According to a report on stablecoins released on May 7, Deutsche Bank analyzed 334 currencies linked to stablecoins and found that 49% of stablecoins had failed during their median lifespan of about eight to ten years. The analysts concluded that most anchored assets in the cryptocurrency field will experience significant "turbulence" caused by speculative sentiment and ultimately suffer some form of decoupling event. Deutsche Bank analysts also pointed out that Tether's reserve transparency was lacking and described the company's solvency as "doubtful".

MakerDAO stated on X platform that the supply of DAI increased from $4.4 billion to $5.4 billion within 60 days. In addition to the growth in supply, DAI set a new record in April with on-chain transaction volume reaching $636.72 billion. The Dai Savings Rate (DSR) also showed positive momentum, steadily increasing over the past few months with total deposits exceeding $2 billion last week.

Ripple Labs and the US SEC have made new progress in their legal battle, with the SEC submitting its final reply in the remedies phase of the lawsuit. In response to the recent brief on remedies, the SEC questioned Ripple's claim that the blockchain startup's behavior was not reckless, despite the court previously rejecting this "fair notice" defense, but Ripple's legal status should not have "broad uncertainty". The SEC also questioned whether Ripple might maintain its original position in the future, although Ripple has not violated any rules since the XRP lawsuit was launched in 2020. According to the remedy brief, Ripple attempted to downplay its responsibility while emphasizing its cooperation with the SEC since the XRP ICO in 2013. However, the SEC emphasized that under the law, even if Ripple has not engaged in any violations since 2020, the next violation is still expected to be possible. (Cointelegraph)

Jack Dorsey's financial technology company, Block (formerly known as Square), announced on May 6th that it plans to issue $1.5 billion in preferred notes to qualified institutional investors through private placement.

LayerZero Labs announced that it has been working with Chaos Labs and Nansen to compile a witch detection report. They will consider the total weighted transactions of each user in all LayerZero applications to ensure consistency between TGE, developers, and long-term users. The report will be released after the deadline for self-reporting witches.

Germany's state-owned development bank Kredittanstalt fuer Wiederaufbau (KfW) plans to issue a blockchain digital bond with a minimum size of 100 million euros. Insiders revealed that the bond is expected to mature on December 31, 2025. KfW is reportedly in discussions with European institutional investors during the preparation phase over the next few weeks to allow investors time to become familiar with the transaction. The transaction is expected to be completed in the summer.

1. Starbucks terminates its Odyssey NFT program

DappRadar data shows that the total transaction volume of NFT aggregation platform Blur has exceeded 9.5 billion US dollars, reaching 9.51 billion US dollars at the time of writing. The current total number of traders on the platform is about 381,910. Historical data shows that the transaction volume of the Blur platform exceeded 8 billion US dollars in mid-January this year and exceeded 9 billion US dollars in early March, which means that this indicator has increased by more than 5% in less than a month.

According to on-chain analyst Yu Jin, BLUR's January unlock has been transferred to Coinbase Prime one hour ago: 33.41 million BLUR ($22.49 million) was unlocked and transferred from the unlock contract to the 0x0A0 multi-signature address 35 hours ago, and then transferred to Coinbase Prime through the 0x0A0 multi-signature address one hour ago. Since the unlocking cycle of BLUR began on June 15, 2023, a total of 20% (616.8 million) of the total BLUR has been unlocked and transferred to Coinbase Prime.

DappRadar data shows that the total transaction volume of NFT aggregation platform Blur has exceeded 9 billion US dollars, reaching 9.19 billion US dollars at the time of writing this article. The total number of traders on the platform is currently about 376,400. Historical data shows that in mid-January of this year, the transaction volume of Blur platform exceeded 8 billion US dollars, which means that this indicator has increased by more than 12.5% in less than two months. In other NFT markets, the total transaction volume of OpenSea NFT market is about 36.55 billion US dollars, and the total number of traders is about 5.2 million; the total transaction volume of LooksRare is 4.86 billion US dollars, and the total number of traders is more than 156,000.