The Last 168 Hours in DeFi

Short Squeeze and The Merge in Sight

MARKET:

Bitcoin looks to be bullishly breaching the 100 daily moving average, and the Ethereum Merge is happening this week. While we’re all holding our breath, traders are shorting ETH with ferocity to hedge spot positions should anything go wrong. Leverage shorts are paying 306% annualized funding right now! There could be a lot of shorts that close out later this week to push the price up when the Merge succeeds, but many spot positions could sell too. Get your popcorn ready.

NEWS:

Crypto is getting really dirty - Accusations of foul play by Ava Labs legal team

Crypto Leaks @CryptoLeaksInfo

Crypto Leaks, Case #3 now live📢 Ava Labs (Avalanche) attacks Solana & cons SEC in evil conspiracy with bought law firm, Roche Freedman Exposé with video🕵️‍♂️📽️ See on CryptoLeaks.info

cryptoleaks.infoCrypto Leaks | We expose big money corruption and hidden attacks in cryptoCrypto Leaks breaks apart big money corruption and attacks in crypto, and shows you what lies beneath.

A big $80m raise for a Layer 2

Fuel Labs @fuellabs_

Today, we're proud to announce $80M of support led by @blockchaincap and @stratosxyz! Fuel is the fastest Modular Execution Layer delivering the highest flexible throughput with maximum security guarantees for the Ethereum ecosystem.

fuel-labs.ghost.ioFuel Labs Announces $80 Million of Support for the Fastest Modular Execution LayerFuel Labs Announces $80 Million of Support for the Fastest Modular Execution Layer

The Block @TheBlock__

Mysten Labs, creator of the Sui blockchain, closes $300 million raise led by FTX Ventures theblock.co/post/168532/my…

Scaramucci.algo @Scaramucci

FTX Ventures and @SBF_FTX are acquiring a stake in @SkyBridge. Sam & I have gotten to know each other for the last two years and have partnered together on a few things (including @SALTConference & @CryptoBahamas). We couldn't be more excited about this partnership.

NFTs:

Starbucks News @StarbucksNews

Introducing Starbucks Odyssey, a new experience that will offer the ability to earn & buy digital collectibles (NFTs) that will unlock access to new coffee experiences. Join the waitlist to be among the first to explore Odyssey.

stories.starbucks.comStarbucks Brewing Revolutionary Web3 Experience for its Starbucks Rewards MembersNew Starbucks Odyssey experience will offer members the ability to earn and buy digital collectible stamps (NFTs) that will unlock access to new, immersive coffee experiences.

Meta Newsroom @MetaNewsroom

We’re introducing the ability to post digital collectibles across @facebook and @instagram. You can now connect your digital wallet to either app to share your #NFTs on both. What NFT are you excited to share? 👀 about.fb.com/news/2022/05/i…

Limit Break @limitbreak

🚨🚨🚨Limit Break is excited to announce that we have raised TWO HUNDRED MILLION DOLLARS ($200,000,000) over two rounds to build Web 3 MMO games. These rounds were led by @joshbuckley, @paradigm, & @standardcrypto 🥳

Sorare @Sorare

BREAKING: @Sorare x @NBA x @TheNBPA enter a multi-year partnership to launch the first NFT-based fantasy basketball game. 🏀 Sign up now 👉 sorare.com/nba

REGULATORY:

AG Karl A. Racine @AGKarlRacine

NEW: Today, we’re suing Michael Saylor - a billionaire tech executive who has lived in the District for more than a decade but has never paid any DC income taxes - for tax fraud.

db @tier10k

cnbc.comCoinbase bankrolls lawsuit against Treasury Department following Tornado Cash sanctionsCoinbase is bankrolling a lawsuit filed against the Treasury Department Thursday by six users of the recently sanctioned crypto service, Tornado Cash.

POD O’ THE WEEK:

Yano 🟪 @JasonYanowitz

4/ Episode 1 goes live today: "CeFi is Dead, Long Live DeFi" Our guests are @pythianism and @im_manderson from @hiFramework. Listen: sptfy.com/LhDJ Watch: youtu.be/HURlq6rIEEw This episodes tees up the rest of the season.

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