Welcome to the OLE777 – Asia 1st Multiplatform Crypto Gaming Daily Crypto section Oct 10th. Today, the crypto industry was shocked by Cardi B’s post about promoting the WAP token that linked to the scam token. Alongside, great news comes from the Palau Government for introducing new blockchain technology for saving bonds and Samsung Pay integrated with Alchemy Pay offering cryptocurrency payment.

Let’s dig deep into the details!

Cardi B Promoted Scam Token WAP

A crypto wallet address promoted by rapper Cardi B for the WAP token has been linked to a known scammer. On Oct. 8, Cardi B’s official X account shared a post about WAP, a cat-themed memecoin, along with a wallet address. Crypto investigator Wazz discovered that the address was connected to multiple scam projects.

PeckShield, a crypto investigation firm, speculated that Cardi B’s X account might have been hacked. However, Wazz dismissed this theory, stating that the WAP promotion was likely pre-planned, pointing to several previous posts about the token.

Despite the project’s legitimacy being questioned, the crypto community remains wary due to the frequent scams tied to celebrity tokens. Data platform BubbleMaps revealed that 60% of WAP tokens were bundled at launch, with about $500,000 in tokens dumped shortly after.

Read more: FTX Bankruptcy: Aims to Repay Customer’s Asset

Samsung Pay x Alchemy Pay: Support Cryptocurrency to Pay Netflix, Amazon, etc

Alchemy Pay has integrated its virtual cards with Samsung Pay, offering a new way for users to make cryptocurrency payments. This update comes shortly after Alchemy Pay’s recent integration with Google Pay.

With this integration, around 500,000 users of Alchemy Pay’s virtual crypto cards can now make payments using Samsung Pay, both in physical stores and online. Popular platforms such as Amazon, Netflix, Facebook, and the Apple Store are now accessible for payments through the virtual cards.

To start, users can visit the Alchemy Pay website, check if their card is compatible, and then link it with Samsung Pay to begin making crypto transactions. Alchemy Pay also plans to expand its support to more platforms and integrate with major networks like Visa and Mastercard.

Read more: Buterin Effects: Memecoin Inspired by Viral Thai Zoo Hipo Price Surged Almost 500%

Palau Government Uses Blockchain for Saving Bonds

The government of Palau has introduced a new blockchain-based system called Palau Invest, designed for savings bonds. The prototype is now complete, and a public demo has started. The project is backed by Japan’s Ministry of Economy, Trade and Industry, along with the Soramitsu blockchain, and aims to raise funds for infrastructure projects.

Before launching fully, the Finance Ministry must set bond issuance rules and get government approval. Palau’s citizens, around 18,000 people, will be able to purchase bonds through a mobile app. President Surangel Whipps Jr. noted that this initiative will help finance critical projects like housing, road development, and small businesses.

The bonds will use the Hyperledger Iroha 2 blockchain through the Sora v3 Hub Chain platform, with technical support from Soramitsu, which is involved in other Southeast Asian blockchain projects like Cambodia’s Bakong digital currency.

Palau also has a stablecoin project with Ripple and a digital residency program that uses blockchain-based IDs with KYC verification launched on the BNB Chain in 2022.