South Korean authorities have formed an emergency financial crimes unit to investigate the collapse of stablecoin protocol Terra, and fined the protocol’s founder, Do Kwon, $78M for tax evasion, local media reported. The government agencies want to understand why UST, Terra’s US dollar stablecoin, lost its peg on May 9. The crash wiped $18 billion…

Traders have taken advantage of the Fantom-based lending protocol having hard-coded fUSD and DEI at $1 despite the tokens trading below their pegs. 

Trends in Fashion NFTs and the Metaverse.

The market capitalization of dollar-pegged stablecoins has dropped by $25B in the wake of Terra's collapse.

Crypto markets have stabilized, ending a market free-fall that erased $693B from crypto’s market capitalization from May 5 to May 12. Crypto’s market capitalization fell from $1.81T on May 5 to lows of $1.12T on May 12. The market started to rise on Friday, and now rests at $1.28T, data from CoinMarketCap shows. The crash…

Norway’s central bank is embracing Ethereum’s Layer 2 for its central bank digital currency (CBDC) pilot. On May 16, Nahmii, an Ethereum L2, announced it had been tapped by Norges bank to host the sandbox for the country’s national currency, the krone. Nahmii said in a statement that it will “build, maintain, and train Norges…

After UST’s fall, we are starting to see a shift in preference between stablecoins. In this video we take a look into where the big players are allocating their capital.

ConsenSys-backed VillageDAO will provide customer care services to other web3 projects – with the first client being Metamask.

Robinhood will launch a Web3 wallet and plans to cover gas fees for users.