Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.46T): 0% / +2%
- BTC ($105,377): +1% / +13%
- ETH ($2,536): +1% / -24%
- SOL ($174): +1% / -8%
- UNI ($6.16): -11% / -53%
- OP ($0.73): -17% / -58%
- Tether Mkt Cap ($151B): +1% / +9%
- USDC Mkt Cap ($61B): 0% / +39%
- BTC / ETH Dominance: 60% / 9%

THIS WEEK IN CRYPTO
- Coinbase will replace Discover Financial Services in the S&P 500 starting May 19th, making it the first crypto company to join the index. Link. Link. 

- Criminals bribed overseas Coinbase customer support agents to share sensitive information on 1% of Coinbase monthly transacting customers, including addresses, government IDs, and account balances. The hackers tried extorting Coinbase for $20 million, but Coinbase refused to pay and placed a $20 million bounty on information leading to the criminals involved. Link. 

- Many of the 220 largest holders of $TRUMP who are invited to attend an exclusive dinner with President Trump are reportedly foreign nationals, including crypto billionaires like Justin Sun. Link. Link.

- SEC Chairman Paul Atkins said the agency may need to repeal and replace a special framework that allowed broker dealers to act as custodians for digital assets. Only two firms were able to obtain the “special-purpose broker dealer” authorization, due to the significant limitations of the program. Link. 

- Robinhood is acquiring Canadian crypto platform WonderFi Technologies for $179 million in cash. Link. Link. 

- FTX is preparing to distribute another $5 billion to company creditors, its second payment of the year. Link. 

- Stablecoin legislation is being revived with bipartisan support after adding tightened restrictions on money laundering, foreign issuers, and technology companies. The bill would prohibit technology companies and exchanges from paying interest to stablecoin holders, and makes it explicit that stablecoins are not FDIC insured. Link. 

- The DOJ will continue prosecuting Tornado Cash co-founder Roman Storm on charges of money laundering, sanctions evasion, and transmitting criminal funds, despite a recent agency memo suggesting a shift away from targeting crypto mixers. The agency dropped charges of operating an unlicensed money transmitter. Link.

- Yuga Labs sold the CryptoPunks IP to the Infinite Node Foundation, a nonprofit focused on preserving digital art that was founded by Ribbit Capital’s Micky Malka. Link. 

- Digital assets platforms Galaxy Digital is talking to the SEC about tokenizing its stock as well as other equities using its digital-asset platform. Link. 

- Crypto trader influencer Cobie joined crypto investment firm Paradigm as an advisor. Link. 

- Abu Dhabi sovereign wealth fund Mubadala purchased almost $30 million worth of shares in BlackRock’s Bitcoin ETF during Q1. Link. 

- Ethereum stablecoin volumes reached an all-time high in April of $908 billion, with USDC making up over $500 billion of volumes. Link. 

- Over 11,000 smart accounts have been created using EIP-7702 since Ethereum’s Pectra upgrade last week. Link.