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𝓵𝓪𝓽𝓮𝓼𝓽 𝓷𝓮𝔀𝓼 𝓒𝓻𝔂𝓹𝓽𝓸, 𝓐𝓲𝓻𝓭𝓻𝓸𝓹𝓼, 𝓕𝓻𝓮𝓮 𝓔𝓪𝓻𝓷𝓲𝓷𝓰 𝓬𝓻𝔂𝓹𝓽𝓸 𝓸𝓷𝓵𝓲𝓷𝓮, 𝓔𝓪𝓻𝓷𝓲𝓷𝓰 𝓒𝓻𝔂𝓹𝓽𝓸𝓼 𝓖𝓸𝓮𝓼 𝓶𝓪𝓷𝔂 𝓦𝓪𝔂 𝓪𝓻𝓸𝓾𝓷𝓭 𝔀𝓸𝓻𝓵𝓭.

🍧 🎀 𝒟𝒶𝒾𝓁𝓎 𝐵𝓇𝑒𝒶𝓀𝒾𝓃𝑔 𝒩𝑒𝓌𝓈 🎀 🍧

By 𝘙𝘰𝘤𝘤𝘰 𝘞𝘺𝘢𝘵𝘵 | 𝔖𝔱𝔞𝔱𝔲𝔰 𝑜𝓃: 𝘓𝘪𝘷𝘦

🅽🅴🆆

👉BREAKING: Changpeng Zhao (CZ) resigns as CEO of Binance.

👉- Kraken crypto exchange says they will "vigorously defend" themselves against the SEC.

Why is the cryptocurrency market currently collapsing?

Just when investors thought the markets were on the mend, the markets delivered a rude awakening. The cryptocurrency market is collapsing today, with leading cryptos falling by double digits. There is still fear and panic as most cryptocurrencies have lost the gains they made last week. In 2022, the crypto markets have consistently traded one step forward and two steps back, and today's crash is no exception. Bitcoin fell nearly 8% on Friday, while Ethereum fell 5% and is expected to fall even further.

$550 million in cryptocurrencies have been liquidated from the markets in the last 24 hours. The overall crypto market cap has dropped nearly 7% to $1.09 trillion. The number of liquidations is expected to fall further as Bitcoin continues to fall.

1. Genesis Trading says it liquidated position of 'large counterparty' amid Three Arrows controversy;
2. Fed's Powell: A U.S. digital dollar could help maintain international primacy;
3. TRON DAO Reserve increases 300 million USDC supply on TRON;
4. Some stablecoins create risks to investors and potentially to the financial system: Fed Report;
5. FBI says crypto fraud on LinkedIn a ‘significant threat’ to platform and consumers;
6. Lido Finance warns leverage is a ‘hell of a drug’;
7. Meta partners with Balenciaga, Prada, and Thom Browne and launches digital fashion marketplace.
8. Outflows of $141M, investors seek refuge in multi-crypto investment products.
9. G-7 ministers urge speedy crypto regulations;
10. Terraform Labs has no tax liabilities in Korea, Do Kwon say.
11. Draft law about NFTs submitted to Russian parliament.
12. Near Protocol advises Terra community to migrate the Near ecological project from Terra

Today Headlines

• The New York Senate passes a moratorium on Bitcoin mining.💥
• OpenSea 'insider trading' could see NFTs labelled securities 💥
• Japan adopts a stablecoin legal framework
• CFTC charges Gemini over Bitcoin futures products' false claims.
• Coinbase suspends hiring and withdraws accepted job offers.🚨

𝓦𝓔𝓔𝓚 𝓗𝓔𝓐𝓓𝓛𝓘𝓝𝓔𝓢

By Adriana | 𝒫𝑜𝓈𝓉𝑒𝒹 𝑜𝓃: 06/𝟢6/𝟤𝟢𝟤2

Shiba Inu founder Ryoshi has deleted all his tweets and blog posts

ARK report: Bitcoin printes first ninth consecutive negative weekly decline in history, on-chain fundamentals remain strong.

3.Optimization issued OP governance token airdrop, 61.65% of OP tokens in Optimism's first airdrop were claimed.

#STABLECOIN

1. Mexican senator backs stablecoin MXNT. 2. Tether has had some of its reserves at obscure Bahamas bank. 3. Tether co-founder says TerraUSD collapse will ‘probably be the end’ of most algorithmic stablecoins. 4. Japan passes stablecoin bill that enshrines investor protection.

#LUNA

1. Terra Bridge V2 is now live on Terra mainnet. 2. Terra seeks to fix issue that some users received less airdropped LUNA than expected. 3. South Korean authorities subpoena all Terraform Labs employees for full investigation. 4. Do Kwon unlikely to face criminal charges in US, say legal experts. 5. Do Kwon may develop new stablecoin plans. 💥

#POLICY

1. Russia removes tax amnesty from drafted block reward mining bill. 2. South Korea's Digital Assets Committee, which oversees virtual assets, will be launched as early as June. 3. Biden administration formulates policy recommendations to lower crypto mining’s energy consumption. 4. New York State Senate passed two-year mining suspension bill. 5. El Salvador still not ready to launch Bitcoin bond, finance minister says. 📉

#CRYPTOCURRENCY

1. Optimization has officially issued OP governance token airdrop, 61.65% of OP tokens in Optimism's first airdrop were claimed. 2. The addresses holding Bitcoin for more than 1 year have added 250,000 BTC since Terra's crash. 3. Ethereum Ropsten testnet selectes TTD for the Ropsten Merge. 4. Ethereum core developers say they have launched a new beacon chain, which is expected to be merged on the Ropsten network around June 8, thus switching to PoS consensus. 5. Vitalik Buterin: Optimism's governance system makes me proud. 6. ARK report: Bitcoin printes first ninth consecutive negative weekly decline in history, on-chain fundamentals remain strong. 7. Bloomberg strategist: Bitcoin will be one of ‘best assets on Earth’ after inflation subsides. 8. Vitalik Buterin: Opposes banning PoW, proposes carbon pricing.

#NFT

1. DC Comics Launch Their Own NFT Marketplace. 2. Animoca Brands announce acquiring NFT game development company Notre Game. 3. BAYC confirms Discord attack, about 200 ETH worth of NFTs stolen.

#METAVERSE

1. South Korea to invest $177 million directly in metaverse platforms. 2. The Sandbox partners with Jamiroquai to get funky in the metaverse. 3. People ‘lost interest’ in metaverse, says Epic Games exec. 4. DeLorean Motor Co. files trademark applications for Metaverse and NFT.

#DEFI

1. German central bank’s executive: DeFi 'casino' may need new global regulator. 2. Singapore will investigate potential uses of asset tokenization and DeFi. 3. BIS says DeFi ledgers can help regulators oversee sector.

#FUNDING

1. DeFi platform QUINT received $25 million from Galaxy Racer. 2. Morgan Stanley: Crypto firms raised $30 billion in VC funding last year, and trading activity is likely to slow this year. 3. SoftBank, GGV Lead $66M Round for Web 3 Infrastructure Firm InfStones.

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Crypto News

May 11, 2022, 18:05 PM

Luna's BTC reserves have vanished as exchanges halt UST withdrawals in the midst of a turbulent 24 hours

May 11, 2022, 19:05 PM

As the price of Terra UST Stablecoin continues to fall, a supporter says a rescue plan is in the works

PREVIOUS BREAKING NEWS

May 11, 2022, 5:05 AM

1. El Salvador bought 500 BTC at an average price of $30,744;
2. Luna Foundation replenished UST reserves with 28,205 BTC;
3. Anchor Protocol's UST deposits plummet from $14B to $7.874;
4. Nyan Heroes raises $7.5M to develop play-to-earn game;
5. Galaxy Digital CEO: Crypto market recovery won't happen in next two months;
6. MechaFightClub completes $40 million Series A financing, led by a16z;
7. Yearn website introduces new features to increase security against "man-in-the-middle" attacks;
8. Arianee raises €20m Series A, led by Tiger Global.

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