Crypto News on May 18: Terra’s Legal Team Resigned, Robinhood to Launch Non-Custodial Crypto Wallet 

The Terra thriller continues with news breaking that its legal team quit shortly after the collapse of LUNA. Do Kwon’s hard fork proposal is currently on the ballot.

 

The Legal Team of Terra Resigned After the Crash of UST 

Terra continues to dominate headlines. Today, reports confirmed that its legal team quit after the collapse of UST. That sparked speculation about legal liability of Terra for the collapse of LUNA and UST and first reports suggest Do Kwon could be sued and summoned to a parliamentary hearing over his involvement in the crash. Voting on his proposal is still underway and those in favor of a hard fork are currently in the lead.

 

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Cloudflare to Launch Its Own Ethereum Validator Nodes 

Cybersecurity firm Cloudflare announced the launch of Ethereum validator nodes as part of Ethereum’s switch to proof-of-stake. The company is committed to support the Ethereum network throughout its upcoming “Merge,” although it did not specify a launch date for its nodes. Cloudflare is already involved in the blockchain space through a gateway to the InterPlanetary File System (IPFS).

 

Robinhood Announced a Non-Custodial Crypto Wallet 

Trading app Robinhood is taking another step into the crypto game and announced a non-custodial crypto wallet to come out in 2022. The company said the wallet would follow its no-fee model and allow all standard functionality known from wallets like MetaMask and Coinbase. The announcement comes just a week after Sam Bankman-Fried acquired a 7.6% stake in the company.

 

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Nayib Bukele Works on Bitcoin Adoption 

El Salvador’s Nayib Bukele is hosting the annual conference of the Alliance for Financial Inclusion and and is using the opportunity to promote bitcoin adoption – at least on social media. El Salvador hosts 44 countries at the meeting focused on financial inclusion, but Bukele made sure to please his followers on Twitter by citing the country’s Bitcoin adoption.