13 May: TERRA TERROR


“If you want to be successful, find out what the price is and then pay it.”
-Scott Adam

--NO TAX ON CRYPTO PROFITS!--

Happy Friday Folks! We haven't seen news coverage like this since COVID broke out in 2020. Terra has dominated the news cycle and that's about all that seems to be going on but wait there is more. Bitcoin is trying to recover above $30K but today is option Expiry so buckle up for more volatility. Brian Armstrong and Charles Hoskinson are bullish, Benjamin Cowen shares his thoughts and Max Keiser thinks Cardano is next to collapse. Meanwhile, Bitcoin to the sky as Emirates accepts Bitcoin, Brazil's XP launches trading of Bitcoin, and Japanese Bank Nomura starts trading OTC Crypto derivatives.

MOST COVERED

JUST IN

  • Satoshi-Era Bitcoin Wallet Awakens with BTC in It Worth 62x in USD (UToday)
  • Canadian Bitcoin ETF adds 6.9K BTC in one day as GBTC discount hits record low (Cointelegraph)
  • David Marcus unveils new startup focused on Bitcoin and Lightning backed by a16z and Paradigm (TB)

TERRA SAGA CONTINUES

  • What happened? Terra debacle exposes flaws plaguing the crypto industry (Cointelegraph)
  • Terra-backer Galaxy Digital gives update on liquidity position (TB)
  • YouTuber KSI reveals his $2.8 million LUNA investment ended up less than $1k losing 99.9% (Finbold | CryptoPotato)
  • After Terra’s stablecoin implosion, battered investors ask ‘where is Do Kwon?’ (TB)
  • What this week’s Terra stablecoin fiasco means for crypto and what investors can learn from it (CNBC)
  • LUNA, UST Still Available on FTX and Other Exchanges Despite Terra Blockchain Halt (Coindesk)
  • Luna supply soared to 6.5 trillion coins before Terra’s latest halt (TB | Cointelegraph)
  • Terra TVL Crumbles More Than $14 Billion (Bitcoinist)
  • Terra disaster fuels work of Congress on stablecoin legislation (TB)
  • No rescue for Terra: Swiss asset manager denies $3B LUNA/UST bail-out talks (Cointelegraph | CryptoPotato)
  • Luna backer Su Zhu says UST collapse is ‘Terra's DAO hack moment’ (TB)
  • Celsius pulled half a billion dollars out of Anchor Protocol amid Terra chaos (TB | EWN)
  • DeFi protocols declare losses as attackers exploit LUNA price feed discrepancy (Cointelegraph)
  • Changpeng Zhao: Binance CEO disappointed with how Terra handled UST's collapse (TB)
  • Peter Schiff: Terra (LUNA) Shows Big Breach in "Buy the Dip" Concept (UToday)

CRYPTO MARKET WATCH

  • What Next For Cryptos? (Forbes)
  • Crypto market sees over $100 billion inflow in 24 hours as Bitcoin reclaims $30k (Finbold | Decrypt)
  • Crypto Massacre: Over $200 Billion Wiped Out From Crypto Market In 24 Hours (Bitcoinist)

BITCOIN

  • Bitcoin Price Takes Deepest Dive Since 2020, Will BTC Bounce? (NewsBTC)
  • Bitcoin gains superior to stocks in the long term, economist says (Cointelegraph)
  • Bitcoin's Break Above $30,000 Puts It on Important Support Level (UToday | BIC)
  • 3 reasons why bears aim to pin Bitcoin below $30K for this week’s BTC options expiry (Cointelegraph)

ALTCOINS

  • Ether Sees Largest Amount Of Whale Transactions Since January — A Major Relief Rally On The Horizon? (ZyCrypto)
  • XRP Rebounds 20%, Ripple's Answer to SEC Assertions Over Hinman Emails Expected Today (UToday)
  • BNB Soars 33% Within 24 Hours as Crypto Market Begins to Recover: Here Are Likely Reasons (UToday)
  • 3 reasons why Cardano can sink further despite ADA price bouncing 58% (Cointelegraph)
  • APE up 70% in 2 Days Thanks to Metaverse Teaser (UToday)
  • Digital Asset Exchange Crypto.com Lists Two Low-Cap Altcoins As Crypto Markets Search for Support (TDH)

CBDCs/STABLECOINS

  • Kava Network’s USDX tumbles to $0.65 as yet another stablecoin depegs (TB)
  • Maker DeFi Token Jumps 30% as Users Turn to DAI Stablecoin Amid Terra's Collapse (Decrypt)
  • World’s biggest stablecoin regains dollar peg after $3 billion in withdrawals (CNBC)
  • Tether Increases U.S. Treasuries Exposure Amid USDT Dump (UToday)
  • Whales Dump $710 Million Worth of Tether in Fear of De-Peg, USDT Trades at $1 (UToday)
  • Chairman of the Digital Euro Association: ‘The primary aim of the digital euro is still not clear’ (Cointelegraph | Cointelegraph)
  • What Are Algorithmic Stablecoins? (Decrypt)

ANALYST'S CORNER

  • Arthur Hayes: Bitmex’s CEO says I am a Buyer of Bitcoin at $20k and Ethereum at $1,300 (EWN)
  • Peter Brandt: Seasoned Trader Who Correctly Predicted Bitcoin’s Latest Crash Now Sees A Local Bottom (ZyCrypto)
  • Benjamin Cowen: Here’s the Worst-Case Scenario for Crypto Markets Amid Bitcoin (BTC) Crash, According to Analyst (TDH)

NOTABLE VOICES

  • Robert Kioysaki: “Rich Dad” R. Kiyosaki wants to buy Bitcoin dip says ‘crashes best times to get rich’ (Finbold | TDH)
  • Brian Armstrong: Coinbase CEO Predicts Crypto Economy Will Explode to 15% of Global GDP (TDH)
  • Charles Hoskinson: Cardano Founder Says Fears of Crypto Market Collapse Overblown, Sets Timeframe for Recovery (TDH)
  • Max Keiser: Famed Bitcoin Enthusiast Max Keiser Hints That Cardano’s ADA Could Be Next To Collapse After LUNA (ZyCrypto)

WEB3

  • Ukraine’s Digital Transformation Ministry approves charity NFT project benefiting war efforts (TB)

CEFI/DEFI

  • Curve TVL Sinks $14 Billion; No Longer DApp with Most Value Locked (BIC)

ETFs/ETPs

BLOCKCHAINS

  • Blockchains are forever: DLT makes diamond industry more transparent (Cointelegraph)

EXCHANGES/BANKS

  • Coinbase Says Some Customers Are Having Issues Accessing Accounts (UToday)
  • Shiba Inu's LEASH Debuts on StealthEX, Enabling Swapping with More Than 400 Crypto Assets (UToday)
  • Brazil's Largest Broker XP to Launch Bitcoin Trading (BM)

MINING

  • Core Scientific reports Q1 net loss of $466.2 million and conservative approach to growth (TB)
  • Which Mining Company Contributed Most To Bitcoin’s Hashrate Growth In 2022? (Bitcoinist)
  • Top 5 Bitcoin Mining Softwares To Look Out For (NewsBTC)
  • Bitcoin mining in Norway gets the green light as the proposed ban rejected (Cointelegraph)

LEGISLATION/REGULATION

  • Regulation of Crypto Industry a Global Priority Says International Securities Commission (BIC)
  • Pro-Crypto Congressman Tom Emmer Slams FSOC, Proposes Radical Reform: Here's Why (UToday)
  • Leaked Document Shows South Korea Preparing Crypto Regulations by 2024 (BIC)
  • Crypto Developers Don’t Own Duty of Care Court Rules (Trustnodes)

PODCASTS

  • Unchained: Did Someone Deliberately Attack Terra/Luna to Kick off a Death Spiral?
  • Bankless: UST Luna - The Biggest COLLAPSE in Crypto History
  • On The Brink: Weekly Roundup 05/13/22 (Terra collapses, FASB reconsiders Bitcoin accounting, the Fed's third mandate)

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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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