Crypto Bubble

Donald Trump Reaffirms Support for Crypto at Fundraiser Event — Report 👀 Former U.S. President Donald Trump is emphasizing his support for cryptocurrency as part of his 2024 presidential campaign, aiming to become the "crypto president." At a fundraising event in San Francisco, hosted by David Sacks and Chamath Palihapitiya, Trump raised $12 million. He reiterated his support for crypto, contrasting it with the Democratic Party's regulatory approach.

OKX admits testing ‘collection program’ as Bitcoin fees skyrocket 👌 OKX has acknowledged testing a new program on Bitcoin’s network, leading to the average transaction fee soaring to more than $50 per transfer. According to data from mempool.space, the average transasction fee on the Bitcoin network surged to as much as $52 on Friday, requiring over 5.4 BTC (around $400,000) in fees to be paid to miners to generate a single block in the Bitcoin network. Crypto exchange OKX appears to be responsible for the abnormal spike in transactional fees on the Bitcoin network

Nigeria Defends Prosecution of Binance Executive Amid Criticism from US Lawmakers 👀 The Nigerian government is following due process in the trial against Binance and executive Tigran Gambaryan for illegal cryptocurrency trading. Minister Mohammed Idris confirmed the proceedings adhere to Nigerian law. The next hearing is on June 20, 2024. U.S. lawmakers have urged President Biden to expedite Gambaryan's release, citing his three-month detention in Nigeria.

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Tether Invests $18.75M in XREX Group to Boost Digital Asset Innovation and Cross-Border Payments 👀 Tether has invested $18.75M in XREX Group to facilitate USDT-based cross-border payments in emerging markets and innovate regulatory technology. XREX will also launch XAU1, a USD-pegged stablecoin backed by Tether Gold. This collaboration aims to enhance financial inclusion and regulatory compliance, supporting Tether's vision of resilient financial infrastructure.

Polygon Labs acquires ZK builder Toposware for unified web3 💎 Ethereum ecosystem contributor Polygon Labs increased its zero-knowledge investment to $1 billion with its acquisition of the startup Toposware. Polygon Labs, the entity behind MATIC’s ecosystem, has added the $30 million-valued blockchain builder Toposware to its zero-knowledge (ZK) development arsenal. Zero-knowledge is a cryptographic technology that allows blockchains to confirm transactions without exposing details about the senders or receivers. The firm has become a frequent employer of the proof system for scaling its Ethereum-based layer-2 networks. The acquisition onboards Toposware’s 11 engineers and development stack for what the MATIC developer describes as a “unified web3” vision. It’s the third punt on ZK tech after buying Hermez and Mir back in 2021.

Hackers Use Chrome Plugin to Steal Millions from Binance Accounts ❤️ A Chinese trader lost $1 million to a hacking scam involving a promotional Google Chrome plugin called Aggr, which steals cookies to bypass security and access Binance accounts. The trader, known as CryptoNakamao on X, reported that on May 24, their Binance account began trading randomly, and by the time they noticed, the hacker had withdrawn all funds.

El Salvador's Pro-Bitcoin President Bukele Wins Second Term El Salvador’s pro-Bitcoin President Nayib Bukele has been sworn in for another five-year term after a landslide victory in February, generating excitement in the crypto industry. Crypto commentator Cory Bates and media guru Pete Rizzo praised Bukele's positive stance on Bitcoin and his leadership.

Nexgami Hosting IDO on Multiple Launchpads 🔥 Nexgami announces its native Token $NEXG IDO on SeaPad, BRCStarter, GameFi, EnjinStarter and Startup on Gate.io. The IDO timeline is 30 May to 3 Jun, with IDO price of $0.05 per Token, Initial MCap of $1.5 million and Total Suppy of 1 billion $NEXG. $NEXG IDO is refundable. NexGami is a Web3 gaming platform merging traditional gaming with the Web3 ecosystem. It offers game incubation, financing, token issuance, IDOs, CEX listings, and market-making strategies. Service fees are distributed as dividends to NexGami token holders. Key features include game listings, a Launchpad, e-sports, live streaming, and Token/NFT trading markets.