Happy Fri-yay, you marvelous human! 🎉
🌪️ To kickstart your weekend shenanigans, we’ve got a delightful blend of exhilarating and sidesplitting crypto news that’s sure to tickle your funny bone!
Our tireless AI has been working overtime 🤖 and has gathered some juicy insider info that’ll knock your socks off – but don’t fret, we wouldn’t want you to lose your socks on a Friday! 🧦
💰 Kim Jong-Un Has A Crypto Account?
🤝 Coinbase Needs A Pep-e Talk
👑 Bitcoin OG Dislikes Ordinals
🚀 WTH Is Milady Meme Coin?
This Crypto Exchange Approved Kim Jong-Un’s Account
So, a crypto expert named ZachXBT decided to test the security measures of a crypto exchange called Gate.io. And he did it by making a fake account – pretending to be none other than North Korea’s supreme leader, Kim Jong-Un.
🤯 Now, you’d think that a super shady account like this would get flagged and denied in seconds flat, right? But nope, the craziest thing happened – within mere minutes, ZachXBT was fully verified and approved under Kim Jong-Un’s name.
😱 What’s even more wild is that ZachXBT tried the same trick with other fake names and emails that were on the OFAC sanctions list – you know, the list of people and groups that are banned from doing business with the US. And yet, all of those accounts got approved, too.
😮 He could successfully make an account and even get KYC level-1 verification which allows account holders to withdraw up to 100,000 USDT daily. 💸
So, what does this mean?
It means that Gate.io’s Know-Your-Customer (KYC) process isn’t foolproof. 🤔 With fake names and emails slipping through the cracks, who knows what other kinds of sketchy business could be happening on their platform? 😬 Let’s hope they tighten things up ASAP. 🙏
Pepe or No-Pepe, Coinbase is Losing Support
So, there’s this crypto trading platform Coinbase and they recently sent out an email to their customers where they referred to the internet meme “Pepe” as a “hate symbol.” 😱
Can you believe it? What next, will they start calling emojis hate symbols too? 😂
Apparently the decision was based on a 2016 judgement by the Anti-Defamation League to put Pepe in their online hate symbol database. But fans and holders of Pepe Coin weren’t having it! They took to the streets (well, okay, social media) to express their outrage and demand an apology from Coinbase. 🗣️
In fact, there have been calls from Coinbase users to even delete their accounts. 💬
In response to the backlash from the crypto community, Coinbase’s Chief Legal Officer went on Twitter to admit that their newsletter about Pepe and other meme coins was severely lacking in information. Yikes! 😬
Bitcoin OG Proposes Bold Move to Eliminate Ordinals! ⚔️
Luke Dashjr, a Bitcoin Core developer, is apparently not a fan of Ordinals – in fact, he hates them more than an Eagles fan at a Cowboys home game (ouch!). And now, he’s calling for them to be labeled as spam so that they can’t be created anymore. 😠🚫
For those who aren’t in the know, spam transactions are small transactions that take up unnecessary block space and clog up the network. 💰🛡️They can be sent maliciously to try to steal someone’s identity, or accidentally when someone sends a bunch of payments individually instead of bundled together.
So what’s the big deal, you ask? Well, according to some, this is as much about ideology as it is about tech.
Bitcoin was designed to transfer money, not to build DeFi like Ethereum was. But as we’ve seen recently, the Bitcoin network has been experiencing an NFT boom thanks to Ordinals and BRC-20, crazy network congestion thanks to memecoins like Pepe, and wildly high transaction fees.
It’s highly unlikely that Dashjr will get his way on this one.
Why?
- BTC miners profit from NFT frenzy, so they’re unlikely to label Ordinals as spam.
- Dashjr is just one developer suggesting this change, BTC miners would need to unanimously green-light it.
- Any change would require a software update.
All of this drama does raise an interesting question though: “What would Satoshi do?” 🤔
What in The Fresh Hell Is MILADY MEME COIN?
Looks like we have a new challenger in the world of meme coins! Introducing Milady (LADYS), the latest coin to make a splash and gain popularity in just 24 hours. It seems like the creators of LADYS are trying to take advantage of the ongoing meme coin craze, much like your aunt trying to join TikTok to stay with the times.😅
As we’ve seen before, Elon Musk has a significant impact on the crypto market whenever he tweets about it.. Musk posted a picture associated with the LADYS memecoin on his Twitter page, and the coin’s value skyrocketed by over 10,000% in just a day.
Upon closer inspection, some Twitter pundits noticed something strange about LADYS. One particular address stands out because it bought 8 trillion LADYS with 25 ETH an hour before Elon’s post. Researchers speculate that whoever made this purchase had insider information or was trying to take advantage of a situation. 🤔💰
The hype around meme coins has attracted scammers, and unfortunately, LADYS is no exception. So, proceed with caution; you don’t want to be LADYS’ fool.
Honorable Mentions 🏆
- 🚀 MetaMask lets US users buy ETH with PayPal
- 📉 US CPI inflation drops to 4.9% in April
- 🔨 SEC’s ‘haphazard’ regulative efforts criticized by US Chamber of Commerce
Crypto Market Watch ft. AI🚀
(This section is exclusively written by AI tools)
Based on recent market trends, it seems that Bitcoin may be experiencing some weakness, while altcoins appear to be slightly bouncing back in their BTC pairs following significant retracement.
However, if we don’t break that level, we might be stuck in this same downward trajectory for a while longer.
As for altcoins, unfortunately, they’re not performing well at the moment. But don’t lose hope just yet! There’s a chance we might see some recovery after the FOMC meeting.
Get ready to indulge in the twice-weekly dose of crypto goodness that’s coming your way! Mark your calendars now for Tuesdays and Fridays and be sure not to miss it. And hey, don’t forget to check us out on Wednesdays for all the latest AI news – because why limit yourself to just one kind of intelligence?
Disclaimer: The author(s) of this newsletter are not responsible for any investment decisions made by the readers based on the information provided in the newsletter.