South Korean authorities are telling embattled Terraform Labs founder Do Kwon to hand over his passport as they claim he is on the run. An arrest warrant for the 31-year-old Kwon was reportedly issued last month in the aftermath of the financial scandal that wiped out $40 billion from the market when his project’s stablecoin …
Monthly archives: October 2022
Ripple Protests SEC’s Move To Block Third-Party Evidence, Says Regulator Mischaracterizing Law in XRP Lawsuit
Ripple Labs is protesting the U.S. Securities and Exchange Commission’s (SEC) move to block third-party evidence in the lawsuit the regulatory agency filed against them. According to evidence procured by defense lawyer James K. Filan, Ripple recently penned a letter to Judge Analisa Torres saying that the SEC is mischaracterizing the law by moving to …
Coinbase CEO Brian Armstrong Says Institutional Interest in Crypto Growing Despite Bear Market
The head of the largest US-based cryptocurrency exchange says institutional buyers are still into crypto amid the crypto winter. In a new interview released on Coinbase’s YouTube channel, Armstrong expands on the exchange’s history with crypto bear markets. “We’ve been through four of these now. It’s funny, I would say in the last crypto winter, we did …
Colorado is accepting crypto for tax payments — it could be a mess or a shining example
Colorado is now accepting crypto for tax payments — but if you choose to use that option, it could change the amount you owe. Colorado is accepting crypto as payment for any taxes owed to the state as of Sept. 1. It was the result of a promise made earlier in the year by Colorado …
BNB Chain confirms BSC halt due to ‘potential exploit’
Rumors of a significant hack on the BNB Chain were confirmed by the blockchain’s team, with all deposits and withdrawals suspended on the network. BNB Chain (BNB) the blockchain of cryptocurrency exchange Binance, was paused on Oct. 6 due to what it states is “irregular activity” on the network with the team having determined a …
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More than 30% of Canadians plan to purchase crypto by 2024, says OSC head
Ontario Securities Commission CEO Grant Vingoe said the regulator planned to release a report in October which included crypto adoption rates in Canada. Grant Vingoe, chief executive officer of the Ontario Securities Commission, reiterated the regulator’s technology-neutral stance on crypto while saying many Canadians planned to become HODLers in the near future. In a keynote …
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Global Bitcoin adoption is ‘still in its infancy,’ but here’s how it might accelerate
Rome wasn’t built in a day, and it will also take some time for every country on Earth to adopt BTC. Bitcoin (BTC) adoption by governments and companies remains a dubious question and the “digital gold” thesis proposed by advocates faced harsh critics after Tesla sold 75% of its holdings in the second quarter of 2022. …
$590M BNB moved to Tether-blacklisted wallet amid rumors of Binance hack
Two million BNB tokens worth roughly $590 million were transferred to a newly generated wallet to an address that Tether then blacklisted. The blacklisting was highlighted by a Tether bot on Twitter, fueling the rumor of one of the year’s biggest hacks. [2022/10/06 21:24] USDT blacklisted 0x489a8756c18c0b8b24ec2a2b9ff3d4d447f79bec in block 15691728 https://t.co/qhyr8eHU84 — usdt blacklist (@usdtblacklist) …
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CryptoSlate Wrapped Daily: South Korean authorities fail to follow through on Do Kwon aide’s arrest; EU puts more crypto sanctions on Russia
The biggest news in the cryptosphere for Oct.6 includes the arrest and release of Do Kwon’s aide, the EU’s crypto sanctions on Russia, and 0.03 Bitcoin distributed to three winners by Michael Saylor through the Lightning Network. CryptoSlate Top Stories South Korea tightens circle on Do Kwon, arrests his aide Terraform Labs founder Do Kwon’s aide Yoo Mo …
South Korean court dismisses arrest warrant for Do Kwon’s aide
A South Korean District Court has dismissed the arrest warrant issued against the Head of General Affairs at Terraform Labs Yoo Mo, according to local news Yonhap. Yoo Mo, who doubled as Do Kwon’s aide, was reportedly arrested in the early hours of Oct. 6, following an arrest warrant issued on Oct. 5. Mo was …
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Marathon Digital invested over $30 million in bankrupt Compute North
Marathon holds 10,670 BTC, which is valued at roughly $207.3 million. 2 min read Updated: October 6, 2022 at 7:02 pm Cover art/illustration via CryptoSlate Bitcoin (BTC) miner Marathon Digital has disclosed it invested $10 million in convertible preferred stock and $21.3 million in unsecured senior promissory notes in bankrupt crypto firm Compute North, according …
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Despite Tornado Cash fiasco, Bitcoin SV launches ‘Blacklist Manager’ tool
Bitcoin SV has launched “Blacklist Manager,” enabling miners to freeze lost or stolen tokens “to comply with court orders” and assist in asset recovery. A tweet announcing the new function opened with an analogy of gold turning to lead when stolen and back into gold if returned. ‘Imagine if gold turned to lead when stolen. …
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Research: After September bloodbath, historically bullish Q4 could ease the pain
A September bloodbath is a recurring theme both in crypto and in tradfi, but it has historically been followed by a positive Q4. But, with midterms approaching and macro uncertainty increasing, historical patterns could be broken. 2 min read Updated: October 6, 2022 at 5:02 pm Cover art/illustration via CryptoSlate Since the beginning of the …
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EU narrows Russia’s options further with crypto sanctions
The EU says its sanctions will potentially weaken Russia’s industrial capacity to continue its war in Ukraine. 1 min read Updated: October 6, 2022 at 4:28 pm Cover art/illustration via CryptoSlate The European Union (EU) commission has imposed a new wave of sanctions on Russia over its invasion of Ukraine, according to an Oct. 6 …
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8 Years Ago Today: Bitcoin Traders Slayed the Infamous Bear Whale Who Dumped 30,000 BTC in a Single Trade
Eight years ago today on October 6, 2014, while the price of bitcoin was coasting along at $330 per unit, an anonymous Bitstamp trader placed an order to sell 30,000 bitcoins. Moreover, the trader, now infamously known as the “Bear Whale,” sold the coins at $300 per unit, which put extreme pressure on the nascent …