Binance bought 15 million Luna tokens for $3M in 2018. The tokens grew to be worth as much as $1.6B but are now worth just $2,391 as of last week. More: - Binance was an early backer of Terra Labs. In 2018, the company participated as a lead investor in a $32M funding round.
- The company wants to protect users on the platform and requests that retail investors be reimbursed first for the losses during the crash before Binance is.
- Luna was trading at $119 last month but dropped to a fraction of a cent during the crypto sell period last week.
- Although Binance supported Terra Labs during its early days, CEO Changpeng Zhao expressed his disappointment in how the team managed the crash.
- Others, like Ethereum founder Vitalik Buterin and Justin Sun, creator of stablecoin USD, have also offered support behind the idea to refund 100% of funds to 99.6% of wallets that are out of money due to the UST crash.
- Sun said that he would pledge $10M of his own stablecoin tied to the dollar to the poorest crypto wallets that were holding UST.
Fortune 
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Sam Bankman-Fried, CEO of FTX, a crypto exchange, believes that Bitcoin will not succeed as a payments network. He believes that the proof-of-work system cannot keep up with market demand and is harmful to the environment. More: - Climate change advocates and policymakers that promote environmental sustainability practices will not support Bitcoin mining operations because it uses vast amounts of energy.
- Bankman-Fried tweeted that Bitcoin does hold value, but the network in itself cannot sustain millions of transactions per second.
- The other issue is that Bitcoin is unlikely to move away from its proof-of-work system, so its energy consumption will always remain a concern.
- The solution: Bitcoin can be transferred to a Layer 2 solution such as Polygon, which would speed up transactions and increase efficiency.
- Lighting Labs has been using a prominent Layer 2 solution for Bitcoin mining on a separate ledger that can execute hundreds of thousands of transactions per second.
Tech Crunch
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 A message from EQUITYBEE Netflix employees are not feeling chill when it comes to their employee stock options, apparently. According to Protocol, Netflix employees asked the company’s leaders in April to issue them more options grants to offset the stock price drop (almost 70% in the last 6 months). Shares of Netflix declined 35% in one day after the company revealed a drop in subscribers for the first time in a decade. What can startup employees learn from this? - Yes, you can negotiate your options - just like you negotiate any other part of your compensation!
- Keep an eye on the market and understand what financial news means for your workplace, even when the company is private.
- Make sure you have a plan to exercise your options.
Equitybee helps you exercise your options without paying a dime out of pocket, no matter what happens to the stock price after the IPO. Want to hear more
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Microsoft is introducing "cryware" into its cybersecurity lexicon to warn users' crypto wallets of malware. The company intends to help users understand that various crypto-related threats are targeting "hot wallets" and passwords. More: - Cryware is a new term to describe malware that targets crypto wallets.
- The company wrote a blog post on Tuesday describing the new term: "cryware are information stealers that collect and exfiltrate data directly from non-custodial cryptocurrency wallets, also known as hot wallets."
- The cybersecurity community is rolling their eyes, calling this term just unnecessary jargon. One tweet read "Please stop making up new malware classifications. It's confusing enough for many as it is," and another community member wrote, "marketing departments are out of control."
- Microsoft explains that it had to create a new term to describe an emerging category of malware because cryptocurrency is a popular market that peaked at $3T in 2021 and holds unique cybersecurity challenges.
Zdnet
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Robinhood is developing a standalone crypto wallet application compatible with NFTs so that users can store their digital assets, withdraw crypto, and link to NFT marketplaces. More: - The new wallets will be noncustodial and multichain, which will allow users to store their NFTs and link to marketplaces.
- The company wrote in a tweet, "Trade and Swap crypto with no network fees." Prior to this launch, the company had a closed system that prevented users from withdrawing crypto.
- Starting Jan. 21, Robinhood launched a system to allow users to withdraw crypto, but initially, only 1,000 users were able to use this service. By April, more than 2 million were added to the waitlist.
- The new wallet only supports seven crypto assets: Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ether, Ethereum Classic, and Litecoin.
NOTE: Inside.com's founder and CEO, Jason Calacanis, is an investor in Robinhood. Cointelegraph
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 A message from ADOBE MARKETO Now more than ever, customers want highly targeted, personalized content—and they’re ready to bolt if they don’t get it. During the pandemic, more than 75 percent of consumers so far have tried new brands, places, or ways to shop. And yet, while marketers agree that a great digital experience is essential to future growth, many businesses can’t make it work. Only 12 percent of marketers overall are “very” or “extremely” satisfied with the level of personalization in their marketing efforts. And almost half of B2B marketers say their marketing is not fully personalized. Download this eBook to go beyond the basics of marketing automation and learn how to better anticipate and support the individual needs of your prospects and customers in a post-pandemic world. Claim your E-book
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Lightning Network launched an instant bitcoin payments card called the Bolt Card. The card can be used to pay for goods and services almost instantly, eliminating the need to scan QR codes. More: - Users can pay for goods and services using the new contactless payment technology.
- A data analyst from CoinCorner put the payment system to the test during lunchtime on the Isle of Man and successfully paid for 20 breakfasts, lunches, drinks, and snacks.
- Here is how the technology works: For point-of-sale (PoS) showing a lighting receipt, a user has to hover the NFC-enabled bolt card nearby.
- Previously users paid over the LN by scanning QR codes, which are not user-friendly and efficient.
- The analyst explained that the Bolt card felt natural and was easy to use. He wrote: "For me, it is a huge step up in terms of user experience when compared to scanning QR codes."
- The Layer 2 technology built on Bitcoin is an ideal solution for instant Bitcoin payments.
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FreshCut raised $15M in a round led by Galaxy Interactive, Animoca Brands, and Republic Crypto. The platform develops short-form video content and rewards users with crypto. More: - The company was founded by FreshCut CEO James Kuk, formerly Twitch's global head of business development and partnerships.
- The company will use the fresh funds to develop a video content platform that is already live.
- The company launched "watch-and-earn" and "create-and-earn" models that allow users to earn the company's native token, called the FreshCutDiamond token ($FCD).
- The token is based on Polygon and was officially launched last week. The company will integrate a wallet sometime in the summer.
Decrypt
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- Investors have withdrawn $7B from Tether so far as the crypto community questions its role in the market.
- The six signs to look for to determine if a crypto investment is a Ponzi scheme.
- Here is everything you need to know about crypto wallets and how to pick the right one.
- Some believe that the crypto market crashing is the best news for the world.
*This is a sponsored post.
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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