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TerraUSD crash brings regulatory attention back to crypto markets

 The impact of the Terra USD (UST) crash has spread outside the crypto space, and regulation has drawn attention back to the crypto market.

On May 8, the US dollar algorithm stable currency UST running on the Terra blockchain experienced a significant de-anchoring. UST, which was originally equivalent to 1 US dollar, fell to a minimum of US$ 0.04 within 5 days, and the de-anchoring rate was as high as 97.7%, which was related to the issuance of UST. The "sister coin" LUNA of LUNA once fell to $0.000001 and returned to zero. On April 5 this year, the market price of LUNA reached $119.

“The collapse of TerraUSD and other tokens provides the impetus for lawmakers to accelerate crypto regulation.” This prediction of Jeremy Allaire, CEO of the crypto firm Circle, has come true.

On May 17, South Korea’s Financial Services Commission (FSC) and Financial Supervisory Service (FSS) launched an emergency inspection of local cryptocurrency exchanges.

The Federal Reserve mentioned stablecoins in its latest financial stability report, after the U.S. Treasury Department revisited stablecoin legislation and the U.S. Securities and Exchange Commission (SEC) reaffirmed investor protection principles after the TerraUSD crash.

In Europe, on May 10, the UK Treasury confirmed that it will regulate stablecoins to the extent that they support innovation, but exclude algorithmic stablecoins. On May 17, the governor of the Bank of France revealed that the regulatory issue of cryptocurrencies will be discussed at the Group of Seven (G7) meeting held in Germany in the near future.

South Korean regulators urgently inspect exchanges

A week after the collapse of TerraUSD (UST) and LUNA, South Korea’s financial regulator launched an “emergency inspection” on the country’s cryptocurrency exchange operators to strengthen investor protections, Yonhap News Agency reported on May 17.

UST and LUNA run on the Terra blockchain, which circulates in the global crypto asset market. Terraform Labs, the company behind the blockchain network, is registered in Singapore, but because its founder and CEO Do Kwon is Korean, Terra was banned. It bears a deep Korean stamp. It is speculated that there are more than 200,000 Korean investors in TerraUSD and LUNA.

Yonhap News Agency reported that South Korea’s Financial Services Commission (FSC) and Financial Supervisory Service (FSS) asked local cryptocurrency exchange operators to share transaction information with UST and LUNA, including transaction value, closing price, and transaction volume. Yonhap News Agency quoted sources as saying that the two regulators asked exchanges to provide countermeasures against the UST crash and analyzed and quoted.

“Last week, the financial authorities asked for data on trading volumes and investors, and assessed the relevant measures of the exchange,” a local exchange source told the media on condition of anonymity. s damage."

In a meeting with senior officials, the head of the FSS, Jeong Eun-bo, said that the recent collapse of the crypto market could erode trust in the entire market and cause damage to investors, and regulators should figure out its exact cause and impact. He emphasized that, given the nature of crypto-assets that are mainly traded overseas, there is a need to strengthen relevant cooperation and discussions with foreign authorities to effectively regulate the market.

Questions about Terraform Labs have also begun to appear in South Korean politics.

On May 17, local media reported that after the collapse of the UST, Yun Chang-Hyun, a representative of South Korea's ruling National Power Party, called for a parliamentary hearing on the TerraUSD (UST) risk, saying, "We should include Terra, which has recently become an issue. CEO Do Kwon and executives of the exchange were brought to the National Assembly, which is South Korea's legislature, for a hearing on the reasons for the situation and measures to protect investors.

Yun Chang-Hyun accused some exchanges of taking advantage of the UST crash for profit, "Coinone, Korbit and Gopax stopped trading on May 10, Bithumb stopped trading on May 11. But Upbit didn't stop trading until May 13, which was the UST crash. The company that finally stopped trading was the largest company with an 80% (Korean market) share, and earned nearly 10 billion won (note: equivalent to $8 million) in commission income in just 3 days.”

Do Kwon, who has yet to respond to inquiries from within South Korea, is busy restoring confidence in Terra. On May 16, he publicly proposed to fork the Terrara blockchain on Twitter. The proposal will be submitted to the community for a governance vote on May 18.

U.S. and U.K. reintroduce stablecoin regulation

On May 17, news from Reuters showed that the Governor of the Bank of France, Francois Villeroy de Galhau, said that the Group of Seven (G7) meeting in Germany this week The regulation of cryptocurrencies is likely to be discussed at the finance ministers meeting.

G7 finance ministers and central bank governors will meet in Germany on May 18-20. Representatives from the U.S., Canada, Japan, Germany, Italy and the U.K. are likely to speak on an issue related to the regulatory framework for cryptocurrencies, Villeroy said.

There is speculation that the G7’s focus on the crypto market may be related to the negative impact of the UST collapse, as Villeroy bluntly stated at the emerging markets conference in Paris, “The disorderly development of cryptocurrencies (including the misnamed stablecoins) Leading to the risks posed by private currencies … what has happened recently is a wake-up call to the urgent need for global regulation,” he stressed that if cryptocurrencies are not regulated and overseen in a consistent and appropriate manner across jurisdictions, they could disrupt international financial system.

In fact, financial regulators in many countries, including the United States and the United Kingdom, have refocused on stablecoins, with particular emphasis on the principle of investor protection.

Last week, U.S. Treasury Secretary Janet L. Yellen made a direct reference to TerraUSD. The fate of the UST, she said, underscores the need for the legislative branch of Congress to consider a proposal from the Treasury Department last fall to impose bank-like regulatory requirements on issuers of stablecoins.

For a long time, the crypto industry has been very concerned about the legal applicability of the US regulators to the regulation of crypto assets, and the collapse of the UST may cause the regulators to step up their actions.

It is reported that a number of stablecoin regulatory proposals are circulating in Congress, and crypto industry leaders are turning their attention to a more comprehensive bill establishing a crypto regulatory framework. Sources told the media that in order to protect consumer safety, the relevant bill may kill tokens such as UST.

A U.S. Treasury Department source told the media that regulators with enforcement powers will not necessarily wait for lawmakers to act. On May 16, the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stated that he will continue to act as a “police” for the crypto asset market because “the investing public is not well protected.”

Todd Phillips, director of financial regulation and corporate governance at the Center for American Progress, also pointed out that existing financial regulation laws can and should be used to address the harm caused by stablecoin risks to investors, because historically, Congress has and financial regulators have taken the case to protect banks and money market funds from runs, "In 1933 Congress effectively barred entities from taking demand deposits unless they were chartered or regulated like banks, and the SEC has always Money market funds enjoy a high degree of regulatory power.”

Phillips suggested that, given the structure and operational mechanics of stablecoins such as UST, if issuers of stablecoins wanted to operate in the U.S. and issue a dollar-pegged token, they would either obtain a bank charter to become a state or federally regulated depository institution , or register as a regulated money market fund. Violating the former is a criminal offense, and the U.S. Department of Justice can take enforcement action against stablecoin issuers; violating the latter falls within the SEC’s enforcement scope.

Compared with the US authorities, the UK's regulation of stablecoins has been targeted. On May 10, the U.K. Treasury announced plans to move forward with stablecoin regulation, saying it was open to regulation of “stablecoins for payment purposes,” excluding algorithmic stablecoins because they were not stable.

A Treasury spokesman said the government has made it clear that certain stablecoins are not suitable for payment purposes because they share characteristics with unsecured cryptoassets. further regulatory action.” Currently, the UK only allows a limited number of crypto asset operators to operate locally.





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Painter Huang Yongyu's NFT digital collection sold for a total sale of 2.37 million

 Golden Finance reported that the 98-year-old painter Mr. Huang Yongyu sold a total of 2.37 million NFT digital collections. Huang Yongyu's digital art "Zodiac" series is a Chinese painting work created by the famous artist Huang Yongyu since 2006. Recently, Baidu Baike Art Project and artist Huang Yongyu jointly launched the digital collection NFT of the "Zodiac" series on Baidu APP during May 12-14, 2022. The digital collection NFT of the "Zodiac" series comes from Baidu Super Chain. The form of digital collections is long recorded and goes international.

Seller may sell BAYC for 200 USDC due to wrong quotation #6462

 On May 15th, according to Boredapebot monitoring, someone sold BAYC #6462 for only 200 USDC ($200). BAYC is one of the most expensive series of NFTs on the market, and OpenSea data shows that its floor price is currently 101.75 ETH (about $210,000). Considering that BAYC #6462 has some of the rarest properties, including a bone necklace, police motorcycle helmet and boring pizza, the sale may have been a misnomer. It is speculated that the former owner may have taken the offer of 200 USDC as 200 ETH. While some crypto users sympathized with the seller, many strongly believed it was a tax evasion scheme given the circumstances surrounding the deal. OpenSea’s trading history shows that the NFT was sold for no less than 2 ETH ($7,000) on several occasions about a year ago. It also shows that since BAYC #6462 was minted, it has been transferred between different wallets at least five times. In addition, the buyer only created an account with OpenSea this month, and its offer was accepted minutes after it was received. (Crypto Potato)


Regulators in five U.S. states ask to shut down Russia-linked Metaverse casinos

 On Wednesday, regulators in five U.S. states issued an emergency order requiring a Metaverse casino allegedly linked to Russia to immediately stop selling its NFTs, citing fraud, deception and registration violations, Golden Finance reported. The five states are Alabama, New Jersey, Texas, Kentucky and Wisconsin. The regulator said the operator of the Flamingo Casino Club took steps to "use a false office address, provide an out-of-service phone number, (and) hide its physical location and hide information about its principal. data.” (coindesk)

Musk reportedly plans to get new financing for Twitter acquisition without a margin loan

 On May 13, according to people familiar with the matter, Musk is in talks to raise enough equity and preferred stock financing for his plan to buy Twitter, so that he does not have to use Tesla stock as collateral for a margin loan. Musk’s advisers, led by Morgan Stanley, have begun to understand potential investor interest in a preferred stock financing plan of up to $6 billion, people familiar with the matter said. Musk initially arranged a $12.5 billion margin loan as part of a $44 billion acquisition of Twitter. Margin lending halved to $6.25 billion after it disclosed that it had secured about $7.1 billion in new financing commitments. Musk has since received a further $1 billion in equity commitments. Further equity and preferred stock financing could make margin loans unnecessary. (Golden Ten)

Data: The Ethereum network has currently destroyed 2.311 million ETHs

 According to data from Ultrasound, a total of 2,311,025.72 ETHs have been destroyed on the Ethereum network so far. Among them, OpenSea destroyed 230048.22 ETH, ETHtransfers destroyed 212759.15 ETH, and UniswapV2 destroyed 131452.85 ETH. Note: Since the introduction of EIP-1559 in the Ethereum London upgrade, the Ethereum network will dynamically adjust the BaseFee of each transaction according to the transaction demand and block size, and this part of the fee will be directly burned and destroyed.

    DeFi lock-up on Terra falls to $1.63 billion

    According to DefiLlama data, the current DeFi lock-up volume on the Terra chain has dropped to $1.63 billion, a decrease of 23.36% in the past 24 hours. It still ranks 9th in the public chain. Currently, the top 3 DeFi lock-ups on the Terra chain are: Anchor ($1.01 billion, down 62.21% in the past 24 hours), Mirror ($109 million, down 51.90% in the past 24 hours), PylonProtocol ($92.62 million, 41.76% decrease in the past 24 hours).


    LFG Seeks Over $1 Billion to Back UST Stablecoin

     The Luna Foundation Guard (LFG) group is seeking to raise more than $1 billion to support the UST algorithmic stablecoin after it lost parity with the U.S. dollar, according to three people familiar with the matter. Algorithmic stablecoins like UST are meant to maintain a one-to-one peg to the price of an underlying fiat currency like the U.S. dollar. But shares in UST fell as low as $0.61 on Monday before recovering to $0.91 amid a broader sell-off in the cryptocurrency market. The group is now looking to raise fresh capital from some of the biggest investment firms and market makers in the industry, the sources said. The agreement, currently under negotiation, offers investors the opportunity to purchase LUNA tokens at a 50% discount, although the tokens will be subject to a two-year redemption schedule. As previously reported, LFG announced on Monday that it had lent $1.5 billion worth of Bitcoin and UST to third-party trading firms. LFG initially sought to buy up to $10 billion in bitcoin to support the peg of the stablecoin. (theblockcrypto)

    Kraken CEO: BTC drops to $20,000 will go all out to buy

     Jesse Powell, co-founder and CEO of cryptocurrency exchange Kraken, revealed that he used half of his funds to buy bitcoin in July last year. He assured that his holdings would not be affected and vowed to go "all in" if the major cryptocurrency fell to $20,000. While many thought he was all-in, he told Reuters that wasn't the case. (cryptopotato)


    Crypto giveaway scam steals millions using old videos of Musk et al

     Recently, dozens of YouTube channels have been found to be scamming by clipping old videos of Musk and Jack Dorsey and Ark Invest, in which scammers add their false encrypted information, including pointing to fraudulent encryption. Links to giveaway sites where millions of dollars have been stolen. These scammers promise double the return of the person who sent them cryptocurrency. Scammers made more than $1.3 million after replaying edited versions of Elon Musk, Jack Dorsey and Cathie Wood's old live panel discussions on cryptocurrencies at Ark Invest's "The ₿ Word" conference. Scammers are creating new channels for similar scams every day, so the list of detected scam links is updated every day. Data shows that a YouTube channel promoting this crypto scam has more than 1 million followers. (Bleeping Computer)

    Hash broker Nicehash's new software supports unlocking crypto mining limits on Nvidia graphics cards

     It was reported on May 9 that the new software NiceHash QuickMiner (Excavator) of the computing power broker NiceHash has supported 100% unlocking of LHR (Lite Hash Rate) graphics card computing power, which can break through the Ethereum encryption mining limit of Nvidia graphics cards, and 100% unlocking Features will also be coming to NiceHash Miner soon. As previously reported, Nvidia has added the Lite Hash Rate algorithm to all its RTX 3000 series graphics cards, which can detect whether the graphics card is a mining algorithm when the graphics card is running. If the graphics card is detected for mining, it will reduce the graphics card’s computing power by half. .


    Crypto trading platform Gemini suspends crypto credit card applications

    Crypto trading platform, has currently suspended applications for the Gemini encrypted credit card. Gemini said the company made the decision to further improve the customer experience, but the Gemini encrypted credit card status page indicated that there were currently technical issues. As previously reported, Gemini recently launched an encrypted credit card in the United States, which can be used in all 50 US states. The credit card is issued by the state-owned licensed industrial bank WebBank, with MasterCard as its exclusive card network. Gemini credit cards support over 60 cryptocurrencies as rewards, including Bitcoin, Ethereum, Dogecoin, and more. (CNET)

    Otherside virtual land Otherdeed #59906 was sold at 625 ETH, setting the highest transaction record in history

     On May 8th, according to NFTGo.io data, Yuga Labs metaverse project Otherside virtual plot Otherdeed#59906 was purchased by buyer n0b0dy.eth for 625ETH, which is about $1,647,558.10, setting a record for the highest transaction in the history of the series. At present, the second and third transaction prices are Otherdeed#33 (333.33ETH) and Otherdeed#24 (333ETH). Up to now, the total transaction volume of Otherdeed virtual land NFT has reached about 804 million US dollars, and the market value has exceeded 600 million US dollars, but the floor price has dropped to 3.42ETH, a 24-hour drop of 3.78%.


    Twitter accepts Musk's acquisition: or open source algorithm to accept dogecoin payment

     US social media company Twitter announced on Monday (April 25) that its board of directors has accepted a takeover deal proposed by billionaire Tesla founder Elon Musk , as well as accepting Twitter privatization proposal.

    According to a press release issued by Twitter, Musk will be paying $54.20 per share in cash for a total value of about $44 billion. After the deal, Twitter will become a private company.

    Musk responded with a simple statement on Twitter: "Freedom of speech is the cornerstone of a functioning democracy, and Twitter is the digital city square where people can discuss matters that matter to the future of humanity." Augmenting the product with new features, making algorithms open source to increase trust, defeating spam bots, and authenticating everyone makes Twitter better than ever. Twitter has huge potential - I look forward to working with the company and the user community Collaborate to open the future."

    Musk's proposed acquisition of Twitter was unanimously approved by Twitter's board of directors and is expected to close later this year. Musk has secured $25.5 billion in fully committed debt and margin loan financing and will provide about $21 billion in equity commitments to complete the deal, the statement said.

    Twitter's independent board chairman, Bret Taylor, said in a statement that the Twitter board considered Musk's proposal thoughtfully and comprehensively, particularly in terms of merger value, certainty and financing. "The proposed transaction would represent a substantial cash premium and we believe this is the best path forward for Twitter shareholders."

    The Wall Street Journal said that if the acquisition goes through, it would be one of the largest in tech history and could have a global impact on how billions of people use social media over the next few years.

    Dogecoin ’s price surged about 27% at one point after news broke that Twitter had accepted Musk’s takeover proposal . Musk has always been a proponent of cryptocurrencies, and aside from talking about Dogecoin, his Tesla company is one of the biggest corporate buyers of bitcoin . Earlier this month, Musk also made a series of proposals for Twitter's Twitter Blue subscription service, including lowering prices, banning ads and allowing users to pay in Dogecoin.

    Shibetoshi Nakamoto, the founder of Dogecoin, tweeted that he hoped that Dogecoin would add practical functions: 1. Improve the commercial application of Dogecoin 2. Use Dogecoin as a tip currency 3. Build a bridge between Dogecoin and Ethereum, Allow it to work with Web3. Musk responded by saying that the first one is positive, the second one is fine, and the third one is not needed.



    Perhaps soon, we will be able to see Dogecoin on Twitter.

    However, when Musk takes over Twitter, he will face a series of unanswered questions: Who will be Twitter's new CEO? How much control will Musk wield? How to achieve freedom of speech on Twitter? ...we'll keep watching.


    Regal Hotels Enters The Sandbox to Create Green City Mega City, Plans to Launch Metaverse Conference Center

     Regal Hotels Group (Regal Hotels) is building a green city Mega City in the blockchain game The Sandbox, becoming the first listed real estate group in Hong Kong to invest in virtual land. Regal Hotels, one of Hong Kong's largest hotel operators with more than 8,200 rooms, estimates that as many as 5 million people, or two-thirds of Hong Kong residents, could become "residents" in its Mega City. Poman Lo, vice-chairman and managing director of Regal Hotels, also said it was preparing to launch a Metaverse Conference Centre that would stream large industry conferences live to attendees, unlike online meeting platforms such as Zoom or Microsoft's Teams, where attendees would be able to Meet new business partner avatars online. The company is in discussions with organizers of a "leading sustainability conference" scheduled for later this year at the convention center to broadcast some of the sessions at its Metaverse Conference Center. (South China Morning Post)

    Doodles hires former Billboard exec Julian Holguin as CEO, will announce next phase of development

     NFT project Doodles announced Friday that it has hired former Billboard executive Julian Holguin as CEO. Holguin joined Billboard in 2012 as Vice President of Brand Partnerships, having previously held positions at the BBC, NBC and New York Daily News. Doodles, a community and collection of 10,000 NFTs, said: "Julian will work with the founders who are expanding the Doodles IP through music, games and entertainment, while deeply embedding culture into the product. Over the next few weeks , we will introduce you to the next phase of Doodles, groundbreaking projects, transformative partnerships and a comprehensive vision and roadmap.”


    P2E chain game Block Brawlers will be launched on the Ethereum sidechain SKALE on May 18

     On May 6th, the P2E chain game Block Brawlers will be launched on the Ethereum sidechain SKALE on May 18th. Players can participate in the community sale of 6 different game packs, including Brawler NFT and Brawler tokens. It is reported that Block Brawlers is a P2E chain game powered by GAME Credits, players can acquire, train and trade Brawlers, and also form 3 Brawlers teams to compete against other teams in the arena to win XP, gold coins and BRAWL tokens.

    Ouhai District actively promotes the construction of digital RMB scene applications

     Ouhai District has actively promoted major banking institutions to promote the layout of digital renminbi business, strengthen payment scenarios and environmental construction, promote the application of digital renminbi in pilot sites, and further promote digital renminbi to the society from point to point. It is reported that the digital renminbi is issued by the People's Bank of China and is a legal currency with national credit endorsement and legal solvency. Since the first batch of digital renminbi pilots in the country in 2019, the pilot cities have continued to expand, the application of digital renminbi has been continuously improved, and public awareness has been greatly improved. Currently, digital renminbi applications can be downloaded in major mobile application malls. Digital RMB is different from third-party payment tools such as Alipay and WeChat. It does not need to be bound to any bank account when paying, making payment more convenient. (Information Newspaper)


    Data Interpretation: Does "Calm Bear" have a chance to defeat "Boring Ape"?

      In the NFT field, NFTs based on the Ethereum  blockchain have maintained their absolute leading position. However, in the past week, this perception may be about to change. People seem to find that the dominant position of Ethereum NFTs seems to be being eroded, and interestingly, one of the most noteworthy ones is the Solana ( SOL )-based NFT series - "calm bear" Okay Bear.


    "Calm Bear" Okay Bear is a collection of NFTs based on Solana. Unexpectedly, this dark horse NFT was sold out 24 hours before its launch, with a transaction volume of 147,161 SOL, and the price rose by 19.48% in the last 24 hours after that. What's more worth mentioning is that since the "calm bear" Okay Bear launched on the decentralized exchange OpenSea three days ago, its floor price has soared from 1.5 SOL at the time of the public sale to 115 SOL, with a transaction volume of 510,100 SOL. At the time of writing, the "calm bear" Okay Bear has a daily volume of 1356 trades and a daily value of 6259.09 SOL.

    If you have no idea about this number, we can do a simple comparison. On April 28 alone, the newly launched VeeFriends V2 saw $13 million in volume, Yuga Labs' Meebits saw $12 million, and the high-profile new project, Imaginary Ones, saw $10 million. This means that the little-known Solana project beat almost all Ethereum NFT projects in one day.

    Such a hot deal can't help but remind people of the "boring ape" BAYC at that time, and will involuntarily have such an idea - in the near future, who will be the final winner of this "bear and ape war"?

    Let's find the answer together

    From the launch in April 2021 to May 4, 2021, the total transaction volume of "Boring Ape" BAYC is 960.197 ETH . Immediately after, the “mutant ape” MAYC was launched on August 28, 2021, with a total transaction volume of 1149 ETH as of September 6, 2021, and about 212 sales.

    If you look closely, you will find that the Okay Bears and the boring ape have a lot of similarities: boring eyes, a variety of skins and clothing, and even the same mouth shape. Many people think that this may be a "monkey copy plate" on Solana, just replace "ape" with "bear". However, by comparing the sales of "bear" and "ape", it is not difficult to see that in the Solana-based NFT project, "calm bear" Okay Bear is the most valuable series, just like "boring ape" BAYC and "mutant ape" ” MAYC has the same status in Ethereum.

    In addition, according to data statistics firm Dune Analytics, Solana's daily trading volume on OpenSea increased significantly after April 25, 2022 (pictured on the left), and just after the launch of "calm bear" Okay Bears, Solana-based NFTs have also seen a significant increase in daily trading volume on OpenSea (shown on the right). 


    In addition, the data graph below also shows the "total transaction volume of all NFTs". It is not difficult to see from the figure that as of April 30, 2022, the total number of NFT transactions was 19,717, a decrease compared to April 29, 2022.

    Not only that, but as you can see from the price chart below, the total transaction volume of all NFTs was low on April 26, 2022, at only 46,923, and then started to pick up on April 27, 2022, reaching 58,494 pen, but then dropped again. 


    Source: Santiment

    Looking to the future

    As the "Calm Bears" Okay Bears line sold out within hours of launch, its creators also released a statement sharing their plans for the future with investors. 

    The plan was announced on Twitter by the Okay Bears community. The tweet said that its founders had plans for the next 12 months. Based on the continued hot sales of Okay Bears, Solana is likely to replace BAYC, the "boring ape", in the near future and take the top spot in the future NFT market.

    Clearpool Launches Its First Licensed Lending Pool in Partnership with Jane Street and BlockTower Capital

     Decentralized capital markets provider Clearpool has announced a partnership with Jane Street, one of the world’s leading quantitative trading firms, and BlockTower Capital, a leading crypto blockchain investment firm, to launch permissioned liquidity on its unsecured DeFi lending protocol, according to official news. pool. The pool was initially funded with $25 million in USDC. The digital asset institutional lending protocol launched by Clearpool on the Ethereum mainnet in March 2022 is supported by investors such as Arrington Capital, Sino Global Capital and HashKey.


    OpenSea hits record $476 million in all-time single-day sales

     According to the latest data disclosed by blockchain analysis platform Dune Analytics, the NFT market hit a total of $476 million on May 1, driven by the sales activity of the Otherdeed virtual parcel of Yuga Labs’ metaverse project Otherside, according to Golden Finance. The highest single-day sales record in history. The previous record for OpenSea’s highest single-day sales occurred on August 29, 2021, with nearly $323 million in transactions that day. According to NFTGo.io data, Otherdeed’s transaction volume in the secondary market is approaching $600 million so far, and it has now reached $592.68 million, with a market value of about $487.5 million. (decrypt)

    Riot Blockchain sells 250 bitcoins in April, netting about $10 million

     Bitcoin mining and hosting company Riot Blockchain announced that it raised about $10 million in April through the sale of 250 bitcoins, and the company is moving ahead with massive expansion plans, selling for $9.4 million in March. 200 bitcoins were issued. The sales were a fraction of the bitcoin held by Riot, which stood at 6,320 at the end of April, up from 6,062 a month earlier. The news comes after the miner announced plans to develop a 1 gigawatt (GW) project in Navarro County, Texas, at a total cost of $333 million for the first phase, with investment planned over the next two years. (CoinDesk)

    Over 100,000 Cubans are using cryptocurrencies in response to U.S. sanctions

     A report released by the US media NBC News pointed out that more than 100,000 Cubans are using bitcoin and other cryptocurrencies to respond to US sanctions As a result, Cubans cannot use PayPal, Revolut, Zelle and many other internationally accepted credit or debit cards due to sanctions. Many institutions, including JPMorgan Chase and Deutsche Bank, are reportedly facing millions of dollars in fines for providing services to Cubans. It was previously reported that the Cuban Central Bank (BCC) will begin issuing licenses for bitcoin and virtual asset service providers (VASPs) in May. (NBC News)


    NYDIG launches bounty program to start paying developers who improve the network

     NYDIG, a blockchain financial services company, launched a $59,000 Bitcoin task bounty program two weeks ago to improve the Bitcoin network. The goal of the program is to reward coders, improve the Bitcoin network, and engage with the community. Coders will fix bugs and configure block heights, manage consensus checks, and more, and will be rewarded between $600 and $8,400 per task. NYDIG has paid a total of $1,800 for both assignments since the program began. (CoinDesk)

    Musk in talks with investment firm for new financing to buy Twitter

     News on May 3 That includes preferred equity investments from private equity firms, as well as high-net-worth individual investors; Musk has started discussions with some Twitter investors, including Jack Dorsey, about rolling stakes in the deal. (Golden Ten)

    Argentina's largest private bank Banco Galicia launches cryptocurrency trading feature

     Banco Galicia, Argentina’s largest private bank by market capitalization, has launched a cryptocurrency trading function, allowing users to buy BTC, ETH, USDC and XRP in the investment section of its app. It is reported that Banco Galicia’s crypto service is operated in partnership with Lirium, a digital wallet and mobile banking app crypto product. (CoinDesk)


    Indian Finance Minister: India is exploring commercial use of central bank digital currency

     Finance Minister Nirmala Sitharaman spoke about the country’s central bank digital currency (CBDC), the digital rupee, at the “Investing in India’s Digital Revolution” business roundtable in San Francisco this week, Golden Finance reported. The Indian government is exploring “multiple commercial uses, not just financial inclusion” for its central bank digital currency. The Indian finance minister clarified that the goal is to issue a digital rupee backed by the Reserve Bank of India (RBI) by 2023. Sitharaman highlighted that the Indian government has a consistent digital push across all industries. She emphasized: “Central bank digital currency, digital bank and digital university are all announced in the federal budget. There is a continuous digital push by the government in various sectors.” At the same time, the Indian government is formulating the country’s cryptocurrency policy. The finance minister said this week that a decision would not be rushed. RBI deputy governor T. Rabi Sankar said the central bank will roll out the digital rupee "in a very calibrated, gradual way, assessing the impact throughout the process". (news.bitcoin)

    CMU launches VR headset plug-in to reproduce the touch of lips and tongue in the Metaverse

     Golden Finance reports that researchers at Carnegie Mellon University have developed a hardware module mounted on the Meta Quest 2 headset that allows users to experience the touch of drinking water, brushing teeth, and kissing in VR. The working principle of the device is to use the thin and light ultrasonic transducer in the newly added module to aim the ultrasonic pulse at the position in and around the user's mouth, and to suspend and move the tiny particles by bombarding the tiny particles with high-energy ultrasonic pulses. In doing so, they create the sensation of touch on the user's lips, teeth, and even their tongue when they open their mouth. (IT House)

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