PEPE and FLOKI Meme Coins Gain Traction: Binance Listing Fuels Market Cap Growth

Binance, the world's largest cryptocurrency exchange, has recently announced the addition of PEPE to its platform, potentially shifting perceptions about the coin's credibility.
> Floki Inu [FLOKI], another well-known meme coin, will also be listed alongside PEPE. However, it's important to note that both coins will be featured in Binance's Innovation Zone.

> The Innovation Zone is a specialized trading area where users can trade newly introduced and potentially volatile tokens, which may carry higher risks than other tokens.

Zimbabwe's Central Bank Unveils Gold-Backed Digital Token to Tackle Inflation

The Reserve Bank of Zimbabwe (RBZ) has called on individuals and financial institutions to participate in its upcoming gold-backed digital token launch, according to an announcement made on Thursday.
> The minimum subscription amount for individuals is set at $10, while financial institutions and corporations must subscribe for a minimum of $5,000.

> The RBZ revealed in April that these tokens, designed to counteract the country's unstable local currency, would be issued on May 8. Zimbabwe's inflation rate was recorded at 87.6% in March after reaching a staggering 285% in 2022.

> The central bank has divided the token's issuance and usage into two stages. In the first stage, tokens will be issued for investment purposes and sold through banks. Continue here.

AI-Generated Turbo Memecoin Skyrockets to $30 Million Valuation in Just One Week

The memecoin market is buzzing with excitement as the AI-assisted Turbo memecoin achieves a remarkable market capitalization of over $30 million within its first week.

> ChatGPT, an AI tool, played a crucial role in the coin's creation.

> Rhett Mankind, a digital artist, disclosed his use of ChatGPT and a modest $69 budget to conceive a memecoin capable of outperforming its rivals and securing a position among CoinGecko's top 300.

> In a YouTube video, Mankind explained that ChatGPT was instrumental in selecting the memecoin's name, branding, and even generating its smart contract code.

> Mankind's journey with ChatGPT started by choosing a name for the project. Full report here.

Binance Accounts Tied to Islamic State and Hamas Seized by Israel

Israeli authorities have confiscated nearly 190 cryptocurrency accounts on Binance since 2021, including two they claim are linked to the Islamic State and several others allegedly belonging to Palestinian firms associated with the Hamas group, according to documents released by Israel's National Bureau for Counter-Terror Financing (NBCTF).

> On January 12, the NBCTF seized two Binance accounts and their contents, as stated in one of the documents on their website.

> The objective of the seizure was to "disrupt the activities" of the Islamic State and "hinder its ability to further its objectives," as mentioned by the NBCTF.

> The document, which has not been reported previously, did not provide information about the value of the confiscated crypto or how the accounts were connected to the Islamic State. Details here.

UK's Financial Conduct Authority Targets Illegal Crypto ATMs

The Financial Conduct Authority (FCA), the UK's financial watchdog, is intensifying its efforts to combat unregistered crypto ATMs.

> In a statement released on Friday, the FCA reported that it had conducted inspections in Exeter, Nottingham, and Sheffield in collaboration with local police forces.

> These crypto ATMs, which allow users to convert fiat currency into digital assets, are perceived as a risk for money laundering, and none have been registered with the FCA as required by law.

> Therese Chambers, the FCA's Executive Director of Enforcement and Market Oversight, emphasized that operating crypto ATMs without FCA registration is illegal and that the authority will take action to halt such activities.

Memecoin Frenzy Sends Bitcoin Transaction Fees to a Two-Year High

Bitcoin transaction fees have recently soared, reaching a two-year high, as data from Crypto Fees reveals.

> On May 3, the total fees paid on the Bitcoin blockchain amounted to $3.5 million, marking a 400% increase since late April. YCharts data indicates that the average Bitcoin transaction fee peaked at $7.2.

> The ongoing memecoin trading craze, featuring coins like Pepe Coin (PEPE), has inadvertently pushed Bitcoin's transaction costs to multi-year highs.

> The current spike in BTC transaction fees is mainly due to a surge in Bitcoin activity involving BRC-20 transactions.

> As Galaxy Research data shows, on May 2, BRC-20 transactions accounted for 50% of all Bitcoin transactions.

Bitcoin Nears $30,000 Milestone as Memecoins Rally and Crypto Stocks Soar

Bitcoin is making yet another effort to break past the significant $30,000 mark, while memecoins continue their recent surge amid a growing appetite for risk in global asset markets.

> The leading cryptocurrency by market capitalization climbed up to 2.8% to approximately $29,690 during New York trading hours.

> As a result, Bitcoin, which has fluctuated around $30,000 for around a month, is on track for its second consecutive weekly gain.

> Ether, the second-largest token, surged by up to 6.5%, partly driven by a resurgence of interest in some of the most speculative tokens often traded on the Ethereum blockchain.

> Pepe, the token linked to a popular internet meme featuring a green anthropomorphic frog, more than doubled on Friday, as per data from CoinGecko.

> This increase has boosted the token's market value to over $1 billion, even though it still trades at a fraction of a cent.

> Stocks related to cryptocurrencies experienced a rally as well. Coinbase Global saw an 18% jump, its largest daily increase since February, after the leading US crypto trading platform reported better-than-expected revenue and a smaller loss for the first quarter.

> MicroStrategy, which announced a profit earlier in the week, thanks to a tax benefit, also enjoyed gains for a second day.