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Here are the top 5 crypto news for the day!


Let’s dive into the news headlines one by one and see how they’ll be affecting the crypto space as we


know it, in the coming days.


CMBI and Nervos’ Announce The Launch Of $50M Fund Together


Nervos, China’s leading blockchain company, announced today the launch of a $50 million fund with CMB International (CMBI), a wholly-owned subsidiary of China Merchants Bank. The new fund, called InNervation, will make early and growth-stage investments in companies developing user-facing blockchain-based products.


Intuitive Instrument to Allow Ethereum Tokens to Migrate to Cardano 


In accordance with the recent introduction by Input-Output Global PM Fransisco Landino, the intuitive instrument will be allowing Ethereum tokens to go live on Cardano smart contracts. The new instrument will be making the tokens more portable and are going to allow the ERC-20 tokens to leave the proof-of-work (PoW) of Ethereum conveniently.


Institutions are Prohibited from Conducting Crypto Transactions in China


Colin Wu announced in a tweet that three major Chinese organizations affiliated with the People’s Bank of China (the PBOC) have strongly advised Chinese institutions to prohibit cryptocurrency transactions in their business operations. The National Internet Finance Association of China (NIFA), the China Banking Association (CBA), and the China Payment and Settlement Association all issued mandatory recommendations.


SHIB Token, the Potential Dogecoin Killer, Listed on WazirX


WazirX became one of the first exchanges to list SHIB (Shiba Inu) tokens for trading in Indian rupees. Since the project’s decentralized exchange, ShibaSwap, is yet to launch, the only options are third-party exchanges such as Binance and Kucoin.


MicroStrategy Makes Another Significant Bitcoin Purchase


MicroStrategy has made another significant Bitcoin purchase worth $10 million at a monetary value of $43.663 per coin. As of 18th May 2021, they hold about 92,079 bitcoins acquired for almost $2.251 billion at an average price of approximately $24,450 per bitcoin.