Huobi Global Weekly News（05.09-05.15）

1. The circulating supply of LUNA surged by 6,530.7 billion last week, and the total supply reached 6,531.1 billion, an increase of 1908,651%;

2. South Korea's financial regulator says it can't take action on LUNA incident yet;

3. Musk says he remains committed to acquiring Twitter but is on hold as it awaits confirmation of details.

#LUNA

1. Terra plans to burn $1.4 billion UST and stake 240 million LUNA;

2. Terraform Labs: Three urgent measures are being taken to clear UST bad debts;

3. South Korea's financial regulator says it can't take action on LUNA incident yet;

4. VanEck and 21Shares suspend trading of 2 Terra ETPs;

5. Terra Community new proposal propses to issue new LUNA tokens;

6. Blizz Finance assets drained by attackers due to LUNA oracle pausing;

7. Terra founder's home address information was leaked;

8. Terra blockchain has resumed block production;

9. Larry Cermak: I think the only way out of this mess is to give up on UST;

10. Vitalik Buterin: Supports proposal to prioritize smaller Anchor wallets;

11. BlackRock and hedge fund giant Citadel Securities have denied trading the troubled UST.

#STABLECOIN

1. Investors turn to other stablecoin such as DAI amid Terra's collapse;

2. Circle releases USDC transparency and trust report, reserves total $50.6 billion;

4. Glassnode said that stablecoin supply experienced first large-scale contraction;

5. Tether cuts holdings of commercial paper, says majority of exposure in Treasuries;

6. Tether CTO said Tether is honouring USDT redemptions at $1 and algorithm stablecoin must have at least 3 times reserve pool of crypto assets;

7. 'Crypto Mom' hints at stablecoin regulation after Terra collapse;

8. UST’s Do Kwon was behind earlier failed stablecoin, ex-Terra colleagues say.

#POLICY

1. Regulators are getting nervous about stablecoins after Terra's stunning collapse;

2. Nigeria issues crypto asset rules in move seen boosting trade;

3. India’s Goods and Services Tax Council considers a 28% tax on crypto;

4. Korean Court gains support from exchanges in bid to include crypto in bankruptcy cases;

5. El Salvador's President shows plans of proposed ambitious Bitcoin city;

6. Putin obliges election candidates to report crypto holdings outside Russia;

7. Deputy Treasury Secretary said stablecoins need to comply with bank secrecy laws and anti-money laundering requirements.

#CRYPTOCURRENCY

1. Ethereum core developer Tim Beiko: Ropsten is expected to merge around June 8th;

2. Nomura starts offering Bitcoin derivatives to clients in Asia;

3. 330,000 ETH valued at nearly $825 million have been moved into crypto exchange wallets in the last two weeks;

4. Michael Saylor said that if price of BTC falls below $3,562, company could post some other collateral;

5. The addresses ranked 103-114 on the BTC rich list increased their holdings of over 100 BTC yesterday;

6. Jack Dorsey names reason for next bitcoin price surge;

7. El Salvador bought 500 BTC at an average price of $30,744.

#NFT

1. OpenSea roll out changes aim at improving authenticity and reducing copymints;

2. Rarible NFT trading platform Discord was attacked;

3. KFC launches Original Moments NFT in Malaysia;

4. Head of Instagram says no fees to post or share NFT on Instagram;

5. Meta starts testing digital collectibles and NFTs on Instagram;

6. Solana network NFT transaction volume increased by more than 250% in May.

#METAVERSE

1. Facebook-owner Meta prepare cutbacks in its metaverse core unit Reality Labs division;

2. Samsung Electronics is building its own metaverse;

3. Amber Group announces entry into metaverse, will launch web3 platform Openverse in the third quarter;

4. Lululemon has submitted metaverse and NFT-related trademark applications;

5. Esports club FPX announces the launch of the FPX Metaverse;

6. Qualcomm CEO: The metaverse is ‘going to be a very big opportunity.

#DEFI

1. Bank of Spain governor highlights need for fast regulation in Defi and crypto;

2. Kava releases proposal to remove UST collateral and LUNA, UST liquidity pool;

3. Anchor Protocol stops interacting with xAnchor & EthAnchor or bridging collaterals to Terra;

4. Sushi 2.0 community proposal passed the vote with 91.78% support;

5. European Union plans pilot project on DeFi supervision;

6. Report: 97% of crypto hacks were against DeFi projects;

7. Juno publishes proposal to provide incentives for projects to migrate from Terra to Juno;

8. Venus to vote to remove LUNA and UST on May 18.

#FUNDING

1. Sfermion plans to launch a game fund and raise $100 million;

2. Chainalysis closes $170M Series F at $8.6B valuation;

3. Oasis Pro Inc. announces its oversubscribed $27+ million strategic financing round;

4. Web3 startup Naetion secures $150m Investment From GEM Digital;

5. Citigroup, Wells Fargo join $105 million round for crypto infrastructure firm Talos.

#WEB3

1. Meta is developing Web3 technologies such as blockchain and NFT and it is collaborating with Polygon to enter web3;

2. The web3 platform Flow launched a $725 million ecological fund;

3. Vitalik Buterin and others jointly publishes the paper " Decentralized Society: Finding Web3's Soul;

4. Irene Zhao’s influencer platform SO-COL is raising funds at a $100 million valuation;

5. Rock Hill County is setting up a special economic zone for crypto, Web3, blockchain.