Crypto Daily Digest - May 16th

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