The third week of May has been exciting for the cryptocurrency markets. The biggest news was the Consensus 2018 blockchain conference in New York City. While the three-day conference featured a series of flashy events, highlighting a number of cryptocurrency projects, ICOs, partnerships and many other domains, it ultimately left attendees disappointed.

Here’s the rest of the crypto week in review:

Crypto giant Coinbase, the first stop for most American crypto investors, wants to grow bigger than ever. It is looking not only to become a provider of institutional services but also wants to become a fully licensed exchange and grow its assets under management to rival traditional finance powerhouses like Fidelity and Charles Schwab. Coinbase has a simple goal: to become the best and easiest-to-use regulated exchange, offering safe storage and great customer service. Though there will be tough competition with the likes of Gemini, Kraken, Robinhood, and Square, Coinbase could become a household name.

The Floating Island Project is an ambitious plan to build a new society in the Pacific Ocean. The project is a pilot program in partnership with the French Polynesia government. The $50 million project is funded by Blue Frontiers and the Seasteading Institute, through sales of the Varyon token. Its final vision includes hundreds of island-states with sovereign government, business centers, and houses.

Ran Neu-Ner, an early Bitcoin (BTC) investor, founder of Onchain Capital, and host of CNBC Africa’s “Crypto Trader,” revealed the cryptos he loves and hates. Neu-Ner is neutral on BTC, thinking it will grow but be eclipsed by more exciting cryptos. He is bullish on Bitcoin Cash (BCH) and Ethereum (ETH), pointing at their utility. He also likes Oasis, Zilliqa, and Thunder Token. He does not like the centralized nature of Ripple (XRP) and advises to sell.

Reports indicate that LightSpeed Venture Partners, a venture capital firm that invested in Snap and the Telegram ICO, is planning to create a cryptocurrency investment fund. It aims to invest directly in blockchain projects and ICOs, though the exact strategy has not been finalized.

It seems Iran is catching the crypto wave. Iranian government officials reported that their country’s citizens have spent more than $2.5 billion in crypto. They also confirmed that Iran is currently attempting to create its own state cryptocurrency. As the consequences of US withdrawal from the Iran nuclear deal continue to hurt Iran’s economy, more Iranians will look to crypto for stability.

The US Securities and Exchange Commission (SEC) trolled investors in a lesson about ICO fraud. On Wednesday the SEC set up the website for a fake ICO called HoweyCoin and promoted the website. The ICO uses crypto buzzwords and promises great investment returns. Once a person clicks the “Buy Coins Now!” button, the website redirects to the SEC’s educational material, which lists red flags of potential ICO scams. The fact that people fell for HoweyCoin should be a reminder for people to do their own research and due diligence.

Though crypto prices fell slightly this week, they are still trading around $375 billion. BTC tested the $8,000 level, and ETH bounced from $650. Many investors hoped that Consensus would cause prices to rise, but it seems more apprehension remains.

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