The Daily Modern Market Snapshot: Fri 16 May

Majors: BTC 103k; ETH 2.5k; SOL 170

Headlines

- Coinbase announces data exploit and $20M ransom demand: they instead issue $20M reward to help catch exploiters

- HYPE up 7% after touching $27: now a 3x of of the $9 lows, outperforming other majors which are largely flat today

- Infinex announces biggest rewards pool so far for Kaito Yappers, $6M worth of uPatrons: top yapper from stealth season earned $45K

Notable PA

- LAUNCHCOIN retraces 18% to 200M

- Department of Government Efficiency +64% to 40M

- Infinex Patron NFTs up 3% to 2.59 ETH towards $ ATH at $6700

Notable Sales

- OCH RPG game on Abstract Genesis Rings up 20% on the day to 1 ETH floor

- ACK, God Of Shadows - 30 ETH

- CryptoPunk, Cap Forward - 51 ETH

Web 3 Round Up

- SEC is investigating if Coinbase inflated its user metrics before its 2021 IPO

- State of Wisconsin Investment Board sells $321M of BTC, no longer holding BTC

- Brazil's first BTC treasury company Meliuz buys 274.5 BTC: share price has doubled since it made first BTC purchase in March

- MoonPay and Mastercard partner to enable stablecoin payments with new stablecoin-powered virtual Mastercards

- More Movement Labs documents leaked: docs reveal early insiders offered access to up to 10% of its token supply, reported by CoinDesk

More News

- FTX set to distribute more than $5B in second distribution to eligible creditors within 1 to 3 business days from May 30

- Web3 Investment firm Hivemind announce Lightyear: a marketplace to bring liquidity + efficiency to the NFT market

- Frank DeGods wallet allegedly compromised: sells multiples DeGods

Social Crypto

- Novastro announces an additional $30k per month in rewards split between top 10 global and CN yappers each week

- Kaito updates webiste with biggest changes to earn section: divided into categories Yap, Refer, Stake, Trade, Use

- Maplestory NXPC token claim is live for their top 2000 yappers and top 500 voters

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