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Crypto Daily Digest - May 16th

TI Research
Crypto Daily Digest - May 16th Source: Luna Foundation Guard

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.

DeFi

  • 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

NFT

  • 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

Fundings

  • Crypto trading platform Voyager Digital announced that it raised $60m in a private placement offering led by Alameda Research. Source
  • a16z announces investment in Web3 gaming company Metatheory's Series A. Source
TerraStablecoinsBitcoina16z
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