Select observations of the day:
L2 protocol Optimism removed an additional 17k sybil addresses and recovered over 14M OP tokens. All of the OP recovered will be redistributed proportionally to other airdrop recipients - source
Tron has overtaken Avalanche to become the 3rd largest defi network by TVL - source
BNB has flipped USDC to become the 4th largest cryptocurrency by market cap
Filecoin Foundation and aerospace tech firm Lockheed Martin announced plans to build decentralized infrastructure to share information, hasten communication and reduce storage costs between earth and space - source
Terra Prop 1623 revival plan is not proposing a “fork” of the existing chain, but rather the creation of a new one - source
ConsenSys announced a partnership between Infura and NEAR Protocol, their first expansion beyond EVM compatible chains - source
Coinbase added BNB Chain and Avalanche to its list of supported networks for the Coinbase Wallet in addition to Ethereum and Polygon - source
Coinbase becomes the first crypto company to enter the Fortune 500 list, ranking at 437 - source
Plus more. The pieces continue to move around the board
- Time moves differently in crypto. Crypto is an intricate game filled with various players operating across multiple time frames and with varying agendas. Day in, day out, the pieces are moving all across the board. Sometimes for the better and sometimes for the worse. Here’s a small glimpse of what has happened so far today in our little crypto bubble -
Chain News:
L2 protocol Optimism announced that they’ve removed an additional 17k sybil addresses and recovered over 14 million OP. All of the OP recovered will be redistributed proportionally to other airdrop recipients - source
Tron has overtaken Avalanche to become the third-largest defi network by TVL - source
Filecoin Foundation and aerospace tech firm Lockheed Martin announced plans to build infrastructure to share information, hasten communication and reduce storage costs between earth and space - source
Coinbase added BNB Chain and Avalanche to its list of supported networks for the Coinbase Wallet in addition to Ethereum and Polygon - source
BNB has flipped $USDC to become the 4th largest cryptocurrency in the world by market cap
Terra Prop 1623 revival plan is not proposing a “fork” of the existing chain, but rather the creation of a new one - source
ConsenSys announced a partnership between Infura and the NEAR Protocol. The integration marks Infura’s first expansion beyond Ethereum Virtual Machine (EVM)-compatible chains - source
Zcash 'Network Upgrade 5' (NU5) on May 31st. NU5 is the largest network upgrade in Zcash's history - source
Nigeria to Launch Major Crypto Initiative, IP Exchange Marketplace and Wallet, on Algorand - source
Korean police seek freeze on Luna Foundation Guard assets - source
Microsoft Adopts AstridDAO to Accelerate Growth of Decentralized Money Market and Stablecoin, $BAI - source
Alchemix will adopt a vested escrow (ve) token model pioneered by Curve DAO as the foundation for their new tokenomics - source
The total staking amount of the Ethereum Beacon Chain has exceeded 13M ETH, and the total number of validators has reached 388,427. The total value of ETH staking on the Beacon Chain has exceeded $25.9B - source
Astroport + Terra 2.0: A new path forward after the crash - source
Insights: Gitcoin Airdrop Analysis - source
Axelar has announced the launch of its AXL token on July 14th - source
Existing Deposit Addresses & Memo on Cosmos Network (ATOM) to Be Retired
01 Exchange: $SRM grant proposal that aims to incentivize increased liquidity and trading on top of Serum derivatives - seeks to utilize 10m $SRM for LP emissions on top of a unique AMM model - source
Project Liberty, the initiative backed by real estate billionaire Frank McCourt aimed at disrupting today’s social media platforms, will run as a Polkadot parachain
Pawn protocol has received a GRANT from the NEAR Foundation to build out the first P2P Lending marketplace on NEAR - source
Velodrome announces first official launch partnership: Perpetual Protocol - will be receiving a veNFT representing ~1% of initial voting power which they'll use to steer emissions and receive fees / bribes - source
Phoenix Finance will be the first decentralized exchange built for Terra 2.0 with a team composed of Terra-native engineers - source
SeatlabNFT IDO on skyward finance is now live: May 24th - 30th - source
Connext upgrade, web3 infrastructure - Amarok is on Public Testnet - source
Atlendis Labs protocol is now live on Kovan Test Network - source
USDTea: A New Stablecoin Backed By Iced Tea Cans (lol) - source
Metaverse News:
Move To Earn Game StepN announced "realm" a server that hosts a fork of the game. Different users play the same game in different realms. Energy are shared across realms, GMT are bridged across realms, The in-game utility tokens are NOT bridged across realms - source
Basketball legend Magic Johnson is launching “The anthology: Magic Johnson” NFT collection on NBA Top Shot on June 7 and be composed of 1,600 NFT packs - source
News:
Coinbase becomes the first crypto company to enter the Fortune 500 list, ranking at 437 - source
PayPal VP: Shall Integrate All Crypto and Blockchain Services - source
FTX reportedly looking to buy brokerage start-ups in expansion into stocks. Webull, Apex Clearing and Public.com were among the companies FTX has spoken to in recent months - source
Ex-Deutsche Telekom Team Launch Liquid Staking Division at Crypto Custodian Finoa. Newly formed Finoa Consensus Services is working with staking specialist StakeWise - source
Nasdaq volatility reaches highest level since March 2020 - source
Central African Republic will launch the continent’s first legal cryptocurrency investment hub, extending the impoverished country’s embrace of digital finance despite words of caution from the IMF - source
Raises:
Climate Company Flowcarbon Raises $70M Through A16z-Led Round, Sale of Carbon-Backed Token - source
ADDX, a blockchain and smart contract-based digital securities platform from Singapore raised $58M to fund its goal of reducing minimum private investment sizes via tokenization and fractionalization - source
Common Raises $20M to Build DAO Management Platform, Launch Token - source
Azra Games, a blockchain gaming company, has raised $15 million in a seed round led by Andreessen Horowitz - source
Pebble, a crypto app that lets people save, spend and send money, has raised $6.2M in its seed funding round. It aims to bring “the next 100 million people” into crypto - source
Cyper capital allocates $5M to Ocean Protocol Ecosystem projects - source
The Unfettered, a AA story-based game, from Awkay Technologies Raises $2.5M in Private Investment Round - source
Decentralized wireless network Hexagon raises $2M in seed round - source
Loan infrastructure for gaming assets Voyage Finance has closed $1M pre-seed round. Investors: Delphi Ventures, BlockchainSpace - source
New Listings:
Binance Futures Will Launch BUSD-Margined ANC Perpetual Contracts - source
Alchemy Pay (ACH) Gets Listed on KuCoin on May 25th - source
Secret (SCRT) Gets Listed on KuCoin on May 25th - source
Crypto.com Exchange lists SuperRare RARE
Project Galaxy is listed in the Crypto.com App - source
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