MARKET
European and Asian markets slide, expecting futures markets to open to the downside Monday morning.
Covid lockdowns, inflation risks, and market turmoil have investors cautious.
Amazon CEO fires back on twitter to the Biden administration on inflation.
Says Taming inflation is critical to discuss.
Jet blue makes a 77% premium offer to acquire budget airline rival Spirit Airlines.
Commodities prices continue to rise over the weekend with Natural Gas and Corn up 2%.
Wheat pushing towards its yearly ATH up 5% this weekend.
https://twitter.com/JeffBezos/status/1525309091970699265
https://www.reuters.com/markets/europe/futures-slip-china-data-sparks-growth-fears-2022-05-16/
https://www.cnbc.com/2022/05/16/jetblue-launches-hostile-takeover-bid-for-spirit-airlines.html
BTC
Facebooks parent company “META” has officially adopted bitcoin.
Development will be head up by the newly formed company “Lightspark” and its team.
Facebook in the past as been unsuccessful in launching its own blockchain stable coin.
Shanghai High People’s Court in China rules bitcoin identified it as a virtual property and therefore protected under Chinese laws.
“Virtual currency-related business activities are illegal financial activities,” says the People’s Bank of China
Bitcoin trading down this morning under 30k
https://beincrypto.com/china-high-court-declares-bitcoin-protected-under-chinese-law/
https://cryptoslate.com/bitcoin-closes-7th-red-weekly-candle-for-first-time-ever/
https://protos.com/meta-adopts-bitcoin-after-its-own-stablecoin-failed/
ETH
Vitalik supports a Terra recovery the focuses on the bottom 99.6 of wallets.
Offers suggestions on how Terra could accomplish this on twitter.
Coin Telegraph reports a bear flag on Eth’s last 3 days.
Says Crypto’s number 2 could see as much as a 25% downturn, expecting a selloff before its pump back up.
HEAT
Juno, Matic, and Fantom try to entice Terra projects to their ecosystem.
Polygon CEO says its already collaborating with terra based nft projects.
Juno initiates a governance proposal to fund 1 million dollars for terra project migration.
Fantom announces its offering grants to lure terra projects in.
YouTube crypto channel Coin Bureau makes the case for explosive price in ALGORAND.
With UI improvements and adoption grown ALGO could see its best days ahead of it.
Addressing the House of Lords, Prince Charles lays out UK’s legislative agenda for the year.
The address to British parliament included 38 bills, one with an emphasis on crypto currencies and stable coins.
https://bitcoinist.com/stablecoins-receive-queens-blessings/
LENDING
Kava’s stable coin USDX falls to 0.65 amid terra collapse.
Transparency I’m a KAVA holder and this was absolutely zero fun for me over the last week.
That said USDX trends toward a dollar, it isn’t a stable token as USDT/DAI/USDC are.
Since I’ve been in the platform it’s never been pegged.
USDX currently sits at 0.82 on Monday.
Celsius Network announces the completion of registering Celsius Mining LLC with the SEC.
Celsius Mining LLC will is a Bitcoin mining subsidiary of Celsius Network.
This news sees its token rebound from some pretty dire losses over the last few weeks. Currently up 15%
https://finance.yahoo.com/news/celsius-network-announces-confidential-submission-115800061.html
GAMING
CEO of Star Atlas, Michael Wanger directs his team create a virtual empire in the metaverse.
Still in its early phases a huge undertaking, which includes restricted gameplay and the ability to purchase NFT (non-fungible token) assets.
Twitch cofounder Kevin Lin’s raises 24m for blockchain games.
In an interview with GamesBeat, Kevin says “…I wanted to build something there. … Metatheory is redefining how games and stories are told from the bottom up using web 3 primitives”
SRG Studios is launching its ‘Cosmic Coffee Cups’ NFT collection.
Cosmic Isles lets game players interact in a transparent yet flourishing virtual marketplace.
Players can explore the world using their avatars and earn tokens to mint items, weapons and gear.
https://www.cryptopolitan.com/wagner-is-eager-to-develop-virtual-nation/
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