Binance Suspends Spot LUNA, UST Trading as CZ Outlines Disappointment With Terra’s Actions. TerraForm Labs CEO says he was “very disappointed” with how the team handled the situation. LUNA's supply of LUNA has skyrocketed to over 6.5 trillion as of now from 350 million on May 9. The world’s largest crypto exchange suspended LUNA and UST spot trading shortly after doing so to the LUNA coin-margined perpetual contracts. The latter, being an algorithmic stablecoin, essentially allowed users to profit by arbitraging it against LUNA ever since it started to de-peg from the USD. Elon Musk Explained Why His Twitter Acquisition Is on Hold. Elon Musk informed that his acquisition of Twitter had been delayed because of issues related to fake accounts and scams on the popular social medial platform. Musk updated on May 13 that the deal has been put “temporarily on hold pending details supporting” this claim. His buyout offer, worth approximately $44 billion, was accepted in late April. Peter Schiff, one of the most vocal BTC critics, was quick to comment on Musk’s post, suggesting that the billionaire never actually intended to buy Twitter. FTX’s Sam Bankman-Fried Buys 7.6% Stake in Robinhood, HOOD Surges 23%. Bankman-Fried bought a stake in Robinhood because he regards it as an “attractive investment. Robinhood, through its communications team, echoed this statement in a tweet. Robinhood decided to dabble in crypto trading in 2018. Thereafter, the firm’s revenue shot up to $1.8 billion in 2021, from $278 million in 2019. Funded accounts also increased from 5 million to 22 million.

Soccer Team RCD Espanyol to Become the First Spanish Club to Accept Crypto Payments. RCD Espanyol will allow its supporters to buy tickets, food and beverage during matches, and merchandise products in bitcoin, ether, and other digital assets. The club partnered with Crypto Snack, a financial application based in Barcelona and Estonia, which has a native iGaming token, called SNACK. Mexican soccer team Tigres allows fans to buy passes for matches in crypto. The team partnered with Bitso to make it possible. The President of the team hinted that this might not be the last cryptocurrency endeavor initiated by the team. Bitcoin Stalls Below $30K, Polkadot Recovers Another 7% (Weekend Watch). The largest digital asset stood close to $40,000 before it plummeted by $4,000 in a day. It dumped further more in the next couple of days and found itself struggling to remain above $30,000. However, it seemed almost inevitable that it will break below that level. Binance Coin is close to $300 now, after dipping to $230 days ago. Ripple, Cardano, Solana, Polkadot, TRON, and Shiba Inu have retraced by up to 4%. Polkadot and Avalanche are the only notable price gainers. Bitcoin Cash and Monero have gained the most between 5% and 7%. 97% of Crypto Hacks Were Against DeFi Projects: Report. $1.7 billion worth of digital assets were stolen by perpetrators in 2022, with 97% coming from DeFi protocols. Money laundering and DeFi hacking have been the two major criminal activities on such protocols, Chainalysis’ report shows. Most stolen funds have gone to hackers with ties to North Korea. NFT Wash Trading is a form of market manipulation that artificially inflates an illiquid asset. Wallets controlled by the same entity can trade NFTs in between, giving market participants a wrong perception that the demand for the asset is higher than its actual level.

CZ Binance: I Would Like to See More Transparency From Terra’s Team. The CEO of Binance, Changpeng Zhao (CZ), said he expects more transparency from Luna’s team. CZ said that Binance didn’t participate in the second round of funding for Luna, and they didn't acquire any UST. Binance Labs backed Terra with $3 million back in 2018 before UST was even a thing. He also clarified that “the last few days, we tried hard to support the Terra community, I am simply pointing out the potential issues from my understanding” Can Litecoin Reenergize Users With New MimbleWimble Upgrade? (Opinion). MimbleWimble Litecoin update has been the cryptocurrency’s most hotly anticipated upgrade. MWEB removes unnecessary transaction data from the blocks through compression. It also reduces the block size for greater speed and scalability. The locked-in and propagating LTC upgrade is more good news this month for the crypto. Gucci announced in early May that it will be accepting Litecoin for payment later this month. Polkadex Locks in Polkadot Parachain Slot by Allocating Nearly 1 Million DOT. Polkadex secured one of the coveted slots on Polkadot Parachain Auction for nearly two years. The team will lock in their spot on the network on the 4th of June. The bid was placed using Polkadots' crowdloan feature, garnering funds from over 6,000 contributors. PolkadeX has already partnered with big-league names like Equilibrium, Kraken, and KuCoin on the way. Polkadex supporters will receive at least 2 PDEX tokens for every DOT they contributed. The top 1000 participants will also get exclusive utility-based NFTs that will guarantee discounted trading fees for holders. Polkadot's next parachain auction will start on the 12th of May.

K4 Rally: A Game That Allows You to Race Other Cars on the Blockchain. K4 Rally is bringing a high-quality graphic web browser game with many features for the community. It is a combination of three critical aspects of blockchain. The first component is the NFTs which players can level up, purchase, sell, and trade to earn crypto. Every car, its parts, and certain in-game items will be tradable ERC-721 tokens. The gameplay begins with players driving cars on various rally-stage tracks in different modes. The player levels up the car with consumables, and a significant level-up happens after every ten levels. Players also get to participate in competitive driving tournaments where the duration of driving a car will be compared to other players. K4 Rally's community-first game economy offers a new notion for other gaming projects. The game’s motive is to create a fun racing game and provide short and long-term motivation to players. El Salvador Invites Over 40 Central Banks for International Event on Bitcoin. El Salvador will host an international bitcoin event on Monday where 44 central banks and key financial institutions have been invited. The event will discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in El Salvador. IMF urged El Salvador to remove bitcoin as a legal tender in January this year, citing it as a threat to market integrity, financial stability, and consumer protection. A US bill cleared by a Senate Committee in February has sought relevant departments to study the adoption of bitcoin by El Salvador and report to Congress on how it affects US interests abroad. El Salvador hosting an international conference on bitcoin adoption and other related topics. El Salvador bought the dip and added 500 BTC to the government coffers, taking the total number of BTC holding to 2,301, worth about $71 million. Portugal to Begin Taxing Cryptocurrencies, says Finance Minister. Portugal has committed to creating a fiscal framework for cryptocurrencies. The government will examine relevant frameworks already created in other jurisdictions when building its own. The biggest difficulty in creating this framework is to properly define cryptocurrencies. Portugal’s crypto industry is seeing steady growth and adoption. Last month, the central bank gave its very first approval to a financial institution to begin offering crypto-related services. A Portuguese home was purchased using Bitcoin, without involving conversion to fiat money.