Breaking: Do Kwon To Be Released From Jail, Travel Ban In Place
CoinGape (RSS)
Terraform Labs co-founder Do Kwon, according to a recent ruling, is set to be released from jail and placed under house arrest, a decision made by the Montenegrin court system. This comes in the midst of an intricate legal issue involving extradition requests from South Korea, where Kwon is wanted in connection to the collapse of the TerraUSD stablecoin, which caused huge financial losses estimated at around $40 billion in 2022.
As per Coingape’s earlier report, the Montenegrin Supreme Court has, however, postponed the extradition process of Kwon due to procedural mistakes and the overstepping of jurisdiction by the lower courts, hence postponing Kwon’s transfer to South Korea.
Do Kwon’...
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CoinGape (RSS)
Terraform Labs co-founder Do Kwon, according to a recent ruling, is set to be released from jail and placed under house arrest, a decision made by the Montenegrin court system. This comes in the midst of an intricate legal issue involving extradition requests from South Korea, where Kwon is wanted in connection to the collapse of the TerraUSD stablecoin, which caused huge financial losses estimated at around $40 billion in 2022.
As per Coingape’s earlier report, the Montenegrin Supreme Court has, however, postponed the extradition process of Kwon due to procedural mistakes and the overstepping of jurisdiction by the lower courts, hence postponing Kwon’s transfer to South Korea.
Do Kwon’...
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Bullish Flag Pattern Sets Worldcoin Price Rally To $12
CoinGape (RSS)
The formation of a bullish flag pattern hints the buyers take a minor pullback before an aggressive up rally. Amid the current mark correction trend, the Worldcoin price witnessed an immediate reversal from the high of $11.97. Within two weeks, the WLD value tumbled 31% to currently trade at $8.25, and the market cap plunged to $1.28 Billion. As Bitcoin price is yet to show a sustainable rebound, the altcoins are at risk of further downfall.
Also Read: Worldcoin Doubles Down on Data Privacy With Personal Custody Tool
Will WLD Price Lose $6 Support?
Worldcoin Price| Tradingview
Analyzing the daily chart shows, that the Worldcoin price resonates within ...
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CoinGape (RSS)
The formation of a bullish flag pattern hints the buyers take a minor pullback before an aggressive up rally. Amid the current mark correction trend, the Worldcoin price witnessed an immediate reversal from the high of $11.97. Within two weeks, the WLD value tumbled 31% to currently trade at $8.25, and the market cap plunged to $1.28 Billion. As Bitcoin price is yet to show a sustainable rebound, the altcoins are at risk of further downfall.
Also Read: Worldcoin Doubles Down on Data Privacy With Personal Custody Tool
Will WLD Price Lose $6 Support?
Worldcoin Price| Tradingview
Analyzing the daily chart shows, that the Worldcoin price resonates within ...
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FTX to offload $1B Anthropic stake to pay off bankruptcy debts within weeks — report
Cointelegraph.com News (RSS)
Current investors such as Google and Amazon are not considering purchasing the stake, according to the report.
Cointelegraph.com News (RSS)
Current investors such as Google and Amazon are not considering purchasing the stake, according to the report.
Crypto markets need ‘disinfectant,’ says SEC chair
Cointelegraph.com News (RSS)
Gary Gensler implied many market participants preferred to “whittle away at the SEC’s disclosure regime” rather than register, despite criticism that the requirements were unclear.
Cointelegraph.com News (RSS)
Gary Gensler implied many market participants preferred to “whittle away at the SEC’s disclosure regime” rather than register, despite criticism that the requirements were unclear.
Bitcoin rebounds after testing key support level
Cryptopolitan (RSS)
Bitcoin, the leading cryptocurrency, has shown resilience after retesting a significant support level, sparking optimism among investors. On-chain data indicates that Bitcoin experienced a notable price drop, reaching a low of $60,600, before embarking on a sharp recovery. Analysts point to the Adjusted Spent Output Profit Ratio (aSOPR) as a crucial metric signaling market dynamics during this period.
On-chain indicator signals market sentiment
The Adjusted Spent Output Profit Ratio (aSOPR) is a vital on-chain indicator that reflects whether Bitcoin investors realize a net profit or loss from their transactions. By analyzing blockchain history, the aSOPR assesses the price at which coins were last transferred, distinguishing between profit-taking and loss-making transactions. Notably, the “Adjusted” aspect of the metric excludes i...
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Cryptopolitan (RSS)
Bitcoin, the leading cryptocurrency, has shown resilience after retesting a significant support level, sparking optimism among investors. On-chain data indicates that Bitcoin experienced a notable price drop, reaching a low of $60,600, before embarking on a sharp recovery. Analysts point to the Adjusted Spent Output Profit Ratio (aSOPR) as a crucial metric signaling market dynamics during this period.
On-chain indicator signals market sentiment
The Adjusted Spent Output Profit Ratio (aSOPR) is a vital on-chain indicator that reflects whether Bitcoin investors realize a net profit or loss from their transactions. By analyzing blockchain history, the aSOPR assesses the price at which coins were last transferred, distinguishing between profit-taking and loss-making transactions. Notably, the “Adjusted” aspect of the metric excludes i...
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Bitcoin Halving to Test Mining Efficiency, Executives Warn
Cryptopolitan (RSS)
As the Bitcoin halving approaches, industry executives anticipate significant challenges for smaller and less efficient miners, while well-established players are poised to weather the storm with operational efficiency and capital access.
Impact on profitability and network fees
In less than a month, Bitcoin miners will experience a reduction in block rewards, expected to substantially dent profitability and income. This looming reality has prompted major mining firms to prepare for the impending halving, which is set to test the resilience of various players in the market.
According to Adam Swick, Chief Growth Officer at Marathon Digital, the halving will serve as a litmus test, separating the efficient and well-funded mining entities from the rest. Larger firms with robust operational structures and ample access t...
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Cryptopolitan (RSS)
As the Bitcoin halving approaches, industry executives anticipate significant challenges for smaller and less efficient miners, while well-established players are poised to weather the storm with operational efficiency and capital access.
Impact on profitability and network fees
In less than a month, Bitcoin miners will experience a reduction in block rewards, expected to substantially dent profitability and income. This looming reality has prompted major mining firms to prepare for the impending halving, which is set to test the resilience of various players in the market.
According to Adam Swick, Chief Growth Officer at Marathon Digital, the halving will serve as a litmus test, separating the efficient and well-funded mining entities from the rest. Larger firms with robust operational structures and ample access t...
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Terraform Labs’ Do Kwon to be released from Montenegro prison, remains under legal scrutiny
Cryptopolitan (RSS)
Do Kwon, the co-founder of Terraform Labs, is set for release from Spuž prison in Montenegro, with strict conditions preventing his departure from the country. Following a court order, Kwon’s passport was confiscated, a measure aimed at ensuring he stayed within Montenegrin jurisdiction. This development is part of the ongoing legal proceedings against Kwon, who faces charges in multiple countries related to his role in the cryptocurrency market.
Montenegro’s High Court made the decision to release Kwon but restrict his movement, citing the need to keep him accessible for legal actions. Kwon’s legal troubles stem from the 2022 collapse of Terraform Labs’ digital currencies, Terra and Luna, which resulted in over $40 billion in market value disappearing almost overnight. This financial debacle has led to investigations by both South Korean and U.S. authorities, who accuse Kwo...
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Cryptopolitan (RSS)
Do Kwon, the co-founder of Terraform Labs, is set for release from Spuž prison in Montenegro, with strict conditions preventing his departure from the country. Following a court order, Kwon’s passport was confiscated, a measure aimed at ensuring he stayed within Montenegrin jurisdiction. This development is part of the ongoing legal proceedings against Kwon, who faces charges in multiple countries related to his role in the cryptocurrency market.
Montenegro’s High Court made the decision to release Kwon but restrict his movement, citing the need to keep him accessible for legal actions. Kwon’s legal troubles stem from the 2022 collapse of Terraform Labs’ digital currencies, Terra and Luna, which resulted in over $40 billion in market value disappearing almost overnight. This financial debacle has led to investigations by both South Korean and U.S. authorities, who accuse Kwo...
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Venture capital firm’s general counsel lambasts SEC over crypto regulation
Cryptopolitan (RSS)
In a scathing critique of the United States Securities and Exchange Commission (SEC), Miles Jennings, General Counsel at a16z Crypto, one of the world’s largest venture capital firms, has launched a blistering attack on the agency’s handling of crypto regulation. The lawyer targeted the SEC’s crypto enforcement division, labeling its lawyers “incompetent” and “complicit in the ongoing abuses of power.”
DebtBox case fallout and mounting pressure
Jennings’ criticism comes in the wake of the SEC’s failed lawsuit against DebtBox, a blockchain firm accused of fraud leading to a loss of over $49 million for investors. The regulator alleged that DebtBox had falsely marketed node licenses for cryptocurrency mining to investors, ultimately leading to no mining activities.
However, Debt...
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Cryptopolitan (RSS)
In a scathing critique of the United States Securities and Exchange Commission (SEC), Miles Jennings, General Counsel at a16z Crypto, one of the world’s largest venture capital firms, has launched a blistering attack on the agency’s handling of crypto regulation. The lawyer targeted the SEC’s crypto enforcement division, labeling its lawyers “incompetent” and “complicit in the ongoing abuses of power.”
DebtBox case fallout and mounting pressure
Jennings’ criticism comes in the wake of the SEC’s failed lawsuit against DebtBox, a blockchain firm accused of fraud leading to a loss of over $49 million for investors. The regulator alleged that DebtBox had falsely marketed node licenses for cryptocurrency mining to investors, ultimately leading to no mining activities.
However, Debt...
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KuCoin becomes India’s first FIU-compliant global crypto exchange
Cryptopolitan (RSS)
Taking us all by surprise, KuCoin has been named the first-ever global cryptocurrency platform to meet the strict compliance standards set by the Financial Intelligence Unit—India (FIU-IND). This regulatory body, a very powerful arm of the Department of Revenue within the Indian Government, is tasked with gathering financial intelligence related to offenses under the Prevention of Money Laundering Act (PMLA) of 2002.
Why the FIU Matters
Operating since November 2004, the FIU-IND is at the top of India’s efforts to combat financial crimes, reporting directly to the Economic Intelligence Council led by the Finance Minister. The primary functions of the FIU-IND includes a wide range of activities directed at preventing money laundering and assoc...
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Cryptopolitan (RSS)
Taking us all by surprise, KuCoin has been named the first-ever global cryptocurrency platform to meet the strict compliance standards set by the Financial Intelligence Unit—India (FIU-IND). This regulatory body, a very powerful arm of the Department of Revenue within the Indian Government, is tasked with gathering financial intelligence related to offenses under the Prevention of Money Laundering Act (PMLA) of 2002.
Why the FIU Matters
Operating since November 2004, the FIU-IND is at the top of India’s efforts to combat financial crimes, reporting directly to the Economic Intelligence Council led by the Finance Minister. The primary functions of the FIU-IND includes a wide range of activities directed at preventing money laundering and assoc...
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Former Three Arrows Capital co-founder sparks controversy amid bankruptcy fallout
Cryptopolitan (RSS)
Adam Davies, the co-founder of the now-bankrupt Singaporean hedge fund Three Arrows Capital (3AC), continues to stir controversy following the fund’s collapse. In a recent episode of the Unchained podcast on March 19, Davies reiterated his lack of remorse for his involvement in the collapse, which has left the fund facing $3.3 billion in creditors’ claims.
Davies, a Singaporean national, defiantly stated, “Am I sorry for a company going bankrupt? No. Like, companies go bankrupt all the time.” Despite facing a Singaporean arrest warrant for contempt of court, Davies has made it clear that he has no intention of returning to the city-state to face jail time. He claims to be “bouncing around between Europe and Asia,” evading legal repercussions.
Failed ventures mark troubled history
Davies’ entrepreneurial v...
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Cryptopolitan (RSS)
Adam Davies, the co-founder of the now-bankrupt Singaporean hedge fund Three Arrows Capital (3AC), continues to stir controversy following the fund’s collapse. In a recent episode of the Unchained podcast on March 19, Davies reiterated his lack of remorse for his involvement in the collapse, which has left the fund facing $3.3 billion in creditors’ claims.
Davies, a Singaporean national, defiantly stated, “Am I sorry for a company going bankrupt? No. Like, companies go bankrupt all the time.” Despite facing a Singaporean arrest warrant for contempt of court, Davies has made it clear that he has no intention of returning to the city-state to face jail time. He claims to be “bouncing around between Europe and Asia,” evading legal repercussions.
Failed ventures mark troubled history
Davies’ entrepreneurial v...
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Apple Shuts In-House Making of Watch Displays After Previous AI Prioritization
CoinGape (RSS)
Apple has decided to shut down plans for the in-house manufacturing of smartwatch displays. According to a Bloomberg report, the tech giant has also decided to go for some job cuts due to this change in operational plans. Apple’s move comes right after it had previously closed its EV segment to focus more on AI.
Apple to Stop Creating Its Own Wearable Display
Bloomberg highlights that Apple is ending another costly R&D project by bringing a stop to a protracted attempt to design and create its in-house wearable displays. The report claims that the corporation has discontinued an internal initiative to produce panels with microLED technology in recent weeks. The displays, which had mo...
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CoinGape (RSS)
Apple has decided to shut down plans for the in-house manufacturing of smartwatch displays. According to a Bloomberg report, the tech giant has also decided to go for some job cuts due to this change in operational plans. Apple’s move comes right after it had previously closed its EV segment to focus more on AI.
Apple to Stop Creating Its Own Wearable Display
Bloomberg highlights that Apple is ending another costly R&D project by bringing a stop to a protracted attempt to design and create its in-house wearable displays. The report claims that the corporation has discontinued an internal initiative to produce panels with microLED technology in recent weeks. The displays, which had mo...
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Breaking: Optimism (OP) Launches Superchain Developer Console
CoinGape (RSS)
With developers in mind, Layer-2 protocol Optimism (OP) has introduced the Superchain Developer Console, for easy building of decentralized applications.
Optimism Console To Facilitate DApp Development
On Friday, Optimism took to the X app to announce the launch of the new platform. According to the announcement, the Superchain provides a conducive environment for app developers to build and scale their businesses. Amongst the perks of leveraging the Optimism Console platform is the fact that it provides a super-mega-easy strategy to accelerate development and lower overhead costs.
The new Optimism Console will provide developers with several perks including access to testnet faucets, and customized app/UX feedback which would help get apps ready for final launch. For the testnet Superchain ...
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CoinGape (RSS)
With developers in mind, Layer-2 protocol Optimism (OP) has introduced the Superchain Developer Console, for easy building of decentralized applications.
Optimism Console To Facilitate DApp Development
On Friday, Optimism took to the X app to announce the launch of the new platform. According to the announcement, the Superchain provides a conducive environment for app developers to build and scale their businesses. Amongst the perks of leveraging the Optimism Console platform is the fact that it provides a super-mega-easy strategy to accelerate development and lower overhead costs.
The new Optimism Console will provide developers with several perks including access to testnet faucets, and customized app/UX feedback which would help get apps ready for final launch. For the testnet Superchain ...
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Top Memecoins Record Liquidations Following Wider Market Outflow
CoinGape (RSS)
The crypto market has witnessed slight liquidations after posting slight gains on the back of the Federal Open Market Committee’s (FOMC) meeting. These liquidations were seen in Bitcoin (BTC), Ethereum (ETH) and memecoin has investor confidence weakened in the last 24 hours.
The memecoin market plunged 4% with a total capitalization of $53.4 billion and a trading volume of $8.3 billion although large gainers were recorded as users flocked around certain tokens.
Market leader by market cap Dogecoin (DOGE) slumped 0.5% with trading volumes of $3.1 billion. The asset showed slight momentum in the last two days but still trades at weekly losses of 9.2%.
Shiba Inu (SHIB) recorded larger outflows with 1.8% losses yesterday and 12...
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CoinGape (RSS)
The crypto market has witnessed slight liquidations after posting slight gains on the back of the Federal Open Market Committee’s (FOMC) meeting. These liquidations were seen in Bitcoin (BTC), Ethereum (ETH) and memecoin has investor confidence weakened in the last 24 hours.
The memecoin market plunged 4% with a total capitalization of $53.4 billion and a trading volume of $8.3 billion although large gainers were recorded as users flocked around certain tokens.
Market leader by market cap Dogecoin (DOGE) slumped 0.5% with trading volumes of $3.1 billion. The asset showed slight momentum in the last two days but still trades at weekly losses of 9.2%.
Shiba Inu (SHIB) recorded larger outflows with 1.8% losses yesterday and 12...
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Bankers Are Lining Up Buyers for FTX’s 8% Stake in AI Startup Anthropic: Report
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
FTX’s slice of artificial intelligence firm Anthropic is up for sale, and global investors including sovereign wealth funds are lining up for the chance to purchase the shares, according to a new report from CNBC citing unnamed sources.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
FTX’s slice of artificial intelligence firm Anthropic is up for sale, and global investors including sovereign wealth funds are lining up for the chance to purchase the shares, according to a new report from CNBC citing unnamed sources.
Estonia advances cryptocurrency regulation bill amidst growing industry concerns
Cryptopolitan (RSS)
The government has approved a bill to regulate cryptocurrency service providers, a significant development for Estonia’s cryptocurrency landscape. This decision marks a crucial step towards comprehensive oversight of the burgeoning crypto sector within the country. However, the bill’s journey to becoming law hinges on a successful parliamentary vote.
Supervision by the Financial Supervision Authority (FSA)
Under the proposed legislation, cryptocurrency service providers would fall under the supervision of the Financial Supervision Authority (FSA), a move designed to bolster regulatory oversight and enhance accountability within the industry. Currently, these providers operate under the purview of the Financial Intelligence Unit (FIU) and must adhere to Anti-Money Laundering (AML) regulations.
If ...
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Cryptopolitan (RSS)
The government has approved a bill to regulate cryptocurrency service providers, a significant development for Estonia’s cryptocurrency landscape. This decision marks a crucial step towards comprehensive oversight of the burgeoning crypto sector within the country. However, the bill’s journey to becoming law hinges on a successful parliamentary vote.
Supervision by the Financial Supervision Authority (FSA)
Under the proposed legislation, cryptocurrency service providers would fall under the supervision of the Financial Supervision Authority (FSA), a move designed to bolster regulatory oversight and enhance accountability within the industry. Currently, these providers operate under the purview of the Financial Intelligence Unit (FIU) and must adhere to Anti-Money Laundering (AML) regulations.
If ...
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Bitcoin slides amid stronger U.S. dollar: Altcoins show mixed performance
Cryptopolitan (RSS)
Bitcoin experienced a 5% decline on Thursday, dipping to $64,600 from its earlier position above $68,000. The drop followed a surge on Wednesday, prompted by a dovish stance from the Federal Reserve. Concurrently, the CoinDesk 20 Index (CD20) also saw a 3.5% decline from its peak, with altcoins generally outperforming bitcoin throughout the day.
Altcoins rise while Bitcoin falters
Despite Bitcoin’s retracement, certain altcoins exhibited notable gains. Ripple’s XRP, Filecoin’s FIL, and Internet Computer’s ICP advanced 6% to 7% over 24 hours. Conversely, native tokens of layer 1 networks such as Solana (SOL), Avalanche (AVAX), and Aptos (APT) experienced losses ranging from 2% to 3%.
The res...
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Cryptopolitan (RSS)
Bitcoin experienced a 5% decline on Thursday, dipping to $64,600 from its earlier position above $68,000. The drop followed a surge on Wednesday, prompted by a dovish stance from the Federal Reserve. Concurrently, the CoinDesk 20 Index (CD20) also saw a 3.5% decline from its peak, with altcoins generally outperforming bitcoin throughout the day.
Altcoins rise while Bitcoin falters
Despite Bitcoin’s retracement, certain altcoins exhibited notable gains. Ripple’s XRP, Filecoin’s FIL, and Internet Computer’s ICP advanced 6% to 7% over 24 hours. Conversely, native tokens of layer 1 networks such as Solana (SOL), Avalanche (AVAX), and Aptos (APT) experienced losses ranging from 2% to 3%.
The res...
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SEC Chairman emphasizes the need for crypto regulation
Cryptopolitan (RSS)
The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler recently delivered a speech emphasizing the importance of securities disclosures for the public good, particularly highlighting concerns within the crypto industry regarding noncompliance with registration requirements. The SEC Chairman’s remarks, made during an event at Columbia Law School, underscored the regulatory challenges posed by digital asset businesses that seek to operate outside the SEC’s disclosure regime.
SEC Chairman doubles down on the need for crypto regulation
One of the key points raised by the SEC Chairman was the issue of certain participants in crypto securities markets attempting to avoid registration requirements, which are essential for ensuring mandatory disclosure to investors. This lack of registration, according to Gensler, results in a lack of ...
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Cryptopolitan (RSS)
The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler recently delivered a speech emphasizing the importance of securities disclosures for the public good, particularly highlighting concerns within the crypto industry regarding noncompliance with registration requirements. The SEC Chairman’s remarks, made during an event at Columbia Law School, underscored the regulatory challenges posed by digital asset businesses that seek to operate outside the SEC’s disclosure regime.
SEC Chairman doubles down on the need for crypto regulation
One of the key points raised by the SEC Chairman was the issue of certain participants in crypto securities markets attempting to avoid registration requirements, which are essential for ensuring mandatory disclosure to investors. This lack of registration, according to Gensler, results in a lack of ...
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