Crypto Weekly Summary Hot News Terra Luna

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

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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

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.


Microsoft x AstridDAO

Exciting news from the Astar ecosystem. The project AstridDAO being

built on Astar has officially announced a partnership with Microsoft. This

partnership has huge implications for the ecosystem as a whole.

Microsoft, a powerhouse of innovation bringing their resources and

technology to AstridDAO. Endorsing and coaching the project shows that

the tech giants are paying attention to Astar and the projects being built

on the network.

AstridDAO is a decentralized money market with a fully backed

stablecoin, $BAI, which is hard-pegged to the US Dollar .Microsoft welcomes AstridDAO to the Microsoft for Startups program.This partnership accelerates business development and growth removing

the traditional barriers involved in building a company


Policy Quotes

Fed vice chair: We should play a key role in setting global standards for

cryptocurrencies

Fed Vice Chairman Brainard said we should play a key role in setting

global standards, with recent volatility in stablecoin markets showing the

need for regulation. He also said that the Fed has not yet made a

decision on issuing a central bank digital currency (CBDC) and should

assess the possible impact on the U.S. dollar in the absence of a U.S. dollar CBDC. A digital financial system needs clear regulatory guardrails,

a USD CBDC is a way to ensure the continued use of the USD globally,

new digital currencies such as stablecoins can lead to counterparty risks,

and private funds can create consumer protection and financial stability

risks. (Golden Ten)

a16z: The market value of carbon credits may grow to $50 billion by

2030, and on-chain carbon credits will help facilitate this reality

According to official sources, a16z published an article explaining the reasons for investing in the blockchain carbon credit trading platform

Flowcarbon. The article points out that by 2030, the carbon credit

market may grow to $50 billion, and on-chain carbon credits help

achieve this reality. On-chain carbon credits are an innovative primitive

that can be integrated into existing DeFi ecosystems as a composable

financial tool, and are creatively used by Web3 builders to come up with

entirely new ways to incentivize climate-positive behavior . Flowcarbon’s

GNT tokens are fully backed by the real-time value of off-chain credits

and can be used as collateral, protocol treasury assets, stablecoin

reserves, or to offset on-chain carbon credits. These use cases can drive

potential sources of demand, further incentivizing new supply channels,

primarily nature-based solutions and clean energy projects. a16z

believes that on-chain carbon credits will become a key part of the financial architecture, driving a zero-carbon future. Yesterday's news,

Flowcarbon completed a $70 million financing, a16z led the investment,

General Catalyst and Samsung Next participated in the investment.

(a16z)


Russian financial market official: Russia's first digital financial asset is

expected to appear this year


The authorized Russian blockchain platform may issue its first digital

financial asset (DFA) by the end of 2022, according to Anatoly Aksakov,

chairman of the Russian State Duma Committee on Financial Markets.Aksakov noted that Russia is now actively working in this area after

passing a law “on digital financial assets” that will go into effect in

January 2021. DFA is the legal term for including cryptocurrencies in

current Russian legislation. In addition, Aksakov revealed that three

platforms developed by Norilsk Nickel subsidiary Transmashholding and

Russia’s largest bank Sberbank have registered as DFA publishers. The

other two will be approved in the near future. Aksakov emphasized that

the Russian government supports the legalization of the digital asset

market through strict regulation and has created a new bill for this

purpose. He was referring to the law“on digital currencies”drafted by

the Ministry of Finance, which has not yet been submitted to the State

Duma. (News Bitcoin)


Vitalik:Would like to see Ethereum become a system more like Bitcoin


Ethereum founder Vitalik Buterin tweeted that there are still some open

contradictions in my thinking and values that I have been thinking

about but still feel like I haven’t fully resolved them. I would like to see

Ethereum become a more Bitcoin-like system with an emphasis on

long-term stability, including cultural stability, and I realize there is a

conflict between the fact that it takes quite a bit of actively coordinated

short-term change to get there . I tend to be less reliant on individuals

and try to build fixed systems that will stand the test of time. I would liketo see Ethereum become an L1 that can survive in really extreme

situations, but I realize that many critical applications on Ethereum

already depend on things that are more fragile than anything we think is

acceptable in the Ethereum protocol design There are many security

assumptions, and there is a contradiction between the two. I don't like a

lot of modern financial blockchain "applications" (high price NFTs, etc),

but what I grudgingly appreciate is that these things are an important

part of keeping the cryptocurrency economy going and provide all the

cool DAOs/governance I love Pay for experiments.


Morgan Stanley: UST crash will lead to reassessment of other

cryptocurrencies, NFT prices


In a report published last week, Morgan Stanley said the sharp declines

in bitcoin, ethereum and other tokens were unrelated to the stock

market drop, according to Fortune. Instead, the higher price is due to

"investor speculation and limited actual user demand." With the collapse

of Terra's stablecoin UST, the market will also see a broader

reassessment of the prices of other digital assets including

cryptocurrencies, NFTs, digital real estate, and more, and investors

should remain vigilant as it may be the next drop of.German regulator calls for new DeFi regulations

Germany's financial watchdog says DeFi needs to comply with new

regulations, citing the risk of hacking and fraud. Birgit Rodolphe,

anti-money laundering officer at BaFin, Germany’s financial regulator,

said that “if DeFi is going to become a real competitor in traditional

financial markets, it will not work without specific new regulations.”

"Ideally, these regulations would of course be consistent across the EU to

prevent market fragmentation and enhance Europe's collective

innovation potential," she added. (CoinDesk)




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