PRICE CHANGE: WTD/YTD

- BTC ($30,177): +1% / -36%
- ETH ($1,875):  -7% / -50%
- XRP ($0.40): -4% / -53%
- UNI ($5.18): -4% / -70%
- Crypto Market Cap ($1.3T): -2% / -43%
- BTC Dominance: 46%
- ETH Dominance: 18% 

STABLECOIN MARKET CAP CHANGE: WTD/YTD

- Tether ($72B): -1% / -8%
- USDC ($54B): +1% / +27%

NFT 3M TRADING VOLUMES

THIS WEEK IN CRYPTO

- The Beacon Chain, the proof-of-stake Ethereum chain running in parallel to the current proof-of-work chain, experienced a 7-block reorganization event on Wednesday. The term reorg refers to block confirmations diverging, often resulting in a forked network. In this case it appears the reorg was due to certain upgrades not being fully rolled out to the entire network. Ethereum fell this week as investors speculated that the Beacon Chain reorg would likely delay the merge of Beacon Chain with Ethereum mainnet, which is currently expected to occur in August. A post-mortem with more details is expected soon. Link. Link. 

- Coinbase becomes the first crypto company to make the Fortune 500 list, an annual list of America's largest corporations by revenue. Coinbase ranked 437. Link. 

- Decentralized exchange Uniswap passed $1 trillion in lifetime trading volume. Uniswap has 70% market share on Ethereum and has been used by more than 83% of DeFi users. Link. Link. 

- Do Kwon's latest plan to revive the Terra Ecosystem and its stablecoin UST was passed and approved by the community. Luna 2.0 will include an airdrop to community members who never sold their old LUNA tokens or UST stablecoins during the ecosystem's crash. Link. Luna2 fell over 70% just a few hours after its debut. Link. CoinGecko. 

- Tether launches its USDT stablecoin on Polygon. Link. 

- Slower slot times have caused the Solana blockchain clock to drift significantly. On-chain time has fallen half an hour behind real-world time. Though the issue doesn't effect network operations, it could contribute to reduced earnings from staking rewards. Link. 

- Adam Neumann, founder of WeWork, has co-founded a blockchain-based carbon credits market called Flowcarbon and raised $70 million from Andreessen Horowitz. Flowcarbon helps projects sell tokenized carbon credits to companies looking to reduce their carbon footprint; those credits can be traded on crypto exchanges. Goddess nature token (GNT) is backed by carbon credits issued over the last five years from nature-based projects and will trade on Celo. Link. Link. 

- Solana NFTs generated more money than Ethereum NFTs during a brief 24-hour span this week. Solana NFT secondary market sales generated $24.3 million compared to Ethereum's $24 million. Link. CryptoSlam. 

- Stripe is relaunching its support for Bitcoin, four years after suspending the service. Now customers will be able to convert incoming payments or balances into bitcoin using Lightning Network and an app created in partnership with OpenNode. Link. 

- The NFL is launching its own play-to-earn game in partnership with Mythical Games. NFL Rivals will be released in early 2023. Link. 

- STEPN, the app that allows users to earn tokens based on NFT sneakers owned and physical activity, will block the app in China starting July 15th. Link. Link. 

- Andreessen Horowitz raised $4.5 billion for its fourth cryptocurrency fund, the largest vehicle ever raised for the space. $1.5 billion will be committed to seed investments. Link. Link. 

- A Netflix animated series called Love, Death + Robots has embedded QR codes for minting NFTs throughout its social media accounts as well as the show's episodes. There are currently almost 29,000 unique NFT owners for the 9 NFTs. Link. OpenSea. 

- Crypto tax startup ZenLedger raised $15 million in Series B funding led by ParaFi Capital. Link. 

- The Central Bank of Russia will pilot its digital ruble with real users and transactions beginning April 2023, much sooner than the 2024 date originally planned. Link. 

- Ethereum scaling solution StarkWare raised $100 million in Series D funding at an $8 billion valuation, in a round led by Greenoaks and Coatue. Link. 

- Magic Johnson is releasing his first NFTs in partnership with NBA Top Shot. On June 7 fans will be able to purchase 1,600 NFT packs that include highlights from Johnson's career, for $399 per pack. Link. 

- Sam Bankman-Fried, founder and CEO of FTX, said he would donate north of $100 million to the 2024 US presidential campaign. Link. He also suggested that the $2 billion raised by the company and its US entity could be used for acquisitions. Link. 

- RTFKT, Nike's Web3 arm, purchased the domain dotswoosh.eth for 19.72 ETH, roughly $35,000. RTFKT now owns 10 ENS domains. Link. 

- Fidelity's bitcoin index fund has over $125 million in investments. Link. 

- Crypto lending platform BlockFi slashed its interest rates by half for Solana, Avalanche, and Polygon. On June 1 interest rates will fall to 5% from 10-11%. Link. 

- LayerZero Labs is reportedly raising additional funding at a valuation of $3 billion. LayerZero protocol is an omnichain protocol designed to deliver interoperability between blockchains. Link. 

- The CryptoPunks floor price fell below 50 ETH (<$100,000). The price was down 50% from last month. Link.