🦎🚀 Do Kwon detained! 🏃‍♂️

Friday, March 24, 2023

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Guess who they just found, Geckos?

The CEO of Terraform Labs, Do Kwon, has reportedly been arrested in Montenegro, and prosecutors from the US are already pressing charges.

Montenegrin authorities had detained Do Kwon along with his business partner after the former had tried to leave the country for Dubai using forged Costa Rican documents.

According to a recent court filing, the enigmatic founder of the Terra network has been charged with commodities fraud, securities fraud, and wire fraud, among other offenses.

In today's news, an old fashion brand makes its way to the metaverse, FTX returns its stake to Mysten Labs, and Quasar is ready to devour DeFi.

Read on!

Where People Store Their Crypto, Post-FTX

Cold wallets might be the safest way to store crypto, but only 3 in 10 people use them, according to a recent survey.

That said, self-custody is seeing meaningful practice, with 8 in 10 people using hot wallets for crypto storage, although 7 in 10 still keep their funds on CEXs.

Read more: https://gcko.io/6khjtfe

24h Hot Searches Worldwide

Arbitrum (-70.1%)
ZigZag (+40.2%)
SPACE ID (-2.1%)
Optimism (-5.8%)
Radiant Capital (-13.6%)
tomiNet (+8.7%)
Camelot Token (-21.0%)

What ACTUALLY is 'Real Yield' in DeFi, and how is it different from previous yields?

👨‍🌾 In today's video, we break it down and take a closer look at some of the protocols where it's being offered.

Tap here to watch!

Aeropostale Avatars

Fashion brand Aeropostale may be looking to make its comeback through the Metaverse by launching its very own NFTs.

In collaboration with MetaversePlus, the brand has launched Aeropax, featuring a collection of 30,000 unique NFT avatars.

The NFTs themselves come with several benefits for holders, such as exclusive clothes and promotions.

The Block

$102M Out, $96M In

Mysten Labs, the startup behind the Sui network and its programming language, Move, has offered to repurchase its shares from the defunct exchange FTX.

The offer will see Mysten Labs reacquiring FTX's stake for $95M and $1M worth of token warrants on the Sui network's native token.

Should the deal be conducted successfully, FTX will take a $6M loss on their original $102M investment in the project.

Decrypt

Quasar is Live

DeFi asset management platform Quasar Finance has launched its mainnet today on the Cosmos ecosystem.

The protocol will make use of Cosmos's Inter-Blockchain Communication (IBC) protocol to allow users to manage their assets across different networks simultaneously.

Earlier this year, Quasar had raised $5.4M at a $70M valuation from prominent investors such as Shima Capital, Polychain Capital, and Hash Capital.

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