“Success is the progressive realization of predetermined, worthwhile, personal goals.”
-Paul J. Meyer

--NO TAX ON CRYPTO PROFITS!--

AN OPEN LETTER TO A BITCOIN-DOUBTING FRIEND ON WALL STREET

Happy Monday Folks. The big stories to watch are getting lots of press across the Crypto publications. Celsius might have challenges and they are starting to rise to the top of the news cycle. It times like this it's critical everyone considers their position and ensure their assets are safe. No one could fathom the dumpster fire that $LUNA became so be very vigilant if you are not holding the private key to your digital assets. 

Analyst's sentiment believes a bottom is in but the monthly chart still indicates more pain. So we could see a relief rally with more downside toward $20K; keep your powder dry. I still have 100% confidence that a few years from now this will still be a painful but faint memory.

MOST COVERED

• Terraform Labs CEO Proposes ‘Terra Ecosystem Revival Plan 2’ (Cryptoglobe | EWN | TB | Decrypt | Cointelegraph | TB | Finbold | ZyCrypto | BIC | UToday)
• LFG Sells over 80K BTC (ZyCrypto | Finbold | CryptoPotato | Cointelegraph | EWN | TB | Decrypt | Trustnodes | Coindesk | BIC)
• Bitcoin Conference in El Salvador Attracts Representatives From 44 Countries (BIC | ZyCrypto | Bitcoinist | Trustnodes | CryptoPotato | Cointelegraph)
• Bitcoin investment giant Grayscale debuts ETF in Europe (Cointelegraph | UToday | TB | CryptoPotato | BIC)
• Portugal considering capital gains tax for cryptocurrency (TB | Blockworks | Decrypt | CryptoPotato | Cointelegraph | Bitcoinist)
• CZ: Terra fork won't work, according to Binance CEO (TB | Cryptoglobe | EWN | Cointelegraph | CryptoPotato)
• FTX CEO sees no future in Bitcoin payments, community fires back (Cointelegraph | UToday | BIC | Cryptoglobe)
• Goldman Sachs co-leads $70 million raise by Alan Howard’s Elwood Technologies (TB | Bitcoinist | Blockworks | CryptoPotato)
• Japan’s largest investment bank Nomura to launch crypto arm, FT reports (TB | Cointelegraph | CryptoPotato | Finbold)
• Binance CEO & Vitalik Breaks Silence on Terra (TDH | Decrypt | BIC | Bitcoinist)
• RBI officials issue warning on economy ‘dollarisation’ threat by cryptocurrencies (Finbold | BIC | Cointelegraph)
• U.K. Treasury to Push Forward With Stablecoin Regulation (BIC | Cointelegraph | Finbold)
• Cardano whale transactions hit a 4-month high as large players buy the dip (Finbold | UToday | ZyCrypto)
• Sam Bankman-Fried: Crypto Billionaire Says Terra Wasn’t as Bad as Theranos (UToday | BIC | TDH | Bitcoinist) 
• Spotify starts trialing NFTs on its platform, Music Ally reports (TB | Cointelegraph | Blockworks)
• Celsius announces plans for an IPO of its bitcoin mining subsidiary (TB | Cointelegraph | BIC)
• Nigeria Issues Crypto Asset Rules In A Move That Could Boost Adoption (Forbes | TB | BIC)
• MicroStrategy’s tops crypto-related stocks after 20% surge amid market volatility (Finbold)
• The Next Luna And UST? Celsius (Forbes)
  

CRYPTO MARKET WATCH

• Crypto Market Madness Leads To Surge In Bitcoin On-Chain Activity (Bitcoinist)
• Crypto Market Forecast: Week of May 16th 2022 (BNC)
• The meaningful shift from Bitcoin maximalism to Bitcoin realism (Cointelegraph)
• 7 Big Moments From Bitcoin and Crypto's Craziest Week Ever (Decrypt)
• $1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus (Cointelegraph)
• Bitcoin Losses Add to Mounting Fears of Debt Default in El Salvador (UToday)
• Mike Novogratz Is Getting Ready to Lose $300 Million Because of Bitcoin's Massive Sell-Off (UToday)
• SNL Takes Dig at Cryptocurrency Investors After Price Crash (UToday)
• Bequeath Cryptocurrency in Your Will in a World First (BIC)

LUNA SAGA CONTINUES

• Binance's LUNA investment, which peaked at $1.6 billion, now worth just $3,000 (TB)
• Terra LUNA Circulating Supply Increases by Nearly 1.9 Million Percent Within Days (UToday)
• How Terra's UST and LUNA Imploded (Decrypt)
• Terra Dapp Expo canceled following chaotic week for Terra network (TB)
• Ethereum Founder Vitalik Buterin Supports TerraUSD (UST) Recovery Plan That Prioritizes Small Holders (TDH)
• Citadel Securities, BlackRock Push Back Against Rumors of Involvement in Terra (LUNA) Collapse: Report (TDH)
• The Block’s VP of Research Shares Document that Suggests Binance Invested $300m in Terra (LUNA) (EWN)
• Binance Denies Participation in Terra’s Second Investment Round; Says It Invested $3 Million in 2018 (BIC)
• This Week on Crypto Twitter: Do Kwon Takes Heat for UST Failure (Decrypt)
• Polygon and others extend helping hand to Terra blockchain projects (Cointelgraph)
• The Collapse of UST and LUNA Was Devastating, but There Is Still Hope for Crypto (Coindesk)

BITCOIN

• Bitcoin bulls aim to flip $30K to support, but derivatives data show traders lack confidence (Cointelegraph)
• Number of addresses with over 1 Bitcoin hits new all-time high despite volatility (Finbold | EWN)
• First 7-week losing streak in history ― 5 things to know in Bitcoin this week (Cointelegraph | BIC)
• Bitcoin Dominance Rate (BTCD) Bounces Sharply After Triple Bottom Pattern (BIC)
• Institutions May Be Accumulating Bitcoin After Major Exchange Movements (BIC)
• Bitcoin Breaches $30K as Ethereum, Cardano, Solana Join Weekend Rally (Decrypt)
• Bitcoin Whales Are Filling Their Bags Despite Warnings BTC Price Could Nosedive To $20,000 (ZyCrypto)
• More Than $30,000,000 in Bitcoin (BTC) Abruptly Moves After Lying in Deep Freeze Since 2013 (TDH)

ALTCOINS

• Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS (Cointelegraph)
• Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB (Cointelgraph)
• Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern (Cointelegraph)
• Ripple (XRP) Rallies in Lieu of Ongoing SEC Lawsuit (BIC)
• Cardano (ADA) and Solana (SOL) Record Double-Digit Price Spikes (UToday | CryptoPotato)
• DOGE Price on the Brink: What to Keep an Eye On (UToday)
• SHIB adds 15,000 new holders in just a week after a 30% price drop (Finbold)
• Crypto Trading Hamster That Outperformed Warren Buffett Resurfaces With Shiba Inu ($SHIB) as Top Holding (Cryptoglobe)
• Terra (LUNA) trading volume surge 200% as market adjusts to death spiral (Cointelegraph | Finbold)
• Two Ethereum-Based Altcoins ($XCN $FLEX) Erupt in Defiant Rallies, Outrunning Bitcoin and Crypto Markets in Week of Wild Volatility (TDH)
• VeChain Treasury Held $1.2B in Crypto, Q1 Report States (CryptoPotato)
• Tezos’ (XTZ) Daily RSI Drops To New All-Time Low (BIC)

CBDCs/STABLECOINS

• Tron’s Justin Sun Commits $10m in USDD to Assist Smallholders Hardest Hit by UST’s Depegging (EWN)
• ECB’s Panetta: Digital Euro Could Come Out Within 4 Years (Coindesk | Cointelegraph)
• Algorithmic Stablecoin From DEUS Finance Loses Dollar Peg, Plunging 30% (Decrypt | Cointelegraph)
• UST’s Collapse Might Push Central Banks Closer to a CBDC (Blockworks)
• DeFi lender left with $35 million bad debt after quoting depegged stablecoins at $1 (TB)
• Cardano's Djed Compared to Terra's UST by Community: Details (UToday)
• Chile's central bank says it needs more time to study CBDCs (TB)
• Stablecoins Receive Queen’s Blessings As UK Braces For Landmark Crypto Legislation (Bitcoinist)

ANALYST'S CORNER

• Peter Schiff: Bitcoin Chart Shows “Ominous” Combination, It’s Long Way Down for BTC: Peter Schiff (UToday)
• DonAlt: Bitcoin Gearing Up for a Big Move in the Next Three Months, Says Crypto Strategist – Here Are His Targets (TDH)
• Coinshares: Institutional Investors Accumulate Staggering $298,000,000 in Bitcoin As Ethereum, Solana and Additional Altcoins Tread Water (TDH)
• Rekt Capital: Analysts flag Bitcoin price levels to watch after LFG sells 80K BTC (Cointelegraph)
• Lyn Alden: Investment Strategist Calls Bitcoin ‘Fastest Horse’ in Crypto Race (Cryptoglobe | TDH)
• Pentoshi: Top Crypto Analyst Predicts Bitcoin (BTC) Rally, $SOL/$AVAX Breakout (TDH | TDH)
• Dave the Wave: Analyst Who Called 2021 Bitcoin Collapse Predicts BTC Bottom – Here’s When (TDH)
• Justin Bennett: Top Crypto Analyst Predicts Strong Bitcoin Bounce, Says BTC Rally Will Run Beyond Expectations (TDH)
• Mike McGlone: Bitcoin and Ethereum Will Outperform Stocks As Risk Asset Prices Crash, Says Bloomberg Strategist – Here’s Why (TDH | Cryptoglobe)
• Capo: Top Crypto Analyst Predicts Massive Price Dive for Cardano, Says One Solana-Based Altcoin Will ‘Go Down to the Basement’ (TDH)
• Credible: Top Crypto Strategist Says Ethereum Will Underperform Bitcoin Before Staging Big Comeback – Here’s His Timeline (TDH)
• Dan Gambardello: Calls Cardano ($ADA) ‘Most Sound, Secure, & Scalable Blockchain’ (CryptoGlobe)
• Arthur Hayes: Crypto Industry Veteran Explains When He Will Resume Buying $BTC and $ETH (Cryptoglobe | TDH)
  
• Will Clemente: Bitcoin (BTC) Is Very Close to a Bottom – 6 Arguments (BIC)
• Guy: Here’s How Ethereum Rival Algorand (ALGO) Can Definitively Break All-Time Highs, According to Coin Bureau (TDH)
• Guy: Polkadot ($DOT) and Cosmos ($ATOM) Go Head-to-Head in Latest Coin Bureau Episode (Cryptoglobe)
• InvestAnswers: Host Calls Solana ($SOL) the Top Ethereum Competitor (Cryptoglobe)

NOTABLE VOICES

• Lou Kerner: Makes UST/USD Comparison, Stating Unbacked Things ‘Go to Zero’ (BIC)
  
• Anthony Pompliano: Bitcoin Bull Anthony Predicts What Will Bring $BTC’s Next Wave of Adoption (Cryptoglobe)
• Alex Mashinsky: Crypto Winter? Celsius CEO Says Inflation Numbers Could Decide Next Direction for Markets (TDH)
• Anthony Scaramucci: SkyBridge Capital Founder on Crypto Market says “We Haven’t Sold One Position” (Cryptoglobe)
• Justin Sun: TRON Founder Talks Up New Algorithmic Stablecoin, Despite LUNA Crash (BIC)
• Dan Gambardello: Calls Cardano ($ADA) ‘Most Sound, Secure, & Scalable Blockchain’ (Cryptoglobe)
  
• Charles Hoskinson: Cardano Founder says Vasil Hard Fork on Track, Tells Newcomers to Crypto No Need to Panic (UToday | Cryptoglobe | UToday)
• Brian Armstrong: Coinbase CEO: Cryptoeconomy Is Going To Represent Probably ‘15% or So of Global GDP’ (Cryptglobe)
• Michael Saylor: Michael ‘Diamond Hands’ Saylor Not Worried About Recent Drop in Bitcoin Price (Cryptoglobe)
• Saifedean Ammous: ‘Bitcoin fixes’ inflation and government control over people’s wealth says ‘The Bitcoin Standard’ author (Finbold)
• Jack Dorsey: Names Reason for Next Bitcoin Price Surge (UToday | Cryptoglobe)
• Dominik Schiener: 6 Questions for the IOTA Foundation Founder (Cointelegraph)

PEOPLE ON THE MOVE

• Crypto VC firm Paradigm communications chief Jim Prosser to step down next month (TB)

ACCEPTANCE/ADOPTION

• Accessibility is the main barrier to crypto adoption — Here are the solutions (Cointelegraph)
• On-chain privacy is key to the wider mass adoption of crypto (Cointelegraph)
• Soccer Team RCD Espanyol to Become the First Spanish Club to Accept Crypto Payments (CryptoPotato)
• Dispersed and displaced, Ukraine’s crypto industry adapts to war (TB)

ACQUISITIONS /PARTNERSHIPS

• SBI Holdings to buy controlling stake in BITPoint for about $99 million, Cryptonews reports (TB)
  

WEB3

• Scarce Virtual Land Is a Losing Strategy, Co-Founder of Nifty Island Says (Blockworks)
• Life-changing money: The 10 most expensive NFTs sold to date (Cointelegraph)
• Morgan Stanley Says NFTs Next to Watch After UST Collapse (Coindesk)
• Largest Metaverse GameFi Project Of 2022, Gensokishi Online, Opens Applications For Closed Alpha (Bitcoinist)
• Meet Fuzzle, the Adorable, Conspiracy-Spouting NFT That Spouts Dating Advice (Decrypt)
• How the Metaverse could impact the lives of kids (Cointelegraph)
• DAOs, DEXs and whales? How Web3 organizations became the new crypto beasts (Cointelegraph)
• Michael Owen Criticized for Bold Claims That His Legacy NFT Collection Can’t Lose Value (CryptoPotato)
• NFT Prices Take A Beating After Crypto Market Chaos (NewsBTC)
• Costly Mistake: Someone Just Sold a Bored Ape NFT for 200 USDC (CryptoPotato)
• UK Court recognizes NFTs as ‘private property’ — What now? (Cointelegraph)
• NFT visionaries are doubling down on community ethos amid a bearish cycle (Cointelegraph)

CEFI/DEFI

• Coinbase To Take DeFi-first Approach With its App and Wallet (Blockworks)
• Multiple DeFi Protocols Resume Operations Following GoDaddy Exploit (BIC)
• Solana (SOL) TVL Reaches 2022 Low; Crashes More Than $6 Billion (BIC)
• DeFi transforming lending routes on the blockchain (Cointelegraph)
• PancakeSwap’s New Proposal Aims to Cap CAKE Supply at 750 Million (CryptoPotato)
  

BLOCKCHAINS

• Jack Dorsey's Square May Provide Liquidity for Lightning Network Payment Channels in Near Future (UToday)
• What is Lightning Network? Bitcoin's Scalability Solution (Decrypt)
• Will the Ethereum 2.0 update reduce high gas fees? (Cointelegraph)
• Polygon, Juno and Fantom blockchains try to lure Terra's projects (TB)
• Can Litecoin Reenergize Users With New MimbleWimble Upgrade? (Opinion) (CryptoPotato | UToday)
• Security Concerns Prompt Cancellation of Terra Dapp Expo (BIC)
• How Metaplex Is Solving Solana’s Network-Crashing NFT Botting Problem (Decrypt)

COINCORNER RELEASED A LIGHTNING NFC CARD FOR BITCOIN

EXCHANGES

• What really goes on at a crypto OTC desk? (Cointelegraph)
• Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x (Cointelegraph)
• Why Keeping Bitcoin On An Exchange Is Driving The Price Down (Forbes)
• Kraken CEO Shuts Down San Francisco Headquarters – Here’s Why (Bitcoinist)

BRAZILIAN STOCK EXCHANGE TO BEGIN TRADING BITCOIN FUTURES THIS YEAR

MINING

• Australian Bitcoin Mining Firm Not Worried About Recent Crypto Market Correction (Cryptoglobe)
• Bitcoin miner Bitfarms scales back growth plans for 2022 after drop in revenue, net profit (TB)
• Bitcoin network fortifies as mining difficulty records ATH of 31.251T (Cointelegraph)
• Colorado-Based Bitcoin Mining Operation Expands Into Texas; Could Consume Enough Power to Light 200,000 Homes (BIC | Bitcoinist)

LEGISLATION/REGULATION/TAXATION

• Global financial regulators will discuss crypto at G7: Report (Cointelegraph)
• Stablecoin Regulations Need To Allow Room for Failure, Says Crypto-Friendly SEC Commissioner Hester Peirce (TDH | Bitcoinist)
• FTX CEO Testifies at House Hearing; Defends Plan to Automate Futures Market (BIC)
• U.S. Department of Justice Lays First Criminal Crypto Sanctions Charge (BIC)
• South Korean president’s plan to raise crypto tax threshold hits snag, Forkast says (TB)
• Central African bank regulator reminds member states of crypto ban, Reuters reports (TB)
• Crypto capital gains one of four key areas for Australian Tax Office (Cointelegraph | Blockworks)

FOLLOW DAT MONEY

• Flow Launched a $725M Fund Backed by a16z, DCG, Coatue (CryptoPotato)
• Barclays & Goldman Sachs Backs Elwood Crypto Trading Software Platform (BIC)
• Square Enix plans to issue tokens and invest heavily in Web3 gaming (Cointelegraph)
• The Brazilian Stock Exchange will launch Bitcoin and Ethereum futures (Cointelegraph | BM)

THE BAD

• The man who broke into Terra CEO’s residence was a crypto investor who lost $2 million (Finbold)
• Crypto Data Aggregator Websites Targeted in New Phishing Attempts (BIC | UToday)
• Five US States Issued Order to Stop a Fraudulent Russian Metaverse Project (CryptoPotato)
• Singaporean LUNA and UST Investor Reportedly Files a Police Report Against Terra’s Do Kwon (EWN)
• DeFi attacks are on the rise — Will the industry be able to stem the tide? (Cointelegraph)
• New York crypto company CEO arrested by FBI, charged with fraud (TB)
• Coinbase Sued by Customers Who Lost ‘Untold Millions’ to Little-Known Crypto Project: Report (TDH)
• NFT scams: How to avoid becoming a victim (Cointelegraph)
• After Crypto Slump, Phishing Attacks Pop-Ups Targeting Metaverse Users (Bitcoinist)

PODCASTS

• What Bitcoin Did: Texas is Bitcoin Country with Will Cole
• The Pomp Podcast: #963 Yat Siu On Why Digital Property Rights Are So Important
• The Breakdown: How Should Washington Regulate Stablecoins?