🚨 Korean authorities reportedly have proof of Kwon’s LUNA price manipulations
Korean prosecutors have obtained proof that Do Kwon purposely manipulated Terra’s (LUNA) market price, as announced by crypto influencer FatManTerra. Citing the local news sources, FatManTerra said the prosecutors obtained a private conversation between Kwon and one of his employees, where Kwon ordered LUNA’s market price to be manipulated. In October, Korean officials located and arrested Terraform Labs‘ Head of General Affairs, Yoo Mo, for deceiving the community by faking market data. Mo’s arrest warrant was issued on Oct. 5, and he got arrested on Oct. 6.
📣 Coinbase Earnings Shows Uneven Growth in Ethereum, Solana and Cardano Staking
Coinbase has a ways to go before it becomes the “#1 staking provider.” The last time Coinbase reported quarterly earnings, in August, the company told shareholders it had prioritized development of its staking products and has a long-term goal of becoming the top provider. While reporting its Q3 earnings on Thursday, Coinbase (COIN) had mixed results for its “blockchain rewards” category. It saw $63 million in revenue for the quarter, down 18% from $77 million the same time last year. Keep in mind there’s hardly any asset that compares favorably to this time last year, when crypto markets had surpassed a $3 trillion market capitalization and Coinbase’s share price closed at $337.05.
📣 Crypto.com unveiled as FIFA World Cup Qatar 2022™ Official Sponsor
FIFA has announced that Crypto.com will be an Official Sponsor of the FIFA World Cup Qatar 2022™. The company will be the exclusive cryptocurrency trading platform sponsor of Qatar 2022™ and will benefit from significant branding exposure both within and outside the tournament’s stadiums. Founded in 2016, Crypto.com today serves more than 10 million customers and has over 4,000 employees across its offices in the Americas, Europe and Asia. The company, which is built on a foundation of security, privacy and compliance, is designed to accelerate the global adoption of cryptocurrencies through its service offerings.
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📣 Circle is bringing Euro Coin to Solana in first half of 2023
Payments firm Circle is bringing Euro Coin to the Solana blockchain and expanding its cross-chain protocol to Solana in the first half of 2023. Circle only launched Euro Coin as a European take on its popular stablecoin USDC in June. Euro Coin works in the same way but is pegged to the euro instead of the dollar. It’s currently live on the Ethereum blockchain. FTX will add support for the Euro Coin when it goes live on Solana, Circle said in a statement. Circle said other decentralized finance protocols have also expressed interest in supporting the stablecoin when it launches. Circle is also planning to expand its cross-chain transfer protocol — which is yet to launch — to Solana. This protocol was announced in September and is set to go live in the beginning of 2023 on Ethereum and Avalanche.
🚨 High Taxes Can Kill the Crypto Industry in India, CZ Cautions
Besides existing taxes, a new draft ITR form suggests that foreign businesses could be taxed if they have got a user base in India. India’s anti-crypto policy came into sharp focus at the prestigious Singapore Fintech Festival (2-4 November), where Binance CEO flagged high tax rates as undoing the fledgling crypto business in the country. Binance CEO Changpeng Zhao (CZ), during a panel discussion at SFF that was live-streamed, said, “India has high tax, which is probably going to kill the industry.” He was referring to new crypto taxes that became effective from April this year, media reports noted.
📣 Terra Do Kwon wants to invite the police for a conference
Embattled Terra founder Do Kwon said he would throw a meetup/conference to end all the talks of him being in hiding soon, according to a November 3 tweet. Kwon stated that those spreading falsehood would have a VIP invitation to the event and also expressed willingness to pay for their plane ticket. Since Terra’s crash in May, the crypto community has extensively wondered about his location. South Korean authorities stated that Kwon had left Singapore for Dubai. South Korean prosecutors also claim they have found evidence of price manipulation. The reported evidence is a “messenger conversation” between Kwon and a former Terraform Labs employee, where he ordered that the price of LUNC be manipulated.
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🚨 Coinbase burns $546M of USD resources as it reports another quarter in the red with a 55% revenue decline
Coinbase reported its third-quarter earnings after the bell on Nov. 3, revealing a decline of 55% in revenue year-over year as Q3 revenue came in at $590.3 million, down from null.31 billion in Q3 2021. The company’s also recorded a net loss of $540.6 million, or $2.43 per share, versus net income of $402.3 million, or null.62 per share, in the third quarter last year. Assets on platform at the end of Q3 totaled $101 billion, a decline of $154 billion from Q3 2021. The company’s market share of the total crypto market capitalization also fell to 9.6% at the end of Q3 from 9.9% at the end of Q2. Coinbase noted that trading volume has been shifting away from the U.S.
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🇪🇺 EU Delays Vote on MiCA Crypto Legislation Until February
The European Parliament was to take its final vote on the Markets in Crypto-Assets legislation in an upcoming plenary session in November. But the draft needs to be translated into the 24 official EU languages. But since the text is technical and lengthy, the regulation’s adoption is now anticipated for February 2023. The MiCA legislation gives European regulators a period of 12 to 18 months to write and apply new rules based on the legislation. During this time, Europe’s financial supervisors and the European Commission will iron out final details as to how to implement the law.
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📣 Pre-production Solana phone to ship to developers in December
Pre-production versions of the Solana phone will be shipped to developers from Dec. 15, as the phone gears up for introduction in early 2023. Around 3,500 developer-focused kits have been manufactured and are boxed up, according to an update at Breakpoint, Lisbon. The last hurdle is the release software that’s going through final testing. The phones will let developers in the Solana ecosystem test decentralized applications for the Solana dApp store. They will also let developers try out the Solana Mobile Stack and the Seed Vault, the way the phone stores private keys.
Grayscale May Reward Shareholders With ETHPoW Cash Disbursal
The world’s largest digital asset manager said its Ethereum investors have rights to newly forked ETHPoW tokens. Grayscale – one of the world’s largest cryptocurrency asset managers – may be readying a cash-airdrop for holders of its Ethereum Trust and Digital Large Cap Fund. The cash grant represents the value of ETHPoW (ETHW) tokens that Grayscale investors. The filing declared Grayscale’s right to distribute the cash equivalent of ETHW tokens to its Ethereum product holders by September 26th. That said, the exact worth of such assets is unclear. ETHW launched merely hours after Ethereum’s Merge, which converted Ethereum’s consensus mechanism to proof of stake.
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