Google Partners With Magic Leap to Bolster the Potential of Augmented Reality Technologies

One of the leaders in the augmented reality industry, Magic Leap, announced on May 30 that it had partnered with Google to enhance the potential of augmented reality technologies. This new collaboration aims to release unique product offerings while further expanding the longstanding relationship between the two companies.
Magic Leap’s Optics Expertise Combined With Google’s Technology Platforms
Magic Leap, an early pioneer in the Augmented Reality (AR) industry, recently entered into a strategic technology partnership with Google. This collaboration will see the two companies combine Magic Leap’s AR expertise and leadership in optics with Google’s technology platforms.
According to a statement, the new partnership aims to unveil unique product offerings. It also expands the long-standing relationship between the two companies.
Shahram Izadi, Vice President and General Manager of AR/XR at Google, expressed excitement about the collaboration. He said:
We look forward to bringing together Magic Leap’s leadership in optics and manufacturing with our technologies to bring a wider range of immersive experiences to market. By combining efforts, we can foster the future of the XR ecosystem with unique and innovative product offerings.
For her part, Julie Larson-Green, the Chief Technology Officer at Magic Leap, described the partnership as a step likely to accelerate what she called the transformative power of augmented reality (AR) by piggybacking on the two companies’ expertise. Larson-Green also revealed that Magic Leap is looking forward to “expanding the potential of extended reality (XR) – blending the physical world with valuable, contextually relevant solutions.”
As explained in the statement, Magic Leap has made groundbreaking advancements in the areas of text legibility, color fidelity, and rich visuals. These advancements have empowered it to create devices that run customized applications, boasting some of the highest computational performance capabilities among standalone AR products available in the market.
What are your thoughts on Magic Leap’s partnership with Google? Share your views in the comments section below. #Write2Earn

Ethereum Technical Analysis: Bulls Face Critical Resistance at $3,900

Ethereum’s price over the past hour has been $3,785 to $3,816, showing an intraday range between $3,746 and $3,837 in the last 24 hours. The crypto’s market capitalization today stands at $458 billion, with a 24-hour trade volume of $10.75 billion.
Ethereum
On the 1-hour chart, ethereum demonstrates strong support at $3,750 and resistance at $3,842. The recent spike in volume corresponding with a significant upswing indicates strong buying interest. Ether’s price oscillation between $3,750 and $3,840, followed by a slight pullback from the resistance at $3,842.5, suggests a potential retracement.

The 4-hour chart reveals broader support at $3,700 and resistance at $3,885. Lower trading activity is indicated by relatively lower volume compared to the 1-hour chart. The price has shown an upward movement from the support at $3,700 to the resistance at $3,885, with consolidation around the $3,800-$3,840 range.

On the daily chart, ethereum shows a strong support level at $2,813 and resistance at $3,980. Volume spikes during significant price movements highlight the rally from the support at $2,813.4. The overall trend has been bullish, with a notable uptrend from $2,813 to around $3,980. The recent consolidation below $3,980 suggests the potential for either continuation or reversal.
Oscillators present a mixed yet slightly bullish picture. The relative strength index (RSI) at 64.9 and the Stochastic at 75.0 both indicate neutral conditions, while the commodity channel index (CCI) at 52.2 and the average directional index at 41.7 also remain neutral. However, the momentum at 85.7 and the moving average convergence divergence (MACD) level at 170.2 both suggest a bullish signal, indicating positive momentum and potential for further price increases.
All moving averages (MAs) signal optimism, supporting the bullish trend. The exponential moving average (EMA-10) at $3,752 and the simple moving average (SMA-10) at $3,797 both support short-term bullish sentiment. Similarly, the EMAs (20, 30, 50, 100, 200) and the SMAs (20, 30, 50, 100, 200) consistently indicate buy signals across different time frames, further reinforcing the positive outlook for ethereum.
Bull Verdict:
Based on the technical analysis, ethereum demonstrates a strong bullish trend supported by critical moving averages and key support and resistance levels. Positive momentum indicated by the MACD and momentum oscillators, along with buy signals across all MAs, suggests potential for continued upward movement. Strategic entry and exit points aligned with volume analysis further enhance the bullish outlook for ethereum.
Bear Verdict:
Despite the overall bullish indicators, caution is warranted due to the neutral readings from several oscillators and the recent consolidation below key resistance levels. If bearish downturns or volume decreases appear near resistance levels, it could indicate a potential retracement. Monitoring these signals and setting stop-losses is advisable to mitigate downside risk.
What do you think about ether’s market action on Monday? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Mexican Billionaire Ricardo Salinas Urges Followers to Buy Bitcoin as Nigerian Naira Falls Under a Satoshi

Ricardo Salinas Pliego, one of the wealthiest billionaires in Mexico, has urged his followers to purchase Bitcoin as a hedge against the devaluation of fiat currencies. Salinas Pliego recommended purchasing bitcoin in response to a social media post reporting on the fall of the value of the Nigerian naira under a satoshi.
Mexican Billionaire Ricardo Salinas Pliego Advises to Buy Bitcoin to Shield From Fiat Devaluation
The top 1% is starting to realize the opportunities that bitcoin, as a financial asset, can bring as a hedge for fiat currency devaluation. Ricardo Salinas Pliego, a Mexican entrepreneur with a fortune worth over $14 billion and owner of Salinas Group, has recommended its followers on X to purchase bitcoin and take advantage of its constant appreciation in value.
Commenting on a social media post describing how the value of the Nigerian naira fell under a satoshi, Salinas Pliego stated:
Buy Bitcoin and save it, pay attention!!!
The Nigerian official currency has been facing a rough period, becoming the worst-performing currency against the U.S. dollar in May. This has prompted a series of measures from the Nigerian government to try stabilizing the currency, cracking down on crypto operators to force them to withdraw it from their platforms, and accusing them of currency manipulation.
However, these measures have not stabilized the currency’s value, which remains in constant decline.
Salinas Pliego was further asked which exchange-traded funds (ETF), stocks, and cryptocurrencies he would recommend as an investment option. He answered “bitcoin,” showing his faith and trust in the investment aspect of the cryptocurrency.
Salinas Pliego, famous for his anti-state stance, has favored bitcoin and bitcoin-linked policies in Mexico. In 2021, he declared his allegiance to Bitcoin, stating that it “had extraordinary properties,” and describing it as “gold for the modern world.” At that time, he explained he was working for Banco Azteca, his bank, to be the first institution to accept bitcoin in Mexico.
Also, in 2022, he reported that Elektra Group, a chain of department stores owned by Salinas Group, might start selling bitcoin as merchandise.
What do you think about Ricardo Salinas Pliego’s advice? Tell us in the comments section below. #Write2Earn

New York Tightens Customer Service Regulations for Crypto Companies

The New York State Department of Financial Services (DFS) has introduced new guidance mandating regulated cryptocurrency entities to implement customer service policies and procedures. Crypto entities must collect data to ensure timely and fair resolution of issues, maintain records for regulatory review, and provide quarterly analyses.
New York Regulator Requires Crypto Firms to Adopt New Customer Service Guidelines
New York State Department of Financial Services (DFS) announced Thursday that Superintendent Adrienne A. Harris has issued “guidance regarding customer service requests and complaints.” The guidance requires DFS-regulated virtual currency entities (VCEs) “to maintain and implement effective policies and procedures to promptly address customer service requests and complaints,” the announcement details, adding:
The guidance requires VCEs to collect relevant data so that the Department can assess whether they are resolving customer service requests and complaints in a timely and fair manner.
“Today’s guidance reflects DFS expectations of VCEs regarding customer service policies and procedures, including channels or mechanisms, response and resolution monitoring, and reporting,” the DFS added. “The guidance requires licensees to maintain for Departmental review records of their own policies and procedures, as well as quarterly analysis of requests and complaints they receive. Through examinations and supervisory monitoring, the Department will assess the application of these policies and procedures as well as their efficacy.”
The announcement also highlights several key policies and procedures from the guidance. They include offering phone and electronic text options for submitting requests and complaints, providing regular updates and estimated resolution timelines, publishing FAQs accessible without login, tracking requests and complaints with customer satisfaction feedback, and reporting quarterly on the number and nature of requests and complaints along with resolution times. Additionally, entities must provide a copy of their customer service policies, align with the described standards, and specify responsible individuals for overseeing these policies.
What are your thoughts on the New York State Department of Financial Services’ issuance of customer service guidance for cryptocurrency firms? Let us know in the comments section below. #Write2Earn

Nigerian Artist Davido’s Meme Coin Plummets Shortly After He Pockets $474,000 From Token Sale

Nigerian artist Davido has been accused of perpetrating an “outright scam” after pocketing over $468,000 from selling his recently launched meme coin. A prominent Nigerian crypto enthusiast claims Davido’s actions create problems for many legitimate crypto businesses and startups operating in good faith.
Davido Offloads Meme Coin Hours After Promoting It to Followers
The Nigerian musician and celebrity, Davido, stands accused of orchestrating another pump-and-dump scheme after his latest crypto token surged by 200% before plummeting 56% just an hour later. According to a report, the Nigerian celebrity purchased 203 million DAVIDO or 20.3% of the token’s total supply using seven SOL tokens. Davido subsequently sold 121.88 million of these and pocketed a profit of 2,791 SOL (approximately $474,000).
The Nigerian singer, known for his substantial social media following, reportedly launched the token on May 29 using the meme coin launchpad Pump.fun. He actively promoted the meme coin to his followers before offloading millions of it on May 30.
In July 2021, Bitcoin.com News reported that Davido vigorously promoted the so-called deflationary token rapdoge, encouraging his followers to buy it. The token’s value briefly surged by 100% before returning to pre-promotion levels. Prior to that, Davido also promoted another token, racksterli, which suffered a similar fate.
An ‘Outright Scam’
Meanwhile, reports that Davido may have offloaded the meme coin just before it crashed sparked a furious reaction from Nigerian crypto enthusiasts, who have branded the celebrity a scammer. Rume Ophi, a prominent crypto and blockchain educator, strongly criticized the Afrobeats superstar Davido for perpetrating an “outright scam.”
Hours before the meme coin’s spectacular collapse, Ophi had informed Davido’s followers who purchased the token that they were likely victims of the singer’s latest crypto scam.
“If you bought the $DAVIDO meme coin expecting to cash out profits, I’m here to tell you that you were outright scammed by Davido himself. This is textbook behavior for a crypto rug pull scam,” Ophi, who is also known as the cryptopreacher, warned.
Ophi noted that if U.S. citizens also invested in the meme coins, there is a distinct possibility that U.S. regulators would pursue Davido. In addition to his troubles, Davido’s token event is likely to cause issues for “many legitimate businesses and startups operating in good faith across our crypto markets.”
As the backlash over his latest “pump and dump scheme” continued to unfold, a South African online publication revealed that Davido was vacationing in Cape Town. The publication also shared pictures of Davido as he toured the city.
Do you agree that Davido’s promotion of his meme coin amounts to a pump-and-dump operation? Share your opinions in the comments section below. #Write2Earn

Transak and Cometh Launch Industry-First Fiat-to-Layer 3 Crypto Onboarding Solution

Transak, a Web3 payments provider, has teamed up with blockchain development platform Cometh to introduce a streamlined fiat-to-Layer three (L3) onboarding solution. This new system reportedly simplifies the purchase of crypto assets directly on Cometh’s L3 blockchain, Arbitrum Orbit.
Transak Partners With Cometh to Simplify Fiat-to-L3 Crypto Transactions
According to the company’s announcement, Transak and Cometh‘s partnership marks a significant advancement in simplifying crypto asset transactions on layer three (L3) blockchains. The integration enables users to buy ethereum (ETH) on Muster, Cometh’s Arbitrum Orbit platform, without dealing with crypto and gas tokens.
By automating interactions directly at the protocol level through Transak One and the Web3 development platform Cometh’s smart contracts, the solution eliminates the need for intermediate steps like token bridging, significantly cutting down transaction times.
According to Steven Goldfeder, co-founder and CEO of Arbitrum’s development firm Offchain Labs, the collaboration “simplifies [the] user experience, unlocks mainstream adoption potential, and showcases the power of building innovative solutions on Arbitrum’s scalable infrastructure.”
Goldfeder added:
It marks a significant milestone in the growth of our Layer 3 ecosystem.
Before this integration, users had to navigate a multi-step process involving purchases on a Layer 2 solution and subsequent bridging to Muster, which was cumbersome and time-consuming. Transak says users can now directly purchase cryptocurrencies using credit cards on Muster, making entry into non-fungible token (NFT) marketplaces and other blockchain interactions a whole lot faster.
What do you think about Transak’s and Cometh’s partnership? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Analyzing Tether's 111 Billion Supply: Top USDT Wallets on Tron and Ethereum
This year, the supply of the stablecoin tether has surpassed the $100 billion mark, and today, the leading dollar-pegged token boasts a market valuation of $111.9 billion. The majority of this supply resides on Tron, with the network hosting $58 billion in tethers, while Ethereum accounts for $51 billion. This editorial examines the top wallets on both networks and identifies the largest tether holders today.
The Distribution of Tether’s 111 Billion Supply on 2 Major Networks
While there are 111.9 billion tethers in circulation, the bulk of them are on the Tron and Ethereum networks. Currently, Tether’s transparency page reports over 109 billion tether (USDT) are hosted across both blockchains. Data from etherscan.io reveals that 5.73 million unique addresses hold USDT on Ethereum, whereas tokenview.io shows Tron has 43.47 million addresses holding tether. Binance, the world’s largest crypto exchange by trade volume, possesses a significant amount of Tron-based tethers.
Binance controls the largest tether wallet on the Tron network, with 9.12% of the total supply stored in its cold wallet. As of this week, Binance holds 5.36 billion TRC20-native tethers in that wallet. Binance also manages the second, third, and fourth largest Tron-based USDT wallets. The second-largest wallet holds 6.80% of the supply, the third holds 3.9%, and another Binance address holds 3.68% of the USDT supply on Tron. The Tether Treasury wallet ranks as the fifth-largest Tron-based USDT holder with 1.11% or 655,364,163 tethers.
Interestingly, Binance also owns the sixth-largest Tron-centric USDT wallet. On Ethereum, Binance is the largest holder of ERC20-based USDTs. The Binance wallet secures 5.6 billion Ethereum-native tethers, accounting for 10.78% of the supply. The second-largest holder is Arbitrum One, which holds 4.6% of the supply, valued at $2.39 billion. Below Arbitrum, Binance holds the third-largest ERC20-styled tether wallet with 1.82 billion, or 3.5% of all the USDTs on Ethereum.
Bybit, a crypto exchange, is the fourth-largest USDT holder on the Ethereum blockchain, with 2.35% of the supply, or 1.22 billion tethers. The Tether Treasury is again the fifth-largest holder on the Ethereum network with 922 million tethers. The Polygon bridge is the sixth-largest ERC20 tether holder with 901 million USDTs. The Polygon bridge wallet is followed by Mexc, the Optimism Gateway, and another Binance wallet. The top 100 holders collectively own 54.55% of the Ethereum-based tether supply.
The concentration of tether (USDT) among a handful of major players, particularly Binance, highlights their substantial influence in the stablecoin market. The tether landscape showcases a complex network of interconnected blockchains and wallets, emphasizing the top stablecoin’s dominance in the crypto economy. As cryptocurrency adoption accelerates, keeping an eye on the evolving dynamics of the stablecoin ecosystem and its principal holders becomes crucial for understanding market trends.
What do you think about the 111 billion tethers and the top wallets holding this stablecoin? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Dormant Bitcoin Address Awakens After a Decade, Moves $9.8 Million in BTC

May has emerged as a notable month for ‘sleeping bitcoin’ transactions, with a long-dormant address, inactive for ten years and six months, awakening on May 28 to move 145.89 BTC, valued at $9.8 million.
Over $109 Million in Bitcoin From 2013 Moved in May
After a much quieter April, May has witnessed numerous dormant bitcoin addresses becoming active after years of inactivity. Notably, a significant holder from 2010 reappeared this month, spending 2,050 BTC from a cache of block rewards.
Additionally, $9.6 billion in Mt Gox bitcoins was transferred on Tuesday morning. On the same day, May 28, 2024, at block height 845,533, another entity decided to transfer 145.89 BTC worth $9.8 million from a dormant 2013 address.
The wallet was initially created on Nov. 20, 2013, when BTC traded at $590 per coin. Consequently, the bitcoins were worth $86,075 on the acquisition day. If sold, the entity would realize an 11,388% gain against the U.S. dollar since Nov. 20, 2013.
The transaction was tracked and discovered by btcparser.com, and the funds moved from a Pay-to-Public-Key-Hash (P2PKH) address to another legacy-styled P2PKH wallet. The bitcoins moved again from the new address created on May 28.
However, the associated bitcoin cash (BCH) remains inactive, valued at $68,181 for the 145.89 BCH. The transaction had two privacy issues, scoring a low 45 out of 100 in overall stealth due to the use of the “send everything” option (sweep) and repeated address inputs.
May has seen several 2013 ‘sleeping bitcoin’ transactions, with 17 occurring this month. A total of 1,613.93 BTC from 2013, valued at $109.39 million today, has been transferred over the past 29 days.
What do you think about the bitcoin holder who decided to move nearly $10 million in bitcoin after more than a decade? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Medical Tech Firm Semler Scientific Invests in Bitcoin, Acquires 581 BTC

On Tuesday, the publicly traded medical technology firm Semler Scientific announced its decision to allocate bitcoin to its treasury. The company disclosed that it had acquired 581 bitcoins for a total of $40 million.
Semler Scientific Embraces Bitcoin
Joining the trend initiated by Microstrategy in 2020, another company has reportedly begun holding bitcoin on its balance sheet. Semler Scientific, Inc., known for developing, manufacturing, and marketing products and services for early detection and treatment of chronic diseases, was co-founded by Dr. Herbert J. Semler in 2007. Eric Semler, the company’s chairman, expressed a strong belief in bitcoin’s future.
“Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,” Semler stated. “Bitcoin is now a major asset class with more than $1 trillion of market value. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.”
The chairman added:
We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of bitcoin. Given the gap in value between gold and bitcoin, we believe that bitcoin has the potential to generate outsize returns as it gains increasing acceptance as digital gold.
The company claims that the board and senior management dedicated considerable time to exploring possible uses for their cash reserves, including acquisitions. After evaluating different options, the company concluded that holding bitcoin was the most advantageous use of their excess funds, Semler explained. Following the announcement, Semler Scientific (Nasdaq: SMLR) increased by over 20% at the beginning of Tuesday’s trading sessions.
Some companies have been criticized for using announcements of BTC reserves to boost their stock. Nilam Resources, a South American gold miner, faced accusations of engaging in a mere publicity stunt. After Nilam announced plans to acquire bitcoins, the company later issued a press release retracting the statement following a sharp rise in its stock. Following the Semler announcement, Microstrategy’s founder Michael Saylor shared the medical company’s news on the social media platform X.
What do you think about the medical company buying bitcoin for its reserves? Let us know what you think about this subject in the comments section below. #Write2Earn

Conviction Fails to Deter Donald Trump's 2024 Election Odds, According to Polymarket Bets

Following the landmark news of former President Donald Trump’s conviction on 34 counts related to a hush-money scheme allegedly influencing the 2016 election, data from the Polygon-powered prediction market Polymarket shows Trump still leading in forecast bets for the 2024 election.
Convicted But Leading: Trump Tops 2024 Election Predictions on Polymarket
According to Polymarket, Donald Trump, the 45th President of the United States, is projected to win the election this November despite his conviction on May 30, 2024. A jury of 12 New Yorkers found Trump guilty of felony falsification of business records, a crime involving the creation or cause of false entries in records with the intent to commit another crime.
Trump remains eligible to run for and potentially become the next president of the United States despite his recent criminal conviction. The U.S. Constitution does not explicitly bar convicted felons from running for or serving as president. While Trump’s conviction could result in a maximum sentence of four years in prison, it is widely believed that he will avoid jail time as a first-time offender for a non-violent crime.

Forty-eight days ago, before Trump’s conviction, Polymarket’s odds for the 2024 election were closer. Trump had a 46% chance of defeating incumbent President Joe Biden, who held a 44% chance. The day after the jury reached its conclusion, Polymarket’s odds of Trump winning increased significantly compared to April. Currently, the Polymarket called “Presidential Election Winner 2024” gives the former president a 54% chance of winning.
The Polymarket election bet is currently valued at $143.76 million, with Biden holding a 40% chance of winning. Below Biden is Michelle Obama with a 4% chance and Robert F. Kennedy Jr. with a 2% chance. Other prediction sites show similar trends, with covers.com’s betting odds showing Trump leading with 52.4% and Biden at 43.5%. Covers.com also notes Trump’s conviction on 34 counts prominently on its website.
On oddschecker.com, Trump’s chances of winning stand at 45.5%, while Biden’s are around 33.3%. Interestingly, following the conviction, many people who previously did not support Trump have now decided to vote for him. “I’m voting for Trump,” one individual remarked. “I don’t even like him. I’m just tired of the left. Tired of DEI & gun laws & tax hikes & climate nonsense & billions to foreigners.” Maine Senator Eric Brakey said:
I was undecided, but today’s events have convinced me. I am voting for Trump.
What do you think about the Polymarket bet that shows Trump is leading in the election odds as far as winning? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Blockchain helps harvesting better avocados in Kenya — Here’s how
Small-scale farmers lack the essential tools to address significant challenges in avocado production. Here’s how blockchain and AI can help them.
Avocado is important for Kenya. Beyond being an essential side dish and a pudding ingredient for the local population, this pear-shaped fruit is also a major contributor to Kenya’s export proceeds. 
In a global market valued over $15 billion in 2023, Kenya proudly stands as the fourth biggest avocado producer — and the biggest in Africa — thanks to its climate that enables perennial production. 
However, only about 23% of the avocados harvested in Kenya could make it to the export market, according to One Million Avocados (OMA) — a startup organization in Kenya focused on helping avocado farmers in the region. 

According to Statista, 70% of the avocado production in Kenya is done by small-scale farmers who lack direct access to a unifying network or modern agriculture technology. Stringent rules create a barrier for smaller-scale farmers to export their produce, while common agriculture challenges like pests and diseases lower the quality of their product.
How blockchain and AI can help small-scale farmers
A combination of local expertise and advanced technology, including blockchain, data analytics and artificial intelligence (AI), could tackle the key challenges faced by Kenyan avocado farmers. 
This is the main goal of the partnership between OMA and Dimitra, a blockchain-based agricultural technology (AgTech) company that drives productive, intelligent and inclusive farming. As part of the collaboration with OMA, Dimitra has equipped local avocado farmers with essential technology featuring AI, Internet of Things (IoT) and blockchain. Moreover, Dimitra’s blockchain helps farmers comply with strict environmental, social and governance (ESG) standards, opening up new markets and unlocking new value for their produce. 
The partnership stands as Dimitra’s first foray into real-world asset (RWA) tokenization, which seeks to digitize assets from the physical world on a blockchain. To help Kenyan farmers manage avocado production more efficiently, Dimitra and OMA digitized 10,000 avocado trees in Kenya as nonfungible tokens (NFTs), bringing transparency and opportunity to smallholder farmers. 
Agriculture gets NFT treatment
Minted on the Polygon blockchain, each Agriculture RWA NFT provides farmers with a real avocado tree with complete real-world data, including the GPS location of the tree, its farm score, a photo and development history. Along with the tree seedling, farmers also receive enterprise-grade tech solutions with their NFT, including soil sensors, fertilizers, satellite images and AI-powered agronomic analysis reports.
As part of the partnership, OMA will use DMTR, the proprietary token of the Dimitra ecosystem, for transactions. The global accessibility of cryptocurrencies helps Kenyan farmers hold and make transactions directly on the blockchain, enabling seamless NFT purchases and revenue-sharing activities. OMA will also convert avocado farmers’ points accrued for DMTR tokens to increase awareness of how crypto could make agriculture more efficient and effective.
Connecting farmers on blockchain
A vital aspect of the OMA-Dimitra partnership is onboarding Kenyan avocado farmers to Connected Farmer — a Web3 platform that aims to democratize access to key technology for smallholder farmers. 
Available on Android, iOS and web browsers, Connected Farmer offers all the functionality of Dimitra blockchain in an easy-to-use interface. Farmers get direct access to Dimitra’s tech stack through the Connected Farmer platform, which enables them to utilize advanced machine learning and data science methods to track their pest and disease problems in real-time and better understand effective solutions to address them. 
The monitoring and traceability capabilities offered by blockchain have helped with precise farm management, resulting in better crops and more efficient harvest processes.
Blockchain utility beyond finance
“We believe in using technology to help farmers worldwide,” Dimitra commented on its vision, adding: “Dimitra is leading the way by using AI, IoT and blockchain to support smallholder farmers.”
“Our goal is to provide farmers with tools to improve their crops, save money, and manage risks. In the crypto world, Dimitra is showing how blockchain can benefit sectors beyond finance.”
With the support of local partnerships, blockchain and AgTech have the potential to establish sustainable practices and business models for smallholder farmers. By demonstrating blockchain's use in agriculture and how cryptocurrencies can help, community-driven projects, such as Dimitra, encourage more people to adopt blockchain technology.  #Write2Earn

Nigerian crypto community raises alarm over Davido meme token
Davido has remained silent amid criticism about pump-and-dump schemes and regulatory scrutiny.
Afro-pop star Davido’s management of his newly launched meme token, DAVIDO, has drawn criticism from the Nigerian crypto community. Many believe that a token dump may soon be part of his plans.
According to Lookonchain, Davido made a considerable profit of 2,783 SOL ($473,000) in just 11 hours by selling his DAVIDO memecoin after its launch on May 29. The singer still has an unrealized profit of $207,000.
Davido's memecoin launch
Davido had received an initial investment of 7.5 SOL (worth $1,275) and then used 7 SOL ($1,190) to create and launch his DAVIDO token on the platform pump.fun, purchasing 203 million DAVIDO tokens, representing 20.3% of the total supply.

The blockchain tracking firm stated that he also sent 20 million DAVIDO to “dead1111...1111,” with 61.12 million DAVIDO ($207,000) left.
Community reacts
Although Davido has remained silent on the issue, his fans and the crypto community have widely criticized his withdrawal of substantial figures from his DAVIDO token stash while encouraging people to buy.
Rume Ophi, a local crypto expert, believes that Davido could have made a more strategic move by advocating for regulatory clarity and exchange licensing in Nigeria’s crypto space rather than launching his own token.
Ophi said Davido’s memecoin risks becoming a pump-and-dump scheme, undermining industry credibility and sparking SEC scrutiny.
Cointelegraph reached out to Davido for comment but had no response by the time of publication.
With followers, many of whom may be inexperienced in cryptocurrencies, this move could lead to widespread financial harm and increased regulatory pressure on legitimate players.
One X user remained disappointed that Davido and his team could not allow the new memecoin to gain momentum. He said they could have made even more money if Davido and his team had handled the launch more strategically.
The user suggested that Davido and his team could have allowed the new token to gain momentum and grow in value rather than selling a large amount of the token (almost $500,000 worth) immediately after its launch.
According to another X user, @Toobbss, Davido has a history of dumping digital coins on his fans, and the recent incident marks the second time he has done so in the past three years, leaving his followers to bear the losses.
Davido had promoted RapDoge in 2021 before dumping over $300,000 on his fans.
Meanwhile, Davido’s moves within the cryptocurrency world come as celebrity meme assets gain traction. Iggy Azalea recently introduced her own token, MOTHER.
However, these celebrity-backed cryptocurrency launches have sparked controversy, leaving investors vulnerable to potential pump-and-dump schemes, which could result in financial losses. #Write2Earn

Financial institutions face rising threat from sophisticated AI fraud
Many financial institutions are struggling to keep up with the rising sophistication of AI-driven fraud, creating a critical need for enhanced detection and prevention methods.
In the world of finance, artificial intelligence (AI) has emerged as both a tool and a generator of new problems. It brings forth innovation, productivity and efficiencies for companies, however, it has also introduced sophisticated challenges that many financial institutions are unprepared to address.
Since the rise of accessible AI tools, many financial institutions have struggling with a lack of tools to accurately identify and segregate AI fraud from other types of fraud.
This inability to differentiate various fraud types within their systems leaves these institutions with a blind spot and makes it difficult to comprehend the scope and impact of AI-driven fraud.
Cointelegraph heard from Ari Jacoby, an AI fraud expert and the CEO of Deduce, to better understand how financial institutions can identify and separate AI fraud, what can be done to prevent this type of fraud before it occurs and how its rapid growth may impact the entire industry.
AI fraud identification
Given that the main challenge is that most financial institutions currently have no way of distinguishing between AI-generated fraud and all other types, it is aggregated into one category of fraud.
Jacoby said the combination of legitimate personal identifiable information — like social security numbers, names, and birthdates — with socially engineered email addresses and legitimate phone numbers makes detection by legacy systems nearly impossible.
Jacoby said that this makes preventing and remediating the major fraud drivers exceptionally difficult, especially as new types of fraud ramp up.
“AI is particularly difficult to detect because of its ability to create synthetic, lifelike identities at a scale that makes it nearly impossible for technology to identify.”
According to the Deduce CEO, the challenge with solutions is that technology is advancing rapidly, and therefore, so is the skill set of those committing AI fraud. This means that financial institutions must be on top of their game now to understand where AI comes into play in such cases of fraud. 
Finding solutions
According to Jacoby, the first step in implementing solutions is to analyze the online activity patterns of individuals and groups of identities to find fraudulent actions that might appear legitimate but are actually fraud. 
He said legacy fraud prevention methods simply aren’t enough anymore, and financial institutions will need to become “relentlessly proactive” in their pursuit of preventing the continued explosion of AI-generated fraud.
This likely won’t mean implementing just one solution — it wil mean creating a layered program that works to identify existing fraudsters lingering within the existing customer base while also working to prevent new fake identities before they infiltrate.
“By layering solutions, utilizing massive data sets to identify patterns, and more accurately analyzing trust scores, this type of fraud can be better mitigated.”
Jacoby said most of the financial fraud teams they are speaking with are moving risk “one peg to the right,” with anything previously categorized as low risk now medium risk, and they are taking additional steps to prevent fraud across all stages of the customer life cycle. 
“They’re taking the threat of AI fraud seriously; it’s one of the major issues plaguing the financial industry, and we’re merely at the beginning stages of how advanced this technology will become.”
Jacoby stressed that fraud has surged by 20% year-over-year, with the rise of AI significantly increasing the prevalence of synthetic identities.
“AI Driven fraud is the fastest growing aspect of identity fraud today and will be over $100B problem this year.”
Beyond traditional financial institutions, AI-generated fake IDs also have the possibility to reshape crypto exchange KYC measures and cybersecurity as a whole.
The issue is large enough that it is also already being looked at by regulators. On May 2, the United States Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson advanced three proposals for the regulation of AI technologies as they apply to U.S. financial markets.
Particularly the introduction of heightened penalties for those who intentionally use AI technologies to engage in fraud, market manipulation or the evasion of regulations.
If financial institutions and regulators don't take action now, they risk being unable to effectively grasp the right solution. #Write2Earn

Terraform, Do Kwon to reach fraud settlement with SEC
Terraform Labs and CEO Do Kwon are finalizing a settlement with the SEC. Both parties are expected to submit the final terms for court approval by mid-June.
Terraform Labs and its former CEO, Do Kwon, have agreed in principle to settle a fraud case with the United States Securities and Exchange Commission, according to court filings. 
The lawyers representing both parties disclosed a settlement in principle in a telephone conference held before Judge Jed Rakoff on May 29. The settlement terms are expected to be finalized and submitted for court approval by June 12, 2024.
Terraform and Kwon were found liable for defrauding investors in its civil case with the SEC in February. The parties were scheduled to discuss remedies in the case on May 29.
The SEC’s case against Terraform and Kwon focused on the misleading promotion and sale of crypto tokens, particularly the algorithmic stablecoin TerraUSD (UST) and Terra-related tokens. The SEC accused Terraform and Kwon of offering crypto assets without proper registration and misleading investors about their stability and investment potential.
The collapse of Terraform Labs in May 2022 triggered the latest crypto winter, leading to a sharp downturn across markets and affecting multiple crypto firms and investors.
Kwon and Terraform face a significant financial penalty as the SEC sought approximately $5.3 billion in disgorgement, prejudgment interest and civil penalties. Meanwhile, Terraform Labs proposed a significantly lower penalty of $1 million, arguing against disgorgement, especially from affiliated entities not directly named in the SEC’s case, like the Luna Foundation Guard.
The SEC went further to propose a prohibition on Kwon’s roles as an officer or director in any securities-issuing entity. The regulator also demanded Kwon fully disclose details about his financial accounts and assets. In a separate filing, Kwon claimed that providing details of his assets and accounts would violate his Fifth Amendment rights against self-incrimination.
Kwon was arrested in March 2023 for falsifying travel documents while trying to leave Montenegro, where he also faces potential charges. He was later released on bail, and the U.S. seeks his extradition.
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New York sets customer service standards for virtual currency entities
The BitLicense just got a little tougher with new mandatory standards for treating customers right.
The New York State Department of Financial Services (DFS) has established customer service standards for DFS-regulated virtual currency entities (VCEs) and will begin monitoring their implementation. Based on the VCEs’ records, the DFS will assess the adequacy and efficiency of customer service policies. 
The DFS set out detailed requirements for VCE phone and electronic communications, transparency and online frequently asked question (FAQ) posting. VCEs will be expected to provide records of their policies and procedures and the requests and complaints they receive along with resolution times.
Defining good customer service
The new requirements are largely elementary. “Human customer service representatives” should be available during business hours, and customers should be connected to voicemail during off hours. Receipt of electronic communications should be automatically acknowledged with an estimated response time. FAQs should be accessible to viewers who do not hold an account with the company. Customers should be informed immediately if they are interacting with artificial intelligence rather than a human.
Every customer request or complaint must be tracked and the person or persons responsible for customer service have to be identified to the DFS.

Recordkeeping in the form of tabulation and customer feedback must begin in the third quarter of 2024 and be accessible to the DFS by Nov. 1. “This guidance outlines clear expectations for a positive customer experience, which benefits both consumers and business,” Supervisor Adrienne Harris said in a May 30 statement.
Regulating for preeminence
VCEs are regulated through New York’s BitLicense or are chartered as limited-purpose trust companies engaging in virtual currency business activities. There are currently 32 VCEs with BitLicenses or trust charters. They are required to pay their supervisory costs under a DFS regulation adopted in April 2023, comparably with bank and insurance entities.
The DFS seeks to be “the preeminent regulator of virtual currency.” Major crypto firms, including Bitfinex, Kraken and Paxful, departed the state when BitLicense was instituted in 2015. The BitLicense regime has been criticized, notably by pro-crypto New York City Mayor Eric Adams in April 2022, for its “stifling” requirements. However, the DFS tightened its regulatory grip on VCEs in November 2023. #Write2Earn

Former banker sentenced to 41 months for crypto fraud
Rashawn Russell, a former Deutsche Bank executive, also intended to commit fraud with stolen bank cards.
On May 31, former investment banker Rashawn Russell was sentenced in Eastern New York District Court in Brooklyn to 41 months in prison for wire fraud in a cryptocurrency scheme and an unrelated access device fraud scheme. The former Deutsche Bank executive pleaded guilty to the charges in September. 
According to the Justice Department (DOJ), Russell ran the fraudulent R3 Crypto Fund between November 2020 and August 2022. The fund promised to make cryptocurrency investments and pay large, sometimes guaranteed, returns. In reality, Russell used investors’ money for his personal benefit or to repay other investors. He also falsely claimed to have wired money to investors asking to be repaid.

Russell was also a registered broker with the Financial Industry Regulatory Authority. He could have been sentenced to 30 years in prison on the charges. He was also ordered to pay $1.5 million in restitution to the victims of the crypto scheme.
Separately, between September 2021 and June 2023, Russell obtained 97 bank cards with at least 43 identities with the intention of using them for fraudulent transactions.
Related: Crypto losses from fraud and hacks declined 12% in May — Immunefi
Prosecutors charged Russell on the crypto-related count in April 2023. He pleaded guilty to all the charges in September.
Lots of criminal crypto action foiled
Russell’s conviction is one of a rash of fraudsters who faced justice in the last two months. On April 12, computer security engineer Shakeeb Ahmed was sentenced to three years in prison followed by three years of supervised release in Southern New York District Court for flash loan attacks on crypto exchanges in 2022.

On May 15, the DOJ charged brothers Anton Peraire-Bueno and James Pepaire-Bueno with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering for manipulating the Ethereum blockchain.
On May 18, Thomas John Sfraga pleaded guilty to a wire fraud charge in connection with a nonexistent crypto wallet and other schemes. On the same day, two people were arrested on seven counts of money laundering and international money laundering involving funds from a pig-butchering crypto scam worth over $73 million. #Write2Earn

Trump Interested in Using Bitcoin to Solve the US National Debt Problem
Former President and Republican Presidential Candidate Donald Trump reportedly inquired about solving the U.S. national debt problem using bitcoin. Audio recorded by the Bitcoin.com News team confirmed that on an X space held on Sunday night, Bitcoin Magazine CEO David Bailey revealed that Trump asked if bitcoin could solve the $35 trillion U.S. national debt problem during their first meeting.
Trump Inquired About Solving the U.S. National Debt Problem With Bitcoin
Bitcoin’s reserve asset traits are now being examined in developing strategies to solve the U.S. national debt problem. According to David Bailey, CEO of Bitcoin Magazine, Presidential Republican candidate and Former President Donald Trump inquired about using Bitcoin to tackle the growing debt problem.
Audio recorded by the Bitcoin.com News team confirms that on an X space held on Sunday Night, Bailey was asked if he had pitched the idea of backing the U.S. dollar with bitcoin, first presented by U.S. Presidential Candidate Robert Kennedy Jr.
Bailey then revealed what happened during the first time he met Trump to discuss the crypto policy of its campaign.
He stated:
No, not yet. But when we met, the first thing he asked me was like: ‘ Hey, can bitcoin do anything about the 35 trillion dollar debt?’ I was like, we have some ideas, but we’re not talking about that in the first meeting.
Bailey, who recently disclosed his links to Trump’s campaign, also revealed that he was in part responsible in part for the speech where the Republican candidate stated that he would keep Senator Elizabeth Warren’s goons away from bitcoin.
He acknowledged that the speech was heavily redacted and got information from several sources. Nonetheless, Bailey stressed Trump was supposed to reference bitcoin directly, stating that “crooked Joe (Biden) doesn’t even know what bitcoin is.” Instead, Trump substituted the word bitcoin for crypto.
Trump recently announced he would start accepting cryptocurrency donations for his campaign. Bailey is also in the process of raising a $100 million fund to secure Trump’s victory in the upcoming elections.
What do you think about Trump’s statements about dealing with the U.S. national debt using bitcoin? Tell us in the comments section below. #Write2Earn

Bitcoin's Scaling Dilemma: Binance Report Sheds Light on BTC's Enhancement Hurdles 

Amidst the backdrop of this year’s skyrocketing BTC transaction fees and a congested network, the latest Binance Research report, “The Future of Bitcoin #3 – Scaling Bitcoin,” unveils several approaches to addressing Bitcoin scalability. As average onchain fees have climbed in 2024, Binance researchers say stakeholders across the ecosystem are poised to redefine Bitcoin’s infrastructure to foster growth and efficiency.
Binance Analyzes Bitcoin’s Growing Pains
The latest Binance Research report highlights the surge in BTC’s transaction fees, which have escalated from $1.50 in 2022 to $9.50 in 2024, underscoring the pressing need for scalability solutions. Innovations such as Ordinals inscriptions, BRC20 tokens, and the Runes protocol have intensified discussions around scalability, indicating a pivotal shift towards a more expansive Bitcoin network capable of supporting a diverse range of applications.
Comparatively, Ethereum’s layer two (L2) solutions account for about 10% of its total market value, significantly outpacing Bitcoin’s 0.13% in L2 Total Value Locked (TVL). This stark contrast not only highlights the underutilization of Bitcoin’s L2 potential but also marks a critical area for growth. Key scalability solutions for Bitcoin focus on trustless two-way bridges, alignment with the base layer, and incentives that foster collaboration among users, developers, and newcomers to the crypto space.
The development of infrastructure-level technologies like Taproot and BitVM is broadening the scope of what can be built atop Bitcoin. While projects like the Lightning Network others exist, they represent just a small facet of a burgeoning array of solutions that include sidechains and zero-knowledge rollups, all aimed at enhancing Bitcoin’s throughput and reducing its transactional load.
The conclusion of the Binance report emphasizes the dynamic evolution of Bitcoin as it embraces decentralized finance (defi) primitives like stablecoins and advanced trading protocols. This progression is essential for adapting to the increasing demands on the network, evidenced by the growing mempool and rising transaction fees.
While existing solutions like Lightning Network offer interim relief, the future potential of Bitcoin scalability lies in the broader adoption of zero-knowledge rollups and other innovative L2 technologies that are currently in development.
What do you think about the Binance Research report? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Elon Musk Says Crypto Can Shift Power From Government to the People, but Denies Discussing Crypto With Trump

Tesla and Spacex CEO Elon Musk has debunked reports claiming that he advised former U.S. President Donald Trump on cryptocurrency. While stating that he is pretty sure he has not discussed crypto with Trump, Musk said crypto can “shift power from the government to the people,” and he is generally in favor of it.
Musk: No Trump Crypto Talks, Favors It for Empowering People
Tesla and Spacex CEO Elon Musk has responded to a report that he has advised former U.S. President and presidential candidate Donald Trump on several matters including cryptocurrency.
“Elon Musk and Donald Trump are discussing cryptocurrency policy as the former president increasingly highlights bitcoin and other digital assets on the campaign trail as a way to reach new voters, according to a person familiar with the talks,” Bloomberg reported Thursday. Musk responded on X that he is “pretty sure” he has never discussed crypto with Trump. However, the billionaire added that he is generally in favor of “things that shift power from government to the people,” which he said, “crypto can do.”

Trump has been courting crypto voters recently. The former U.S. president seems to have shifted his crypto stance. As President, he stated he was “not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.” At a recent Libertarian National Convention, Trump vowed to “stop Joe Biden’s crusade to crush crypto” and “ensure that the future of crypto and the future of bitcoin will be made in the USA, not driven overseas.” He also pledged to “support the right to self-custody” and “never allow the creation of a central bank digital currency [CBDC].” Additionally, he promised to free Ross Ulbricht.
Moreover, Trump’s campaign recently began accepting crypto donations through Coinbase. Former Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo considers Trump America’s first crypto president, highlighting that bitcoin futures were approved during his administration. Since leaving office, Trump has launched three non-fungible token (NFT) collections. In March, he referred to bitcoin as an additional form of currency. In February, he acknowledged the crypto’s popularity, stating that BTC has taken on a life of its own and he can live with it.
Meanwhile, Musk previously disclosed that he owns bitcoin, ether, and dogecoin. The billionaire has been a prominent advocate for the meme cryptocurrency, earning him the nickname “Dogefather” in the crypto community. In January, Musk confirmed his continued possession of “a bunch of dogecoin,” while denying being a dogecoin whale. His companies also have bitcoin holdings; recent onchain analysis showed that Tesla owns 11,509 bitcoins and Spacex owns 8,285 BTC. In 2021, Tesla briefly accepted bitcoin for vehicle purchases. However, in December of last year, Musk mentioned that he does not devote much time to thinking about cryptocurrencies and emphasized that none of his companies would create their own crypto token.
What do you think about reports suggesting that Elon Musk advised former U.S. President Donald Trump on crypto? Let us know in the comments section below. #Write2Earn