21 May

“Ethereum core developer Preston Van Loon told a panel at the Permissionless conference today that there’s momentum behind finalizing the move in the next three months. Ethereum Foundation Justin Drake, also on the panel, noted there’s a ‘strong desire to make this happen before [the] difficulty bomb in August.

If everything goes to plan, August—it just makes sense.”

See Also: Binance Adds Support for Layer-2 Ethereum Scaling Solution Optimism

“OpenSea has announced the launch of a Web3 marketplace protocol for ‘safely and efficiently buying and selling NFTs.

The marketplace protocol, dubbed Seaport, will give users the option to obtain NFTs by offering assets other than just payment tokens like Ether (ETH). According to the platform, a user ‘can agree to supply a number of ETH / ERC20 / ERC721 / ERC1155 items‘ in exchange for an NFT, implying bartering a combination of tokens as a method of payment.

OpenSea does not control or operate the Seaport protocol — we will be just one, among many, building on top of this shared protocol.”

Investors have largely exited the Terra ecosystem – now evident in DeFi protocols on the blockchain – and analysts remain skeptical about its long-term prospects.

Data from trackers show funds held in decentralized finance (DeFi) applications built on Terra have slumped to $155 million in locked value as of Friday morning. Locked value on Terra DeFi peaked at $30 billion in early April.

Experiencing significant losses, or seeing others take significant losses – at no fault of their own – is probably one of the fastest ways for a protocol or blockchain in this space to lose the trust of the community.”

See Also: Terra’s amended revival plan would decrease the allocation for post-attack UST holders
See Also: Could Terra’s Do Kwon Go to Prison?

“The CEO of crypto lending and staking platform Celsius Alex Mashinsky believes “the Sharks of Wall Street” can smell blood in the water and are causing instability at several crypto projects.

Mashinsky attributes recent Celsius (CEL) price falls, the brief Tether (USDT) depegging and collapse of Terra (LUNA) — at least in part — to short sellers on Wall Street. CEL has fallen from its all-time high of $8.05 to $0.82, which is a 90% drop.

This is not a coincidence. This is somebody who decided, ‘You know what? I’m going to take down all of Celsius. They took down Luna. They tried Tether, Maker and many other companies. It’s not just us. I don’t think they have a specific hate or focus on Celsius. They are all looking for any weakness to short and destroy.

The point is that the Sharks of Wall Street are now swimming in crypto waters.”

See Also: Amid crypto carnage, Goldman and Barclays fill their bags
See Also: Coinbase Co-Founder Fred Ehrsam Buys the Dip, Purchases $75M of Company Stock
See Also: 20% drop in the S&P 500 puts stocks in a bear market, Bitcoin and altcoins follow

“The annual meeting of the World Economic Forum (WEF) is scheduled to take place from May 22–26, marking the first in-person WEF global leadership event since the pandemic began. At the Davos blockchain event, individuals will be able to gather, learn, discuss and demonstrate how blockchain is a crucial driver of the Fourth Industrial Revolution.

Blockchain and digitization and their subsequent impact on various global sectors will be featured topics during the annual meeting, with discussions ranging from the emerging role of the decentralized finance market to how blockchain can be applied to eradicating world poverty.

Crypto industry leaders like Sam Bankman-Fried will present the environmental sustainability goals of Bitcoin to world leaders. The role of decentralized finance in the future of governance will be another key event to watch out for. The session will see discussions around the need for centralization in the decision-making process and whether DeFi protocols can do without regulation.”