Crypto Bulletpoint #14 – Weekend Edition 14th-15th May

Is this a recovery weekend or more blood ahead? well the weekend was greener than expected, but still folks be careful on the days ahead…


📉Market Movers 📈

  • The weekend started red as BTC is trading in the lower-mid $29k region and ETH on the low $2k area fighting to keep support
  • The weekend ended with BTC trading between the upper $30k region to the low $31k and ETH trying to hold the $2.1k line
  • SOL and ADA had a nice double digit green weekend
  • LUNA pumps and dumps repeatedly in weekend’s roller coaster run

📰Today’s News📰

  • DeFi insurance platform InsurAce has announced that it will pay out $12 million in USDT to subscribers who have a valid policy that provided coverage in the case of a UST de-peg
  • While investigations are underway regarding the ongoing attack on various crypto platforms, especially over MetaMask, those may be connected to the compromise of Coinzilla
  • Customers have sued Coinbase for promoting and trading GYEN a stablecoin pegged to the Japanese Yen that has since collapsed
  • CZ has clarified via Twitter that Binance did not invest $300 million in LUNA
  • Changpeng Zhao, CEO of Binance, has expressed dissatisfaction with Terra’s handling of the collapse of its native crypto asset LUNA and its stablecoin TerraUSD (UST). Zhao informs his six million Twitter followers in a lengthy thread that Binance reached out to the Terra team and offered advice on how to deal with the problem.

👍Adoption👍🏾

  • Nomura Holdings, a Japanese financial services firm, has launched Bitcoin derivatives for their Asian institutional clients
  • RCD Espanyol partnered up with Crypto Snack to become the first La Liga team to accept cryptocurrency as payment for tickets.
  • The market value of El Salvador’s holdings has dropped by nearly a third, according to a recent report published by The Wall Street Journal, as the recent cryptocurrency fall has substantially raised the risks of El Salvador defaulting on its obligations.The Securities and Exchange Commission of Nigeria has issued new rules to govern the issuance, custody, and exchange of digital assets, as well as classify them as securities.
  • The UK Treasury will push ahead with a plan to regulate stablecoins based on the Queen’s speech’s financial regulations.
  • The Shanghai High People’s Court in China determined that Bitcoin is a Chinese-law-protected virtual asset with economic worth.

📢Opinions📢

  • Terra’s proposal to fork the blockchain, according to Binance CEO Changpeng Zhao, would not work since it will not add value to the coin
  • TRON founder Justin Sun is still feeling very positive regarding the future of Algorithmic Stablecoins

👩‍💻Blockchain👨🏽‍💻

  • Nothing has happened yet… 🤖

🖼NFTs🖼

  • Nonfungible tokens are private property, according to the High Court of Justice in London
  • Earlier this week, former English football star Michael Owen alongside his business partner Oceidon presented his NFTs collection and get a lot of critics du etc the fact that it was mentioned that the Non Fungible Tokens are not going to fall in term of price

🗺Metaverse🗺

  • Nothing has happened yet… 🤖

🎮CryptoGaming🕹

  • Nothing has happened yet… 🤖

⛏Mining⛏

  • Nothing has happened yet… 🤖

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