Crypto Weekly Summary Hot News Terra Luna ~ Cryptops

Hot news weekly from Gate.io

We have summarized the weekly hot spot report of blockchain

industry for you, including four directions: Hot words ,Policy Quotes,Top

Discussion Coins of theWeek,Follow new listing coin/token

,which can be used as the subject source of your videos

orarticles. Please read it.

Hot words

Terraform Labs

Do Kwon disbands Terraform Labs before LUNA and UST collapse

Official documents leaked online show that Terraform Labs in Seoul and

Busan, South Korea, disbanded on April 30, days before the collapse of

Terra cryptocurrencies LUNA and TerraUSD stablecoin (UST). Terraform

Labs Korea decided to dissolve its Seoul and Busan divisions at its April

30 shareholder meeting, according to documents obtained by Digital

Today from the South Korean Supreme Court registry. The Busan branch

was liquidated on May 4 and the Seoul branch was liquidated on May 5,

with the name of the liquidator of official records designated Kwon

Do-Hyeong, the real name of Terraform Labs CEO Do Kwon.

EngageFi™ NFTPRESS RELEASE.

Miami, FL – VAST, the multimedia NFT marketplace

that dropped the first-ever NFT sitcom featuring Snoop Dogg and The

Harlem Globetrotters, has announced the completion of their strategic

private investment round with leading blockchain venture capital firms:

GHAF Capital, NGC Ventures, Skyman Ventures, Infinity Ventures Crypto,

and Spartan Protocol.

The VAST backers are made up of leading visionaries in the blockchain

space whose portfolios form much of the backbone of blockchain

infrastructure and innovation. Initial seed investors include: Huobi

Ventures, Polygon Studios, HyperEdge Capital, GHAF Capital, SL2 Capital,

PrimeBlock Ventures, GBV Capital, NGC, Spartan, IVC, Skyman Ventures,

LD Capital and Quantstamp. “We are incredibly grateful to our investors

for supporting the future of VAST, ” says Michael Jurkovac, VAST

co-founder and CEO. “ With their help, we are providing amazing

opportunities and experiences for creators and the millison of fans who

support them.”

Bitcoin Mining Difficulty Drops

Bitcoin Mining Difficulty Drops 4.33%, Biggest Reduction in 10 Months

It’s now 4.33% easier to mine bitcoin over the next two weeks as the

difficulty adjustment algorithm (DAA) dropped from 31.25 trillion to

today’s 29.85 trillion. It’s the largest DAA drop since July 17, 2021,when the difficulty dropped 4.81% at block height 691,488.

Bitcoin Mining Difficulty Dips 4.33% — The Largest Drop Since July 2021

Mining bitcoin is a lot less difficult than it was before May 25, 2022, as

Bitcoin’ s difficulty adjustment algorithm (DAA) saw a 4.33% reduction in

difficulty.

Prior to the drop, Bitcoin’s difficulty was approximately 31.25 trillion

and today, it’s approximately 29.85 trillion after the largest drop since

July 2021. The DAA change occurred at block height 737,856 on

Wednesday.

Wework

The co-founder of the company Wework, Adam Neumann, is behind a

new crypto project called Flowcarbon and on Tuesday, the blockchain

project revealed it raised $70 million from a handful of investors and was

led by Andreessen Horowitz (A16z). Flowcarbon’s chief executive Dana

Gibber says the project’s efforts provide a “brilliant financial mechanism

that creates a counterbalancing incentive to reforest, revitalize and

protect nature.”

Adam Neumann Backed Crypto Project Flowcarbon Raises $70 MillionA project backed by Adam Neumann, the co-founder and former

Wework executive raised $70 million from strategic investors, according

to an announcement published on Tuesday. Neumann is a controversial

character for his role in the company in 2019 when it was discovered the

firm could not turn a profit. In September 2019, Wework filed an S-1

filing for an initial public offering (IPO) stock launch and Neumann

resigned from his CEO position. Flowcarbon is a project Neumann

co-founded with his spouse Rebekah, Dana Gibber, Ilan Stern, and

Carolina Klatt.

Wework