What happened in the crypto industry over the past day? Read U.Today’s news digest to find out!
Don’t miss anything in the world of crypto with U.Today’s top four crypto news stories over the past day.
Arrest warrant issued against Terra’s Do Kwon
As reported by Bloomberg, a Seoul court has issued an arrest warrant against Terra founder Do Kwon as he was accused of violating capital market rules. Apart from Kwon, five other individuals are about to be brought to justice as well. The warrant followed after several Terraform Labs employees were prohibited from leaving South Korea in June amid an investigation into the implosion of the Terra project. In July, investigators also raided local cryptocurrency exchanges as part of the probe. At the moment, all six individuals are located in Singapore. According to South Korean newspaper Chosun Ilbo, local prosecutors plan to work with Interpol in order to carry out these arrests within a year.
Cardano founder says Ethereum’s Vitalik Buterin will never follow him
With an influx of spam bots impersonating various crypto influencers, developers and CEOs on Twitter, more and more bellwethers of the industry took notice of the issue, and Charles Hoskinson is no exception. In a recent tweet, Cardano founder shared a screenshot showing a notification about a fake Vitalik Buterin now following him on Twitter. Hoskinson reacted with a laugh-it-off attitude, saying that the real Buterin will never become his follower. The reason behind it is a history of feuding between the founders of the two biggest blockchains. Being once a part of Ethereum’s team, Hoskinson could not agree with Buterin on the structure of the project. Buterin wanted Ethereum to be a nonprofit entity, while Hoskinson saw it as a for-profit organization. Later, Hoskinson left the project after having a falling-out with the other-co-founders.
SHIB is one of most viewed assets worldwide on major crypto data portal
Data provided by CoinMarketCap’s market analysis shows that in August, Shiba Inu has become one of the most viewed crypto assets for users on all continents of the world (except Antarctica!). The conclusion is based on the number of views of the Shiba Inu page directly on CoinMarketCap. The Dogecoin competitor is the third most popular cryptocurrency across North America, South America, Asia and Africa, trailing only market leaders like Bitcoin and Ethereum. In Oceania and Europe, Shiba Inu gives way to Terra Classic too, which is probably due to the pump of LUNC quotes in the last weeks of August. The study also notes that Shiba Inu remains one of the most watched coins regardless of crypto market conditions in July and August. The cause of undying interest in SHIB is its team working on a number of projects that should take the ecosystem to a whole new level.
LUNC 31% pump confuses investors as token will most likely take another hit
According to Twitter user “Light,” one of the most successful prop traders, the Luna Classic team is working against its supporters, and the latest pump confirms it. While every large tech stock on the NASDAQ closed the day in the red due to the market turmoil caused by high inflation data revealed in the recent CPI report, LUNC ignored the correction. Instead, the asset spiked by more than 30% in 24 hours, making investors feel safe and confident in the fundamental strength of the project. However, there’s a catch. Light claims that the LUNC team chose a common and efficient advertising strategy: add liquidity and funding to the asset to push its price higher than the market. The day after the pump, LUNC lost more than 25% of its value, making the 30% rally unproductive.