Key crypto market events (May 22 - 29)

Also, a weekend review: cyberattack on Tornado Cash, BTC turns into stablecoin, WordPress-based blogs and stores accepting payments in crypto, and more.

Hey, pals! This is the buidlbee crypto community team. And today we will analyze the important events of the weekend as well as give you some interesting ideas for the current week. So, let’s go! Here are the highlights:

  • Crypto market overview;

  • A list of important cryptocurrency events for May 22-29;

  • New tokens and tokens unlock;

  • Tokens launchpads;

  • Airdrops and freebies.

Let's start with the big news:

  • The KeePass password manager recently fixed a vulnerability that allowed the master password to be obtained. Users using this software should pttention to the risks associated with assets.

  • The Hotbit exchange announced the suspension of operations. Users need to withdraw the remaining assets by June 21.

  • As of May 29, 2023, existing BitMEX users residing in Hong Kong will not be able to access services provided by HDR Global Trading Limited through the existing BitMEX website or API connections.

  • The Securities Commission of Malaysia took action against Huobi Global Limited for operating without registration. The site was shut down, and the mobile app was removed from the Apple Store, Google Play, etc.

  • EXBI has announced the launch of a launchpad to support Web3 products, in honor of which it has launched a promotional campaign on Gleam. It will last for two weeks.

📰 Weekly results: Fed statement, BTC turns into stablecoin, and Al Qaeda token attacked

In this brief digest, we briefly recap the important events in the crypto world that have occurred in recent days, including this weekend.

🎬 U.S. government activism

At the end of last week, a number of senior U.S. officials made a number of important statements. Here are the highlights:

  • The head of the Fed allowed for an end to interest rate hikes soon. However, uncertainty remains, as at the moment the inflation rate is much higher than the Fed's target. Another final rate hike is likely to follow.

  • The futures and swaps markets have already started to actively lay down a Fed rate cut this year, expressing cautious optimism.

  • The U.S. Treasury Department said that more bank mergers would be needed to stabilize the U.S. banking system. This actually confirmed that the bankruptcy of regional banks will continue.

  • Negotiations on the U.S. national debt were deadlocked. At the same time, the White House made a rather unexpected prediction that the stock market would crash by more than 45% if the U.S. defaulted on its debts.

The debt ceiling and the danger of default will be the main topics this week.

⚠ An unexpected attack against al Qaeda members

Last week, the U.S. Treasury Department compared all TORN token holders from Tornado Cash to members of Al Qaeda.

The very next day, an anonymous hacker attacked the Tornado Cash protocol and succeeded in embezzling about 483,000 TORNs; the attacker had already managed to sell most of them (385,300 TORNs).

Importantly, the fraudster appropriated 1,200,000 votes and seized control of the protocol. A number of exchanges, in particular Binance, temporarily stopped accepting TORN deposits. What the U.S. government could not do all this time was successfully done by an anonymous hacker.

📊 BTC turns into stablecoin and other unusual charts

Throughout May, the volatility on the BTC market is close to 0! A very unusual chart for Bitcoin:

Over the weekend, large NFT holders sold a total of 349 MAYC (over $6.1 million) and 400 Doodles (over $1.7 million). The total market capitalization of NFT firsts fell below $1 billion:

The ratio of DEX volume to CEX volume is at an all-time high, indicating that traders are massively migrating to DEX:

😎 Another small step towards mass adoption?

Thanks to Binance, WordPress-based blogs and online stores will now be able to accept payments in crypto using the Binance Pay WooCommerce plugin! Given the leadership and popularity of WordPress, this plugin can greatly popularize the acceptance of crypto payments online.

⚓ Major crypto events (May 22-29)

May 22

  • U.S. President Joe Biden and Kevin McCarthy, the chief negotiator for the opposition Republicans, will meet again for a debate on the national debt.

  • Hot Wheels NFT launches on Flow.

  • Coin Gabbar Token (CGT) listing on DigiFinex.

  • Axelar's (AX) listing on LBank.

May 23

  • The latest U.S. new home sales data will be announced. Analysts are forecasting 663,000 properties sold in April. If they are lower, it indicates a negative trend in consumer spending and weakness in the housing market.

  • LUKSO’s mainnet launch.

  • Opulous (OPUL) platform launch.

  • Metafluence's (METO) public launch.

  • Didit protocol launch.

May 24

  • The U.S. Federal Reserve releases the minutes of its latest interest rate decision on May 3.

  • Monsterra's (MSTR) listing on P2B.

  • NFTb's Gaming Hub goes live.

  • Dash 2 Trade (D2T) beta release.

May 25

  • The following data will be released: GDP (Q1), Initial Jobless Claims, Pending Home Sales; Fed Balance Sheet.

  • UTRUST (UTK) token update.

  • Aurora demo day.

  • Virtual meetup REDeFiNE Tomorrow 2023. Day 1.

May 26

  • The Bureau of Economic Analysis released the latest core inflation data for April. It is expected to rise by +0.3% month-on-month. If core inflation is higher than expected, the market will take a negative view.

  • Virtual meetup REDeFiNE Tomorrow 2023. Day 2.

May 29

🔓 Tokens unlock

May 27

  • Ronin - 14 571 969,03 RON tokens, or 1,457% of the total supply.

  • Yield Guild Games - 16 872 453 YGG, or 1,687% of the total supply.

May 28

  • Avalanche - 9 541 800 AVAX, or 1,325% of total supply.

🏁 Tokens launchpads

May 22

May 23

May 25

May 26

May 28

  • Health Hero (HLTHY) token sale via TrustPad.

May 29

🆓 Crypto and NFT freebies

May 22

Guys, we hope you find our information helpful! See you tomorrow (with a new portion of a useful staff)! 🤩

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