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A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.

USBTC Signs Multi-Year Hosting Deals for Bitcoin Mining Expansion

United States Bitcoin Corp (USBTC) has inked extensive multi-year contracts to accommodate 150,000 bitcoin mining rigs, among notable companies such as Marathon Digital Holdings (MARA).

> These agreements reflect the evident recovery of the mining sector, which is striving to bounce back after a challenging 2022.

> The crypto slump last year led to a host of significant miners filing for bankruptcy, Compute North included, which originally managed the three USBTC locations.

> The trio of bitcoin mining facilities is strategically located in Kearny, Nebraska, and both Granbury and Upton County in Texas.

> The stakes in two of these sites - one each in Nebraska and Texas - previously held by Compute North, were bought by energy investment firm Generate Capital. Details here.

Lagrange Labs Raises $4M for Zero-Knowledge Blockchain Interoperability

Lagrange Labs, a zero-knowledge startup, has announced a pre-seed funding round of $4 million to boost its proprietary zero-knowledge proof system.

> The round, led by 1kx, included Maven11, Lattice Fund, CMT Digital, and Daedalus Angels, among others.

> The firm aims to solve the long-standing issue of blockchain interoperability, permitting developers to build decentralized applications (dApps) that can access multiple blockchains at once.

> "Modern DeFi applications require more sophisticated relationships between data on different blockchains, and were excited to see how our technology can unlock new multi-chain DeFi primitives," said Ismael Hishon-Rezaizadeh, Founder and CEO of Lagrange Labs.

> Zero-knowledge-proof technology is gaining traction as a viable solution to scalability issues in the Ethereum ecosystem. Continue here.

Binance Australia Halts Key Services Amid Regulatory Scrutiny: An In-depth Analysis

Binance Australia has announced a halt to certain Australian dollar deposit services due to an external payment provider's decision.

> It also alerted customers to expect a disruption in bank transfer withdrawals, though the extent of the impact is yet to be determined.

> In a statement on social media on Thursday, Binance Australia informed its users that it would no longer be supporting PayID deposits.

> The company stated, "We are working tirelessly to secure an alternative provider to continue offering AUD deposits and withdrawals to our users.

> The suspension of these services comes just a month after the Australian Securities and Investments Commission withdrew Binances license for its derivatives operations in the country. Details here.

Pakistan's Unyielding Stance on Cryptocurrency Amid Rising Popularity

Pakistan's official approach towards cryptocurrencies is becoming increasingly strict, despite the continued enthusiasm from its citizens who seek a hedge against the depreciating national currency amid the country's volatile political climate.

> During a meeting with the Senate Standing Committee on Finance, Aisha Ghaus Pasha, Pakistan's Minister of State for Finance and Revenue, reinforced the government's position against the digital currency phenomenon.

> As reported by local media, Pasha was quoted stating categorically that cryptocurrencies will "never be legalized in Pakistan".

> According to Pasha, the stringent stance is driven by stipulations imposed by the Financial Action Task Force (FATF), an international finance watchdog.

> By refraining from legalizing cryptocurrencies, Pakistan aims to avoid the FATF's infamous "Grey List". Continue here.

Coinbase One Expands to Europe: A New Era in Zero-Fee Crypto Trading

Coinbase, a prominent cryptocurrency exchange, has decided to broaden the reach of its subscription-based product, Coinbase One, to encompass the United Kingdom, Germany, and Ireland.

> The product, priced at a monthly fee of $29.99, offers its subscribers the benefit of trading with no fees, elevated staking rewards, access to crypto data services, and 24/7 customer support.

> The decision to extend the products availability stems from the exchange's strategy to secure a steady stream of income in contrast to the inconsistent revenue associated with unpredictable cryptocurrency markets.

> Remarkably, Coinbases subscription and services revenue saw an impressive increase, doubling to $362 million in the first quarter of 2023 compared to the same timeframe in the previous year. More here.

Visa Explores Ethereum's Potential: An Experiment in Fee-less Payments

Visa, the multinational payments titan, is further exploring Ethereum blockchain technology, executing smart contracts designed for feeless payments on Goerli, Ethereum's test network.

> The company is utilizing a feature known as account abstraction, which enhances the functionality of user accounts and enables wallets to independently carry out intricate tasks and manage transaction fees for other accounts.

The company unveiled two separate "Paymaster" smart contracts, providing a comprehensive account of their experiments in a report.

> The main goal of these contracts is to streamline user engagement with the Ethereum network, eradicating the necessity for users to possess ether (ETH), Ethereum's native cryptocurrency, for covering transaction or gas fees or enabling users to pay using any token of their choice. More here.

Bitcoin Tumbles Below $27K: Impact of Debt Ceiling Talks & Regulatory Moves

A significant drop in Bitcoin's value under the $27,000 benchmark has been observed as the crypto market reacts to ongoing debt ceiling negotiations in the U.S. capital and the latest updates in cryptocurrency regulations.

> As per the latest data from CoinDesk, Bitcoin, the leading cryptocurrency in terms of market value, has witnessed a decrease of 2.1% over the last 24 hours and is currently valued at approximately $26,700.

> Bitcoin showed signs of recovery earlier in the day when it almost reached $27,500. However, a sudden downturn in the afternoon dragged its value down to almost $26,400.

> Ethereum, the runner-up in the crypto market in terms of market cap, mirrored this trend. The value of Ether depreciated by 1.6% and was trading around $1,795 as of Thursday afternoon.

> Reflecting these changes, the CoinDesk Market Index (CMI), which provides a measure of the general performance of the cryptocurrency market, recorded a 2.2% decrease on Thursday.

Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.

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Cryptocurrency roundup for May 19: USBTC and Major Companies Sign Deal to Boost Bitcoin Mining and more - Moneycontrol

Crypto crime has become a major concern to regulatory authorities. There have been sharp increases in crypto crime, especially hacks related to fraud, in recent years as Web3 becomes an integral part of daily life. But the spread is not even and there are many emerging trends and patterns to crypto crime, which can be best understood through deep blockchain analytics.

Hacks on Ethereum (or dApps built on Ethereum) are rampant because of its smart contract capabilities and wide-scale dApp usage. Last year, the Ethereum-based Ronin network was hacked for $625 million.

Ethereum currently has ten times more transaction volume than the second blockchain (Tron), with nearly 70% of the market. DeFi fraudsters often target cross-chain bridges when tokens are being transferred from one chain to another, and these bridges are typically built on the Ethereum network. Binance and Ethereum have the most unique active wallet (UAW) addresses, as gauged from January 2022 to January 2023.

A crypto-crime report from Crystal Blockchain outlined some of the statistics regarding the theft of digital tokens, highlighting that China and the USA are the worst hit by fraud and hacks. The US takes the top spot for the total number of incidents against entities, with 14 major attacks since 2011.

However, China is the worst affected in terms of overall value. This is due to two prominent hacks, PlusToken in 2019 ($2.25 Billion) and WoToken in 2020 ($1 Billion). The UK, South Korea, and Japan are also heavily affected by crypto scams. Since 2011, there have been 461 high-profile incidents across 45 countries, for a total of $16.7 billion in stolen crypto, mainly ERC-20 tokens.

The top five areas for security breaches related to crypto are the USA, China, Japan, South Korea, and the UK.

There were many exchanges in China in the early days of cryptocurrency before the government cracked down on it. Binance, one of the worlds largest exchanges, moved from China following the government ban on trading in 2017. Huboi, another Chinese exchange, moved its headquarters to South Korea.

The USA has also experienced high levels of crypto fraud. A lot of token offerings launched in the USA were later revealed to be in violation of the Securities and Exchange Commission (SEC) rules for selling securities. While some had good intentions and simply fell foul of unclear regulations, many were outright Ponzi schemes.

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Mainly, cybercriminals will follow the money, and exploit any opportunities. It makes sense then, that regions where there are more centralized exchanges will be targeted more frequently. Where there are strict rules about the movement of money, more people will turn to crypto, which could potentially result in more incidents of fraud.

There are many ways that cybercriminals can conduct a fraud operation. One of the most common is the rug pull. This is where a team of fraudsters entices investors into a specific project and runs off with the funds. They are basically scam projects.

There are also various subcategories of rug pulls. For instance, a pump-and-dump scheme is where investors are encouraged to invest in a specific token, and then the fraudsters sell it all, reducing the price to nothing. This can be enormously profitable if the fraudsters also put options on the token or use different mechanisms to leverage the price decrease.

Developers can also defraud investors by coding tokens so they can only be sold by them. Rug pulls are not always illegal in the sense that initial investors have a right to sell at any time. But if claims are made to investors that turn out to be completely false, then legal authorities could easily launch an investigation.

According to the same Crystal Blockchain report, most crime occurs through decentralized protocols involving smart contracts. In 2022, over USD $2.6 billion was lost through 132 DeFi attacks. $277 million was lost due to security breaches in 13 instances, while $1.3 billion was lost in fraud schemes. The report also noted that rug pulls were the most popular fraud mechanism in 2022 and that Ethereum is the most popular chain for rug pulls, followed by BNB.

The prevention of crypto fraud is an ongoing issue that will require cooperation between regulatory authorities and Web3 developers, and exchanges. Investors continue to get duped by simple methods and are not conducting due diligence to investigate projects, typically being too easily misled in the hope of enormous profits. With AI and other technologies, fraud will get even more sophisticated as time goes by.

Exchanges and Web3 providers will also need to have an in-house compliance team alongside risk mitigation procedures to ensure customers funds are safe, secure, and insured. Blockchain analytics can go a long way to understanding the path through which stolen crypto travels and how to prevent a breach from occurring in the first place.

The post Why Most Cryptocurrency Fraud Cases Take Place in China and the US appeared first on Coin Edition.

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Why Most Cryptocurrency Fraud Cases Take Place in China and the ... - Investing.com

If you are interested in exploring the realm of cryptocurrency trading, it is worth noting that the Dubai has swiftly evolved into a thriving center for digital currencies. However, the intricacies of the underlying technology can appear intimidating, particularly for newcomers to the concept.

Yet, there is no need to worry. With proper guidance and a strong foundational understanding, you can confidently navigate this dynamic market. This comprehensive guide aims to equip you with the necessary steps to initiate your journey, enabling you to trade cryptocurrencies with ease and assurance in Dubai. Together, let us embark on this enriching expedition and unlock the potential of digital assets!

Thats why its important to take the time to understand how cryptocurrency works, what exchanges there are in Dubai, and how to safely use them. In this article, well share all the facts about cryptocurrency exchanges and give you some tips on how to make sure that your trading is secure. From understanding the different types of exchanges available to knowing which ones are best for traders in Dubai, by following these simple steps you can rest assured that your trades will be safe and successful.

Dubai is quickly becoming a global hub for cryptocurrency trading. The city has a number of factors that make it an attractive place to trade cryptocurrencies, including:

Favorable business environment: Dubai has a very favorable business environment, with low taxes, a strong legal system, and a skilled workforce. This makes it an attractive place to set up a business, including a cryptocurrency trading business.

Growing cryptocurrency market: Dubai is one of the fastest-growing cryptocurrency markets in the world. This is due to a number of factors, including the governments support for the industry, the large number of international investors in Dubai, and the growing popularity of cryptocurrency among the local population.

Regulatory clarity: The Dubai government has taken a clear stance in favor of cryptocurrency, and has issued a number of regulations to govern the industry. This provides investors with confidence that the industry is regulated and that their investments are safe.

Access to global markets: Dubai is a major international trading hub, and this gives cryptocurrency traders access to a global market. This means that traders can trade cryptocurrencies with people all over the world, and can take advantage of different market conditions.

If youre looking to buy or sell cryptocurrency in Dubai, the first thing youll need to do is find a reliable cryptocurrency exchange. Finding the right one for your needs is crucial for successful trading, as many exchanges are only available in certain countries and have different rules regarding things such as registration requirements and transaction fees.

Fortunately, there are a few exchanges which are popular among Dubai traders and provide the security, liquidity, and trading fees that you need to make successful transactions. Heres a look at the top three:

Also Read: Find Your Match : Tips to Pick the Best Crypto Trading Platform

When you sell cryptocurrency in Dubai, its important to make sure your transactions are secure and safe. One of the best ways to do this is to use a reputable cryptocurrency exchange.

However, with so many exchanges available, its important to understand some key security best practices that should be followed when using an exchange. Here are some tips to keep in mind:

Following these tips will help ensure that when you sell cryptocurrency in Dubai, your transactions are secure and private.

When it comes to selling cryptocurrency in Dubai, youll want to make sure you are safely storing it on an exchange. After all, there have been incidents where people have lost money when their digital wallets have been hacked or stolen.

Cryptocurrency exchanges are secure and offer multiple layers of protection to make sure your cryptocurrency is safe from theft and unauthorized access. Here are some of the features that make them a secure option for storing your cryptocurrency:

Encrypted Wallets:

Exchanges use encrypted wallets, which means that all your information is encrypted and cant be accessed by anyone without the encryption key. That way, even if someone were to gain access to your account, they wouldnt be able to open it or see whats inside.

Multi-Factor Authentication

Most cryptocurrency exchanges require multi-factor authentication so that only you can access your account. This usually involves confirming your identity with a code sent to your phone or email address.

Cold Storage

Cryptocurrency exchanges also use cold storage wallets to store digital assets securely offline in order to protect them from hackers and cyber criminals. All transactions go through these cold storage wallets before they are sent out into the network, making them much harder for hackers to target.

All in all, when it comes to selling cryptocurrency in Dubai, you can feel confident knowing that cryptocurrency exchanges offer a secure way to store your cryptocurrency and protect it from any potential threats.

Also Read: Multisig Wallet: The Future of Secure Crypto Transactions

Do your research: Before you start trading cryptocurrency, it is important to do your research and understand the risks involved. Cryptocurrency is a volatile asset, and prices can fluctuate wildly. It is important to understand the risks before you invest any money.

Use a reputable exchange: When you are ready to start trading cryptocurrency, it is important to use a reputable exchange. There are many exchanges available, and not all of them are created equal. Some exchanges are more secure than others, and some have better customer service. It is important to do your research and choose an exchange that you trust.

Start small: When you are first starting out, it is a good idea to start small. Dont invest more money than you can afford to lose. Cryptocurrency is a new and volatile asset, and it is important to be cautious when you are first starting out.

Be patient: Cryptocurrency is a long-term investment. Dont expect to get rich quick. It takes time to build wealth through cryptocurrency investing. Be patient and stay focused on your goals.

Conclusion:

Cryptocurrency exchanges are a great way to sell and buy cryptocurrency in Dubai. But its important to be aware of the risks involved and to make sure that you use a secure, reputable exchange. With the right precautions, you can rest assured that the money you make from cryptocurrency exchange transactions will be secure and can be transferred to your bank account safely.

Remember: safety should always be the top priority when youre dealing with cryptocurrency exchanges. Make sure you research and choose the best exchange for you and take the necessary measures to ensure that your funds are safe and that you can track each transaction and withdrawal. With these precautions in place, you can maximize your profits and enjoy the benefits of trading cryptocurrency in Dubai.

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How to Safely Use Cryptocurrency Exchanges in Dubai - Crypto Times

Investing has always been an important tool for boosting financial success, especially as inflation increases, and it becomes harder for people around the world to make ends meet. By adopting even a beginner investment strategy, many have found a solution to stay ahead of rising costs and build their wealth over time. Now, with the introduction of the cryptocurrency market, some investors have shown just how life-changing a small investment can make, as larger fluctuations generate higher profits and 24/7 operation times pave the way to a level of flexibility and convenience for those that work a nine-to-five job.

Moreover, the barriers to entry are also reduced, as altcoins and fractional ownership enable people of all income levels to participate. With the potential for high returns, cryptocurrency investments can offer a new path to financial freedom and security. The decentralized nature of cryptocurrencies provides a sense of control over ones investments, allowing individuals to take ownership of their financial future.

With the continuous surge in growth, the number of individuals participating in the crypto market has surpassed 300 million, and some projections suggest that this figure could exceed 1 billion by 2030. However, many of these users are novice retail investors venturing into the crypto market for the first time. While they are trying to grasp the fundamentals of this market, their lack of experience can result in unfavorable outcomes. Despite the substantial expansion of the market over the past half-decade, most retail investors have incurred losses due to their limited understanding of the market.

To address this problem, comprehensive investment solutions are becoming necessary to help beginners understand the cryptocurrency market and reduce risks as much as possible. With the introduction of these tools, experts believe beginners will become comfortable with this market, and mainstream cryptocurrency adoption will ensue.

While the need for these solutions is clear, such investment tools, including index investing, are only available for the already knowledgeable investor. In contrast, these tools are readily available in traditional markets, where they are popular among users as accessible tools for financial planning. One of these examples is indexes.

Investing in indexes can be a smart strategy for those looking to minimize risk and maximize returns. Rather than buying individual stocks or assets, an index investment provides exposure to a basket of assets, spreading out risk across a diversified portfolio. This can be particularly beneficial for beginner investors who may not have the expertise or time to closely monitor and manage their investments. Additionally, investing in indexes has been shown to provide better long-term returns than active management funds or individual stock picking.

Leading organizations in the crypto space are now looking at different variations of an index, which may include features such as rebalancing and asset tracking that make it accessible to users in just a few clicks. With regular rebalancing, the composition of the index is periodically adjusted to reflect changes in the cryptocurrency market. These minor adjustments help to ensure that the index remains aligned with the overall market trends and can potentially improve returns by capturing gains in rising markets and minimizing losses in falling markets.

The second feature, asset tracking, is another important feature for a cryptocurrency index fund, as it allows investors to easily monitor the performance of their portfolio and make informed decisions about when to buy or sell assets. A good index fund may also provide access to detailed market analysis and research, helping investors to stay up-to-date on the developments in the cryptocurrency space. Competitive offerings will also need to include low fees, easy access through a user-friendly platform, and strong security measures to protect investors assets in alignment with traditional investment products.

One of the providers bringing a portfolio of useful features to life is JJO, an intuitive and user-friendly platform for investing in cryptocurrency. With JJO, investors can invest in a specially created cryptocurrency index based on the principles of the CSi30 index, launched in 2017. However, rather than taking the money in management, investments are made via the clients crypto exchange with the help of API keys. It is entirely up to the account user to select which connections they want to use from one of the top-10 crypto exchanges, including Binance, Coinbase and Huobi, among others.

Source: JJO

According to the JJO team, investing in indexes eliminates the risks of losing funds associated with purchasing one or more assets. Even the most successful investors stick to index investing, for example, Warren Buffett. For decades, indexes have been giving their investors revenue higher than 95% of traders and active management funds while relieving them from constant decision-making in the market.

J'JO has all the necessary licenses and registrations to operate globally, making the platform available in over 200 countries. In addition, the service has no hidden fees or interest from investors' profits. For users with deposits under $500, J'JO doesn't charge any fees and investors can use the platform with no limitations on functionality. If the deposit is over $500, it's possible to use the service for a subscription that costs only $14.99.

Whats more, JJO offers a user-friendly, intuitive interface that helps users invest in the specially created JJ035 cryptocurrency index in just five minutes. This index is based on the principles of the CSi30 index, launched in 2017. The index offers automatic rebalancing and asset tracking, available to all users in just a couple of clicks. This approach allows the regular user to enter a new environment, regardless of their level of experience, providing risk reduction through crypto asset diversification.

Source: JJO

Investing in cryptocurrencies is a new avenue for building wealth and achieving financial freedom. With its potential for high returns and 24/7 operation times, the cryptocurrency market has opened doors for investors of all income levels. However, with the risk of losses due to a lack of experience, comprehensive investment solutions are becoming necessary to help beginners understand the market and minimize risks. Investing in indexes is a smart strategy for minimizing risk and maximizing returns, and leading organizations in the crypto space are now looking at different variations of an index that provide accessible tools for financial planning.

JJO is one of the providers leading the charge in this direction, offering a user-friendly platform for investing in cryptocurrency. With low barriers to entry, a simple and intuitive interface, and licenses and registrations to operate globally, JJO provides investors with a smart and risk-minimizing alternative to investing in individual cryptocurrencies. As cryptocurrency adoption continues to grow, solutions like JJO will play a crucial role in helping investors achieve financial success and security in this exciting new market.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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New crypto index platform makes cryptocurrency investing easier for novices and professionals - Cointelegraph

POKMON meme coin - built on blockchain technology within Ethereums network, helps ensure secure & fast transactions for users, plus can be bought & sold on a variety of cryptocurrency exchanges

Singapore, Singapore --News Direct-- Prodigy Press Wire

POKMON, the newest meme cryptocurrency, is gaining popularity among fans and crypto enthusiasts. POKMON offers a fun and engaging way for fans of the popular franchise to invest and trade in a new digital asset.

The creators of POKMON designed the cryptocurrency to appeal to the growing market of meme enthusiasts and fans of the franchise. POKMON is a meme cryptocurrency that features colorful and playful graphics inspired by the iconic franchise's trademark style.

"We wanted to create a cryptocurrency that was not only fun and engaging, but also had real-world use cases," said the team behind POKMON. "Our goal is to provide a platform for fans to invest and trade in a unique and exciting way."

POKMON uses blockchain technology and is built on the Ethereum network, ensuring secure and fast transactions for its users. The token can be bought and sold on a variety of cryptocurrency exchanges and is designed to appeal to a wide audience, from casual fans to dedicated cryptocurrency traders.

As with most cryptocurrencies, the value of POKMON is subject to market fluctuations and speculation. However, the creators of POKMON believe that the token has the potential to become a popular and valuable asset in the cryptocurrency market.

"Were excited to see where POKMON goes from here," said the team. "We believe that it has the potential to be a top-performing cryptocurrency in the market and were excited to see fans and crypto enthusiasts alike engage with our platform."

To learn more about POKMON and how to invest or trade, visit the official website at https://pokmon.org/.

contact@pokmon.org

The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor) before investing or trading securities and cryptocurrency.

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POKMON's developers want to be clear that the brand "POKMON" referenced in the news release is not associated with or related to any other current brands. We want to ensure that readers know that "POKMON" exists as a distinct brand in its own right because we recognize that the resemblance could cause misunderstandings or incorrect associations.

Release ID: 583715

View source version on newsdirect.com: https://newsdirect.com/news/pokmon-the-latest-meme-cryptocurrency-thats-taking-the-crypto-world-by-storm-986486470

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POKMON: The Latest Meme Cryptocurrency Thats Taking the Crypto World by Storm - Yahoo Finance