Technology
Regulation
UK Treasury reaffirms commitment to regulate stablecoins following TerraLUNA fiasco
The UK's Treasury Department will be regulating stablecoins in a move that is set to create a healthy environment for stablecoin issuers and service providers.
Partnerships
Grayscale Investments rolls out its first European crypto ETF
The GFOF UCITS ETF will trade on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra.
Adoption
Dubai-based law firm, school to start accepting crypto payments
Ashish Mehta of Ashish Mehta & Associates claims Dubai and the UAEs regulatory and compliance framework encouraged his law firm to accept crypto payments.
Investments
Elwood Technologies raises $70M in Series A round led by Goldman Sachs
Elwood plans to use the $70 million to increase its product offerings and expand global operations.
Legal
Customers sue Coinbase for promoting and trading the GYEN token
The complaint claims that investors placed GYEN orders believing its value was pegged to the Japanese yen, but the price soared seven-fold before plunging 80%.
Adoption
Brokerage giant Nomura starts offering Asian clients BTC derivatives
Crypto trading firm Cumberland DRW completed Nomura’s first BTC derivative trade on the CME Group platform.
Legal
US prosecutors recommend minimum 1 year prison sentence for BitMEX co-founder Arthur Hayes
The prosecutors claim crypto platforms will not achieve compliance if their operators believe there are no meaningful repercussions for violating the law.
Stablecoins
TerraForm Labs CEO Do Kwon announces recovery plan for LUNA, UST following crash
Terraform Labs CEO Do Kwon suggests endorsing the community proposal 1164, which would increase UST's base pool from $50 million to $100 million.
Crime
Mining Capital Coin CEO charged with $62M crypto fraud
Mining Capital Coin CEO Luiz Capuci Jr. faces multiple charges and may be sentenced to up to 45 years in prison if convicted on all counts.
Exchanges
Coinbase to shut down some Russian accounts due to EU sanctions
Coinbase has asked select users to provide documents that prove they are not subject to EU sanctions before May 30.
NFTs
Nigerian firm Looty looks to repatriate stolen African art in digital form
Looty aims to find all looted African artwork and recreate it digitally in the form of 3D NFTs.
Analysis
Bitcoin whales continue dumping crypto as market conditions worsen
The number of Bitcoin whales is down to levels last seen earlier in 2022, and the volume of exchange inflows has also hit a three-month high.