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Hunt for Kwon, Stablecoin Threats, Exchange News Galore and 20 Crypto Jokes

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Journalist

Sead Fadilpašić

Journalist

Sead Fadilpašić

About Author

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated:

October 22, 2023

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This cryptoweek in the cryptoverse – crypto!

But in more detail: crypto prices were down as the week began, ahead of the rate hike announcement from the US Fed, two experts shared their crypto price predictions heading into the FOMC meeting, LUNA dropped as US House bill threatened to ban Terra-like algo stablecoins, and while ETH struggled, some NFT prices were pumping. Also, here’s 10 ways to protect your wealth from the Fed, and check out these 5 cryptos ready to bounce back after the latest crash. Hackers attacked EthereumPOW and some ETH vanity addresses, and Wintermute lost $160m in a hack.

Pew Research Center said 16% of American adults invested in, traded, or used cryptocurrency, Joseph Lubin’s Infura plans to create an Amazon Web services for Ethereum nodes, Japan’s biggest pop producer is set to debut a new “idol group” in the metaverse funded through an IEO, and Shinhan Card launched a blockchain-powered digital warranty service used to certify the authenticity of products. Meanwhile, Vitalik Buterin presented his view on Layer 3.

In the world of exchanges, Nasdaq launched a dedicated digital assets unit to cater to institutional investors, Coinbase updated its fee structure to adapt to “changes in global crypto trading volumes and asset prices”, Jesse Powell stepped down from the Kraken CEO position, Coincheck enlisted top-billing actor Kenji Kohashi to design its metaverse space in The Sandbox, FTX CEO said the exchange built $1 billion war chest to buy up distressed crypto and other assets, the UK’s Financial Conduct Authority issued a warning to consumers not to conduct business with FTX, and four Binance.us customers unexpectedly received a total of almost $22 million in Helium, while Binance bucked the trend when it comes to trading volumes during the bear market.

South Korean prosecutors asked Interpol to issue Terra’s Do Kwon, whom they now call a “fugitive”, with a red notice, claiming that he fled South Korea in April, days before the Terra crash. Also in South Korea, the police arrested 25 suspected traders who ran an illegal international BTC trading ring, and tax authorities seized over $186 million from crypto from tax-evading individuals since 2021.

Ripple said XRP cannot be considered a security as there is no “investment contract” that would grant rights to investors, but both Ripple and its opponent SEC asked for a swift judgment in the agency’s case against the company. Meanwhile, a US District Court judge ordered Tether to provide financial records for USDT. Brazil’s markets regulator says it wants “transparency” in crypto and claims it is preparing a set of industry guidelines, the US Treasury is seeking public opinion on the “responsible development of digital assets”, and Jamie Dimon attacked crypto tokens as ‘decentralized Ponzi scheme’ but he’s happy with regulated stablecoins.

Let’s laugh at some jokes now.

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GM, CT! What’s up?