Do Kwon arrested in Montenegro
The Minister of the Interior of Montenegro announced on Twitter that the founder of Terraform Labs, Do Kwon, has been arrested. According to his post, Kwon was detained at the Podgorica airport with false documents. The United States, Singapore and South Korea are already demanding his extradition. Do Kwon is known for being the founder of the UST algorithmic stablecoin and the LUNA cryptocurrency. As a result, the projects collapsed, investors lost about $42 billion, a number of countries launched an investigation, and Kwon was put on the international wanted list. According to media reports, Do Kwon has spent the past few months in Serbia, which borders Montenegro.
Arbitrum entered the top 40 cryptocurrencies by market capitalization
This week, Arbitrum made it to the top 40 cryptocurrencies by market capitalization. This happened after an airdrop, during which the project shared 10% of the total coin supply among users of the L2 blockchain. At the beginning of trading, the quotes of the token briefly rose to $10. The beginning of the airdrop was not the most successful. Due to the large number of people wishing to take part, the Arbitrum Foundation site could not cope with the load and went offline, and then the network explorer became temporarily unavailable. Now the project is already operating in a standard mode.
One of the Avalanche blockchains (C-chain) is temporarily down
On Thursday, the X-Chain and C-Chain networks experienced short-term failures as a result of which the network bandwidth dropped. The crashes were due to bugs in the new software. Avalanche is a decentralized platform for DeFi applications and has its own AVAX token, and also uses three blockchains: C-chain, X-chain and P-chain. C-chain hosts smart contracts, X-chain is used to exchange and send funds, P-chain acts as a validator.
SEC sues Justin Sun
The SEC is suing Justin Sun on charges of selling and giving away unregistered securities, fraud, and market manipulation. The lawsuit names the Tron Foundation, BitTorrent Foundation and BitTorrent (now known as Rainberry) over the sale of tronix (TRX) and bitTorrent (BTT) tokens. The regulator called cryptocurrencies securities and accused them of manipulating the market through extensive fictitious trading.
The SEC alleges that Justin Sun attempted to artificially inflate TRX trading volume by forcing his employees to engage in more than 600,000 fictitious TRX trades between two crypto asset trading platform accounts he controlled. Due to such accusations, the price of tokens fell.
Users lost more than $1 billion in Ethereum due to errors
Coinbase Director Conor Grogan calculated that as a result of bugs in the Ethereum network and human errors, a total of 636,000 ETH worth ~$1.15 billion was irretrievably lost. This is 0.5% of the Ethereum supply. Approximately 306,000 ETH was lost due to the Parity vulnerability, 60,000 ETH was lost by the Quadriga crypto exchange, and 24,000 ETH was sent to the burn address. The remaining losses are related to typos and contract bugs.
Greenpeace demands to change the BTC code
The international environmental organization Greenpeace once again criticized the first cryptocurrency. Greenpeace has made a new mascot to showcase the dangerous amounts of pollution from Bitcoin mining. According to the organization, mining poses a serious danger to the environment. Greenpeace is fighting for the phase-out of fossil fuels, and Bitcoin, in their opinion, is an obstacle. Environmentalists call for changing the code, not the climate.
The fear and greed index reached 68
The fear and greed index reached 68. Such a high value was last reached in November 2021, at that time the BTC price rose to $61,000. The Fear and Greed Index is a tool that tries to measure how emotional investors are about the stock market.
The fear and greed index can help investors understand what emotions are prevailing in the market at a given time. If the index is at high levels, this may indicate that investors are oversaturated with optimism and greed, which could lead to a price correction in the near future. If the index is at low levels, this may indicate that investors are oversaturated with fear and panic, which can create opportunities for buying shares.
The Fear and Greed Index is not a complete indicator that can predict future market movement. It only shows how investors are emotionally at a given moment in time and can help in deciding when to buy and sell stocks.
Elon Musk popularized DOGE again
Elon Musk again promotes DOGE. On Twitter, he wrote that he would allow you to visit the headquarters of Twitter for 3 DOGE.