Author: NBTC

Do Kwon was released from prison in Montenegro on Saturday pending extradition to either the U.S. or South Korea Kwon has missed the start of a civil fraud trial against him and Terraform Labs that kicked off in Manhattan on Monday Terraform Labs co-founder Do Kwon has been released from prison in Montenegro as the Balkan country’s Supreme Court weighs competing extradition requests from the U.S. and South Korea. Both countries want to try Kwon on criminal charges, including fraud, tied to the $40 billion collapse of the Terra ecosystem in May 2022. After the Terra implosion, Kwon spent months…

Crossmint, a Web3 development platform, recently partnered with Astar, a well-known blockchain network, and Hakuhodo KEY3, a forward-thinking initiative, in response to Japan’s corporations’ determination to embrace Web3 solutions. This collaboration aims to leverage the robust developer tools provided by Crossmint and the Astar blockchain to streamline the implementation of Web3 technologies for major Japanese corporations. By doing so, these organizations may potentially achieve significant cost savings in development, amounting to millions of dollars. Notable global brands like Microsoft, Etihad Airways, Johnnie Walker, and AC Milan are among Crossmint’s growing list of customers thanks to the reliability of its Web3…

The decentralized finance (DeFi) ecosystem is undergoing a shift towards more rational investments and maturing confidence, according to Exponential.fi’s latest report “The dawn of a new era in DeFi: From winter chills to summer thrills.” As the ‘DeFi Winter’ weakens its grip, the report states that the path ahead is a ‘hot bull summer’. Investors are now showing a marked preference for security, with a significant 75% of DeFi’s total value locked (TVL) flowing into pools offering a modest annual percentage yield (APY) of up to 5%. This conservative shift is particularly noticeable in Ethereum staking pools and highlights a…

A trader recently flipped 2 Solana (SOL) tokens worth $368 to 1,408 SOL valued at $260,000 while trading Solana memecoin SHAD. As highlighted by the crypto analytics service provider Lookonchain, the trader (with wallet “5aLaR….GJXA”) placed a bold bet on Solana memecoin SHAD raking in a cumulative gain of 704x. With the memecoin season fully underway, many traders are cashing out huge sums in just a few days, reiterating similar trends over the past year. SHAD as a memecoin emerged about 24 hours ago and it rose to an All-Time High (ATH) of $0.088. Its Fully Diluted Volume (FDV) and…

The U.S. Securities and Exchange Commission (SEC) has accused Terraform Labs and its founder Do Kwon of building a “paper house” ready to collapse and deceiving investors about the stability of a cryptocurrency. The cryptocurrency named LUNA, which the SEC mentioned, was one of the main actors of the cryptocurrency market decline in 2022. The SEC also alleges that Kwon and Terraform Labs misled investors in 2021 about the stability of TerraUSD, a stablecoin designed to maintain the value of $1. The regulator also accuses them of falsely claiming that Terraform’s blockchain was used in a popular Korean mobile payment…

Russian ministries could be prepared to “legalize” industrial crypto mining in the country. But one key department could yet throw a spanner in the works. After years of dismay and repeated pleas for Moscow to formally recognize mining as a form of “entrepreneurship,” miners this month submitted a new draft bill to ministries. Per the Russian newspaper Izvestia, most ministers are now ready to grant mining legal status. However, the Ministry of Industry and Trade – which has the final say on business classifications – is not convinced. Russian Ministries ‘Break Ice’ on Crypto Mining Discussion Miners want Moscow to…

The launch of SolvBTC on major EVM-compatible blockchains is a remarkable milestone for the Bitcoin (BTC) ecosystem and Web3 as such. It unlocks attractive investing opportunities for holders of idle BTC in on-chain wallets. SolvBTC by Solv kicks off on Ethereum, Arbitrum, BNB Chain and Merlin Chain The team of Solv has announced the release of SolvBTC, the first yield-bearing BTC token for the omnichain landscape. Backed by a diverse delta-neutral portfolio, SolvBTC can provide BTC-based yields of 5-10%. @LidoFinance popularized Liquid Staking Derivatives (LSDs) for the ETH ecosystem.@SolvProtocol will usher in a new era for Bitcoin with Liquid Strategy…

Ondo Finance has launched Ondo Global Markets to expand tokenized asset offerings. This is a part of the mission to expand across multiple chains, having previously integrated with Solana, Sui, and Aptos blockchains. Members of the community have responded positively to this development, and so has its native token, ONDO. The native token of the DeFi protocol aims to democratize access to institutional-grade financial products. ONDO was initially marking an uptick of 25.84%. That has grown to 40.90% in the last 24 hours. ONDO is exchanging hands at $0.5757, which reflects a rise of 72.265 in the previous 30 days…

In one of the most important developments of the day, Terraform Labs, the developer company behind Terra (LUNA), began its hearing with the Securities and Exchange Commission (SEC). The case involving Terraform Labs and its founder Do Kwon is attracting a lot of attention from the cryptocurrency community. Chris Amani, the newly appointed CEO of Terraform Labs, broke his silence on the ongoing hearing: “SEC litigation has begun. “I have been quiet for the last month as I have been focusing on preparations, and you will not hear from me during the hearing.” Amani did not mince words about the…

Crypto miner Bitdeer is in discussions with private credit firms to secure $100m in financing to expand its Bitcoin mining capacity. Bloomberg reported Wednesday that talks are still ongoing, with details yet to be finalized. Bitdeer is among the largest bitcoin miners globally. It went public on Nasdaq in April last year through a special purpose acquisition company merger. Headquartered in Singapore, it is recognized for its cloud services expediting GPU instance deployment. The firm manages mining farms globally, with a total electricity capacity of 895MW. Jihan Wu, a prominent figure in the crypto space, serves as founder and CEO…