The crypto news of May 17, 2022


Today’s crypto news is brought to you by the exchange KuCoin.

  • New information has fueled speculation that Do Kwon (from his real name Kwon Do-hyeong) was aware that a storm was brewing for the platform Terra (LUNA) – and the founder of Terraform Labs reportedly took steps to dissolve the national branches of his company as early as last month. Read more.
  • The Luna Foundation Guard (LFG), the entity that was tasked with keeping the terraUSD (UST) peg stable, said it spent almost all of its bitcoin (BTC) held in reserve to defend the UST dollar peg. who collapsed. On Monday, the reserves were 313 BTC ($9.26 million) and 39,914 BNB ($11.74 million).
  • The new Portuguese Minister of Finance Fernando Medina confirmed that crypto-assets will be taxed in the near future.
  • The Japanese financial services giant Nomurawhich is multiplying crypto initiatives, will launch a new company to help institutional clients diversify into cryptocurrencies, DeFi and NFTs.
  • The Tezos Foundation recently said it has committed $1.23 million to a fund that will be used to collect Non-Fungible Tokens (NFTs) created by African and Asian artists. Photographer Misan Harriman has been chosen as curator of the foundation’s permanent art collection.
  • Have Sam Bankman-Fried’s comments on Bitcoin (BTC) been misrepresented by the Financial Times? The CEO and founder of the crypto exchange FTX, and investor in Solana (SOL), has been accused of misleading the public by omitting important facts about Bitcoin (BTC). The CEO refutes these claims and says his quotes were chosen “very selectively” by a mainstream media outlet known for its Bitcoin and crypto skepticism.
  • The product comparison platform finder․com surveyed 36 fintech experts about the terra (LUNA) cryptocurrency before terraUSD (UST) lost parity with the US dollar. According to the poll, Finder experts predicted that LUNA would be at $143 before the end of the year. At the time of this writing, the LUNA is worth far less than a US penny and although it has gained over 23,000% in the past three days from its all-time low, it is expected to take a jump of 58,331,533% to hope to reach $143 per unit.
Finder's Poll Conducted Weeks Before Terra's Fallout Predicted LUNA Would Tap $143 This Year

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