PRICE CHANGE WTD/YTD

- BTC ($5,166): -2% / +38%
- ETH ($154): -8% / +15%
- LTC ($68): -11% / +123%
- XRP ($0.30): -7% / -15%
- Crypto Market Cap ($172B): -3% / +36%
- BTC dominance: 55%

THIS WEEK IN CRYPTO

- The New York attorney general dropped a legal filing alleging Bitfinex, one of the world's largest crypto exchanges, took out $700 million in loans from Tether - a company Bitfinex owns - to cover up $850 million in lost funds. The filing alleges that those funds had gone to a Panamanian payment processor known as Crypto Capital, who said the money had been seized by various government authorities. Its unclear why the capital was sent to Crypto Capital in the first place. The $850 million of 'lost' funds included both customer and corporate dollars. Link. 

- ETrade is reportedly adding cryptocurrency trading to its platform, starting with bitcoin and ethereum. ETrade would be one of the largest securities brokerages to allow crypto trading given its 5 million person retail base. Link. 

- Samsung announced it was developing its own ethereum-based blockchain network and may eventually release a cryptocurrency, Samsung Coin. Samsung's blockchain team has been working on a number of projects over the last year including blockchain support for its flagship cellphone, the Galaxy S10, which has the ability to store private keys and supports blockchain-based digital signatures. Link. 

- Coinbase announced it was closing its Chicago office just a year after it was opened, and laying off around 30 software engineers in the process. The group had been tasked with building a special "matching engine" product for high-frequency trading, which was no longer a priority. Instead the company is focusing on other new products such as custody services and over-the-counter trading, both of which launched in the last year. Link. 

- Yelp now lets you search for and sort merchants according to whether they accept cryptocurrency. Link.

- Blockchain compliance startup Chainalysis has added four more cryptocurrencies to its real-time transaction monitoring tool. The newly supported coins are Binance's native token Binance Coin (BNB) and three stablecoins — Gemini dollar, Tether, and Circle's USD Coin. Chainalysis's AML compliance solution now supports 10 cryptocurrencies. Link. 

- Ethereum founder Vitalik Buterin proposed higher staking rewards for Ethereum 2.0, the cryptocurrency's move to proof of stake. The return for stakers varies based on the amount of ETH staked; with 32 million ETH staked validators would receive a base return of about 3.2% or 1% of total supply. Link. 

- More than 220 banks have signed up for JP Morgan's blockchain powered P2P network dubbed Interbank Information Network (IIN). The network is currently free to use and will help banks verify in real time whether a payment is going to a valid account. The service is expected to go live in Q3. Link. 

- Nike has filed a trademark application for the phrase "Cryptokicks". The application describes providing apps to access to crypto collectibles, crypto art, and application tokens, as well as operating an online marketplace featuring footwear and clothing. Link. 

- Crypto startup MakersPlace, a platform to buy and sell digital art, announced a $2 million seed round led by Uncork Capital.  The company was founded by Pinterest's first employee, Yash Nelapati, and aims to make it easier for creators to establish scarcity for their digital creations. Creators can generate a blockchain fingerprint for each of their artworks that proves who made it and lets it be sold as part of a limited edition. MakersPlace takes a 15% cut of art that is sold. Link. 

- Blockchain company Civic, which uses blockchain tech to protect and authenticate identities, announced a partnership with 12 vending machine companies to verify age and payment for automated beer sales. CEO Vinny Lingham said he expects Civic software to be rolled out in upwards of 1,000 machines by the end of the year. Link.

- Blockchain payments startup Ripple reported a 31 percent increase in sales of XRP over the first three months of the year. Institutional sales of XRP totaled $62 million in Q1 - a 54 percent increase from the previous quarter. Link. 

- Samsung Ventures invested 2.6 million euros into crypto hardware startup Ledger at a valuation of roughly $290 million. The news corresponds with recent senior management changes that have taken place at the company. Ledger most recently raised a $75 million Series B in 2018. Link. 

- SoftBank founder Masayoshi Son lost $130 million on bitcoin. Son made a large investment in bitcoin at the recommendation of Pete Briger, co-chairman of Fortress Investment Group, who had first invested in 2013. Son's purchased near the peak of bitcoin's price run in late 2017 and sold his position in early 2018 when the price of bitcoin plummeted. Link. 

- The SEC is hiring a dedicated staff member to provide expertise on cryptocurrency and help shape US policy. The SEC will pay up to $239,000 per year for this role. Link.