In your nightly crypto news wrap up, we bring you the top crypto stories. In today’s video, Ben is going over the latest Bitcoin price action. How are the crypto markets looking, and how are the bulls acting? Next, he’ll talk about British stable coin regulation. Finally, he’ll discuss how Terra Luna plans to compensate the smallest holders. Do they deserve more than the whales?
What We Discuss:
0:00 Intro
0:19 BTC news
1:44 Market watch with Frankie Candles
2:51 Stablecoin legislation in the UK
3:50 Greyscale listing crypto ETF
4:32 Terra Luna news
SOURCES:
https://cointelegraph.com/news/first-7-week-losing-streak-in-history-5-things-to-know-in-bitcoin-this-week
https://protos.com/meta-adopts-bitcoin-after-its-own-stablecoin-failed/
U.K. Treasury Confirms Stablecoin Legislation Part of Upcoming Bill
https://cryptopotato.com/grayscale-to-list-a-crypto-etf-in-europe-report/
An exciting milestone: Announcing our first European ETF, Grayscale Future of Finance UCITS ETF — listing on London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra.
https://t.co/kwmWSxvOiV— Grayscale (@Grayscale) May 16, 2022
5b/ TFL, on behalf of the Foundation, executed the following exchange trades in a last ditch effort to defend the peg:
— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022
6/ Sold 33,206 $BTC for an aggregate 1,164,018,521 $UST
— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022
1/ As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets:
· 80,394 $BTC
· 39,914 $BNB
· 26,281,671 $USDT
· 23,555,590 $USDC
· 1,973,554 $AVAX
· 697,344 $UST
· 1,691,261 $LUNA— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022
8/ As of now, the Foundation’s remaining reserves consist of the following assets:
· 313 $BTC
· 39,914 $BNB
· 1,973,554 $AVAX
· 1,847,079,725 $UST
· 222,713,007 $LUNA (of which 221,021,746 is currently staked with validators)— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022
10/ The Foundation is looking to use its remaining assets to compensate remaining users of $UST, smallest holders first.
We are still debating through various distribution methods, updates to follow soon.
— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022
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