GM Mexico or BD Mexico?

Good morning. Today in the CT5 we've got LUNA making moves for a comeback, Tim Cook diving into crypto payments, JPM running collateral settlements on their private blockchain, and more! Happy Friday and hope everyone enjoys their Memorial Day weekend!

Market Update (as of 8:56am ET):

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Top 5:

1. New Terra blockchain expected to launch on Saturday, Luna airdrop to follow. The new Terra blockchain will go live in the early hours of Saturday morning, with an airdrop of new LUNA tokens going to existing holders of LUNA and the UST "stablecoin". These holders will receive the new LUNA tokens in a vested manner based on previous holdings. As an example, wallets with more than 1 million LUNA or UST prior to UST’s depegging from the U.S. dollar would have to wait more than a year before receiving any tokens, with a four-year vesting period thereafter. In addition to the planned airdrop, another governance proposal was passed to burn 1.388 billion UST, a move which will reduce the supply by 11%.

2. Apple is looking to strike deals with ‘alternative payments’ providers. According to a job posting, the company is looking for a lead negotiator to the establish relationships with 'alternative payments' providers and an ideal candidate would have experience with digital wallets and cryptocurrency. It's unclear what Apple's long-term strategy is as it relates to crypto, but it appears the tech giant is ready to get serious.

3. Tether enters Latin America with Mexican peso-pegged stablecoin. On Thursday, the stablecoin behemoth added MXNT to their lineup, which currently includes three other stablecoins: USDT (U.S. dollar), EURT (euro) and CNHT (China’s yuan). Paolo Ardoino, Tether's CTO, pointed to the growth of crypto users in Latin America and specifically to the multibillion-dollar flow of remittances into Mexico as drivers of Tether's new offering. Tether isn't the only company to invest in the Mexican market. Earlier this year, Coinbase launched a cash-out service that allows users to cash out of crypto and into pesos.

4. JPMorgan trials blockchain for collateral settlement in after-hours trading. The Wall Street firm is reportedly in the trial testing stage of using their own private blockchain for collateral settlements. According to Bloomberg, a pilot transaction was conducted late last week that saw two JPM entities transfer tokenized money market fund shares from BlackRock. In this case, BlackRock was not a counterparty in the transaction, but has been very involved in the initiative "since day one". From Ben Challice, JPM's Global Head of Trading Services:

What we’ve achieved is the friction-less transfer of collateral assets on an instantaneous basis.

5. Sam Bankman-Fried gets chirpy during a CFTC hearing. Have a great Memorial Day weekend!

Updates and other stories:
- Stepn to bar gameplay in China, 'move-to-earn' token GMT spirals...Read More
- DeFi’s PoolTogether crowdfunds legal defense with NFT collection...Read More
- Terra devs need a home, other blockchains are courting them...Read More

Top Sharers of the Crypto Top 5:
1. Donna Y. - Nashville, TN
2. Jake Y. - Greenville, SC
3. Forrest H. - Evansville, IN

External Resources:
1. Cryptopedia from Gemini - if you see a word, acronym, or phrase in this newsletter that you don't understand, there's a good chance you can find an explanation here
2. Crypto Explainer+ - intro level courses on Bitcoin, Ethereum, decentralized finance, NFTs, and more
3. Crypto Jobs! - looking for a new job? Check out this page from Anthony Pompliano with hundreds, if not thousands of listings

Disclaimer: The information contained in this newsletter shall not be understood or construed as financial advice. I am not an attorney, accountant, or financial advisor, nor am I holding myself out to be, and the information provided is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.