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

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The biggest news in the cryp­tos­phere for Sept. 26 includes Interpol’s red war­rant request­ing 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 Merge.

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Interpol issues worldwide arrest warrant for Do Kwon

After releas­ing an arrest war­rant for Ter­raform Labs founder Do Kwon, South Korea asked for Interpol’s aid in look­ing for Kwon on Sept. 19.

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

Terra founder Do Kwon claims he is ‘making zero efforts to hide’

Fol­low­ing the news of Inter­pol issu­ing a red war­rant, Do Kwon tweet­ed that he is mak­ing “zero efforts to hide” and that he “go(es) on walks and malls, no way none of CT hasn’t run into me the past cou­ple weeks.”

Miners flee PoW tokens as token prices tank, GPU value flounders

Cryp­to min­ers who ini­tial­ly flocked to GPU-com­pat­i­ble PoW tokens after the Ethereum Merge are leav­ing those net­works after the val­ue of their tokens fell and as the val­ue of GPUs dropped by up to 40% in Chi­na since the merge.

Ethereum community split over reversible transactions proposal

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

A sig­nif­i­cant aspect of cryp­tocur­ren­cy is trans­ac­tion irre­versibil­i­ty. While pro­po­nents of reversible trans­ac­tions point to improved safe­ty, detrac­tors argue that, under this pro­pos­al, Ethereum reflects the bank­ing sys­tem it claims to oppose.

ATOM 2.0 whitepaper to be revealed during Cosmoverse, token up 25% in September

Cosmos’s native token ATOM’s upgrade details will be launched on Sept. 26, dur­ing the first day of the Cos­mo­verse in Medellin. The details will be revealed in Cos­mos co-founder Som­me­li­er Zaki Manian’s keynote speech titled “$1K ATOM LFG” and a pan­el dis­cus­sion on ATOM 2.0.

Komodo’s AtomicDEX bridge will now connect Cosmos to hundreds of blockchains

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

China arrests 93 people suspected of laundering 40B RMB via crypto

Chi­nese author­i­ties detained 93 peo­ple for alleged­ly being involved in a mon­ey laun­der­ing oper­a­tion. Accord­ing to local news sources, a group of crim­i­nals attempt­ed to laun­der 40 bil­lion RMB using cryp­tocur­ren­cies. Author­i­ties were able to seize 300 mil­lion RMB and 100 mobile phones from the cap­tured subjects.Wrapped

Australian central bank issues whitepaper for the pilot of permissioned CBDC, eAUD

The Reserve Bank of Aus­tralia (RBA) pub­lished a whitepa­per announc­ing the pilot pro­gram for its Cen­tral Bank Dig­i­tal Cur­ren­cy (CBDC) eAUD on Sept. 26. The whitepa­per was co-pub­lished with the Dig­i­tal Finance Coop­er­a­tive Research Cen­tre (DFCRC).

The eAUD will work on a pri­vate, per­mis­sioned ver­sion of the Ethereum (ETH) blockchain both dur­ing its pilot peri­od and after it launches.

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

Car­dano (ADA) founder Charles Hoskin­son got into a quar­rel on Twit­ter with the Ethereum developers.

The feud start­ed after Hoskin­son crit­i­cized the Ethereum devel­op­ers for ignor­ing Ouroboros for the last five years. He claimed that the devel­op­ers were stuck on tech­nol­o­gy from 2014. In response, Ethereum devel­op­er Hud­son Jame­son spoke for the Ethereum devel­op­ers com­mu­ni­ty and said they wouldn’t look at Car­dano because of Hoskinson’s attitude.

Former IMF official believes CBDCs need to function offline to gain mass adoption

A for­mer IMF offi­cial John Kiff pub­lished a blog post explain­ing why he thinks Cen­tral Bank Dig­i­tal Cur­ren­cies (CBDC) can pro­mote glob­al finan­cial inclusion.

Kiff was respon­si­ble for fin­tech and dig­i­tal cur­ren­cies dur­ing his posi­tion at the IMF. He likens the CBD­Cs to Avant cards of the 90s and deb­it cards of the 2000s in terms of util­i­ty and expan­sion poten­tial. Adding that both ini­tia­tives both became wide­ly pop­u­lar and increased finan­cial inclu­sion in the past, he says that CBD­Cs car­ry the poten­tial to be the next big thing in the finance sector.

Osmosis co-founder reveals cross staking through mesh security in chainmail armor at Cosmoverse

Osmo­sis founder Sun­ny Aggar­w­al took to the Comos­verse stage to speak about mesh secu­ri­ty sys­tems and opened his talk in a 40lb suit of chain­mail armor.

Research Highlight

Research: How low can Bitcoin price go?

ı ana­lysts tried to answer one of the most crit­i­cal ques­tions of today’s mar­ket: how low can Bit­coin (BTC) go? To find an 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, sug­gest­ing a mar­ket bot­tom. How­ev­er, this has been the case since the begin­ning of the bear mar­ket. In pre­vi­ous bear mar­kets in 2020, 2019, 2014, and 2011, the MVRV Z‑Score remained in today’s range between 20 and 300 days, sug­gest­ing that Bitcoin’s price can stay the same for six more months.

With that being said, Bit­coin can still drop low­er in the future. The clos­est sup­port lev­el is $17,500, and falling below that would indi­cate that this bear mar­ket is none like the pre­vi­ous ones.

Crypto Market

Bit­coin (BTC)increased by 1.2% in the last 24 hours to be trad­ed at $19,172. Ethereum also increased by 2.61%, reach­ing $1,331.

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