11 May: "Stay Strong, LUNAtics"


“The master has failed more times than the beginner has even tried.”
-Stephen McCranie

--NO TAX ON CRYPTO PROFITS!-- 

Happy Humpday Folks! It's a complete shit show for the Lunatics. Do Kwon is finding out just how difficult it can be to maintain an algorithmic Stablecoin. When the market is going up things are great, but when the market falls it's a completely different story. With the markets down, the air has been sucked from the Digital Asset room. Now the question will be how does it recovery from here? Will this be the end of many altcoins (aka S coins) or will we see a resurgence from all? Many are asking the same question as Alice rn and my response is the same as Cheshire: 

“Alice: Would you tell me, please, which way I ought to go from here?
The Cheshire Cat: That depends a good deal on where you want to get to.

MOST COVERED

BREAKING

  • FTX.US applies for trust charter in New York (TB)

LUNA SAGA

  • Terra NFT Market Sees Trading Spike Amid UST Collapse (Blockworks)
  • Why did Terra LUNA and UST crash? | Find out on The Market Report (Cointelegraph | TB)
  • Terra’s UST De-Pegging a ‘Brilliant’ Soros-Style Attack, Claims Analyst (BIC)
  • Crypto Firms Quick to Announce No Exposure to UST, LUNA (Decrypt)
  • How Will UST Crash Impact Other Stablecoins? (Blockworks)
  • Terra contagion leads to 80%+ decline in DeFi protocols associated with UST (Cointelegraph)
  • VanEck, Wrong-footed by UST Collapse, Casts Doubt on Do Kwon’s Rescue Plan (Blockworks)
  • After the Collapse of Terra's UST, What's Next for Algorithmic Stablecoins? (Decrypt)
  • LUNA meltdown sparks theories and told-you-sos from crypto community (Cointelegraph)
  • Amid Terra crypto turmoil, ordinary investors start to pick up the pieces (TB)
  • UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Colleagues Say (Coindesk | TB)
  • As Luna holders watch the token slide, many won’t be able to cash out for weeks (TB)
  • Anchor Protocol (ANC) Reaches New All-Time Low After Sharp Fall (BIC | TB)
  • TRON DAO Deploys $2 Billion to Protect TRX Following the LUNA Crash (CryptoPotato)
  • Terra Turmoil Adds Fodder for Secretary Yellen’s Concerns Over Stablecoins (Blockworks)

EXCHANGE INFLOWS SPIKE AS LFG MOVES BITCOIN RESERVES

CRYPTO MARKET WATCH

  • Queen’s Speech 2022 Sparks UK’s Renewed Interest in Cryptocurrencies (BIC)
  • Going ‘To Zero’—Panic Is Sweeping Crypto Markets (Forbes | Finbold | Forbes)
  • Market Crash Wipes Millions off Crypto Companies’ Stock Price (BIC)
  • Bitcoin Is Being Pummeled – Will Tesla And MicroStrategy Sell Their BTC? (Bitcoinist)
  • Bitcoin City Layout Unveiled: Will Crypto Metropolis Help El Salvador’s Ailing Economy? (Bitconist)
  • Chainalysis doubles valuation to $8.6 billion in latest fundraising round: The Information (TB)
  • Galaxy Digital board approves share buybacks as its stock price tanks (TB)

SATOSHI NAKAMOTO’S BITCOIN STATE OF MIND

BITCOIN

  • Bitcoin Breaks Below $28.6K: Recording Its Lowest Level Since January 2021 (CryptoPotato)
  • Extreme Fear Back In Focus: Is It Time To Buy Bitcoin? (NewsBTC)
  • Bitcoin fights to hold $29K as fear of regulation and Terra’s UST implosion hit crypto hard (Cointelegraph)
  • Bitcoin price reclaims $30K as Bitcoin Cash hits fresh record low against BTC (Cointelegraph)
  • $1.2 Billion in Bitcoin Move to Exchanges as $BTC and $ETH Approach ‘Historic Buy Zone’ (Cryptoglobe)
    In-profit Bitcoin addresses plummet to 2-year low as crypto market bleeds (Finbold)

PROTECTED: WHY USE AN AIR-GAPPED COMPUTER (AGC) FOR BITCOINING?

ALTCOINS

  • Ethereum (ETH) TVL Sinks More Than $50 Billion in 2022 Low (BIC)
  • Cardano and XRP Beat Coinbase's Whole Market Capitalization Following Earnings Report (UToday)
  • SHIB Army Burns 324.7 Million Shiba in Past 24 Hours, Report Says (UToday)
  • Shiba Inu Vs. Dogecoin And LUNA: Which One Will Survive The Crypto Carnage? (NewsBTC)
  • ApeCoin is down 70%+ since the Otherside launch — Can Yuga Labs turn the ship around? (Cointelegraph | Decrypt)
  • Avalanche drops 30% on fears Terra's LFG will dump AVAX next (Cointelegraph)

ANALYST'S CORNER

  • Kaleo: Crypto Analyst Says Bitcoin (BTC) Bottom in Sight After Six Weeks in Red – Here’s His Target Price and Date (TDH)
  • Inmortal: Top Analyst Says Bitcoin (BTC) Fast Approaching Bear Market Bottom – But There’s a Catch (TDH)
  • Michael van de Poppe: Closely-Followed Analyst Says Crypto Markets Near End of Downtrend, Predicts Bounce for Bitcoin (BTC) (TDH)
  • CZ: Ethereum (ETH), Terra (LUNA) Operations on Binance (BNB) Affected by Congestion (UToday)
  • Alex Kruger: Economist Says These Two Conditions Could Solidify Bitcoin (BTC) Bottom at $30,000 (TDH)
  • PlanB: Bitcoin Analyst Plan B Shares One Bullish Metric Amid Carnage (UToday)
  • Altcoin Sherpa: Crypto Analyst Says Ethereum Showing Strength, Updates Forecasts for Top ETH Rivals (TDH)

NOTABLE VOICES

  • Michael Saylor: FASB Votes to Review Accounting Rules for Crypto on Balance Sheets (CryptoPotato)
  • Charles Hoskinson: Explains How Djed's USD Peg Is Stronger Than UST's (UToday)
  • William Cai: Wilshire Phoenix Founder: Bitcoin not the Future of Crypto Industry, Follow the Developers (BIC)
  • Peter Schiff: Terra USD Collapse Exposes Critical Flaw in Bitcoin (UToday)
  • Mark Cuban: Mark Cuban: ‘Crypto Going Through a Lull’ Like the Internet of the 2000s (BIC)
  • Robert Kiyosaki: Asserts ‘Bitcoin is in a bear market’ but so are stocks and bonds (Finbold | ZyCrypto)
  • Brian Armstrong: Indian central bank’s ‘informal pressure’ disrupted payments: Coinbase CEO (Cointelegraph)

CBDCs/STABLECOINS

  • Series of Stablecoins Lose Pegging Following TerraUSD (UST) (BIC)
  • Stablecoin Dominance Grows As Crypto Assets Are Obliterated (Bitcoinist)
  • Shiba Inu Stablecoin SHI Nears Completion, SHIB Introduces Shibarium Financial Ecosystem (UToday)
  • COTI CEO: How Cardano-Powered Decentralized Algorithmic Stablecoin Djed Is Different (Cryptoglobe)
  • Bank of Israel claims 'public support' for its CBDC project (Cointelegraph)

CEFI/DEFI

  • Celsius Network execs deny rumors of significant losses amid market volatility (Cointelegraph)
  • What Are Wrapped Tokens? How They Work and What They’re Used For (Decrypt)
  • Convex Finance (CVX) Surpasses Aave in Total Value Locked (BIC)

ETF/ETP

  • Luna ETP Comes Close to Setting Major Record (UToday)

WEB3

  • Lina Valentina Produced NFT Collection “No More” Launched To Denounce Domestic Violence (Bitcoinist)
  • This week’s whipsaw market movements test NFT traders’ resolve — What’s next? (Cointelegraph)
  • MetaFi Is On The Raise With The NFT Moon Metaverse First Avatars Sale on May 15 (Bitcoinist)
  • What is the Hype About Play-to-Earn Games; Do they Actually Pay Out? (Bitcoinist)
  • US Losing Lead in Web3 Development to Russia and India (BIC)

ACCEPTANCE

  • U.S.-based Bentley University greenlights tuition payments in Bitcoin (Finbold)
  • Rising global adoption positions crypto perfectly for use in retail (Cointelegraph)

ACQUISITION

  • Napster to Reinvent itself as Web3 Business Following Acquisition (BIC)

EXCHANGES

  • Atlanta-Based Crypto Exchange Still Owes Clients 4 Years After Closing (BIC)

BLOCKCHAINS

  • $SHIB: Lead Shiba Inu Developer Updates Community on Deal That Would ‘Break the Internet’ (Cryptoglobe)

LEGISLATION/REGULATION

  • The SEC has already sued Terraform Labs. It has every reason to investigate UST, lawyers say (TB)
  • Chairmen from the SEC and CFTC talk crypto regulation at ISDA meeting (Cointelegraph)
  • 'Unlike Republicans, we recognize that there is real risk' to stablecoins and crypto, says Senate Banking Committee chairman (TB)
  • Industry experts weigh in on SEC hiring more crypto cops (Cointelegraph)
  • Why Crypto’s Rough Year In India Just Got Worse (Forbes)
  • Luna’s Price Drastically Collapses Below $5, What Will Be the Regulatory Implications That Come Out of This? (EWN)

MINING

  • Bitcoin mining stock report: Wednesday, May 11 (TB)
  • Bitcoin Mining Difficulty Reaches All-Time High as Market Drops (BIC)
  • Bitcoin mining firm Hive Blockchain announces 5-to-1 share consolidation plan (TB)

CITY OF MOBILE, ALABAMA APPROVED ITS FIRST BITCOIN MINING PROJECT

FOLLOW DAT MONEY

  • Lighthouse Labs raises $7 million in seed round to build metaverse search engine (TB)
  • Chainflip Labs secures $10 million for cross-chain DEX (TB)
  • Backed by Coinbase and Alameda ($23MM), African exchange MARA eyes continental prospects (Cointelegraph)
  • Web3 development platform Moralis reels in $40 million in Series A (TB)
  • Fasanara Capital is raising $350 million for a new crypto and fintech fund (TB | Cointelegraph | CryptoPotato)

THE BAD

  • Suspect Arrested in Hong Kong for Scamming Crypto Trader out of HK$1.5M (BIC)

PODCAST

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TheCryptoCurator
TheCryptoCurator

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post. If you want to sign up for SMS alerts - text CRYPTO to +1 (214) 380-2013.


The Crypto Curator
The Crypto Curator

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