Terra founder Do Kwon reportedly arrested in Montenegro.
https://twitter.com/filip_adzic/status/1638886164118802432
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https://twitter.com/filip_adzic/status/1638886164118802432
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Terra founder Do Kwon reportedly arrested in Montenegro. https://twitter.com/filip_adzic/status/1638886164118802432 📍 Follow @Coins for the hottest news in crypto.
So, this could be The Big One. Or not. A man believed to be Terraform Labs head Do Kwon was arrested in Montenegro. But we’re still waiting on solid proof of that. Let’s explain.
Montenegro’s interior minister – a rather stern looking man named Filip Adzic – tweeted this morning that a person thought to be the fugitive founder was taken into custody at the airport in the capital of Podgorica. But that’s all we got. At least initially.
South Korean news outlet Yonhap later chimed in, citing police in that country, to say authorities were waiting on fingerprints to confirm the identity of the person who was arrested.
Then later still Montenegro's Ministry of Internal Affairs tweeted some more specific information about the arrests, saying South Korean citizens "Kwon Do Hyeong and Hon Chang Joon were apprehended and brought to the Basic State Prosecutor's Office in Podgorica, on criminal charges for the criminal offense of document forgery."
The ministry said the two were apprehended during passport checks while attempting to fly to Dubai using forged Cost Rican travel documents.
It also said a warrant had been issued by Korean authorities.
But no word on those fingerprints or any other confirmation other than the tweets. So, as we said, it could be the big one, or not.
For anyone needing a history lesson, Kwon is being sought by authorities in several countries for his role in the collapse of TerraUSD, the stablecoin created by Terraform Labs which spectacularly collapsed in May 2022, wiping out tens of billions of dollars for investors.
Reports of his whereabouts have become fodder for crypto Twitter as he would randomly pop up with a tweet, whereabouts unknown.
Korean prosecutors reportedly traveled to Serbia, which borders Montenegro, in February in an effort to track down Kwon.
The U.S. Securities and Exchange Commission brought civil charges against Kwon last month, accusing him of failing to "provide the public with full, fair and truthful disclosure as required for a host of crypto asset securities."
Let’s wait and see how those fingerprints look.
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Montenegro’s interior minister – a rather stern looking man named Filip Adzic – tweeted this morning that a person thought to be the fugitive founder was taken into custody at the airport in the capital of Podgorica. But that’s all we got. At least initially.
South Korean news outlet Yonhap later chimed in, citing police in that country, to say authorities were waiting on fingerprints to confirm the identity of the person who was arrested.
Then later still Montenegro's Ministry of Internal Affairs tweeted some more specific information about the arrests, saying South Korean citizens "Kwon Do Hyeong and Hon Chang Joon were apprehended and brought to the Basic State Prosecutor's Office in Podgorica, on criminal charges for the criminal offense of document forgery."
The ministry said the two were apprehended during passport checks while attempting to fly to Dubai using forged Cost Rican travel documents.
It also said a warrant had been issued by Korean authorities.
But no word on those fingerprints or any other confirmation other than the tweets. So, as we said, it could be the big one, or not.
For anyone needing a history lesson, Kwon is being sought by authorities in several countries for his role in the collapse of TerraUSD, the stablecoin created by Terraform Labs which spectacularly collapsed in May 2022, wiping out tens of billions of dollars for investors.
Reports of his whereabouts have become fodder for crypto Twitter as he would randomly pop up with a tweet, whereabouts unknown.
Korean prosecutors reportedly traveled to Serbia, which borders Montenegro, in February in an effort to track down Kwon.
The U.S. Securities and Exchange Commission brought civil charges against Kwon last month, accusing him of failing to "provide the public with full, fair and truthful disclosure as required for a host of crypto asset securities."
Let’s wait and see how those fingerprints look.
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Decentralized infrastructure protocol The Graph teamed up with web3 fiat-to-crypto gateway Banxa, enabling users to pay with fiat currency rather than just crypto to access its indexing and querying data from blockchains.
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El Salvador President to eliminate all income, property, and capital gains taxes on technology innovations.
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Forwarded from Crypto Rekt Liquidations Bot
Binance has announced that all spot trading is currently temporarily suspended due to an issue impacting spot trading on Binance.
The exchange team announced they are in works and trying to resolve this as soon as possible.
https://twitter.com/binance/status/1639230280119775234
The exchange team announced they are in works and trying to resolve this as soon as possible.
https://twitter.com/binance/status/1639230280119775234
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If you know about this artwork. You are the real OG.
More coming....!
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More coming....!
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Collector accidentally burns their $123,000 CryptoPunk (CryptoPunk #685):
The new owner of a CryptoPunk, one of the most popular early NFT projects, accidentally burned the NFT they had only just purchased. After spending 77 ETH ($123,434) on the NFT, the owner tried to wrap it so they could borrow against it.
However, some confusing instructions resulted in the owner sending the punk to the burn address, effectively destroying the NFT. "I was trying to wrap it and don't know what I was doing... Thought I was following the directions exactly..." they later wrote. They also later shared that they had borrowed money in order to purchase the CryptoPunk.
https://twitter.com/vitalitygrowth/status/1639489299254063105
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The new owner of a CryptoPunk, one of the most popular early NFT projects, accidentally burned the NFT they had only just purchased. After spending 77 ETH ($123,434) on the NFT, the owner tried to wrap it so they could borrow against it.
However, some confusing instructions resulted in the owner sending the punk to the burn address, effectively destroying the NFT. "I was trying to wrap it and don't know what I was doing... Thought I was following the directions exactly..." they later wrote. They also later shared that they had borrowed money in order to purchase the CryptoPunk.
https://twitter.com/vitalitygrowth/status/1639489299254063105
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Total deposits are down 3.5% from its highs or more than $650 billion from the peak.
This is the largest drawdown in deposits in the last 2 decades surpassing the GFC levels.
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This is the largest drawdown in deposits in the last 2 decades surpassing the GFC levels.
📍 Follow @Coins for the hottest news in crypto.
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Chinese Banks Court Crypto Firms in Hong Kong After Mainland Ban.
Bocom, Bank of China among lenders looking at crypto firms.
Hong Kong sees a rush of firms into city after policy shift.
The Hong Kong arms of Bank of Communications Co., Bank of China Ltd. and Shanghai Pudong Development Bank have either started offering banking services to local crypto firms or have made inquiries to the field. Sales representatives from one Chinese bank even visited the office of a crypto company to pitch its services.
https://www.bloomberg.com/news/articles/2023-03-27/chinese-banks-court-crypto-firms-in-hong-kong-after-mainland-ban
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Bocom, Bank of China among lenders looking at crypto firms.
Hong Kong sees a rush of firms into city after policy shift.
The Hong Kong arms of Bank of Communications Co., Bank of China Ltd. and Shanghai Pudong Development Bank have either started offering banking services to local crypto firms or have made inquiries to the field. Sales representatives from one Chinese bank even visited the office of a crypto company to pitch its services.
https://www.bloomberg.com/news/articles/2023-03-27/chinese-banks-court-crypto-firms-in-hong-kong-after-mainland-ban
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Bloomberg.com
Chinese Banks Court Crypto Firms in Hong Kong After Mainland Ban
Crypto firms rushing into Hong Kong after the city opened its doors to the battered sector are finding a surprising source of potential support: China’s state-owned banks.
Shifting point between long term holders and new buyers
This method is used in identifying the approximate time in which the new bull market shall start is very useful specially for long term investment with high ROI ratio.
When the long aged stored coins are accumulated for long time metric is decreasing until the intersection point between the (6m-12m and the 12m-18m) this drop is due to 2 things.
Historically it showed a good indication of the presence of an under-valued market. a stage where these coins are shifted into a younger age bands which means some people are accumulating some future investment specially when there is a noticeable increase in the young age bands even few moths before the new bull market start. As for now we are at the under-values stage and is a good time for future investment with a good ROI ratio.
https://cryptoquant.com/insights/quicktake/641fd8215d1c2e47c09a7b16-Shifting-point-between-long-term-holders-and-new-buyers
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This method is used in identifying the approximate time in which the new bull market shall start is very useful specially for long term investment with high ROI ratio.
When the long aged stored coins are accumulated for long time metric is decreasing until the intersection point between the (6m-12m and the 12m-18m) this drop is due to 2 things.
Historically it showed a good indication of the presence of an under-valued market. a stage where these coins are shifted into a younger age bands which means some people are accumulating some future investment specially when there is a noticeable increase in the young age bands even few moths before the new bull market start. As for now we are at the under-values stage and is a good time for future investment with a good ROI ratio.
https://cryptoquant.com/insights/quicktake/641fd8215d1c2e47c09a7b16-Shifting-point-between-long-term-holders-and-new-buyers
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An update on our work today to recover funds for Euler protocol users. Here are a few actions we took immediately: 1. Stopped the direct attack as soon as possible by helping disable the EToken module, which blocked deposits and the vulnerable donation…
Euler: The hacker returned 58,737 ETH of the 96,000 ETH stolen.
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Kenya signs deal with Saudi Arabia and UAE to buy oil with Kenyan shillings instead of US dollars.
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Founder of Polygon, Sandeep Naiwal tweets:
Vitalik Buterin did the symbolic first ever transaction on Polygon's zkEVM and it has a message on it
"Millions of constraints for man, unconstrained scalability for mankind"
https://twitter.com/sandeepnailwal/status/1640363226973065218
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Vitalik Buterin did the symbolic first ever transaction on Polygon's zkEVM and it has a message on it
"Millions of constraints for man, unconstrained scalability for mankind"
https://twitter.com/sandeepnailwal/status/1640363226973065218
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Digital asset investment products saw inflows totalling $160m, the largest since July 2022. A marked turnaround following 6 weeks of outflows that totalled $408m.
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