The biggest news in the crypto industry on Oct. 6 included the arrest and release of De Kwon’s aide, EU crypto sanctions against Russia, and 0.03 bitcoins distributed by Michael Thaler to three winners via the Lightning Network. increase.
CryptoSlate Top Stories
South Korea strengthens Dokwon’s circle, arrests aide
Terraform Labs founder Do Kwon’s aide Yoo Mo became the first person arrested in the ongoing Terra-Luna investigation. Mo, who is the general manager of Terraform Labs, was arrested on October 6, the day after South Korean authorities issued an arrest warrant for him on October 5.
Meanwhile, South Korea issued another warrant to Kwon, requiring him to turn in his passport within 14 days. Otherwise, his passport will be invalidated by the authorities.
South Korean court rejects arrest warrant for Do Kwon’s aide
About 12 hours after Mo’s arrest, a local news source reported that the South Korean District Court had dismissed an arrest warrant against Mo.
However, Judge Jin-Pyo, who ruled, argued that LUNA was not classified as a security and that Mo may not have violated capital market laws.
EU further narrows Russian options with crypto sanctions
The European Union (EU) has announced a new set of sanctions banning all cryptocurrency wallets, accounts or custody services belonging to Russian users.
Under previous sanctions, the above services were allowed to operate if they held less than €10,000 in funds.
Sailor Gives Out BTC Via Lightning Network
Michael Saylor used the Lightning Network to send 0.03 Bitcoins (BTC) to three winners of the Lightning Meme Contest.
— Michael Saylor ⚡️ (@saylor) October 4, 2022
Ethereum Active Users Grow 36% in Q3 Despite Bear Market
Ethereum (ETH) added over 4.5 million new active users in the third quarter of 2022, as data from Dune Analytics shows. This increase equates to his 36% increase in the active user base.
Ethereum active users have been steadily declining since Q4 2022. Some analysts argue that his sudden increase may indicate that the crypto market is returning to positive trends.
Decentraland has a $1 billion market cap but only 30 daily active users – DappRadar data
Despite Decentraland’s $1.2 billion valuation, it only has 30 daily active users, according to DappRadar data.
Decentraland’s native token, MANA, has a daily trading volume of $121 million and a market capitalization of $1.31 billion.
Ripple Blames SEC In Opposing Amicus Brief, XRP Rises 3.6%
The Securities and Exchange Commission (SEC) has been publicly criticized by Ripple for its opposition to the Amicus briefs filed by I-Remit and TapJets. “Slam” was made public on Twitter by defense attorney James Filan.
Following this, Ripple’s native token XRP posted a 3.6% gain over the past 24 hours.
Marathon Digital invested over $30 million in bankrupt Compute North
Bitcoin mining company Marathon Digital has revealed its investment. The company said he invested $10 million in convertible preferred stock in Compute North and another $21.3 million in unsecured senior promissory notes.
The announcement also revealed that Marathon holds 10,670 bitcoins. This equates to approximately $207.3 million at current prices.
Tuttle Capital Submits Inverse ETF To Trade Against Jim Cramer’s Recommendations
Tuttle Capital has applied for two ETFs to invest in the opposite position of stocks recommended by Mad Money host Jim Cramer.
Jim Cramer was known for his conflicting investment strategies and often proved him wrong in cryptocurrencies. The most recent example occurred in July when Kramer said he had sold all of his bitcoin after its market cap fell below $1 trillion. He said Bitcoin has no real value. Bitcoin surged in response, with him up 17% at the end of the month.
Despite Tornado Cash debacle, Bitcoin SV launches ‘Blacklist Manager’ tool
Bitcoin SV (BSV) has launched a new tool called “Blacklist Manager” that allows miners to freeze their tokens.
Sanctions have been a hot topic after OFAC bans Tornado Cash, but Bitcoin SV said Blacklish Manager could be used to freeze lost or stolen tokens or “follow court orders.” I claim that I can.
Calls Growing for Louisiana to Buy Bitcoin After BlackRock Sale
The State of Louisiana has announced that it will withdraw approximately $794 million from BlackRock related to environmental, social and governance (ESG) principles. Following the announcement, Bitcoin maximalists called on the Treasury to buy Bitcoin.
Celebrities also joined the pressure. Scott A. Wolfe, leader of the Association of Canadian Community Health Centers, tweeted his endorsement, stating:
“Put that 1-5% in Bitcoin for the people of Louisiana and future generations!“
SEC staff reportedly frustrated with Gensler over Kim Kardashian’s publicity stunt
SEC enforcement staff are reportedly uncomfortable with the media attention drawn to Kim Kardashian’s fine by Chairman Gary Gensler.
SEC staff said Gensler violated the protocol with “publicity” about the situation.
Study: Historically bullish Q4 may ease pain after September catastrophe
Crypto history has shown that the September mass carnage is a recurring theme in crypto markets, with hailing surges continuing during the fourth quarter.
September 2022 was a particularly bloody year for Bitcoin. For the first time since 2016, we failed to finish the month in green.
However, October shows signs of history repeating itself, with the cryptocurrency market trending upwards throughout the fourth quarter following a bloody September.
Bitcoin’s monthly average ended October at 26.39%, making it the second best month in Bitcoin’s history.
News around Cryptoverse
South Korean watchdog reiterates support for crypto protection
The chairman of South Korea’s Financial Services Commission (FSC) made a public address on Oct. 6, reiterating the agency’s support for blockchain technology and user protection, according to the report. Yahoo Finance.
Bitcoin (BTC) fell 0.59% to $20,035 over the past 24 hours, while Ethereum (ETH) rose 0.56% to trade at $1,358.