ETH) to increase to over $3900 at the time of writing. 

However, due to the SEC’s stance on staking, many US-based companies, like Fidelity Investments, haven’t made plans to stake in their upcoming Ethereum ETFs. 
Telegram Mini Apps Sling TON TVL Over $300m Telegram’s endorsement of blockchain development has incentivized a migration to The Open Network (TON), bolstering user participation and nearly doubling on-chain TVL in two months. According to DefiLlama, users have deposited over $319 million into the Telegram-backed decentralized network known as The Open Network (TON). Activity began skyrocketing in late February, and total value locked (TVL) has nearly doubled since early April. TON’s ecosystem has witnessed an expansion spree in recent months as Telegram enabled more crypto-related offerings. Analytics show a variety of on-chain protocols building atop the Telegram-affiliated chain, including derivatives projects, exchanges, lending platforms, liquid staking providers, gaming initiatives, and privacy solutions to name a few.  TON TVL | Source: DefiLlama You might also like: Pavel Durov reveals new Telegram blockchain features Telegram driving TON boom A major driving force behind TON’s growth seems linked to the rise of so-called “mini-apps” employed by a slew of web3 games developed directly on the messenger.  Telegram allows these mini-apps to build web3 products using TON’s open-source software development kit, with access to the social network’s 900 million users and a dearth of monetized advertising corridors. The company’s founder and CEO Pavel Durov has publicly supported TON’s integration, encouraging more builders to leverage the offering and connect with the crypto community. Projects like Hamster Kombat and Notcoin (NOT) have deployed their respective blockchain games directly on TON, and the messenger by extension.  Both projects have recorded successes with this path. Notcoin distributed millions to users in an airdrop and Hamster Kombat onboarded over 19 million daily active users in less than three months.  Telegram’s support for the largest stablecoin Tether (USDT) and an inbuilt Wallet app has also encouraged developers and users alike to participate in TON. Durov’s company has made sending crypto as simple as a few clicks, positioning the platform as a crypto powerhouse and a hub for blockchain activity.  2/ In just 1 month:– 316M $USDt in circulation– 160M $USDt in use on TON appsPeople will look back on this moment. As the moment when mass adoption of freedom tech truly began.Start using USDt-TON! ⬇️https://t.co/Jq9zeesY9g — TON 💎 (@ton_blockchain) May 27, 2024 Read more: Ton blockchain: X policies to drive Telegram adoption

Telegram Mini Apps Sling TON TVL Over $300m 

Telegram’s endorsement of blockchain development has incentivized a migration to The Open Network (TON), bolstering user participation and nearly doubling on-chain TVL in two months.

According to DefiLlama, users have deposited over $319 million into the Telegram-backed decentralized network known as The Open Network (TON). Activity began skyrocketing in late February, and total value locked (TVL) has nearly doubled since early April.

TON’s ecosystem has witnessed an expansion spree in recent months as Telegram enabled more crypto-related offerings.

Analytics show a variety of on-chain protocols building atop the Telegram-affiliated chain, including derivatives projects, exchanges, lending platforms, liquid staking providers, gaming initiatives, and privacy solutions to name a few. 

TON TVL | Source: DefiLlama

You might also like: Pavel Durov reveals new Telegram blockchain features

Telegram driving TON boom

A major driving force behind TON’s growth seems linked to the rise of so-called “mini-apps” employed by a slew of web3 games developed directly on the messenger. 

Telegram allows these mini-apps to build web3 products using TON’s open-source software development kit, with access to the social network’s 900 million users and a dearth of monetized advertising corridors.

The company’s founder and CEO Pavel Durov has publicly supported TON’s integration, encouraging more builders to leverage the offering and connect with the crypto community. Projects like Hamster Kombat and Notcoin (NOT) have deployed their respective blockchain games directly on TON, and the messenger by extension. 

Both projects have recorded successes with this path. Notcoin distributed millions to users in an airdrop and Hamster Kombat onboarded over 19 million daily active users in less than three months. 

Telegram’s support for the largest stablecoin Tether (USDT) and an inbuilt Wallet app has also encouraged developers and users alike to participate in TON. Durov’s company has made sending crypto as simple as a few clicks, positioning the platform as a crypto powerhouse and a hub for blockchain activity. 

2/ In just 1 month:– 316M $USDt in circulation– 160M $USDt in use on TON appsPeople will look back on this moment. As the moment when mass adoption of freedom tech truly began.Start using USDt-TON! ⬇️https://t.co/Jq9zeesY9g

— TON 💎 (@ton_blockchain) May 27, 2024

Read more: Ton blockchain: X policies to drive Telegram adoption
Zenit World’s Revamped Platform Introduces New FeaturesDisclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Zenit World’s revamped platform introduces new features to enhance the user experience for both seasoned and new crypto enthusiasts. Navigating the world of cryptocurrency can be complex. Acquiring digital assets can be challenging, and there are few user-friendly platforms for participation. Newcomers often face hurdles like navigating complex exchanges, setting up wallets, and incurring transfer fees. This can be intimidating and discourage traders from entering the crypto market. Zenit World is launching a completely revamped platform imminently, aiming to enrich the user experience for both seasoned crypto enthusiasts and newcomers alike. This update introduces a suite of interesting features designed to streamline processes, make crypto transactions more accessible, and empower users to confidently explore the exciting potential of digital assets. You might also like: Zenit World 2023 roadmap: advancing security, accessibility, and innovation in crypto trading 1. Institutional-grade power with OTC trading Zenit World caters to institutions of all sizes with the introduction of OTC trading powered by MT5 integration. This feature offers a robust and secure environment for large-scale crypto transactions, complete with: Tailored solutions: Zenit World understands that every institution has unique needs. Their customized OTC services ensure a perfect fit for any organization. Effortless entry: Entering the crypto market is made effortless with Zenit World’s automated and efficient infrastructure. Seamless large order support: Trading major cryptocurrencies like Bitcoin, Ethereum, and Litecoin against fiat currencies is straightforward with Zenit World, which is equipped to handle substantial institutional orders. Customizable trading experience: Users can leverage Zenit World’s versatile APIs to create bespoke trading desks. This allows them to tailor the trading experience to their specific strategies. Informed decision-making: Zenit World equips users with comprehensive market analysis reports, offering valuable insights into market trends and performance, so that they make strategic decisions with confidence.  2. The Zenit World Ambassador Program Zenit World’s Ambassador Program invites passionate crypto enthusiasts to join a vibrant community and play a key role in shaping the platform’s future. Here’s how participants can contribute: Organize crypto events: Spark conversations and spread awareness by organizing crypto-related events in the local area. Break down language barriers: Assist Zenit World in translating content to reach a wider global audience. Lead local communities: Foster a collaborative space for crypto enthusiasts by building and leading local crypto communities. Spread the word: Leverage their influence to promote Zenit World on social media or other platforms. Becoming a Zenit World Ambassador comes with several benefits: Program participation: Ambassadors gain access to specialized Zenit World initiatives, offering insights into the platform’s operations and potential influence on its future development. Trading education: Zenit World’s core team provides advanced trading education to Ambassadors. Exclusive merchandise: Ambassadors receive exclusive Zenit World merchandise. Early access features: Ambassadors gain early access to new features and functionalities rolled out on the Zenit World platform. Regional event participation: Ambassadors can participate in and contribute to offline events hosted in their region, offering networking opportunities with other crypto enthusiasts and industry leaders. You might also like: The role of Zenit World in the CeDeFi future of crypto 3. The Zenit World Launchpad The Zenit World Launchpad is here to help crypto enthusiasts with groundbreaking blockchain or crypto ideas. This initiative provides the resources and support needed to transform a vision into reality. Here’s what sets the Launchpad apart: Global collaboration ecosystem: Zenit World fosters a collaborative ecosystem that connects entrepreneurs, traders, and industry leaders. This fosters an environment where ideas flourish and innovation thrives. Empowering startups and scale-ups: Zenit World’s Launchpad aims to support over 100 startups, creating new jobs and attracting businesses. This initiative fuels the entrepreneurial spirit and drives growth within the blockchain and crypto space. The updated Zenit World platform offers a wealth of features designed to empower users, foster collaboration, and unlock new possibilities in the world of cryptocurrency. Stay tuned for the official launch. About Zenit World Zenit World empowers crypto traders across the world with a combination of great UX, advanced tools, and a supportive community. From beginners taking their first steps to experienced traders seeking advanced strategies. It provides the tools and resources needed to navigate the exciting world of cryptocurrency with confidence and success. Follow Zenit World on social media to stay up-to-date on the latest news and trends in the industry. Twitter | Facebook| LinkedIn | Youtube | Blog | Telegram | Reddit | Linktree Disclaimer: This article is intended for informational purposes only and should not be interpreted as investment advice or recommendations. Engaging in cryptocurrency purchasing or trading inherently involves risks, such as market fluctuations, potential market manipulation, and cybersecurity threats. Users should not invest in Virtual assets, or other investment products relying solely on the content provided, but should seek additional information from different sources and, before making any decisions, users are advised to perform comprehensive research to ascertain the credibility and authenticity of individual cryptocurrencies and their underlying platforms. Zenit World bears no liability for investment decisions based on this article. Read more: Zenit World announces mobile app and launchpad for ventures Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Zenit World’s Revamped Platform Introduces New Features

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Zenit World’s revamped platform introduces new features to enhance the user experience for both seasoned and new crypto enthusiasts.

Navigating the world of cryptocurrency can be complex. Acquiring digital assets can be challenging, and there are few user-friendly platforms for participation. Newcomers often face hurdles like navigating complex exchanges, setting up wallets, and incurring transfer fees. This can be intimidating and discourage traders from entering the crypto market.

Zenit World is launching a completely revamped platform imminently, aiming to enrich the user experience for both seasoned crypto enthusiasts and newcomers alike. This update introduces a suite of interesting features designed to streamline processes, make crypto transactions more accessible, and empower users to confidently explore the exciting potential of digital assets.

You might also like: Zenit World 2023 roadmap: advancing security, accessibility, and innovation in crypto trading

1. Institutional-grade power with OTC trading

Zenit World caters to institutions of all sizes with the introduction of OTC trading powered by MT5 integration. This feature offers a robust and secure environment for large-scale crypto transactions, complete with:

Tailored solutions: Zenit World understands that every institution has unique needs. Their customized OTC services ensure a perfect fit for any organization.

Effortless entry: Entering the crypto market is made effortless with Zenit World’s automated and efficient infrastructure.

Seamless large order support: Trading major cryptocurrencies like Bitcoin, Ethereum, and Litecoin against fiat currencies is straightforward with Zenit World, which is equipped to handle substantial institutional orders.

Customizable trading experience: Users can leverage Zenit World’s versatile APIs to create bespoke trading desks. This allows them to tailor the trading experience to their specific strategies.

Informed decision-making: Zenit World equips users with comprehensive market analysis reports, offering valuable insights into market trends and performance, so that they make strategic decisions with confidence. 

2. The Zenit World Ambassador Program

Zenit World’s Ambassador Program invites passionate crypto enthusiasts to join a vibrant community and play a key role in shaping the platform’s future. Here’s how participants can contribute:

Organize crypto events: Spark conversations and spread awareness by organizing crypto-related events in the local area.

Break down language barriers: Assist Zenit World in translating content to reach a wider global audience.

Lead local communities: Foster a collaborative space for crypto enthusiasts by building and leading local crypto communities.

Spread the word: Leverage their influence to promote Zenit World on social media or other platforms.

Becoming a Zenit World Ambassador comes with several benefits:

Program participation: Ambassadors gain access to specialized Zenit World initiatives, offering insights into the platform’s operations and potential influence on its future development.

Trading education: Zenit World’s core team provides advanced trading education to Ambassadors.

Exclusive merchandise: Ambassadors receive exclusive Zenit World merchandise.

Early access features: Ambassadors gain early access to new features and functionalities rolled out on the Zenit World platform.

Regional event participation: Ambassadors can participate in and contribute to offline events hosted in their region, offering networking opportunities with other crypto enthusiasts and industry leaders.

You might also like: The role of Zenit World in the CeDeFi future of crypto

3. The Zenit World Launchpad

The Zenit World Launchpad is here to help crypto enthusiasts with groundbreaking blockchain or crypto ideas. This initiative provides the resources and support needed to transform a vision into reality. Here’s what sets the Launchpad apart:

Global collaboration ecosystem: Zenit World fosters a collaborative ecosystem that connects entrepreneurs, traders, and industry leaders. This fosters an environment where ideas flourish and innovation thrives.

Empowering startups and scale-ups: Zenit World’s Launchpad aims to support over 100 startups, creating new jobs and attracting businesses. This initiative fuels the entrepreneurial spirit and drives growth within the blockchain and crypto space.

The updated Zenit World platform offers a wealth of features designed to empower users, foster collaboration, and unlock new possibilities in the world of cryptocurrency. Stay tuned for the official launch.

About Zenit World

Zenit World empowers crypto traders across the world with a combination of great UX, advanced tools, and a supportive community. From beginners taking their first steps to experienced traders seeking advanced strategies. It provides the tools and resources needed to navigate the exciting world of cryptocurrency with confidence and success.

Follow Zenit World on social media to stay up-to-date on the latest news and trends in the industry.

Twitter | Facebook| LinkedIn | Youtube | Blog | Telegram | Reddit | Linktree

Disclaimer: This article is intended for informational purposes only and should not be interpreted as investment advice or recommendations. Engaging in cryptocurrency purchasing or trading inherently involves risks, such as market fluctuations, potential market manipulation, and cybersecurity threats. Users should not invest in Virtual assets, or other investment products relying solely on the content provided, but should seek additional information from different sources and, before making any decisions, users are advised to perform comprehensive research to ascertain the credibility and authenticity of individual cryptocurrencies and their underlying platforms. Zenit World bears no liability for investment decisions based on this article.

Read more: Zenit World announces mobile app and launchpad for ventures

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
PEPE Soars As Dogeverse Presale Nears End After Raising $15mDisclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. After raising over $15 million in its presale, Dogeverse is just one week away from its initial exchange offering (IEO). Dogeverse is just one week from its initial exchange offering (IEO) after being able to raise $15 million in its presale. While excitement is ramping up in preparation for its IEO, several factors could make Dogeverse one of the biggest new memecoins of 2024. Pepe booms as Dogeverse’s umbrella catches many narratives Since the United States Securities and Exchange Commission approved Ethereum spot ETFs on 23 May, Pepe has enjoyed outsized growth and is trading at an 80% weekly premium. This makes it the leading benefactor of ETH ETFs, reflecting the significance of memecoins in the current market cycle. 🎯 $PEPE it was https://t.co/FjeFMaQHyH pic.twitter.com/CwDkoJQTWr — HORSE (@TheFlowHorse) May 20, 2024 Other Ethereum memecoins have also benefited from the ETF approvals, with Floki up 33% this week. But the forward-looking crypto market is quickly turning to the next potential narrative and that is Solana ETFs. Analyst Symbiote highlighted this and speculated that Solana ecosystem tokens will resultantly soar. CNBC: $SOL ETF is coming in the 2024 crypto cycle!After such news, the alts on $SOL will soon go parabolicBuying the right tokens = making $100k from $1kHere are 10 bets on $SOL with the highest growth potential🧵👇 pic.twitter.com/2Iel8whexn — symbiote (@cryptosymbiiote) May 23, 2024 However, the newly launched Dogeverse stands to benefit no matter which blockchain takes the limelight. That’s because Dogeverse is a multichain meme coin, launching on Ethereum, Solana, Base, BSC, Polygon, and Avalanche. This multichain approach also lays the foundations for a strong on-chain memecoin community and opens the project to investment potential. In this regard, Dogeverse is proving to be one of 2024’s hottest presales. But in a bid for long-term potential, the team has introduced new measures, such as a staking layer. Generous staking rewards to drive up demand Dogeverse staking is already live and currently offers a 48% APY. However, this is expected to decrease as more tokens are staked, incentivizing early buyers. The staking mechanism intends to drive up demand while encouraging long-term holding, thus minimizing sell pressure. Through these dynamics, Dogeverse could enjoy added price stability over other memecoins, and this will only be amplified by its versatile multichain approach. Prominent industry figures have noted this and backed the project for growth post-IEO. Leading analysts are bullish and speculate 10x returns  In a recent YouTube video, prominent low-cap trader Jacob Bury speculated that Dogeverse could see 10x gains following its exchange launch. Bury was an early backer of projects like Smog and Sponge, which each soared 100x, so his support for Dogeverse could hold weight. Meanwhile, ClayBro noted that there are just seven days until the Dogeverse presale ends and provided bullish expectations on where it could be headed after launching. Interest in the project has also reached mainstream crypto media outlets, with Cointelegraph, The Tech Report, and Crypto Potato covering it. However, with the presale ending in one week, time is running out to secure the current fixed and discounted ICO price. Follow Dogeverse on X or join its Telegram for the latest news. Alternatively, visit its website to buy and stake tokens. To learn more, visit the Dogeverse presale. Read more: Memecoin Dogeverse nears exchange listing after raising $15m in presale Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

PEPE Soars As Dogeverse Presale Nears End After Raising $15m

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

After raising over $15 million in its presale, Dogeverse is just one week away from its initial exchange offering (IEO).

Dogeverse is just one week from its initial exchange offering (IEO) after being able to raise $15 million in its presale. While excitement is ramping up in preparation for its IEO, several factors could make Dogeverse one of the biggest new memecoins of 2024.

Pepe booms as Dogeverse’s umbrella catches many narratives

Since the United States Securities and Exchange Commission approved Ethereum spot ETFs on 23 May, Pepe has enjoyed outsized growth and is trading at an 80% weekly premium.

This makes it the leading benefactor of ETH ETFs, reflecting the significance of memecoins in the current market cycle.

🎯 $PEPE it was https://t.co/FjeFMaQHyH pic.twitter.com/CwDkoJQTWr

— HORSE (@TheFlowHorse) May 20, 2024

Other Ethereum memecoins have also benefited from the ETF approvals, with Floki up 33% this week. But the forward-looking crypto market is quickly turning to the next potential narrative and that is Solana ETFs.

Analyst Symbiote highlighted this and speculated that Solana ecosystem tokens will resultantly soar.

CNBC: $SOL ETF is coming in the 2024 crypto cycle!After such news, the alts on $SOL will soon go parabolicBuying the right tokens = making $100k from $1kHere are 10 bets on $SOL with the highest growth potential🧵👇 pic.twitter.com/2Iel8whexn

— symbiote (@cryptosymbiiote) May 23, 2024

However, the newly launched Dogeverse stands to benefit no matter which blockchain takes the limelight. That’s because Dogeverse is a multichain meme coin, launching on Ethereum, Solana, Base, BSC, Polygon, and Avalanche.

This multichain approach also lays the foundations for a strong on-chain memecoin community and opens the project to investment potential.

In this regard, Dogeverse is proving to be one of 2024’s hottest presales. But in a bid for long-term potential, the team has introduced new measures, such as a staking layer.

Generous staking rewards to drive up demand

Dogeverse staking is already live and currently offers a 48% APY. However, this is expected to decrease as more tokens are staked, incentivizing early buyers. The staking mechanism intends to drive up demand while encouraging long-term holding, thus minimizing sell pressure.

Through these dynamics, Dogeverse could enjoy added price stability over other memecoins, and this will only be amplified by its versatile multichain approach. Prominent industry figures have noted this and backed the project for growth post-IEO.

Leading analysts are bullish and speculate 10x returns 

In a recent YouTube video, prominent low-cap trader Jacob Bury speculated that Dogeverse could see 10x gains following its exchange launch.

Bury was an early backer of projects like Smog and Sponge, which each soared 100x, so his support for Dogeverse could hold weight.

Meanwhile, ClayBro noted that there are just seven days until the Dogeverse presale ends and provided bullish expectations on where it could be headed after launching.

Interest in the project has also reached mainstream crypto media outlets, with Cointelegraph, The Tech Report, and Crypto Potato covering it.

However, with the presale ending in one week, time is running out to secure the current fixed and discounted ICO price. Follow Dogeverse on X or join its Telegram for the latest news. Alternatively, visit its website to buy and stake tokens. To learn more, visit the Dogeverse presale.

Read more: Memecoin Dogeverse nears exchange listing after raising $15m in presale

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
South Korea’s Ministry of Justice Forms Task Force to Damper Crypto CrimesSouth Korea’s Ministry of Justice has launched a special task force to combat the increasing prevalence of crypto crimes, signaling a major crackdown on fraud and market manipulation. South Korea is intensifying efforts to clamp down on market manipulation and fraud in the cryptocurrency industry by establishing a special task force in collaboration with local regulatory bodies. According to a regulatory document, the task force under the Ministry of Justice targets plans to target cases of price manipulation, unregistered crypto exchanges, and deposit fraud, which have increasingly affected citizens. The document reveals that illicit activity involving crypto in South Korea has already surpassed $1.6 billion this year. The task force aims to dismantle schemes promising high returns on crypto investments. In addition, the Ministry is preparing to enforce the Virtual Asset User Protection Act, set to be implemented in July, to ensure the protection of assets held by crypto users. You might also like: Bitcoin ETFs under review by South Korean regulators, FSS governor shares insights The latest initiative underscores South Korea’s commitment to fostering a transparent environment for crypto trading, even though the country lags behind other regions in crypto adoption. As crypto.news reported earlier, South Korean financial regulators face mounting pressure to approve exchange-traded funds (ETFs) for cryptocurrencies, following the U.S. Securities and Exchange Commission’s recent approval of spot Ethereum ETFs. Jung Eui-jung, head of the Korean Stockholders’ Alliance, has emphasized the importance of following the U.S. example by endorsing Bitcoin and Ethereum ETFs, reflecting broader frustration with Seoul’s cautious approach to cryptocurrency regulation. Read more: Korean tax service mulling new platform to monitor all crypto transactions

South Korea’s Ministry of Justice Forms Task Force to Damper Crypto Crimes

South Korea’s Ministry of Justice has launched a special task force to combat the increasing prevalence of crypto crimes, signaling a major crackdown on fraud and market manipulation.

South Korea is intensifying efforts to clamp down on market manipulation and fraud in the cryptocurrency industry by establishing a special task force in collaboration with local regulatory bodies. According to a regulatory document, the task force under the Ministry of Justice targets plans to target cases of price manipulation, unregistered crypto exchanges, and deposit fraud, which have increasingly affected citizens.

The document reveals that illicit activity involving crypto in South Korea has already surpassed $1.6 billion this year. The task force aims to dismantle schemes promising high returns on crypto investments. In addition, the Ministry is preparing to enforce the Virtual Asset User Protection Act, set to be implemented in July, to ensure the protection of assets held by crypto users.

You might also like: Bitcoin ETFs under review by South Korean regulators, FSS governor shares insights

The latest initiative underscores South Korea’s commitment to fostering a transparent environment for crypto trading, even though the country lags behind other regions in crypto adoption.

As crypto.news reported earlier, South Korean financial regulators face mounting pressure to approve exchange-traded funds (ETFs) for cryptocurrencies, following the U.S. Securities and Exchange Commission’s recent approval of spot Ethereum ETFs. Jung Eui-jung, head of the Korean Stockholders’ Alliance, has emphasized the importance of following the U.S. example by endorsing Bitcoin and Ethereum ETFs, reflecting broader frustration with Seoul’s cautious approach to cryptocurrency regulation.

Read more: Korean tax service mulling new platform to monitor all crypto transactions
Exploring Diamante Blockchain With Founder and COO Chirag JetaniDisclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Chirag Jetani discusses how Diamante Blockchain is changing the industry with unique solutions in an exclusive interview. In this exclusive interview, we sit down with Chirag Jetani, Founder and COO of Diamante Blockchain, to delve into the unique capabilities and solutions that Diamante Blockchain brings to the market. With a focus on offering cutting-edge, 4th-generation, layer-1 hybrid blockchain-based solutions, Diamante Blockchain is enriching various industries by addressing key challenges in scalability, interoperability, and security. Chirag shares insights into how their proprietary blockchain protocol, Diamante Net, is designed for high-speed, secure, and versatile transactions, powered by their native digital asset, DIAM. He discusses the impact of DIAM within their ecosystem and highlights the diverse applications and dApps developed on their network that cater to industries such as finance, healthcare, gaming, and more. Join us as Chirag Jetani shares the journey of creating Diamante Blockchain, the challenges faced, and the exciting future developments that lie ahead in their mission to drive global adoption in the blockchain space. Can you tell us about the unique capabilities that Diamante Blockchain brings to the market? As a leader in offering 4th gen, layer-1 hybrid blockchain-based solutions, Diamante Blockchain brings several unique capabilities to the market. Our proprietary blockchain protocol, Diamante Net, is designed for high-speed, enhanced security, and versatility, enabling secure and low-cost transactions. Our ecosystem is powered by DIAM, our native digital asset built on the top of our network that supports various use cases including digital payments, tokenization, supply chain management, and a wide range of applications already being built on our network.  Our innovative blockchain and AI solutions cater to the diverse needs of various industries, from healthcare, insurance, banking, trade, and travel, while addressing the industry’s critical challenges around scalability, interoperability, and security. In addition to these, Diamante supports advanced features like Real World Assets (RWA), Decentralized Physical Infrastructure Networks (DePIN), gaming, the creator economy, and layer-2 solutions, making it a versatile and powerful platform for diverse applications. Moreover, our commitment to sustainability and innovation ensures that our solutions are not only technologically advanced but also contribute positively to the broader ecosystem. By fusing innovation and technology, we aim to offer sustainable solutions solutions that drive efficiency and growth across different sectors. There are several scalability and speed challenges in the current blockchain space. How do you believe Diamante addresses these issues? With the innovative architecture, Diamante Net, and the use of the Federated Byzantine Agreement (FBA) consensus mechanism, we are able to solve the major challenges in the current decentralization space. Our network excels in terms of transactions by processing them in less than 3-5 seconds and handling around 10 million transactions daily with a throughput of over 7500 transactions per second (TPS). Our network ensures high scalability without compromising security and allows seamless interoperability across diverse applications and networks. Could you elaborate on the role and impact of DIAM Coin within the Diamante ecosystem? DIAM is central to our ecosystem. It facilitates secure and efficient transactions, enabling platform governance and providing access to our dApps. As a native digital asset of our ecosystem, DIAM reduces transaction fees and enhances security with its anti-spamming mechanism. DIAM also enables users to access exclusive features within our suite of applications, thereby increasing user engagement and utility. What are some of the key dApps developed on Diamante Network and how do these dApps integrate with DIAM Coin to enhance the blockchain’s utility and user experience? Well, we have a wide range of dApps that solve major challenges in realms such as finance (banking, payments, accounting, CBDCs), textiles, gaming, tokenization & NFTs, and exchanges.  We’ve got PayCircle, a super app to make digital payments instantly. It supports multiple currencies, both Fiat transactions and digital asset trading. The app is for both individuals and businesses—It has features like split & pay, schedule payments and set recurring payments, and more. We also have DiamCircle which offers a platform to build dApps and is open for developers across the globe. Independent developers and businesses can integrate Diamante Net into their platforms or utilize the network infrastructure to build innovative dApps and exchange platforms. While our other platform, MudraCircle, provides CBDC solutions to central banks and financial institutions, MetaCircle offers virtual banking solutions that solve the major challenges in traditional banking. We also have a few dApps currently in the alpha stage on the Diamante Net, we have CreditCircle: Offers easy and fast loans against cryptocurrencies, allowing users to instantly monetize their crypto assets without the need to sell them. Mintify: A platform for creating and managing NFTs with customizable metadata and royalty distribution. ChainX: A cryptocurrency exchange platform for fast, secure, and cost-effective digital asset trading. NodeHRM: It is a software that streamlines HR tasks, offering seamless employee management. ChainCRM: It is a tool for enhancing business-customer relationships and helping with easy sales and leads management. Token Tool: The platform facilitates the creation and distribution of tokens easily. As a common space, all the dApps are developed on our network and utilize DIAM to streamline transactions and provide interactive user experience, thus increasing the utility of blockchain and AI technologies. Diamante Blockchain prioritizes security and efficiency. Can you elaborate on how the blockchain accomplishes this?  Security and efficiency are our top priorities, no doubt! We strive to safeguard user data and assets, and maintain confidentiality over their transactions through multi-layer authentication and advanced encryption measures.  Our network, Diamante Net, is fortified with a multi-layer authentication mechanism and anti-spamming controls, ensuring that only authenticated users and stakeholders can participate in transactions. Additionally, our encryption mechanism is built upon the underlying principles of Fully Harmonic Encryption (FHE), reducing the computational requirements for encryption and decryption of data within the network. This comprehensive approach to security and encryption not only safeguards sensitive information but also enhances the efficiency, reliability, and security of our blockchain network. Can you talk about the ways in which Diamante Network provides a competitive advantage over other blockchain platforms? As mentioned earlier, our decentralized infrastructure powered by the FBA, Federated Byzantine Agreement consensus mechanism ensures rapid transactions within 3-5 seconds. This speed significantly outpaces many existing platforms and positions us as a leader in efficiency. Another competitive advantage lies in the cross-chain compatibility that further distinguishes Diamante Network, enabling seamless integration with other major blockchain networks like Hyperledger Fabric and Binance Greenchain. This interoperability expands our reach and enhances liquidity, providing users with a robust and flexible platform. Security and compliance are fundamental to our operations. We have established rigorous security protocols and a proactive bug bounty program to ensure the integrity of our network and build trust among our users. Our integration of AI enhances the efficiency and user experience of our platform, providing advanced features like predictive analytics and intelligent transaction processing. The scalability and market traction of Diamante Net are evident in our achievements. With nearly 125 nodes ready for deployment and 217 dApps developed, we are well-positioned for continued growth. For example, in the healthcare sector, the Diamante Network ensures secure and immutable patient data management, significantly improving service efficiency and confidentiality. This application showcases our commitment to leveraging blockchain technology for solving real-world problems and reinforcing our position as a leader in the digital landscape. As Diamante looks to expand globally, particularly into markets like the UAE, USA, and India, what strategies are you employing to navigate the regulatory landscapes of these regions? Our legal teams employ proactive strategies involving engaging with local regulatory bodies. They understand compliance requirements while establishing partnerships with key stakeholders. Our global strategic collaborations with the Private Office of Highness Sheikh Mohamed Bin Ahmed Bin Hamadan Al Nahyan – the Royal Family of Abu Dhabi reflect our commitment to fostering high-level relationships that drive innovation and growth in multiple geographies. Our strategic partnerships with Credshield and our compliance with global auditing standards through partners like CertiK showcase our dedication to excellence. Additionally, our technical alliances with Binamite, HyperSign, and MetaDoge Unity signify our efforts to advance our technical capabilities. Our community partnerships with Web3Connect Global and ActualOne symbolize our zeal to foster a vibrant developer community and further drive the positive impact and growth of our ecosystem. We have established key partnerships with renowned organizations such as AWS and Azure, providing robust cloud infrastructure, and other strategic partnerships with Indian Banks’ Digital Infrastructure Company (IBDIC), QuillAudits, TransUnion and TransBnk, etc. DAOstruct aids us in building a strong developer community, while Union Bank and Ujjivan SFB support us in expanding our reach in the financial sector. These strategic partnerships and collaborations help us develop innovative applications and offer sustainable solutions. Creating something so unique in its functionalities couldn’t have been easy. Can you share some challenges you faced while creating Diamante Blockchain? Creating Diamante Blockchain was both challenging and rewarding. One of our main challenges was ensuring scalability without compromising security. Building a skilled and dedicated team was essential. We brought together experts in blockchain, finance, cybersecurity, and AI, aligning them with our vision of revolutionizing various industries. Encouraging a collaborative culture and clear communication helped us navigate technical complexities and regulatory challenges effectively. Achieving cross-chain compatibility with major networks like Hyperledger Fabric and Binance Greenchain required significant technical expertise and innovative solutions. Additionally, integrating AI to enhance efficiency and user experience added another layer of complexity. Through strong leadership and a united team effort, we overcame these obstacles, resulting in a robust and versatile blockchain platform that stands out across multiple sectors. Looking ahead, what are the big upcoming developments or innovations within the Diamante ecosystem? What does the future look like for Diamante?  Our goal is to make Diamante Blockchain a world leader in innovation across various industries with our strong network, Diamante Net. To do this, we’ll keep improving our technologies to ensure fast and secure transactions and better compatibility with other blockchains.  We’ll create tailored blockchain solutions for different sectors and engage the global community to foster innovation and find new opportunities. Forming strategic partnerships, upholding top security and compliance standards, and integrating advanced AI and data analytics are key parts of our plan.  Additionally, we are working closely with legal bodies across the globe to increase the adoption of blockchain. These efforts will help us build a groundbreaking blockchain ecosystem that promotes global adoption and drives innovation. To learn more, visit Diamante Blockchain, Socials, and DiamCircle, and its Socials. Read more: Interview with Yubo Ruan: decoding Parallel’s vision for defi on layer-2 Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Exploring Diamante Blockchain With Founder and COO Chirag Jetani

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Chirag Jetani discusses how Diamante Blockchain is changing the industry with unique solutions in an exclusive interview.

In this exclusive interview, we sit down with Chirag Jetani, Founder and COO of Diamante Blockchain, to delve into the unique capabilities and solutions that Diamante Blockchain brings to the market. With a focus on offering cutting-edge, 4th-generation, layer-1 hybrid blockchain-based solutions, Diamante Blockchain is enriching various industries by addressing key challenges in scalability, interoperability, and security.

Chirag shares insights into how their proprietary blockchain protocol, Diamante Net, is designed for high-speed, secure, and versatile transactions, powered by their native digital asset, DIAM. He discusses the impact of DIAM within their ecosystem and highlights the diverse applications and dApps developed on their network that cater to industries such as finance, healthcare, gaming, and more.

Join us as Chirag Jetani shares the journey of creating Diamante Blockchain, the challenges faced, and the exciting future developments that lie ahead in their mission to drive global adoption in the blockchain space.

Can you tell us about the unique capabilities that Diamante Blockchain brings to the market?

As a leader in offering 4th gen, layer-1 hybrid blockchain-based solutions, Diamante Blockchain brings several unique capabilities to the market. Our proprietary blockchain protocol, Diamante Net, is designed for high-speed, enhanced security, and versatility, enabling secure and low-cost transactions. Our ecosystem is powered by DIAM, our native digital asset built on the top of our network that supports various use cases including digital payments, tokenization, supply chain management, and a wide range of applications already being built on our network. 

Our innovative blockchain and AI solutions cater to the diverse needs of various industries, from healthcare, insurance, banking, trade, and travel, while addressing the industry’s critical challenges around scalability, interoperability, and security. In addition to these, Diamante supports advanced features like Real World Assets (RWA), Decentralized Physical Infrastructure Networks (DePIN), gaming, the creator economy, and layer-2 solutions, making it a versatile and powerful platform for diverse applications.

Moreover, our commitment to sustainability and innovation ensures that our solutions are not only technologically advanced but also contribute positively to the broader ecosystem. By fusing innovation and technology, we aim to offer sustainable solutions solutions that drive efficiency and growth across different sectors.

There are several scalability and speed challenges in the current blockchain space. How do you believe Diamante addresses these issues?

With the innovative architecture, Diamante Net, and the use of the Federated Byzantine Agreement (FBA) consensus mechanism, we are able to solve the major challenges in the current decentralization space. Our network excels in terms of transactions by processing them in less than 3-5 seconds and handling around 10 million transactions daily with a throughput of over 7500 transactions per second (TPS). Our network ensures high scalability without compromising security and allows seamless interoperability across diverse applications and networks.

Could you elaborate on the role and impact of DIAM Coin within the Diamante ecosystem?

DIAM is central to our ecosystem. It facilitates secure and efficient transactions, enabling platform governance and providing access to our dApps. As a native digital asset of our ecosystem, DIAM reduces transaction fees and enhances security with its anti-spamming mechanism. DIAM also enables users to access exclusive features within our suite of applications, thereby increasing user engagement and utility.

What are some of the key dApps developed on Diamante Network and how do these dApps integrate with DIAM Coin to enhance the blockchain’s utility and user experience?

Well, we have a wide range of dApps that solve major challenges in realms such as finance (banking, payments, accounting, CBDCs), textiles, gaming, tokenization & NFTs, and exchanges. 

We’ve got PayCircle, a super app to make digital payments instantly. It supports multiple currencies, both Fiat transactions and digital asset trading. The app is for both individuals and businesses—It has features like split & pay, schedule payments and set recurring payments, and more.

We also have DiamCircle which offers a platform to build dApps and is open for developers across the globe. Independent developers and businesses can integrate Diamante Net into their platforms or utilize the network infrastructure to build innovative dApps and exchange platforms.

While our other platform, MudraCircle, provides CBDC solutions to central banks and financial institutions, MetaCircle offers virtual banking solutions that solve the major challenges in traditional banking.

We also have a few dApps currently in the alpha stage on the Diamante Net, we have

CreditCircle: Offers easy and fast loans against cryptocurrencies, allowing users to instantly monetize their crypto assets without the need to sell them.

Mintify: A platform for creating and managing NFTs with customizable metadata and royalty distribution.

ChainX: A cryptocurrency exchange platform for fast, secure, and cost-effective digital asset trading.

NodeHRM: It is a software that streamlines HR tasks, offering seamless employee management.

ChainCRM: It is a tool for enhancing business-customer relationships and helping with easy sales and leads management.

Token Tool: The platform facilitates the creation and distribution of tokens easily.

As a common space, all the dApps are developed on our network and utilize DIAM to streamline transactions and provide interactive user experience, thus increasing the utility of blockchain and AI technologies.

Diamante Blockchain prioritizes security and efficiency. Can you elaborate on how the blockchain accomplishes this? 

Security and efficiency are our top priorities, no doubt! We strive to safeguard user data and assets, and maintain confidentiality over their transactions through multi-layer authentication and advanced encryption measures. 

Our network, Diamante Net, is fortified with a multi-layer authentication mechanism and anti-spamming controls, ensuring that only authenticated users and stakeholders can participate in transactions. Additionally, our encryption mechanism is built upon the underlying principles of Fully Harmonic Encryption (FHE), reducing the computational requirements for encryption and decryption of data within the network. This comprehensive approach to security and encryption not only safeguards sensitive information but also enhances the efficiency, reliability, and security of our blockchain network.

Can you talk about the ways in which Diamante Network provides a competitive advantage over other blockchain platforms?

As mentioned earlier, our decentralized infrastructure powered by the FBA, Federated Byzantine Agreement consensus mechanism ensures rapid transactions within 3-5 seconds. This speed significantly outpaces many existing platforms and positions us as a leader in efficiency.

Another competitive advantage lies in the cross-chain compatibility that further distinguishes Diamante Network, enabling seamless integration with other major blockchain networks like Hyperledger Fabric and Binance Greenchain. This interoperability expands our reach and enhances liquidity, providing users with a robust and flexible platform.

Security and compliance are fundamental to our operations. We have established rigorous security protocols and a proactive bug bounty program to ensure the integrity of our network and build trust among our users. Our integration of AI enhances the efficiency and user experience of our platform, providing advanced features like predictive analytics and intelligent transaction processing.

The scalability and market traction of Diamante Net are evident in our achievements. With nearly 125 nodes ready for deployment and 217 dApps developed, we are well-positioned for continued growth. For example, in the healthcare sector, the Diamante Network ensures secure and immutable patient data management, significantly improving service efficiency and confidentiality. This application showcases our commitment to leveraging blockchain technology for solving real-world problems and reinforcing our position as a leader in the digital landscape.

As Diamante looks to expand globally, particularly into markets like the UAE, USA, and India, what strategies are you employing to navigate the regulatory landscapes of these regions?

Our legal teams employ proactive strategies involving engaging with local regulatory bodies. They understand compliance requirements while establishing partnerships with key stakeholders. Our global strategic collaborations with the Private Office of Highness Sheikh Mohamed Bin Ahmed Bin Hamadan Al Nahyan – the Royal Family of Abu Dhabi reflect our commitment to fostering high-level relationships that drive innovation and growth in multiple geographies.

Our strategic partnerships with Credshield and our compliance with global auditing standards through partners like CertiK showcase our dedication to excellence. Additionally, our technical alliances with Binamite, HyperSign, and MetaDoge Unity signify our efforts to advance our technical capabilities. Our community partnerships with Web3Connect Global and ActualOne symbolize our zeal to foster a vibrant developer community and further drive the positive impact and growth of our ecosystem.

We have established key partnerships with renowned organizations such as AWS and Azure, providing robust cloud infrastructure, and other strategic partnerships with Indian Banks’ Digital Infrastructure Company (IBDIC), QuillAudits, TransUnion and TransBnk, etc. DAOstruct aids us in building a strong developer community, while Union Bank and Ujjivan SFB support us in expanding our reach in the financial sector. These strategic partnerships and collaborations help us develop innovative applications and offer sustainable solutions.

Creating something so unique in its functionalities couldn’t have been easy. Can you share some challenges you faced while creating Diamante Blockchain?

Creating Diamante Blockchain was both challenging and rewarding. One of our main challenges was ensuring scalability without compromising security.

Building a skilled and dedicated team was essential. We brought together experts in blockchain, finance, cybersecurity, and AI, aligning them with our vision of revolutionizing various industries. Encouraging a collaborative culture and clear communication helped us navigate technical complexities and regulatory challenges effectively.

Achieving cross-chain compatibility with major networks like Hyperledger Fabric and Binance Greenchain required significant technical expertise and innovative solutions. Additionally, integrating AI to enhance efficiency and user experience added another layer of complexity.

Through strong leadership and a united team effort, we overcame these obstacles, resulting in a robust and versatile blockchain platform that stands out across multiple sectors.

Looking ahead, what are the big upcoming developments or innovations within the Diamante ecosystem? What does the future look like for Diamante? 

Our goal is to make Diamante Blockchain a world leader in innovation across various industries with our strong network, Diamante Net. To do this, we’ll keep improving our technologies to ensure fast and secure transactions and better compatibility with other blockchains. 

We’ll create tailored blockchain solutions for different sectors and engage the global community to foster innovation and find new opportunities. Forming strategic partnerships, upholding top security and compliance standards, and integrating advanced AI and data analytics are key parts of our plan. 

Additionally, we are working closely with legal bodies across the globe to increase the adoption of blockchain. These efforts will help us build a groundbreaking blockchain ecosystem that promotes global adoption and drives innovation.

To learn more, visit Diamante Blockchain, Socials, and DiamCircle, and its Socials.

Read more: Interview with Yubo Ruan: decoding Parallel’s vision for defi on layer-2

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Pepe Price Soars Over 70% This Week With Continued MomentumDisclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Pepe surges over 70% this week, outpacing the broader crypto market amid Ethereum ETF news, while Dogeverse gains traction with its multichain approach. Pepe has surged over 70% this week, posting a decisive outperformance against the broader crypto market. Is the meme coin poised to continue rising or will it run out of steam? Pepe shows strength on ETH ETF rally The United States Securities and Exchange Commission’s green light to Ethereum spot ETFs has enabled Pepe’s recent parabolic rally. Currently, the frog-themed memecoin is trading at $0.00001695, up 14% today, 79% this week, and 183% this month. It holds a $7.1 billion market cap and a $2.7 billion 24-hour trading volume, up 39% today. Based on its market cap, Pepe stands as the third-largest memecoin and the 18th-largest cryptocurrency. However, its trading volume makes it the largest memecoin and the seventh-largest cryptocurrency. This market cap and volume discrepancy reflects a steadfast interest in Pepe, with the Ethereum spot ETFs recently catapulting it into the limelight. Immediately following the ETF approvals on 23 May, Pepe began outperforming other Ethereum ecosystem tokens. 🎯 $PEPE it was https://t.co/FjeFMaQHyH pic.twitter.com/CwDkoJQTWr — HORSE (@TheFlowHorse) May 20, 2024 However, the momentum has continued, and now leading analysts are backing Pepe for further growth. Jameson recently suggested that Pepe will “flip” Shiba Inu’s market cap and compared its current price action to Dogecoin’s in 2021. $PEPE looks IDENTICAL to doge'21It is CLEARLY the chosen meme of this cycle and I expect it to PUMP like doge did in 202110B & SHIB flippening are IMMINENT at this pointPrepare yourself for what is to comeSO much higher https://t.co/IyJtqYoijt pic.twitter.com/7WIL9QOduS — Jameson (@JamesonEth) May 24, 2024 CryptoKnight anticipates an explosive uptick toward $0.00003958, marking a 136% increase from its current price. $pepe memecoins game is stronggg pic.twitter.com/QuGvzWcwIt — KNIGHT $INJ TO 100$ (@cryptoknight890) May 26, 2024 Meanwhile, prominent trader Bluntz suspects Pepe is a leading ETH “beta” alongside other ecosystem memecoins. This refers to Pepe mimicking ETH’s price but with more volatile swings. The analyst also noted that Ethereum is gaining pace on Bitcoin, suggesting that Pepe could provide significant returns. 11 weeks of red candles erased in 8 days for eth/btc.absolutely love to see it.imo, eth based memes are gonna be the highest beta, $pepe $floki etc…. not the typical L2 coins that ppl expect$ETH https://t.co/H5tzfWkr3w pic.twitter.com/weWEEHcat4 — Bluntz (@Bluntz_Capital) May 27, 2024 But alongside Pepe, other emerging Ethereum-based memecoins are also on the rise. One of the most promising is the newly launched Dogeverse, a multichain memecoin available on the six hottest smart contract-enabled blockchains. Could Dogeverse be the next big memecoin? By taking an unprecedented multichain approach, Dogeverse has direct on-chain exposure to Ethereum, Solana, Base, Avalanche, BSC, and Polygon. So, while Ethereum’s ETF narrative is bolstering its ecosystem token prices now, Dogeverse will also benefit when the next narrative arises, even if it is on a different chain. The token is currently in its presale and has raised over $15 million so far. This makes it one of 2024’s hottest ICOs, laying the way for huge post-exchange launch potential. However, the campaign is in its closing stages and will end in seven days. This leaves little time for traders to buy DOGEVERSE at its fixed and discounted presale price. Dogeverse’s multichain utility ushers in a slew of exciting benefits, like the potential for massive community growth and on-chain investment. But to extend its long-term potential, the team has also established a staking layer that rewards users for locking up their tokens. Stakers can currently earn a 48% APY, but this will decrease as more tokens are deposited. The project’s use case has drawn a vibrant community, with over 20K followers on its X account and over 14K Telegram members. To learn more, visit the Dogeverse presale. Read more: Memecoin Dogeverse nears exchange listing after raising $15m in presale Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Pepe Price Soars Over 70% This Week With Continued Momentum

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Pepe surges over 70% this week, outpacing the broader crypto market amid Ethereum ETF news, while Dogeverse gains traction with its multichain approach.

Pepe has surged over 70% this week, posting a decisive outperformance against the broader crypto market. Is the meme coin poised to continue rising or will it run out of steam?

Pepe shows strength on ETH ETF rally

The United States Securities and Exchange Commission’s green light to Ethereum spot ETFs has enabled Pepe’s recent parabolic rally.

Currently, the frog-themed memecoin is trading at $0.00001695, up 14% today, 79% this week, and 183% this month. It holds a $7.1 billion market cap and a $2.7 billion 24-hour trading volume, up 39% today.

Based on its market cap, Pepe stands as the third-largest memecoin and the 18th-largest cryptocurrency. However, its trading volume makes it the largest memecoin and the seventh-largest cryptocurrency.

This market cap and volume discrepancy reflects a steadfast interest in Pepe, with the Ethereum spot ETFs recently catapulting it into the limelight.

Immediately following the ETF approvals on 23 May, Pepe began outperforming other Ethereum ecosystem tokens.

🎯 $PEPE it was https://t.co/FjeFMaQHyH pic.twitter.com/CwDkoJQTWr

— HORSE (@TheFlowHorse) May 20, 2024

However, the momentum has continued, and now leading analysts are backing Pepe for further growth. Jameson recently suggested that Pepe will “flip” Shiba Inu’s market cap and compared its current price action to Dogecoin’s in 2021.

$PEPE looks IDENTICAL to doge'21It is CLEARLY the chosen meme of this cycle and I expect it to PUMP like doge did in 202110B & SHIB flippening are IMMINENT at this pointPrepare yourself for what is to comeSO much higher https://t.co/IyJtqYoijt pic.twitter.com/7WIL9QOduS

— Jameson (@JamesonEth) May 24, 2024

CryptoKnight anticipates an explosive uptick toward $0.00003958, marking a 136% increase from its current price.

$pepe memecoins game is stronggg pic.twitter.com/QuGvzWcwIt

— KNIGHT $INJ TO 100$ (@cryptoknight890) May 26, 2024

Meanwhile, prominent trader Bluntz suspects Pepe is a leading ETH “beta” alongside other ecosystem memecoins. This refers to Pepe mimicking ETH’s price but with more volatile swings.

The analyst also noted that Ethereum is gaining pace on Bitcoin, suggesting that Pepe could provide significant returns.

11 weeks of red candles erased in 8 days for eth/btc.absolutely love to see it.imo, eth based memes are gonna be the highest beta, $pepe $floki etc…. not the typical L2 coins that ppl expect$ETH https://t.co/H5tzfWkr3w pic.twitter.com/weWEEHcat4

— Bluntz (@Bluntz_Capital) May 27, 2024

But alongside Pepe, other emerging Ethereum-based memecoins are also on the rise.

One of the most promising is the newly launched Dogeverse, a multichain memecoin available on the six hottest smart contract-enabled blockchains.

Could Dogeverse be the next big memecoin?

By taking an unprecedented multichain approach, Dogeverse has direct on-chain exposure to Ethereum, Solana, Base, Avalanche, BSC, and Polygon.

So, while Ethereum’s ETF narrative is bolstering its ecosystem token prices now, Dogeverse will also benefit when the next narrative arises, even if it is on a different chain.

The token is currently in its presale and has raised over $15 million so far. This makes it one of 2024’s hottest ICOs, laying the way for huge post-exchange launch potential.

However, the campaign is in its closing stages and will end in seven days. This leaves little time for traders to buy DOGEVERSE at its fixed and discounted presale price.

Dogeverse’s multichain utility ushers in a slew of exciting benefits, like the potential for massive community growth and on-chain investment.

But to extend its long-term potential, the team has also established a staking layer that rewards users for locking up their tokens.

Stakers can currently earn a 48% APY, but this will decrease as more tokens are deposited.

The project’s use case has drawn a vibrant community, with over 20K followers on its X account and over 14K Telegram members.

To learn more, visit the Dogeverse presale.

Read more: Memecoin Dogeverse nears exchange listing after raising $15m in presale

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Hong Kong to Reportedly Test Retail Digital Currency for Mortgage PricingHong Kong is set to start another trial with retail e-HKD, this time for pricing and distributing mortgages. The Hong Kong Monetary Authority (HKMA) is gearing up to initiate another round of testing of its digital currency dubbed e-HKD, the South China Morning Post reports. This time, HKMA reportedly wants to pilot e-HKD with select participants in such mechanisms as pricing and distribution of mortgages in the region. The report says, citing HKMA, that with e-HKD, Hong Kong residents could potentially borrow from more than one lender at preferential rates and enjoy faster approval and disbursement. It’s unclear though whether the region will set up a new regulatory body to oversee any activity related to mortgages and lending practices involving e-HKD. You might also like: Hong Kong father-son surrender in $2m crypto investor kidnapping case Several financial institutions in Hong Kong, including Boston Consulting Group (BCG) and ZA Bank, have already expressed interest in this use case during their initial pilot programs. BCG estimates suggest that the utilization of e-HKD could extend to tokenized assets, digitizing assets valued at approximately $4.6 trillion, primarily residential property. The pilot acceleration coincides with China’s recent launch of its first pilot outside the mainland, introducing the digital yuan, also known as e-CNY, in Hong Kong. The digital yuan is currently undergoing trials for cross-boundary payments, enabling Hong Kong residents to top up digital wallets with up to 10,000 CNY (approximately $1,385) through 17 retail banks in Hong Kong, including Standard Chartered Bank, ZA Bank, and DBS Bank. Read more: Worldcoin ‘disappointed’ with ban in Hong Kong, says authorities ‘overlooked’ aspects

Hong Kong to Reportedly Test Retail Digital Currency for Mortgage Pricing

Hong Kong is set to start another trial with retail e-HKD, this time for pricing and distributing mortgages.

The Hong Kong Monetary Authority (HKMA) is gearing up to initiate another round of testing of its digital currency dubbed e-HKD, the South China Morning Post reports. This time, HKMA reportedly wants to pilot e-HKD with select participants in such mechanisms as pricing and distribution of mortgages in the region.

The report says, citing HKMA, that with e-HKD, Hong Kong residents could potentially borrow from more than one lender at preferential rates and enjoy faster approval and disbursement. It’s unclear though whether the region will set up a new regulatory body to oversee any activity related to mortgages and lending practices involving e-HKD.

You might also like: Hong Kong father-son surrender in $2m crypto investor kidnapping case

Several financial institutions in Hong Kong, including Boston Consulting Group (BCG) and ZA Bank, have already expressed interest in this use case during their initial pilot programs. BCG estimates suggest that the utilization of e-HKD could extend to tokenized assets, digitizing assets valued at approximately $4.6 trillion, primarily residential property.

The pilot acceleration coincides with China’s recent launch of its first pilot outside the mainland, introducing the digital yuan, also known as e-CNY, in Hong Kong. The digital yuan is currently undergoing trials for cross-boundary payments, enabling Hong Kong residents to top up digital wallets with up to 10,000 CNY (approximately $1,385) through 17 retail banks in Hong Kong, including Standard Chartered Bank, ZA Bank, and DBS Bank.

Read more: Worldcoin ‘disappointed’ with ban in Hong Kong, says authorities ‘overlooked’ aspects
ETH Team Lead Says Most ETH Clients ‘very Aggressively’ Delete Old DataEthereum team lead Péter Szilágyi says many Ethereum clients “very aggressively” delete old chain segments, raising questions about network dependency on Geth. Ethereum software client Geth (also known as Go Ethereum) remains a focal point of discussion, as Ethereum team lead Péter Szilágyi raised concerns about the increasing reliance on Geth, emphasizing the broader implications for data availability and network decentralization. I wanted to do a direct reply, but figured this is an interesting thing to expand a bit, so here's a top level tweet instead.Bitcoiners forever hated us because we redefined what full nodes meant (for us). We didn't do it out of any hidden reason, simply the storage model was… https://t.co/e7YotRRFfC — Péter Szilágyi (karalabe.eth) (@peter_szilagyi) May 27, 2024 In an X post on May 27, Szilágyi addressed the complex dynamics surrounding Ethereum’s storage infrastructure, highlighting parallels with the contentious debates that have long surrounded Bitcoin’s development. Szilágyi’s concern centers on Ethereum’s growing dependence on Geth for data storage, particularly as the platform aims to scale up. The Ethereum team lead pointed out a divergence among Ethereum clients, with many besides Geth opting to “aggressively” remove old chain segments, because they “aren’t needed.” “Most of the other clients beside Geth started very aggressively deleting old chain segments, because they aren’t needed. The reasoning is that you can reprocess the chain, so you ‘full sync’, but there’s no need to keep the data (yeah, because Geth maintains it for us, losers).” Péter Szilágyi You might also like: More Ethereum holders moving coins to centralized exchanges, on-chain data shows While this strategy may offer short-term benefits in terms of storage optimization, Szilágyi raised profound questions about the long-term resilience and decentralization of the Ethereum network. He particularly warned of the inherent risks associated with data dependency and the potential consequences of widespread data purging, saying “data tends to always disappear, never reappear, so the more people discard something, the less probable it is that the remainder of the nodes will be willing to store/serve it themselves; and the harder it will be to find those few who are willing to serve it.” Ethereum clients | Source: Ethernodes The Ethereum community has long grappled with concerns regarding the dependency on Ethereum clients. As per data from Ethernodes, over 40% of Ethereum clients are dependent on Geth, with nearly 38% on Nethermind, another software client in the Ethereum ecosystem. As a result, the issue of Ethereum client dependency has prompted major crypto companies like Coinbase to explore alternative Ethereum execution clients in order to diversify their infrastructure. Read more: Dencun update goes live on Ethereum mainnet

ETH Team Lead Says Most ETH Clients ‘very Aggressively’ Delete Old Data

Ethereum team lead Péter Szilágyi says many Ethereum clients “very aggressively” delete old chain segments, raising questions about network dependency on Geth.

Ethereum software client Geth (also known as Go Ethereum) remains a focal point of discussion, as Ethereum team lead Péter Szilágyi raised concerns about the increasing reliance on Geth, emphasizing the broader implications for data availability and network decentralization.

I wanted to do a direct reply, but figured this is an interesting thing to expand a bit, so here's a top level tweet instead.Bitcoiners forever hated us because we redefined what full nodes meant (for us). We didn't do it out of any hidden reason, simply the storage model was… https://t.co/e7YotRRFfC

— Péter Szilágyi (karalabe.eth) (@peter_szilagyi) May 27, 2024

In an X post on May 27, Szilágyi addressed the complex dynamics surrounding Ethereum’s storage infrastructure, highlighting parallels with the contentious debates that have long surrounded Bitcoin’s development.

Szilágyi’s concern centers on Ethereum’s growing dependence on Geth for data storage, particularly as the platform aims to scale up. The Ethereum team lead pointed out a divergence among Ethereum clients, with many besides Geth opting to “aggressively” remove old chain segments, because they “aren’t needed.”

“Most of the other clients beside Geth started very aggressively deleting old chain segments, because they aren’t needed. The reasoning is that you can reprocess the chain, so you ‘full sync’, but there’s no need to keep the data (yeah, because Geth maintains it for us, losers).”

Péter Szilágyi

You might also like: More Ethereum holders moving coins to centralized exchanges, on-chain data shows

While this strategy may offer short-term benefits in terms of storage optimization, Szilágyi raised profound questions about the long-term resilience and decentralization of the Ethereum network.

He particularly warned of the inherent risks associated with data dependency and the potential consequences of widespread data purging, saying “data tends to always disappear, never reappear, so the more people discard something, the less probable it is that the remainder of the nodes will be willing to store/serve it themselves; and the harder it will be to find those few who are willing to serve it.”

Ethereum clients | Source: Ethernodes

The Ethereum community has long grappled with concerns regarding the dependency on Ethereum clients.

As per data from Ethernodes, over 40% of Ethereum clients are dependent on Geth, with nearly 38% on Nethermind, another software client in the Ethereum ecosystem. As a result, the issue of Ethereum client dependency has prompted major crypto companies like Coinbase to explore alternative Ethereum execution clients in order to diversify their infrastructure.

Read more: Dencun update goes live on Ethereum mainnet
Dogecoin Killers or Hype: Are Traders Still Making Millions on Meme Coins? Meme coins still bring profit, but not for everyone. Investors told crypto.news how much they were able to earn from the meme coin hype. Meme coins posted an astonishing return of 1,313% on average in the first quarter. And this sector doesn’t even think about stopping its growth, bringing traders millions of dollars in profits. Source: CoinGecko Huge positive price waves in a matter of days or weeks are natural. But what is this all about?  What are meme coins? Meme coins are a type of cryptocurrency whose popularity is directly related to internet memes and viral marketing on social networks. Typically, they are initially created as a joke without any practical function. The first and most famous token was Dogecoin (DOGE), launched in 2013 based on the popular Shiba Inu dog meme. DOGE was initially intended to be a parody of Bitcoin (BTC). However, over time, this asset gained a billion-dollar capitalization. You might also like: More than a Dogecoin meme: Shiba Inu Kabosu remembered by the community The main difference between meme coins and traditional cryptocurrencies such as Ethereum (ETH) or Bitcoin is the lack of intrinsic value and emission restrictions. Their cost depends entirely on demand amid the Internet boom, and because of this, meme coins are characterized by increased volatility. However, recently, there has been a tendency to give meme coins greater practical significance. For example, the developers of Shiba Inu (SHIB) and FLOKI are creating their own metaverses, NFT platforms, and educational ecosystems based on these assets. You might also like: Meme coins market cap hits $58b Million-dollar profit — this year’s trend The number of issued meme tokens is growing with enviable regularity, and traders manage to earn fortunes from them. However, such success is usually short-term and random. In the long term, as internet popularity declines, the value of most meme coins tends to zero.  Presumably, those who earn millions of dollars on meme tokens have insider information. Otherwise, how would these traders and investors know that prices for certain meme coins would show rapid growth? The editors of crypto.news spoke with traders who could make profits on condition of anonymity. Frog Investments Members of the Pepe (PEPE) crypto community are celebrating the frog token’s new all-time high. Amid this, one user said that he turned just $90 into $1.4 million thanks to PEPE. In mid-April 2023, a trader purchased almost 6.5 trillion PEPE on the Uniswap crypto exchange just for fun. Since the initial investment amount was small, the trader did not sell the tokens and decided to watch what would happen to them. This decision turned out to be the most correct one — in May 2024, 6.5 trillion PEPE made the anonymous trader a dollar millionaire. However, a user with the nickname Mina said that he does not intend to sell PEPE and now believes that one day, the price of the frog coin will exceed $1. “Sometimes I want to sell my PEPE, but I save it as a reminder not to rush. The meme coin market has not yet finished conquering the peaks, and it is likely that my PEPE will make me a billionaire in a year.” Mina, anonymous trader Strong belief in dogs and love of hats A trader from the meme coin Telegram community shared an impressive story of earnings on the Dogwifhat (WIF) coin. However, this case is unlike the inspiring stories of traders whose coins grow 1000 times in an hour. The anonymous trader used a different strategy — HODL. He purchased WIF in December 2023 and analyzed the overall activity on the Solana network and the crypto market’s growth prospects. After weighing all the risks, the trader bought approximately $500 worth of tokens, expecting further growth. As a result, he earned about $15,000 simply by keeping assets on his balance sheet.  “I’ve heard stories of traders making billions of dollars in profits starting with just $100. However, as an active participant in the crypto community, I find these stories to be the exception to the rule. The meme coin market is still very opaque and confusing, so the inspiring stories about traders are likely simply insider trading.” Meme coin community member You might also like: dogwifhat price prediction: WIF price analysis and overview More conservatism  Another crypto community member with the nickname Andilet called for caution when investing in meme coins and shared his strategy for diversifying assets. He advised dividing the crypto portfolio by risk level, with 10% of the portfolio made up of high-risk, volatile coins, including meme coins. Despite the high risk, allocating part of the portfolio to meme coins seemed appropriate since meme coins are more likely to provide significant profits.  “In general, it is difficult to predict in the long term how the meme coin market will behave — because in memes, everything depends heavily on hype, the level of which is also challenging to predict.” Andilet, SHIB investor He invested in Shiba Inu in the summer of 2023, spending about $5,000 to purchase coins at a price of $0.0000077. Now, with an SHIB rate of $0.000025, his assets are worth about $50,000. “I believe that in the case of meme coins, an individual approach to each project is important. You can guess the trend in the short and medium term by closely studying the project.” Andilet, SHIB investor Summing up: to invest or not to invest? Investing in meme cryptocurrencies is a considerable risk. This can bring a solid profit due to speculation, successful exit timing, and a complete capital loss. The main thing is to monitor social networks, read the news, be able to search for information, and the first time a media personality mentions any meme coin, try to get it. You might also like: Meme coins become top gainers again in flat crypto market

Dogecoin Killers or Hype: Are Traders Still Making Millions on Meme Coins? 

Meme coins still bring profit, but not for everyone. Investors told crypto.news how much they were able to earn from the meme coin hype.

Meme coins posted an astonishing return of 1,313% on average in the first quarter. And this sector doesn’t even think about stopping its growth, bringing traders millions of dollars in profits.

Source: CoinGecko

Huge positive price waves in a matter of days or weeks are natural. But what is this all about? 

What are meme coins?

Meme coins are a type of cryptocurrency whose popularity is directly related to internet memes and viral marketing on social networks. Typically, they are initially created as a joke without any practical function.

The first and most famous token was Dogecoin (DOGE), launched in 2013 based on the popular Shiba Inu dog meme. DOGE was initially intended to be a parody of Bitcoin (BTC). However, over time, this asset gained a billion-dollar capitalization.

You might also like: More than a Dogecoin meme: Shiba Inu Kabosu remembered by the community

The main difference between meme coins and traditional cryptocurrencies such as Ethereum (ETH) or Bitcoin is the lack of intrinsic value and emission restrictions. Their cost depends entirely on demand amid the Internet boom, and because of this, meme coins are characterized by increased volatility.

However, recently, there has been a tendency to give meme coins greater practical significance. For example, the developers of Shiba Inu (SHIB) and FLOKI are creating their own metaverses, NFT platforms, and educational ecosystems based on these assets.

You might also like: Meme coins market cap hits $58b

Million-dollar profit — this year’s trend

The number of issued meme tokens is growing with enviable regularity, and traders manage to earn fortunes from them. However, such success is usually short-term and random. In the long term, as internet popularity declines, the value of most meme coins tends to zero. 

Presumably, those who earn millions of dollars on meme tokens have insider information. Otherwise, how would these traders and investors know that prices for certain meme coins would show rapid growth? The editors of crypto.news spoke with traders who could make profits on condition of anonymity.

Frog Investments

Members of the Pepe (PEPE) crypto community are celebrating the frog token’s new all-time high. Amid this, one user said that he turned just $90 into $1.4 million thanks to PEPE.

In mid-April 2023, a trader purchased almost 6.5 trillion PEPE on the Uniswap crypto exchange just for fun. Since the initial investment amount was small, the trader did not sell the tokens and decided to watch what would happen to them.

This decision turned out to be the most correct one — in May 2024, 6.5 trillion PEPE made the anonymous trader a dollar millionaire. However, a user with the nickname Mina said that he does not intend to sell PEPE and now believes that one day, the price of the frog coin will exceed $1.

“Sometimes I want to sell my PEPE, but I save it as a reminder not to rush. The meme coin market has not yet finished conquering the peaks, and it is likely that my PEPE will make me a billionaire in a year.”

Mina, anonymous trader

Strong belief in dogs and love of hats

A trader from the meme coin Telegram community shared an impressive story of earnings on the Dogwifhat (WIF) coin. However, this case is unlike the inspiring stories of traders whose coins grow 1000 times in an hour.

The anonymous trader used a different strategy — HODL. He purchased WIF in December 2023 and analyzed the overall activity on the Solana network and the crypto market’s growth prospects.

After weighing all the risks, the trader bought approximately $500 worth of tokens, expecting further growth. As a result, he earned about $15,000 simply by keeping assets on his balance sheet. 

“I’ve heard stories of traders making billions of dollars in profits starting with just $100. However, as an active participant in the crypto community, I find these stories to be the exception to the rule. The meme coin market is still very opaque and confusing, so the inspiring stories about traders are likely simply insider trading.”

Meme coin community member

You might also like: dogwifhat price prediction: WIF price analysis and overview

More conservatism 

Another crypto community member with the nickname Andilet called for caution when investing in meme coins and shared his strategy for diversifying assets. He advised dividing the crypto portfolio by risk level, with 10% of the portfolio made up of high-risk, volatile coins, including meme coins.

Despite the high risk, allocating part of the portfolio to meme coins seemed appropriate since meme coins are more likely to provide significant profits. 

“In general, it is difficult to predict in the long term how the meme coin market will behave — because in memes, everything depends heavily on hype, the level of which is also challenging to predict.”

Andilet, SHIB investor

He invested in Shiba Inu in the summer of 2023, spending about $5,000 to purchase coins at a price of $0.0000077. Now, with an SHIB rate of $0.000025, his assets are worth about $50,000.

“I believe that in the case of meme coins, an individual approach to each project is important. You can guess the trend in the short and medium term by closely studying the project.”

Andilet, SHIB investor

Summing up: to invest or not to invest?

Investing in meme cryptocurrencies is a considerable risk. This can bring a solid profit due to speculation, successful exit timing, and a complete capital loss. The main thing is to monitor social networks, read the news, be able to search for information, and the first time a media personality mentions any meme coin, try to get it.

You might also like: Meme coins become top gainers again in flat crypto market
Chainge Receives $13m Investment to Enhance Cross-chain TradingDisclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Chainge secures a $13 million investment from GEM Digital and Alpha Token Capital to enhance cross-chain trading efficiency and accessibility. Chainge, a trailblazer in the cross-chain trading space, has announced a significant milestone with a $13 million investment commitment from two prominent digital asset investment firms. GEM Digital Limited, based in The Bahamas, has pledged $10 million, while Alpha Token Capital (ATC) has invested $3 million in Chainge’s mission to change the long tail exchange market. The substantial investment serves as a resounding endorsement of Chainge’s vision to empower users with seamless access to digital assets across multiple chains. With a dedicated focus on breaking down barriers in the digital asset space, Chainge aims to provide users with the tools necessary to navigate the complexities of blockchain technology effortlessly. Chainge’s leadership and vision  Under the guidance of esteemed board members Najam Kidwai, Mike Lempress, and Dejun Qian, Chainge is set to disrupt the long tail exchange market. The platform’s mission is to redefine standards in cross-chain trading, capturing emerging opportunities in the rapidly evolving digital asset landscape. Chainge’s leadership team brings a wealth of expertise to guide the platform’s disruptive journey. You might also like: Solana gains momentum following Solana-Bitcoin cross-chain announcement Achievements and infrastructure  Chainge boasts an impressive track record and robust infrastructure: Full-fledged 2-product suite, both mobile and web-based Robust DCRM bridge infrastructure Secure cross-chain transactions across 55 blockchains Surpassed $1 billion in cumulative trading volume These achievements demonstrate Chainge’s commitment to crafting a future where AI-powered cross-chain trading is efficient, secure, and accessible to all. About the investors  GEM Digital Limited, part of The Global Emerging Markets Group (GEM), a $3.4 billion alternative investment group, actively sources, structures, and invests in utility tokens listed on over 30 centralized and decentralized exchanges globally. Their investment in Chainge highlights their confidence in the platform’s potential to shape the future of cross-chain trading. Alpha Token Capital (ATC), a specialized token fund, is dedicated to elevating the intrinsic value of promising token projects across various markets. With notable investments in tokens such as OPUL, Map Protocol, VELA exchange, FRONT Frontier, and Vulcan Forged, ATC’s support for Chainge further solidifies the platform’s position in the cryptocurrency ecosystem. Future outlook  As Chainge moves forward with this significant investment, the platform is poised to accelerate its growth and expand its reach in the cross-chain trading market. With a vision to make AI-powered cross-chain trading efficient, secure, and accessible to all, Chainge is set to play a pivotal role in shaping the future of the digital asset landscape. The $13 million investment from GEM Digital and Alpha Token Capital marks a crucial milestone in Chainge’s journey, enabling the platform to further develop its infrastructure, expand its offerings, and solidify its position as a leader in the cross-chain trading space. Read more: Chainge Finance Proposes Full Decentralization of Celsius; Offers to Buy Qualifying Assets Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Chainge Receives $13m Investment to Enhance Cross-chain Trading

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Chainge secures a $13 million investment from GEM Digital and Alpha Token Capital to enhance cross-chain trading efficiency and accessibility.

Chainge, a trailblazer in the cross-chain trading space, has announced a significant milestone with a $13 million investment commitment from two prominent digital asset investment firms. GEM Digital Limited, based in The Bahamas, has pledged $10 million, while Alpha Token Capital (ATC) has invested $3 million in Chainge’s mission to change the long tail exchange market.

The substantial investment serves as a resounding endorsement of Chainge’s vision to empower users with seamless access to digital assets across multiple chains. With a dedicated focus on breaking down barriers in the digital asset space, Chainge aims to provide users with the tools necessary to navigate the complexities of blockchain technology effortlessly.

Chainge’s leadership and vision 

Under the guidance of esteemed board members Najam Kidwai, Mike Lempress, and Dejun Qian, Chainge is set to disrupt the long tail exchange market. The platform’s mission is to redefine standards in cross-chain trading, capturing emerging opportunities in the rapidly evolving digital asset landscape. Chainge’s leadership team brings a wealth of expertise to guide the platform’s disruptive journey.

You might also like: Solana gains momentum following Solana-Bitcoin cross-chain announcement

Achievements and infrastructure 

Chainge boasts an impressive track record and robust infrastructure:

Full-fledged 2-product suite, both mobile and web-based

Robust DCRM bridge infrastructure

Secure cross-chain transactions across 55 blockchains

Surpassed $1 billion in cumulative trading volume

These achievements demonstrate Chainge’s commitment to crafting a future where AI-powered cross-chain trading is efficient, secure, and accessible to all.

About the investors 

GEM Digital Limited, part of The Global Emerging Markets Group (GEM), a $3.4 billion alternative investment group, actively sources, structures, and invests in utility tokens listed on over 30 centralized and decentralized exchanges globally. Their investment in Chainge highlights their confidence in the platform’s potential to shape the future of cross-chain trading.

Alpha Token Capital (ATC), a specialized token fund, is dedicated to elevating the intrinsic value of promising token projects across various markets. With notable investments in tokens such as OPUL, Map Protocol, VELA exchange, FRONT Frontier, and Vulcan Forged, ATC’s support for Chainge further solidifies the platform’s position in the cryptocurrency ecosystem.

Future outlook 

As Chainge moves forward with this significant investment, the platform is poised to accelerate its growth and expand its reach in the cross-chain trading market. With a vision to make AI-powered cross-chain trading efficient, secure, and accessible to all, Chainge is set to play a pivotal role in shaping the future of the digital asset landscape.

The $13 million investment from GEM Digital and Alpha Token Capital marks a crucial milestone in Chainge’s journey, enabling the platform to further develop its infrastructure, expand its offerings, and solidify its position as a leader in the cross-chain trading space.

Read more: Chainge Finance Proposes Full Decentralization of Celsius; Offers to Buy Qualifying Assets

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Caitlyn Jenner Falls Victim to Cryptocurrency Exit ScamProminent media personality Caitlyn Jenner was allegedly socially engineered to promote a scam coin, called JENNER, which experienced a significant drop in value shortly after its launch.  The incident triggered multiple reactions from crypto proponents, with speculation that the former Olympic gold medal winner had been hacked. However, according to a disclosure by crypto community figure Roxo, Jenner’s account was not compromised but manipulated by a middleman named Sahil.  if anyone wants the TLDR on the @Caitlyn_Jenner situation here it isShe was never hacked, Her team was socially engineered by a guy named Sahil.He was the "middleman" and his role was to launch the token for Caitlyn as the team didn't know anything about crypto.after… pic.twitter.com/yZloKHlon6 — Roxo (@CryptoRoxo) May 27, 2024 The initial tweet shared from Jenner’s X account endorsing the meme coin included a photo showing Jenner alongside former U.S. President and Republican candidate Donald Trump. Jenner’s X handle on Sunday afternoon posted the link to the meme token with the caption, “Let’s all win together!! Send me some of your favorite memecoins here.” Following the launch of the token, the developer sold all holdings, causing concerns among investors. X user @0xPonga reported that the token, launched on pump.fun — a Solana-based platform for creating and trading meme coins — briefly surged to $20 million in market cap. This was after concerns of it being a rug pull were addressed by Jenner’s manager Sophia. You might also like: Pepe soars to new all-time high, surges 98.8% in a month 《 The Wild Ride of the $Jenner Token Scandal 》Here’s a summary of what happened:• Initial Discovery: The @Caitlyn_Jenner account, with 3.3M followers, launched the $Jenner token on https://t.co/GAYhTsQKW5.• Twitter Hacking Concerns: The same night, GCR's Twitter was… pic.twitter.com/nsDtffxslA — Ponga (@0xPonga) May 27, 2024 It was further revealed that the wallet address linked to the token had been previously involved in an incident where the account belonging to adult content creator Kazumi was hacked, who had days prior promoted a different token ZUMI. The X account at press time is still actively promoting the token. The developer responsible for the social engineering had in previous times run five successful rug pulls, promoted by influencers. Amid the uncertainties, the token experienced an astonishing 28,000% surge in just one day. Data from DEX Screener shows that JENNER has now reached a market capitalization of $18 million, marking a significant milestone in its journey in the cryptocurrency market. A similar incident was reported by crypto.news, involving the URF meme coin where the team executed a rug pull, vanishing with 2,400 SOL obtained during the coin’s presale. The meme token’s team on the Solana blockchain reportedly withdrew approximately $450,000 worth of Solana (SOL), according to on-chain researcher ZachXBT. Read more: Standard Chartered: XRP ETF next

Caitlyn Jenner Falls Victim to Cryptocurrency Exit Scam

Prominent media personality Caitlyn Jenner was allegedly socially engineered to promote a scam coin, called JENNER, which experienced a significant drop in value shortly after its launch. 

The incident triggered multiple reactions from crypto proponents, with speculation that the former Olympic gold medal winner had been hacked. However, according to a disclosure by crypto community figure Roxo, Jenner’s account was not compromised but manipulated by a middleman named Sahil. 

if anyone wants the TLDR on the @Caitlyn_Jenner situation here it isShe was never hacked, Her team was socially engineered by a guy named Sahil.He was the "middleman" and his role was to launch the token for Caitlyn as the team didn't know anything about crypto.after… pic.twitter.com/yZloKHlon6

— Roxo (@CryptoRoxo) May 27, 2024

The initial tweet shared from Jenner’s X account endorsing the meme coin included a photo showing Jenner alongside former U.S. President and Republican candidate Donald Trump.

Jenner’s X handle on Sunday afternoon posted the link to the meme token with the caption, “Let’s all win together!! Send me some of your favorite memecoins here.”

Following the launch of the token, the developer sold all holdings, causing concerns among investors. X user @0xPonga reported that the token, launched on pump.fun — a Solana-based platform for creating and trading meme coins — briefly surged to $20 million in market cap. This was after concerns of it being a rug pull were addressed by Jenner’s manager Sophia.

You might also like: Pepe soars to new all-time high, surges 98.8% in a month

《 The Wild Ride of the $Jenner Token Scandal 》Here’s a summary of what happened:• Initial Discovery: The @Caitlyn_Jenner account, with 3.3M followers, launched the $Jenner token on https://t.co/GAYhTsQKW5.• Twitter Hacking Concerns: The same night, GCR's Twitter was… pic.twitter.com/nsDtffxslA

— Ponga (@0xPonga) May 27, 2024

It was further revealed that the wallet address linked to the token had been previously involved in an incident where the account belonging to adult content creator Kazumi was hacked, who had days prior promoted a different token ZUMI.

The X account at press time is still actively promoting the token. The developer responsible for the social engineering had in previous times run five successful rug pulls, promoted by influencers.

Amid the uncertainties, the token experienced an astonishing 28,000% surge in just one day. Data from DEX Screener shows that JENNER has now reached a market capitalization of $18 million, marking a significant milestone in its journey in the cryptocurrency market.

A similar incident was reported by crypto.news, involving the URF meme coin where the team executed a rug pull, vanishing with 2,400 SOL obtained during the coin’s presale.

The meme token’s team on the Solana blockchain reportedly withdrew approximately $450,000 worth of Solana (SOL), according to on-chain researcher ZachXBT.

Read more: Standard Chartered: XRP ETF next
Crypto Trader GCR Alleges Bribe At X Led to Account HackPseudonymous crypto trader GCR revealed that his X account was hacked through a bribe, leading to an ORDI pump-and-dump scheme. On May 26, the X account of pseudonymous cryptocurrency trader GCR (Gigantic Rebirth) was hacked, with attackers allegedly leveraging a bribe to promote two tokens on crypto exchanges. Appears someone was bribed at https://t.co/ZZQS3JW0K7Was notified 2 months ago by someone affiliated with twitter that bribes were had been made to get access to my account, and beefed up security thenBut there can't be any security if X employees take money for admin access… — GCR (@GiganticRebirth) May 26, 2024 You might also like: NEAR Protocol’s X account hacked, here’s what we know so far GCR, a prominent figure in the cryptocurrency community, alerted his followers to the breach via an X post on another account, saying the bad actors took control of his original account and used it to shill ORDI, a BRC-20 token associated with the Ordinals protocol on the Bitcoin blockchain, and LUNA2, a token aimed to rescue the Terra Luna ecosystem following the collapse of the UST stablecoin in May 2022. “Was notified 2 months ago by someone affiliated with twitter that bribes were had been made to get access to my account, and beefed up security then. But there can’t be any security if X employees take money for admin access.” GCR Shortly after the hacked account posted about ORDI, the token’s price on Bybit soared from $38 to $46 before nosediving back to $40 within minutes. Investigation of @GCRClassic hacker reveal will be posted in next 12-24 hrs. pic.twitter.com/EElO5kEDkf — ZachXBT (@zachxbt) May 26, 2024 While the identity of the hacker remains unclear as of press time, blockchain sleuth ZachXBT noted on his X account that the hacker’s identity might be revealed within 12-24 hours, adding that the hacker “messed up and washed their funds poorly,” making it possible to track them through centralized exchanges. Multiple reports indicate that the hacker allegedly opened large positions on various centralized exchanges prior to GCR’s account hack, potentially revealing their identity. Read more: Spider-Man star Tom Holland’s X account hacked to push crypto scam

Crypto Trader GCR Alleges Bribe At X Led to Account Hack

Pseudonymous crypto trader GCR revealed that his X account was hacked through a bribe, leading to an ORDI pump-and-dump scheme.

On May 26, the X account of pseudonymous cryptocurrency trader GCR (Gigantic Rebirth) was hacked, with attackers allegedly leveraging a bribe to promote two tokens on crypto exchanges.

Appears someone was bribed at https://t.co/ZZQS3JW0K7Was notified 2 months ago by someone affiliated with twitter that bribes were had been made to get access to my account, and beefed up security thenBut there can't be any security if X employees take money for admin access…

— GCR (@GiganticRebirth) May 26, 2024

You might also like: NEAR Protocol’s X account hacked, here’s what we know so far

GCR, a prominent figure in the cryptocurrency community, alerted his followers to the breach via an X post on another account, saying the bad actors took control of his original account and used it to shill ORDI, a BRC-20 token associated with the Ordinals protocol on the Bitcoin blockchain, and LUNA2, a token aimed to rescue the Terra Luna ecosystem following the collapse of the UST stablecoin in May 2022.

“Was notified 2 months ago by someone affiliated with twitter that bribes were had been made to get access to my account, and beefed up security then. But there can’t be any security if X employees take money for admin access.”

GCR

Shortly after the hacked account posted about ORDI, the token’s price on Bybit soared from $38 to $46 before nosediving back to $40 within minutes.

Investigation of @GCRClassic hacker reveal will be posted in next 12-24 hrs. pic.twitter.com/EElO5kEDkf

— ZachXBT (@zachxbt) May 26, 2024

While the identity of the hacker remains unclear as of press time, blockchain sleuth ZachXBT noted on his X account that the hacker’s identity might be revealed within 12-24 hours, adding that the hacker “messed up and washed their funds poorly,” making it possible to track them through centralized exchanges.

Multiple reports indicate that the hacker allegedly opened large positions on various centralized exchanges prior to GCR’s account hack, potentially revealing their identity.

Read more: Spider-Man star Tom Holland’s X account hacked to push crypto scam
JasmyCoin Emerges As Top Gainer Amid Increased Whale ActivityJasmyCoin (JASMY) has emerged as the top gainer among the leading 100 cryptocurrencies, capitalizing on the rally triggered by the approval of spot Ethereum (ETH) ETFs in the U.S. JASMY is up by 26% in the past 24 hours and is trading at $0.028 at the time of writing. This is the first time since April 2022 that JasmyCoin has reached this price point. However, the so-called Japan’s Bitcoin is still down by 99.44% from its all-time high of $4.99 on Feb. 16, 2021. JASMY price, whale activity, RSI and dormant circulation – May 27 | Source: Santiment Moreover, the daily trading volume of JASMY increased by 600%, reaching $422 million. The asset’s market cap is getting close to the $1.4 billion mark, making it the 69th-largest cryptocurrency at the reporting time. JASMY is the native token of the Japanese Internet of Things (IoT) provider, Jasmy Corporation. The platform aims to combine the decentralization of the blockchain technology with IoT so that users can transform their digital information into digital assets. The project was founded by Kunitake Ando (former COO at Sony Corporation), Kazumasa Sato (former CEO of Sony Style.com Japan Inc.), Hiroshi Harada (executive financial analyst at KPMG) and other C-suite executives from Japan. You might also like: Normie plummets almost 100% following exploit as Trump meme coins surge JasmyCoin’s price rally comes as the broader crypto market is witnessing bullish momentum after the approval of the long-awaited spot ETH ETFs. According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of JASMY increased by more than eight times over the past 24 hours — rising from four to 37 unique transactions per day. The increased whale activity could hint at high price volatility and big price movements would be expected due to investors taking short-term profits, or even a mass selloff. Per data from the market intelligence platform, the JASMY dormant circulation for 365 days surged from 3.4 million to 24.28 million tokens. This could show that some investors are already getting prepared for profit-taking. In addition, the JASMY Relative Strength Index (RSI) is currently sitting at the 82 mark, according to Santiment. The indicator shows the asset is overvalued at this price point.  For JASMY to remain in the bullish zone, its RSI would need to cool down below the 50 mark. Read more: Standard Chartered: XRP ETF next

JasmyCoin Emerges As Top Gainer Amid Increased Whale Activity

JasmyCoin (JASMY) has emerged as the top gainer among the leading 100 cryptocurrencies, capitalizing on the rally triggered by the approval of spot Ethereum (ETH) ETFs in the U.S.

JASMY is up by 26% in the past 24 hours and is trading at $0.028 at the time of writing. This is the first time since April 2022 that JasmyCoin has reached this price point. However, the so-called Japan’s Bitcoin is still down by 99.44% from its all-time high of $4.99 on Feb. 16, 2021.

JASMY price, whale activity, RSI and dormant circulation – May 27 | Source: Santiment

Moreover, the daily trading volume of JASMY increased by 600%, reaching $422 million. The asset’s market cap is getting close to the $1.4 billion mark, making it the 69th-largest cryptocurrency at the reporting time.

JASMY is the native token of the Japanese Internet of Things (IoT) provider, Jasmy Corporation. The platform aims to combine the decentralization of the blockchain technology with IoT so that users can transform their digital information into digital assets.

The project was founded by Kunitake Ando (former COO at Sony Corporation), Kazumasa Sato (former CEO of Sony Style.com Japan Inc.), Hiroshi Harada (executive financial analyst at KPMG) and other C-suite executives from Japan.

You might also like: Normie plummets almost 100% following exploit as Trump meme coins surge

JasmyCoin’s price rally comes as the broader crypto market is witnessing bullish momentum after the approval of the long-awaited spot ETH ETFs.

According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of JASMY increased by more than eight times over the past 24 hours — rising from four to 37 unique transactions per day.

The increased whale activity could hint at high price volatility and big price movements would be expected due to investors taking short-term profits, or even a mass selloff.

Per data from the market intelligence platform, the JASMY dormant circulation for 365 days surged from 3.4 million to 24.28 million tokens. This could show that some investors are already getting prepared for profit-taking.

In addition, the JASMY Relative Strength Index (RSI) is currently sitting at the 82 mark, according to Santiment. The indicator shows the asset is overvalued at this price point. 

For JASMY to remain in the bullish zone, its RSI would need to cool down below the 50 mark.

Read more: Standard Chartered: XRP ETF next