Crypto Daily Digest - May 16th
On May 16th, LFG announced the use of reserve funds and its advisor Remi Tetot tweeted that LFG balance reserves are coming. The priority is to amend small wallets, builders and stakers. Stablecoin $DEI has depegged. Lending protocol Scream left with $35 million bad debt after quoting depegged stablecoins at $1. 44 countries will meet in El Salvador to discuss Bitcoin rollout. El Salvador to hold conference to discuss Bitcoin rollout, with 44 countries set to attend. a16z announces investment in Web3 gaming company Metatheory's Series A.
- Changpeng Zhao says he will support priority compensation for smaller $UST holders. Source
- LFG announces use of reserve funds and currently has only about $87 million in asset reserves left. Source
- The Block's director of data research: Jump Crypto loses hundreds of millions of dollars from this $UST depegged event. Source
- LFG's remaining 313 $BTC have been transferred to the LFG Foundation address. Source
- LFG balance reserves coming with small wallets compensated first. Source
- No deals for any 'insiders' to exit, says LFG. Source
- Solana ecosystem lending protocol Hedge will launch mainnet beta on May 19 at 17:00 UTC. Source
- PeckShieldAlert tweeted that $DEI has been severely unpegged. Source
- Polygon Studios is helping Terra projects migrate to Polygon. Source
- Do Kwon complements LFG's $BTC and $AVAX reserve uses in rebuilding Terra program. Source
- Lending protocol Scream left with $35 million bad debt after quoting depegged stablecoins at $1. Source
- Public Chain Aptos launched incentivized testnet registration. Source
- $FEG suffers flash loan attack on Ethereum and BNB Chain. Source
- Venus restored deposit and withdrawal operations, users who have $UST and $LUNA as collateral need to supply collateral to prevent liquidation. Source
- Data: Bitcoin number of addresses receiving from exchanges just reached a 11-month high. Source
- Data: Current network-wide DeFi TVL has fallen to $115.9 billion. Source
- $UST drops to $0.085, 24H down 54.66%. Source
- Justin Sun says he will compensate 236,000 smaller $UST holders with 10 million $USDD. Source
- Ronin attacker-related address transferred 3,003 $ETH to Tornado.Cash. Source
- Grayscale announces the launch of its first European ETF. Source
- Ethereum Layer2 total Volume fell below $5 billion, down 14.66% in 7 days. Source
- Korean financial authorities have conducted an urgent movement check on the $LUNA incident and will expedite the formulation of the Basic Act on Digital Assets. Source
- Vitalik Buterin favors the proposal that Terra should prioritize compensation for small wallets of $UST. Source
- Changpeng Zhao said Binance had received 15 million $LUNA as part of the original investment in Terra, and had 12 million $UST from staking. Source
Policy & Regulation
- ECB will be ideally ready to issue the digital euro within four years. Source
- 44 countries will meet in El Salvador to discuss Bitcoin rollout. Source
- Portugal's Finance Minister plans to tax crypto. Source
- The Sandbox will airdrop 5 million $SAND to all LAND holders in May. Source
- Square Enix plans to issue tokens and invest heavily in Web3 gaming. Source
- STEPN released version 0.6.6 with new features such as dual authentication. Source
The news, articles, reports or other information we provide are based on public sources considered to be reliable, but TokenInsight does not guarantee the accuracy or completeness of any information contained herein. The news/articles/reports or other information had been prepared for informative purposes only and does not constitute an offer or a recommendation to purchase, hold, or sell any digital assets (cryptocurrencies, coins, and tokens) or to engage in any investment activities. Any opinions or expressions herein reflect a judgment made as of the date of publication, and TokenInsight reserves the right to withdraw or amend its acknowledgment at any time in its sole discretion. TokenInsight will periodically or irregularly track the subjects of news/articles/reports or other information we provide to determine whether to adjust the acknowledgement and will publish them in a timely manner.
We adhere to high standards and values of reporting news, and we do our best to be objective and unbiased at all times.
TokenInsight takes its due diligence to ensure news/articles/reports or other information we provide a true and fair view without potential influences of any third party. There is no association between TokenInsight and the subject referred in the contents which would harm the objectivity, independence, and impartiality of the reporting.
Trading and investing in digital assets (cryptocurrencies, coins, and tokens) may involve significant risks including price volatility and illiquidity. Investors should be fully aware of the potential risks and are not to construe the content of the report as the only information for investment activities. None of the products or TokenInsight Inc, nor any of its authors or employees shall be liable to any party for its direct or indirect losses alleged to have been suffered on account thereof.
All rights reserved to TokenInsight.