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Lately, investors have been complaining about Nigerian singer Davido, whose real name is David Adedeji Adeleke. When Davido backed the memcoin named after him, its value rose but then plummeted. Affected investors claim the singer made more than $450,000 from the token sale.

The singer's subscribers are condemning him for the scam as they trusted his decisions and invested in this memcoin. The Securities and Exchange Commission of Nigeria has cautioned that investing in the Davido meme cryptocurrency is at one's own risk, as such token is not registered with the agency and the SEC has no authority over it, and investors will not be able to rely on legal support in case of losses.

 

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PEPE is a cryptocurrency based on the Ethereum blockchain that was created in 2016. It was developed by a community of artists and blockchain developers as a way to uniqueise and monetise digital art.

The story of PEPE began with a meme about a frog called Pepe the Frog that went viral on social media sites. The meme grew into a pop cultural phenomenon, but after being associated with an extreme right-wing movement, the creators of the meme began using it as a symbol of protest.

In response, a community of artists began creating unique versions of Pepe, which were then tied to blockchain technology to ensure their uniqueness and authenticity. This led to the creation of the PEPE cryptocurrency, which has become a revolutionary way to monetise digital art.

Interestingly, due to its unique nature and connection to the digital art world, some versions of PEPE have sold for huge sums at auctions, attracting the attention of crypto and art historians from all over the world.

PEPE was one of the first examples of digital art to be successfully monetised using blockchain, and it continues to attract the attention of artists and investors alike.

 

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On 20 June, the creator of the Rizz project, better known as NoKapRich, was invited to present his digital assets. However, during his online presentation, the market crashed as the price of RIZZZ plummeted. The token fell 90% in just a few minutes, causing investors to suffer significant losses.

NoKapRich was shocked by what was happening and couldn't understand how this could have happened. According to him, the startup controls more than 80% of all coins issued. Therefore, such a sharp collapse of the RIZZ rate would not have been possible without the participation of the project team members.

Bubblemaps specialists confirmed that three clusters of cryptocurrency wallets own 82% of the Rizz stock. It is assumed that one or more of the team members sold the coins when their price rose significantly. They did not notify the project's founder in order to maintain a favourable view and investors did not suspect anything suspicious.

 

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Crypto-investment company Hashed, headquartered in South Korea, has announced a partnership with Abu Dhabi-based technology hub Hub71. The collaboration aims to introduce more Korean startups to the United Arab Emirates market, especially in the areas of financial technology and digital assets. Hashed is also considering opening an office in Abu Dhabi and exploring prospects to attract investment in the UAE capital.

Founded in 2017, Hashed manages approximately $700 million in assets with offices in various countries including San Francisco and Singapore. CEO Kim said Hashed is actively seeking international expansion due to the challenging environment for startups in South Korea, including difficulties in the domestic market.

 

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Again, experts from the Lookonchain platform have discovered a successful trader. According to their data, an unknown investor, possibly the developer of the DORAE memtoken, deliberately sold 2.5 million coins. The move allowed the trader to earn over $1 million in just 6 hours. Experts believe that the investor used a traditional "rug pull" scheme, which allowed him to make such a significant profit in a short period of time.

Lookonchain analysts noticed that such scam schemes are becoming more and more common among memcoins and urged users to be careful when deciding to invest in such assets.

 

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Tokyo-based S.BLOX will begin supporting Sony Group's core business units to enhance the corporation's capabilities in the cryptocurrency trading market. The S.BLOX team will redesign the user interface and introduce new functional improvements, increasing the usability for customers.

Sony Group has expressed interest in taking a leading position in the Japanese digital asset market and has already invested in a number of local cryptocurrency startups. Since 2018, the company has also been funding blockchain research through its Sony Blockchain Solutions division.

Earlier, Sony Group's press service announced that the company's banking division was testing its own stablecoin pegged to the Japanese yen on the Polygon blockchain platform.

 

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The upcoming release of the Firedancer client-validator, developed by Jump Crypto's marketmaker team for the Solana (SOL) blockchain, has launched a bug discovery rewards programme with payouts of up to $1 million. White hat hackers who discover significant bugs in Firedancer v0.1 will be able to receive this amount.

The Firedancer client is designed to improve the resilience of Solana, which has previously experienced problems due to overloads. It is also written in C/C++, which allows it to be optimised for the high-frequency trading that Jump Crypto does.

The update will also increase the blockchain's throughput to 1 million transactions per second (TPS). Solana is already the fastest blockchain currently available.

At the end of May, the developers announced that the full version of Firedancer will be released in 2025, with stripped-down versions available before then.

 

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American companies VivoKey Technologies and Dangerous Things have unveiled a unique cryptocurrency wallet that can be built right into a person's body. The price of such wallets is only $349.

These wallets can be used to send cryptocurrency while being controlled through a special app on a smartphone.

The special feature of this wallet is that the private key and signature of the transactions are stored and generated only in the chip. This chip can be used to pay for purchases or open doors with electronic locks.

According to the CEO of VivoKey Technologies and Dangerous Things, a special needle is used to embed the wallet into the customer's body, which is then removed. The wallet is then inserted into a micro incision. The developers claim that the implantation process takes less than a minute, after which the user can start using the cryptocurrency wallet to conduct transactions.

 

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South Korea's plans to tax cryptocurrency gains have changed again, with implementation delayed until 2028. The proposal to tax cryptocurrency investments has been revised several times and is awaiting approval from the government, which is expected to set an expected date for the tax's introduction in July.

The idea was first introduced in 2021, under which cryptocurrency investors whose income exceeds 2.5 million won (roughly $1900) a year would pay a 20 per cent tax.

The tax was originally supposed to be introduced from October 2021, but due to the presidential election in 2022 and the lack of tax infrastructure, it was decided to postpone the introduction until 2023.

Recently, the government decided to postpone the introduction of the tax for another two years, until 2025, as the economic outlook has become less optimistic and more time is needed to prepare investor protection measures.

 

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A fourth collection of non-fungible tokens (NFT) will soon be released, according to US Republican presidential contender, Donald Trump.

The former president, who survived an assassination attempt on him a few days ago at a campaign rally in Pennsylvania, said that people are expecting a new collection and he is not going to disappoint them.

Donald Trump also said that it is especially important to prevent China from becoming the leader in the cryptocurrency market and that only the US can take this position.

In his opinion, it is necessary to take measures so that China can not dictate the rules in the market of cryptocurrencies, since they are an integral part of the modern economy.

Recall that Donald Trump's first NFT collection this spring faced low demand, but judging by the active news feed around him after the assassination attempt, the new token collection is likely to be popular.