1、The probability of the Fed raising rates by 50 basis points by June is 96.8% and tapering is on

U.S. Treasury Secretary Yellen will meet with Federal Reserve Chairman Powell to discuss inflation issues. According to CME: the probability of the Fed raising rates by 50 basis points by June is 96.8%, and the cumulative probability of a 100 basis point hike by July is 94.2%.

In addition, the Federal Reserve officially launched the second tapering in a decade. The initial monthly maximum combined reduction of $47.5 billion, including $30 billion in U.S. debt and $17.5 billion in agency mortgage-backed securities (MBS).

2、$OP launch, network congestion, exchange top-ups jammed

$OP has been shouted by some KOLs as high as $10 or even $20 before it was circulated, but currently it has been hovering around $1-$2. Scientists jumped the gun; lack of preparation for the access pressure; and failed expectations of the legendary "official liquidity pool" are the three reasons why it did not meet expectations.

However, vitalik has repeatedly praised Optimism's governance framework, and there has been recent discussion in the community forums about the possibility of converting OP from a governance token to a network fee token.

3、Solana down again link

Solana's block production was interrupted for about 4 hours and 10 minutes today. Solana Labs @aeyakovenko said the issue was due to Durable nonce instruction caused part of the network to consider the block is invalid; Fix for durable nonces will be out asap.

4、The Graph Foundation Awards Messari $12.5mm in First-Ever Core Subgraph Developer Grant link

The Graph, one of the top projects venturing into Web3, has announced offering a $12.5M developer grant to Messari.

The grant will support Messari in its efforts within the cryptocurrency sector. The company has shown great commitment to venturing into the buzzing Web3 sector and launching innovative offerings that will allow it to achieve its mission.

5、Former Employee Of NFT Marketplace Charged In First Ever Digital Asset Insider Trading Scheme link

The United States Attorney announced today the unsealing of an Indictment charging NATHANIEL CHASTAIN, a former product manager at OpenSea, with wire fraud and money laundering in connection with a scheme to commit insider trading in NFT.

6、New York Senate Passes Bitcoin Mining Moratorium link

The New York State Senate passed a bill targeting proof-of-work (PoW) mining early Friday morning in an effort to address some of the environmental concerns seen around cryptocurrencies.

The bill, which was passed by the state Assembly last month, would impose a two-year moratorium on any new PoW mining projects powered by carbon-based fuel in the Empire State, though existing mining firms or ones currently undergoing the permit renewal process would be allowed to continue operations. The Senate voted 36-27 in favor of the bill.

7、Binance Labs loses top two executives link

Binance Labs, the venture capital and incubation arm of crypto exchange Binance, has lost two top executives in recent weeks.

Bill Qian, the head of Binance Labs, is set to leave the firm soon, several people familiar with the matter told The Block. Nicole Zhang, the firm’s executive director, left last month, according to her LinkedIn profile.

8、Tech experts urge Washington to resist crypto industry’s influence link

Twenty-six leading computer scientists and academics, including a Harvard lecturer, former Microsoft engineer and chief engineer of Google Cloud, have signed a letter to U.S. lawmakers that harshly criticizes crypto investments and blockchain technology, urging lawmakers to resist pressure from financiers, lobbyists and proponents of the digital asset industry, the FT reports. The signatories say crypto assets have been vehicles for unsound and highly volatile speculative investment schemes, and that crypto and blockchain technology have no real use.

9、Speech by Mr Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies, at the Asia Tech X Singapore Summit on 31 May 2022, about Web3, Are these boon or bane link

10、Arthur Hayes: The rate hike will get more dramatic in the third quarter, and the bottom line is expected to be updated with bitcoin at $25,000 to $27,000. Ethereum is $1700 to $1800 link

Fundraising

• SmartChain Defi announces a $16 million Series A round led by BINANCE LABS. link

• Esports powerhouse Galaxy Racer invests $25M to partner with Quint. link

• Google backs India's ShareChat in $300 mln funding round at $5 bln valuation. link

• Dework Just Raised $5 Million. link

• Binance Labs Closes $500M Investment Fund to Boost Blockchain, Web3, and Value-Building Technologies. link

• Blockchain Infrastructure Provider InfStones Nabs $66M in Extended Funding Round link

Learn more, check out DoveMetrics.

Insights

• The Depegging of UST link

• VC Monthly Report：$4.219 billion in May link

• Valuing Ethereum into the Merge link

• The Risks of LSD link

• LooksRare V.S. X2Y2: Who Will Unseat the Monopoly by Issuing Token? link

• Getting a piece of the token upside link

Optimism Summary

• OlimpioCrypto Thread link

• Optimism government and valuation link

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