Hello Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Friend.tech v2 Airdrop: Friend.tech's upcoming version two launch and airdrop has sparked controversy due to leaked smart contract details raising questions about the platform's commitment to its anti-VC ethos.

2. LayerZero Airdrop Snapshot: LayerZero's completion of the first snapshot for its upcoming airdrop signifies progress in enhancing cross-chain interoperability. The distribution of its native token, ZRO, via airdrop reflects the project's inclusive approach to decentralized finance (DeFi) and its potential to unlock new opportunities within its ecosystem. Anticipation is high for LayerZero's disruptive potential, as indicated by the potential fully diluted valuation (FDV) of $17 billion for ZRO.

3. India Cracks Down on Crypto Scam: The Enforcement Directorate (ED) in India, in collaboration with leading crypto exchanges, seized over $10.5 million linked to the E-Nugget scam app, highlighting efforts to combat online scams leveraging cryptocurrencies. The crackdown underscores the crucial role of crypto exchanges in preventing illicit activities and upholding regulatory integrity, with blockchain technology aiding in tracking and freezing illicit funds.

4. 💡Feature of the Day - Microsoft Invests $2.2B in Cloud and AI: Microsoft's $2.2 billion investment in Malaysia aims to accelerate digital innovation and economic growth, bolstering cloud and artificial intelligence (AI) infrastructure. The establishment of a "national AI Center of Excellence" underscores efforts to nurture talent and foster innovation, positioning Malaysia as a regional hub for technology and innovation.

5. 🫨 What’s Buzzing? - Do you lend or borrow crypto often? MilkyWay platform might be for you, and they’re giving away %10 of it’s $MILK tokens soon! If you wanna take part , read UseTheBitcoin’s latest article “MilkyWay ($MILK) Airdrop Guide (Airdrop Soon)” for a more detailed information!

   
   All this and more in today’s headlines!

📰 News Highlights:

🛸 Friend.tech v2 Airdrop [Source][Source]

As Friend.tech gears up for its version two launch and accompanying airdrop, leaked smart contract details have stirred controversy within the crypto community. The revelation suggests the potential introduction of nontransferable tokens, a move that could fundamentally alter the dynamics of the platform's ecosystem.

According to decentralized finance researcher CBBOFE, the airdropped token, dubbed $POINT, may carry restrictions on transferability, limiting users' ability to freely trade or exchange the coins except for specific whitelisted addresses. This unexpected development has raised eyebrows, especially considering the platform's previous stance against traditional venture capitalist approaches.

The new token, POINTS, is slated to serve as a utility token facilitating the creation of social clubs on the platform, with each creation incurring a 1.5% platform fee. Additionally, users staking their Ether and POINTS tokens will receive rewards in the form of the new tokens, further integrating POINTS into Friend.tech's ecosystem.

🌐 LayerZero Airdrop Snapshot [Source][Source]

LayerZero's completion of the first snapshot for its upcoming airdrop signals a significant milestone in the project's journey towards enhancing cross-chain interoperability.

As the crypto space continues to evolve, LayerZero's efforts to incentivize early adoption through airdrops reflect its commitment to fostering community engagement and participation.

The imminent launch of LayerZero's native token, ZRO, holds the promise of unlocking new opportunities for users within the LayerZero ecosystem. With ZRO poised to play a pivotal role in facilitating seamless cross-chain transactions, its distribution via airdrop underscores the project's inclusive approach to decentralized finance (DeFi).

👮‍♂️ India Cracks Down on Crypto Scam [Source][Source]

The recent collaboration between the Enforcement Directorate (ED) and leading crypto exchanges such as Binance, ZebPay and WazirX in India marks a significant milestone in the fight against online scams leveraging cryptocurrencies.

The seizure of over $10.5 million linked to the E-Nugget scam app underscores the crucial role of crypto exchanges in combating illicit activities and safeguarding investor interests.

By leveraging blockchain technology, law enforcement agencies can effectively track and seize illicit funds, thereby deterring fraudulent actors from exploiting digital assets for nefarious purposes.

💡 Feature of the Day: 

💼 Microsoft Invests $2.2B in Cloud and AI [Source][Source]

Microsoft's landmark $2.2 billion investment in Malaysia represents a transformative step towards accelerating digital innovation and fostering economic growth in the region.

By bolstering cloud and artificial intelligence (AI) infrastructure, Microsoft aims to empower businesses and individuals with cutting-edge technologies, driving progress and prosperity.

The establishment of a "national AI Center of Excellence" in collaboration with the Malaysian government underscores Microsoft's commitment to nurturing talent and fostering innovation.

Through targeted skilling initiatives and capacity-building programs, the initiative seeks to equip 200,000 individuals with the necessary skills to thrive in an AI-driven economy.

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🫨 What’s Buzzing?:

🌌 MilkyWay ($MILK) Airdrop Guide (Airdrop Soon)

MilkyWay offers a liquid staking solution for the Celestia blockchain network. The project plans to distribute 10% of its $MILK tokens to users in Q2 2024.

What is MilkyWay?

• MilkyWay is a liquid staking project on the Celestia blockchain, providing users with the ability to stake their Celestia tokens (TIA) and receive liquid staking tokens (milkTIA) in return.

• Liquid staking allows users to trade their staked tokens while still earning staking rewards, facilitating participation in DeFi activities.

How to Qualify for the Airdrop:

• MilkyWay confirmed an airdrop, allocating 10% of the total $MILK supply for distribution in Q2 2024.

• To participate:

  • Requirements include a Keplr Wallet and Celestia (TIA) tokens.

  • Visit MilkyWay's staking page and stake TIA tokens into milkTIA.

  • Interact with DeFi applications listed on MilkyWay's platform.

Additional factors like staking duration or interaction with DeFi applications using milkTIA might influence the airdrop amount, although official details are pending confirmation. To know more about MilkyWay and it’s airdrop, read UseTheBitcoin’s latest article “MilkyWay ($MILK) Airdrop Guide (Airdrop Soon)”🚀

😂 Crypto Meme of the Day: 

And that’s it for this today.

With all of the recent hacks taking place, remember to protect your crypto assets with today’s sponsor Trezor hardware wallets.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com