- U.S. Will Appeal Do Kwon’s Extradition to South Korea: Report
The U.S. will appeal the ruling of a Montenegro Court to hand Terraform Labs co-founder Do Kwon to South Korea, according to Bloomberg.
On Thursday, Kwon’s attorney, Goran Rodic, told CoinDesk via text that a Montenegro court had ruled to extradite him to South Korea after March 23 without indicating whether he would be appealing.
“The United States continues to seek Kwon’s extradition in accordance with relevant international and bilateral agreements and Montenegrin law,” the Justice Department said in a statement Thursday, Bloomberg reported. “The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law.”
- AI crypto tokens’ value may be ‘overstated,’ Coinbase Institutional report claims
Coinbase Institutional has adopted a bearish and contrarian stance on artificial intelligence tokens in the crypto industry, asserting that “the value potential for many AI tokens may be overstated.”
The statements came via a market intelligence report written by research analyst David Han and published earlier this week titled “Crypto’s AI Mirage” — where it is concluded that “many AI tokens may lack sustainable demand side drivers in the short to medium term.”
In the report, Han noted that Coinbase Institutional believes “some of the emerging trends in the AI sector could actually make it more difficult for crypto-based innovations to gain adoption in light of broader market competition and regulators.”.
https://www.theblock.co/post/281283/ai-crypto-tokens-value-overstated-coinbase-institutional
- Meme Coin Floki 69th Largest Asset With 38% Gain
March meme madness rages on as Floki Inu (FLOKI), Dogwifhat (WIF), and PepeCoin (PEPE) have all posted double-digit gains in the past day.
Altogether the three meme coins have seen $2.8 billion worth of volume in the past 24 hours, according to CoinGecko data.
Shiba Inu dog-themed Ethereum token Floki Inu catapulted itself into the very meme 69th largest digital asset by market capitalization—up from 75th largest as of Monday, according to CoinGecko data.
https://decrypt.co/220719/meme-coin-floki-69th-largest-asset
- Nigerian central bank hires Gluwa to advance eNaira through credit profiles
he Central Bank of Nigeria (CBN) has complete a memorandum of understanding with Gluwa Nigeria to promote the usage of the eNaira central bank digital currency (CBDC). Gluwa is a blockchain-based financial platform that has been active in Nigeria for several years.
As an agent partner of the CBN, Gluwa will integrate its Credal technology into the eNaira platform, according to a statement sent to Cointelegraph. It plans to enable the creation of “credit reputations” for unbanked users, thus furthering financial inclusion. The credit profiles it will create will be “accessible across borders” and increase the CBDC’s effectiveness:
“The integration of Credal is anticipated to streamline loan origination, management, settlement, and credit assessment processes for local fintech lenders.”
https://cointelegraph.com/news/nigerian-central-bank-hires-gluwa-enaira-credit-profiles
- SEC Chair Gensler Cautions About Crypto Investing — Warns ‘Thousands’ of Crypto Tokens May Be Securities
Gensler was asked about the classification of ether (ETH) as either a security or a commodity, as well as the possibility of the SEC approving a spot ethereum exchange-traded fund (ETF). “Any one of these crypto tokens is about the facts and circumstances as to whether the investing public is anticipating a profit based on the efforts of others,” the SEC chief replied. “But we do have [ETH ETF] fillings in front of us. I’m not going to comment.” He elaborated:
This is a highly speculative asset class. One could just look at the volatility of bitcoin in the last few days … You really should be conscious as the investing public that this is a bit of a roller coaster ride on these volatile assets.
- Shiba Inu Experiences 250% Price Surge, Market Cap Exceeds $25 Billion
According to CryptoPotato, Shiba Inu (SHIB) has experienced a significant 250% price surge over two weeks, with its market cap surpassing $25 billion. This increase is driven by more activity and interest in its ecosystem, including developments such as an increase in token burning and the growth of Shibarium. Shiba Inu, the second-largest meme coin, has been trending recently due to its exponential price increase.
Important indicators related to SHIB’s ecosystem have also increased. Daily active addresses have soared since the beginning of March, significantly exceeding the figures observed in February. At one point this week, the metric peaked at 21,000, nearly 20 times above last month’s daily average.
- Optimism Sells $89M OP Tokens in Private Transaction
Optimism Foundation said on Friday that it had entered into a private token sale of approximately 19.5 million OP tokens, worth nearly $90 million at current prices, to an undisclosed buyer.
The foundation is one of the maintainers and developers of the Optimism network, a blockchain that runs and settles transactions on Ethereum.
The sold tokens are subject to a two-year lockup. However, the buyer can delegate the tokens to unaffiliated third parties for participation in governance decisions, giving the same benefits as an unvested holder.
https://www.coindesk.com/business/2024/03/08/optimism-sells-89m-op-tokens-in-private-transaction/
- Bitcoin Startup Oyl Raises $3 Million to Power In-Wallet Ordinals Swaps
Bitcoin Ordinals inscriptions are fast becoming the top digital collectible in the crypto market, and developers are looking for ways to make buying and trading them as simple as possible. One company on the case: Oyl, creator of an eponymous browser-based wallet that allows in-wallet swaps of inscriptions.
Backed by former CEO of BitMEX Arthur Hayes’ Maelstrom Fund and pseudonymous BRC-20 creator Domo, Oyl announced a $3 million pre-seed round on Thursday.
https://decrypt.co/220539/bitcoin-ordinals-oyl-wallet-raises-3-million
- Metaverses could be a hub for distributing copyrighted work illegally — UK researchers
Researchers in the United Kingdom have studied the viability of current intellectual property (IP) laws and their application to new technologies like the metaverse. In the study, the researchers identified the shortcomings of existing laws and presented their recommendations.
On March 7, the U.K. government published an externally commissioned research report titled “IP and Metaverse.” The report dove into the existing literature on IP laws and how they can apply to the metaverse. Within the study, the researchers concluded that there are metaverse-specific IP issues, such as IP governance in an interoperable environment and regulating technologies like the blockchain and artificial intelligence (AI) within virtual worlds.
https://cointelegraph.com/news/metaverse-intellectual-property-challenges-uk-researchers
- Shiba Inu Experiences 250% Price Surge, Market Cap Exceeds $25 Billion
According to CryptoPotato, Shiba Inu (SHIB) has experienced a significant 250% price surge over two weeks, with its market cap surpassing $25 billion. This increase is driven by more activity and interest in its ecosystem, including developments such as an increase in token burning and the growth of Shibarium. Shiba Inu, the second-largest meme coin, has been trending recently due to its exponential price increase.
Important indicators related to SHIB’s ecosystem have also increased. Daily active addresses have soared since the beginning of March, significantly exceeding the figures observed in February. At one point this week, the metric peaked at 21,000, nearly 20 times above last month’s daily avera
