Prison Sentence in Montenegro Do Kwon, co-founder of Terraform Labs, was arrested in Montenegro in March 2023 for using a fake passport. He was sentenced to four months in prison, which he has now served. Release and Restricted Movement Kwon is scheduled to be released on March 23, 2024. However, he will not be allowed…
Limited Supply and Demand Bitcoin’s unique feature is its limited supply, unlike any other currency. New Bitcoins are created every 10 minutes, but the issuance rate is reduced by 50% every four years in a “halving” event. This programmed scarcity creates a supply-and-demand imbalance. As more people adopt Bitcoin, demand increases. However, the supply is…
An Atlanta woman is facing financial hardship after a major bank suddenly froze her account and refused to release her funds. Account Locked Without Warning Shelley Camp says Green Dot Bank locked her account without warning, citing “unusual activity.” The bank’s decision left her stranded with no access to her money. Forced to Rely on…
Supreme Court Decision The Supreme Court of Montenegro has overturned a previous ruling that approved the extradition of Terra founder Do Kwon to South Korea. The court found that lower courts had not followed proper procedures in their initial approval of the extradition. Procedural Violations The Supreme Court stated that the Court of Appeal had…
Surge in Token Value Polymesh (POLYX), a crypto project focused on real-world asset tokenization, has seen its native token surge 69% in the past week. The token is currently trading at $0.415, up from $0.245 last week. New Private Blockchain The surge comes amidst the rollout of Polymesh Private, a confidential version of the project’s…
Surge in Meme Coins Solana has seen a surge in meme coins, with tokens like Bonk Inu (BONK) and Dogfight (WIF) showing impressive growth. However, this popularity has come with some challenges. Challenges Faced by Meme Coin Ecosystem Failed Transactions:The influx of bots has led to a high number of failed transactions, reaching 72%. While…
Security Breach Summary On March 19, Trezor’s Twitter account was hacked and used to promote a fake cryptocurrency presale. The hacker posted a link to a website that stole users’ funds. Trezor’s Response Trezor regained control of the account and published a preliminary report addressing concerns. They emphasized that the breach was not due to…
Trust Company Charter Approval WisdomTree, known for its Bitcoin ETF, has received a trust company charter from the New York State Department of Financial Services (NYDFS). This allows WisdomTree to operate as a trust company in New York, paving the way for its crypto app launch. Fiduciary Custody and Stablecoins With this charter, WisdomTree can…
Price Performance In 2024, Shiba Inu has been outperforming Dogecoin. Since the start of the year, SHIB has surged over 150%, while DOGE has gained around 100%. However, Dogecoin has shown more stability during downtrends, with a smaller decline from its March highs. Volatility Shiba Inu is more volatile than Dogecoin. Its price can move…
A bill is making its way through the Minnesota legislature that would provide $200 million in guaranteed income to eligible residents. Program Details If passed, the program would allocate $100 million this year and another $100 million in 2025. Households living at or below 300% of the federal poverty level would be eligible to apply….
