Crypto Daily Digest - May 11th

TI Research

May 11th was a historic day. $UST unpegged was difficult to resume and fell below $0.3 at one point. The Block's research director said LFG's over $1 billion funding plan failed. $LUNA also fell rapidly into a death spiral, briefly dropping below $1. Do Kwon said he would adjust $UST mechanism to be collateralized. Later, it was reported that he was one of the anonymous co-founders behind the failed algorithmic stablecoin project Basis Cash.

DeFi

  • Do Kwon was one of the pseudonymous co-founders behind the failed algorithmic stablecoin Basis Cash. Source
  • Changpeng Zhao Tweeted Binance P2P Trading is Currently in Maintenance Mode. Source
  • The Block's Director of Research Larry Cermak said on social media that LFG's plans to raise over $1 billion have failed. Source
  • $LUNA drops to $2.22, 24H down 92.43%. Source
  • Do Kwon tweets that he will adjust the $UST collateral mechanism. Source
  • Data: $LUNA circulating supply adds 104,592,224 today. Source
  • Optimism launches new bridge Warp Speed. Source
  • South Korean crypto trading platform Upbit added $LUNA to its cautionary investment program. Source
  • Hacked stablecoin Beanstalk seeks to borrow $77 million to revive itself. Source
  • Coinbase files Shelf Registration Statement with the SEC. Source
  • Coinbase announced Q1 results with $430m net loss. Source
  • Anchor Protocol launches community proposal to lower maximum deposit rate to 5.5%. Source
  • $UST drops to $0.36, 24H drops over 58.65%. Source
  • Russian independent news agency Meduza has received over $250,000 in Cryptocurrency donations. Source
  • Kadena based DEX Kaddex will launch in June. Source
  • Decentralized exchange dYdX launches iOS app for public. Source
  • Coinbase execs dismiss talk of Robinhood acquisition. Source
  • Reddit introduces new team ‘X’ to help with the inclusion of new features such as blockchain support. Source
  • SEC Chief accuses cryptocurrency exchanges of trading against customers. Source

NFT

  • Immutable X is integrating its global order book into the GameStop NFT marketplace. Source
  • Google's first search result for x2y2 is a fraudulent site. Source
  • The minting link in hacktivist Discord is a phishing link. Source
  • Azuki founder will transfer full control of 3 project contracts to community. Source
  • Ethereum sidechain SKALE will launch community run NFT Hub Calypso. Source
  • NFT marketplace LooksRare will start $LOOKS emission phase 3 on May 11th. Source
  • Binance NFT Marketplace will perform a scheduled system upgrade for the NFT deposit feature on May 12. Source
  • Amber Group announces Q3 2022 launch of Openverse, the gateway into the Metaverse. Source

Fundings

  • Play-to Earn game Branch raised $12.5m in seed round, with participation from Dragonfly Capital, Polychain, Coinbase Ventures, Three Arrow Capital and others. Source
  • Chainalysis valued at $8.6 billion in GIC-led investment. Source
  • Investment platform Republic plans to raise $700 million for crypto-focused fund. Source
  • Fireside to launch $100 million creators fund with SKALE. Source
  • Web3 development platform Moralis closed $40 million Series A funding round with Coinbase Ventures and others. Source
  • Crypto startup Lighthouse Labs has closed a $7 million seed round led by Animoca Brands and others. Source
  • Pan-Africa crypto exchange Mara raised $23m participated by Coinbase Ventures, Alameda Research, FTX and others. Source
  • Crypto startup Chainflip Labs has closed a $10 million round of funding from Pantera Capital and others. Source
  • Crypto payment processing company Paper raised $7.3m in seed round co-led by Electric Capital and Initialized Capital. Source
  • Web3 community platform Highlight raised $11m in seed round led by Haun Ventures. Source
  • UK money manager Fasanara is raising a new crypto and fintech fund. Source
  • CBOE completes acquisition of ErisX. Source
  • Gate.io leads $10 million Series A funding for Stanhope Financial Group. Source
  • Crypto wallet provider Casa closes $21 million in funding led by Acrew Capital. Source

Terra

Do Kwon

Stablecoins

Event

TI Research

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