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LUNA’s Do Kwon says he is not in hiding after Interpol issues red warrant; Miners abandoning POW tokens

CryptoSlate Wrapped Daily: LUNA’s Do Kwon says he is not in hiding after Interpol issues red warrant; Miners abandoning POW tokens

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Big news in the cryptosphere on September 23rd is an Interpol Red Order calling for law enforcement worldwide to locate and arrest Do Kwon, news of the upcoming ATOM 2.0 update, and crypto miners leaving PoW tokens after the Ethereum merger.

CryptoSlate top stories

Interpol has issued a worldwide arrest warrant for Do Kwon

After releasing an arrest warrant for Terraform Labs founder Do Kwon, South Korea requested Interpol’s help in finding Kwon on September 19.

Responding to Korea’s request, Interpol issued a red notice for Kwon on September 26, mandating law enforcement agencies worldwide to locate and arrest him.

Terra founder Do Kwon claims he “makes zero effort to hide”

Following the news of Interpol’s red warrant, Do Kwon tweeted that he makes “zero effort to hide” and that he “walks and malls. No CT has ever run into me in the last couple of weeks.”

Miners Flee PoW Tokens Token Prices Tank, GPU Value Declines

Cryptominers who initially rushed to use GPU-enabled PoW tokens after the Ethereum merger are leaving these networks after the value of their tokens has fallen and GPUs have fallen as much as 40% in China since the merger.

A split in the Ethereum community over the proposal of reversible transactions

The Ethereum community has expressed widely differing opinions on whether implementing reversible transactions is a step forward.

An important part of cryptocurrencies is the irreversibility of transactions. While proponents of reversible transactions point to improved security, opponents argue that under this proposal, Ethereum mirrors the banking system it claims to oppose.

ATOM 2.0 magazine announced during Cosmoverse, 25% increase in September

Update information for ATOM, the original token of Cosmos, will be released on the 26th. September, the first day of the Cosmoverse event in Medellin. Details will be revealed in Cosmos founder Sommelier Zaki Manian’s keynote “$1K ATOM LFG” and panel discussion on ATOM 2.0.

Komodo’s AtomicDEX bridge now connects Cosmos to hundreds of blockchains

The integration of Komodo (KMD) with Cosmos on AtomicDEX was completed on September 26th. The integration leverages AtomicDEX’s cross-chain protocol, non-custodial wallet and DEX to connect the Cosmos ecosystem to other blockchains.

China arrested 93 people suspected of laundering 40 billion RMB through crypto

Chinese authorities arrested 93 people suspected of participating in a money laundering operation. According to local news sources, a group of criminals tried to launder 40 billion RMB in cryptocurrencies. Authorities were able to seize 300 million RMB and 100 cell phones from the captured subjects.

Reserve Bank of Australia publishes white paper for pilot of licensed CBDC, eAUD

On September 26, the Reserve Bank of Australia (RBA) released a statement announcing a pilot program for its Central Bank Digital Currency (CBDC) eAUD. The study was published in collaboration with the Digital Finance Cooperative Research Center (DFCRC).

eAUD runs on a private, pledged version of the Ethereum (ETH) blockchain both during the pilot period and after its launch.

Ethereum developers and Cardano founder Charles Hoskinson get into a Twitter feud

Cardano (ADA) founder Charles Hoskinson got into a Twitter feud with Ethereum developers.

The controversy began after Hoskinson criticized Ethereum developers for ignoring Ouroboros for the past five years. He claimed that developers were stuck with the technology since 2014. In response, Ethereum developer Hudson Jameson spoke on behalf of the Ethereum developer community and said that they would not look at Cardano because of Hoskinson’s attitude.

Former IMF official believes CBDCs need to go offline to achieve mass adoption

Former IMF official John Kiff published a blog post explaining why he believes Central Bank Digital Currencies (CBDCs) can promote global financial inclusion.

Kiff was responsible for fintech and digital currencies while working at the IMF. He compares CBDC cards to Avant cards of the 90s and bank cards of the 21st century in terms of utility and expansion potential. Adding that both initiatives became widely popular and boosted financial inclusion in the past, he says CBDCs have the potential to be the next big thing in finance.

Osmosis founder reveals cross-investment in Cosmoverse chainmail armor network

Osmosis founder Sunny Aggarwal took to the Comosverse stage to talk about online security systems and opened his speech wearing a 40 pound chain mail suit of armor.

Research highlight

Research: How Low Can Bitcoin Price Go?

analysts tried to answer one of the most critical questions in the market today: how low can Bitcoin (BTC) go? To find the answer, analysts looked at the MVRV Z-score, which is a combination of market value (MV), realized value (RV) and Z-score.

MVRV Bitcoin Chart
MVRV Bitcoin Chart

The MVRV Z-Score is currently in the green zone, indicating a market bottom. However, this has been the case since the beginning of the bear market. During the previous bear markets of 2020, 2019, 2014 and 2011, the MVRV Z-Score remained in today’s range between 20 and 300 days, suggesting that the price of Bitcoin may remain the same for another six months.

Thus, Bitcoin may continue to go lower in the future. The nearest support level is $17,500, and a break below it would indicate that this bear market is not like previous ones.

Crypto Market

Bitcoin (BTC) gained 1.2% in the last 24 hours to $19,172. Ethereum also rose 2.61% to $1,331.

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