[Link to FM] Robinhood will launch a wallet to compete with Metamask, Terraform Labs legal team has left

【Data Intelligence】

The total transaction volume of NFT market Magic Eden on the Solana chain exceeded 1 billion US dollars

On May 17th, according to data from Dappradar, the total transaction volume of Magic Eden, the NFT market on the Solana chain, has exceeded 1 billion U.S. dollars, up to 1.19 billion U.S. dollars, and the number of traders has reached 636,802. Data shows that in the past 30 days, the transaction volume of Magic Eden has risen sharply to 4,714,908.03 SOL (approximately 260 million US dollars), and the transaction volume has exceeded 1.1 million.

【 Regulatory News 】

Global Financial Regulators to Discuss Cryptocurrencies at G7 Summit

Central bankers and finance ministers from the Group of Seven (G7) nations are planning to discuss the regulation of cryptocurrencies. Bank of France Governor François Villeroy de Galhau said people from the United States, Canada, Japan, Germany, France, Italy and the United Kingdom are likely to speak on issues related to the regulatory framework for cryptocurrencies at conferences in Bonn, Germany, and Königswinter on Wednesday. The recent volatility in the cryptocurrency market is a "wake-up call" for regulators around the world. Speaking at an emerging markets conference in Paris, Villeroy said Europe paved the way for MiCA. We will probably be discussing these issues with many others at the G7 meeting in Germany this week. If cryptoassets are not regulated, supervised and interoperable in a consistent and appropriate manner across jurisdictions, they could disrupt the international financial system. According to the G7 website, finance ministers and central bank governors will meet in Germany from May 18-20 to discuss policies related to members' recovery and financial stability due to the COVID-19 pandemic. and the commercial policy of the International Monetary Fund. The group issued guidelines for a possible central bank digital currency in 2021, and reportedly warned that certain stablecoins could threaten the global financial system in 2019.

South Korea May Propose Bill to Punish Cryptocurrency Manipulators

South Korea may introduce a bill to punish those who make unfair profits from cryptocurrency trading through pumping up prices, insider trading or fake orders. South Korea’s Financial Services Commission (FSC) prepared the study after the South Korean parliament asked for a study on cryptocurrency regulation. The regulations proposed by the FSC will be stricter than capital market regulations. According to the proposal, civil and administrative penalties such as fines and liability for compensation will be imposed on those who obtain benefits improperly, as well as criminal penalties such as imprisonment. It is reported that the South Korean parliament and government will discuss details during the legislative process.

【Industry Trends】

Terraform Labs legal team has left

On May 18, according to The Block, the Terraform Labs legal team, including General Counsel Marc Goldich, Chief Corporate Counsel Lawrence Florio, and Chief Litigation and Regulatory Counsel Noah Axler, all left shortly after the LUNA incident. Business is handled by outside counsel.

Hardware wallet Ledger launches browser extension Ledger Connect

Hardware wallet Ledger has launched a browser extension called Ledger Connect, which will allow users of Ledger hardware wallets to easily connect to Web3 applications without relying on third parties. Ledger Connect also has a security layer that alerts users when certain apps behave suspiciously. Ledger Connect supports Ethereum and Solana at the time of release, and will gradually be compatible with other protocols after release.

Nansen Acquires Ape Board for Over $10M

Nansen has acquired the DeFi portfolio dashboard Ape Board. The specific acquisition price was not disclosed, but it is said to exceed $10 million. Ape Board’s multi-chain coverage will provide traders with a holistic view of the market without requiring them to use multiple platforms to track their investments and analyze the market, the companies said. Nansen plans to combine its analytics with Ape Board's portfolio tracking to create an "all-in-one super app."

Crypto.com Pay Now Available to All Shopify Merchants

Crypto.com, the crypto trading platform, has announced that its payment product, Crypto.com Pay, is now available to all Shopify merchants. Shopify merchants from around the world can now integrate their payment solutions and benefit from reaching more customers by expanding the use of crypto payments. Crypto.com Pay customers will be able to pay with 20 cryptocurrencies including BTC, ETH and DOGE at the online store.

Gitcoin to Deploy to Fantom Mainnet and Postpone Grants Program

On May 17, the Fantom Foundation posted on social media that Gitcoin will be deployed on the Fantom mainnet. To ensure that all members of the Fantom ecosystem can participate, the grant program will be postponed during the completion of Gitcoin integration.

【Elite Viewpoint】

Bank of England Deputy Governor Cunliffe: We don't think cryptocurrencies are systemic risk

On May 17, Cunliffe, deputy governor of the Bank of England, said that he is paying close attention to cryptocurrencies; cryptocurrencies are now regarded as a risky asset; we do not think that cryptocurrencies have systemic risks; but you can never be sure what will Causes a loss of confidence; With the start of quantitative tightening, we will see investors withdraw from risky assets; Many retail investors do not understand cryptocurrencies.

JPMorgan Chase CEO Dimon: Continue to work with regulators to formulate clear cryptocurrency rules

According to news on May 17, JPMorgan Chase (JPM.N) CEO Dimon said that he will continue to cooperate with regulators to formulate clear cryptocurrency rules.

【What to watch today】

Robinhood to Launch Wallet to Compete with Metamask

Robinhood announced the launch of a new wallet app that allows customers to access NFT marketplaces, DeFi, decentralized exchanges and swap tokens. Its functionality is similar to other non-custodial wallets such as MetaMask. Robinhood hopes the sleek and intuitive design of its new app will make interacting with web3 less of a hassle for novices. The company plans to fully roll out the product to its entire user base by the end of this year.

Scan the code to follow the link to finance

All the latest information