@cryptocracy 28 May 2022 edited more from that month

Terra Luna Airdrops Today Coinbase executives, including CEO Brian Armstrong, sold off shares of the company and put **$1.2 billion in their pockets**. *Could this be why shares are in decline, or do they see the writing on the wall? What signal does it send if the top echelon of a company doesn’t have faith in their own stock?* https://www.wsj.com/articles/coinbase-leaders-net-1-2-billion-in-share-sales-11653606214?mod=markets_lead_pos10 Today is the expected launch of the new **Terra 2.0 blockchain**, with airdrops of the new Terra Luna (LUNA) to follow. *Who’s planning to take the money and run?* https://www.coindesk.com/tech/2022/05/27/new-terra-blockchain-expected-to-launch-on-saturday-luna-airdrop-to-follow/?utm_medium=email&utm_source=fintech-nexus-global-may-27-2022-2923022&utm_campaign=LendIt+Fintech+Global+Daily&utm_content=EbCm3lOlL-5VTPwKpXBuWq0cE7W_8TTx1C4SjTI2mP_nv2EgEbUnLuObh2kffS9O For months, we heard about **bitcoin’s correlation to stocks**. Well, the break has now **officially occurred**. Billionaire Bill Miller **calls it insurance** against financial catastrophe. *It’s probably temporary. Investors could be gaining some new confidence in the stock market and moving some of their crypto investments back into stocks. Wait till the next bull run starts.* https://blockworks.co/crypto-is-more-correlated-with-tech-stocks-than-ever-how-do-we-decouple/ https://www.bloomberg.com/news/articles/2022-05-27/bitcoin-extends-worst-losing-streak-since-2011-as-crypto-swoons https://cointelegraph.com/news/billionaire-bill-miller-calls-bitcoin-insurance-against-financial-catastrophe Ethereum Co-Founder Vitalik Buterin is a fan of **algorithmic stablecoins**. https://cryptoslate.com/ethereum-founder-vitalik-buterin-sees-potential-for-algorithmic-stablecoins/ Tether’s at it again. They’ve launched a new **stablecoin on Polygon**. That makes 11 blockchains now. *I’m just going to nickname it PolyTether. Or should that be Tethergon?* At any rate, this follows closely behind their move to launch a **stablecoin pegged to the peso**. *Amigo, mi dinero!* https://www.coindesk.com/business/2022/05/27/tether-expands-with-introduction-of-dollar-pegged-stablecoin-on-polygon/?utm_medium=email&utm_source=fintech-nexus-global-may-27-2022-2923022&utm_campaign=LendIt+Fintech+Global+Daily&utm_content=Ta5uznWSL4Krk1ynhsluUq0cE7W_8TTx1C4SjTI2mP_nv2EgEbUnLuObh2kffS9O https://cryptocracy.substack.com/p/from-fud-to-primitives?s=w

Binance is now **registered in Italy**. https://www.reuters.com/markets/us/binance-registers-with-italys-regulator-amid-plans-expand-europe-2022-05-27/ Yesterday, every top 10 cryptocurrency was down—**except Tron**. https://blockworks.co/every-top-cryptocurrency-is-down-except-justin-suns-tron/ Cardano Founder Charles Hoskinson says the Luna collapse proves crypto should **grow slowly**. *Smart people know things.* https://www.nasdaq.com/articles/cardanos-hoskinson%3A-luna-collapse-shows-need-to-go-slow-in-crypto The U.S. Federal Reserve Vice Chair says it will take **five years to launch a central bank digital currency** (CBDC), and only after Congress and the President approve. *I’m glad they’re not in a hurry.* Meanwhile, three U.S. Senators are trying to **ban China’s CBDC** from U.S. app stores. https://www.coindesk.com/policy/2022/05/26/us-fed-vice-chair-says-digital-dollar-would-take-5-years-to-launch/?utm_medium=email&utm_source=fintech-nexus-global-may-27-2022-2923022&utm_campaign=LendIt+Fintech+Global+Daily&utm_content=VGYbOHH-PIDsbU4O6sDxk60cE7W_8TTx1C4SjTI2mP_nv2EgEbUnLuObh2kffS9O https://arstechnica.com/tech-policy/2022/05/gop-senators-want-to-ban-chinas-digital-currency-from-us-apps-and-app-stores/ MetaMask is joining forces with Asset Reality to help in **recovery of stolen digital assets**. Here’s how Twitter is used for **crypto scams**. https://economictimes.indiatimes.com/markets/cryptocurrency/metamask-joins-forces-with-asset-reality-for-recovery-of-stolen-digital-assets/articleshow/91818366.cms https://indianexpress.com/article/technology/crypto/how-scammers-hack-twitter-accounts-to-steal-popular-nfts-and-digital-currencies-7939429/ While the U.S. has the most NFT company headquarters of all the countries in the world, the people who **conduct the most NFT searches** are in Taiwan. https://nftclub.com/a-world-of-nft-adoption/

Decentralized search engine Presearch has moved from **testnet to mainnet**. https://thenewstack.io/presearch-launches-decentralized-web3-search-engine/ Germany has launched the first national policy on crypto, and it looks like gains on crypto will be **free of taxation for a year**. https://www.coindesk.com/policy/2022/05/11/germany-publishes-first-nationwide-tax-guide-for-crypto/ The Spice DAO, which raised millions of dollars to purchase a rare copy of the *Dune* bible, are finally getting their **day of reckoning**. https://www.theverge.com/2022/5/27/23141188/dune-crypto-collective-spice-dao-nft-tv-series-charlotte-fang-remilia-controversy Paris Hilton wants to be **queen of the metaverse**. And if that isn’t enough, 81-year-old ex-Beatle Sir Ringo Starr is rolling out **his own NFT collection**. https://www.cnn.com/2022/05/27/tech/paris-hilton-metaverse/index.html https://www.inforney.com/entertainment/sir-ringo-starr-launches-an-nft-collection/article_19eddb02-fc9a-5747-9537-c804f7f2edcb.html *Remember, snark and commentary are free—and in italics.* Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto. *First published at* *Cryptocracy**. Not to be construed as financial advice.* https://cryptocracy.substack.com/p/coinbase-execs-exit-with-12-billion?s=w Image credit: NFT.com