Crypto Daily Digest - May 10th

TI Research

On May 10th, the algorithmic stablecoin $UST was severely decoupled, falling to $0.6 at one point. LFG used 28,205 $BTC to replenish the $UST reserve. The Director of Research at The Block tweeted rumors of $2 billion from Jump, Alameda, and others to bail out $UST. Half a day later, $UST price recovered to around $0.9. Azuki's founder admitted running 3 NFT projects in the past year and Azuki floor price dropped to $10 $ETH at one point. KuCoin closes $150M Series B at $10B valuation, led by Jump Crypto.

DeFi

  • Luna Foundation replenishes $UST reserves with 28,205 Bitcoin. Source
  • Bancor V3 mainnet to launch in 28 hours. Source
  • Terra founder Do Kwon tweeted that he will announce a recovery plan for $UST soon. Source
  • El Salvador bought another 500 bitcoins at an average price of $30,744. Source
  • LFG's Bitcoin address transferred 28,205.5 Bitcoins. Source
  • Frog Nation's former CFO 0xSifu has converted 3.88 million $UST. Source
  • Lido Finance will launch liquid staked $DOT on the Moonbeam Network. Source
  • Boba Network enables $BOBA as Gas token. Source
  • RSS3 staking website launched with 20m $RSS3 to be rewarded. Source
  • Lending protocol Tarot has been deployed on Optimism. Source
  • Binance becomes exclusive crypto sponsor of Brasileirão. Source
  • All 14 projects in the Arbitrum Odyssey campaign are finalized. Source
  • The Block research director: rumors of $2 billion from Jump, Alameda, and others to bail out $UST. Source
  • The price of the algorithmic stablecoin $UST has recovered to $0.91. Source
  • The sUSD-3crv pool for Curve on Optimism has opened for incentives. Source
  • StarkNet ecosystem DEX Starkswap launches Iron Fleet with yearn.finance. Source
  • Fallen Angels, the Solana-based NFT marketplace, announces the launch of its $ANGEL token airdrop. Source
  • Luna Foundation Guard to issue $1.5 billion in loans to help stabilize its $UST stablecoin. Source
  • ARK Invest's Cathie Wood says crypto nearing end of bear market, predicts explosion in blockchain technology. Source

Policy & Regulation

  • Venezuela bets on de-dollarization after foreign currency and crypto tax is applied. Source
  • The U.K. promises new laws to promote and regulate cryptocurrency. Source

NFT

  • Pop singer Madonna to collaborate with Beeple on NFT. Source
  • Azuki floor price is now back up to 16.5 $ETH. Source
  • Hashflow to snapshot Hashflow NFT holders on May 10. Source
  • Azuki founder admits running 3 NFT projects in the past year. Azuki floor price once dropped to 10 $ETH. Source
  • KuCoin's NFT marketplace Windvane announced that it will launch Genesis NFT collection. Source
  • DeFi+NFT experimental platform Cart.Finance v2 launched at 12pm UTC on May 10th. Source

Fundings

  • Public chain Flow launches $725 million ecosystem fund backed by a16z, HashKey Capital and more. Source
  • NFT startup Co:Create raised $25m in Seed Round led by a16z. Source
  • KuCoin raises $150m round led by Jump Crypto at $10b valuation. Source
  • Binance Labs makes a strategic investment in liquid staking protocol pSTAKE. Source
  • Xangle closed $17 million Series B funding round led by KB Investment and others. Source
  • African Web3 app company Jambo announced that it has raised $30m in Series A led by Paradigm. Source
  • Solana-based P2E game Nyan Heroes closed a $7.5 million strategic funding round at a $100 million valuation. Source
  • NFT company Arianee raised $21m in funding led by Tiger Global. Source
  • NFT project Freeverse closed $10.5 million round in financing with participation from Earlybird Venture Capital. Source
  • Metaverse co-creation platform StarryNift raised $10m in funding with participation from Binance Labs, Alameda Research and others. Source
  • Talos closed a $105 million Series B round of funding at a $1.25 billion valuation with participation from a16z and others. Source
  • Web3 startup Naetion secures $150m investment from GEM Digital. Source
  • CoinDCX announces ₹100-crore fund to invest in Web3 start-ups. Source
  • Fuse Labs receives $5 million investment from publicly traded digital asset Firm, Tectona. Source
  • Opn closed around $120 million in Series C+ funding with participation from Mitsubishi UFJ Bank and others. Source

Terra

Stablecoins

Bitcoin

NFT

KuCoin

TI Research

TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.