Curious about the latest developments in the crypto industry? From the ongoing legal saga of a crypto exchange co-founder to significant partnerships and regulatory approvals, let’s delve into the most recent happenings.
The Legal Predicament of Terra Co-founder Do Kwon
Despite finishing his current prison term, Do Kwon, co-founder of the Terra cryptocurrency exchange, will continue to be held in Montenegrin custody until February. Kwon is facing extradition to either the U.S. or South Korea due to his alleged involvement in the collapse of the exchange in May 2022. The former TerraForm Labs CEO is up against eight criminal charges in the U.S, encompassing commodities fraud, securities fraud, wire fraud, and conspiracy to defraud and engage in market manipulation. The SEC has also filed a separate indictment against him. While he is also wanted in South Korea for related charges, it is reported that he will first face the U.S. justice system.
WOO X Teams Up with Wintermute for Enhanced Liquidity
In a strategic move, crypto platform WOO X has joined forces with Wintermute, a prominent crypto market maker and liquidity provider. With over $3.6 trillion in cumulative trading volume, Wintermute will serve as the designated liquidity provider for WOO X. This latest collaboration is part of a transparent effort to bring on board top-tier liquidity providers. Wintermute, which operates from London and Singapore, is among several market makers working with WOO X. Other liquidity providers like Selini Capital and Black Code Group also back WOO X. Jack Tan, WOO X CEO, lauds the partnership, acknowledging Wintermute’s strong track record and reputation in the crypto industry. He believes that this collaboration will not only enhance liquidity but also increase WOO X’s credibility among institutional circles.
Green Light for El Salvador’s Bitcoin Bonds
El Salvador’s much-awaited Bitcoin bonds, also known as “Volcano Bonds”, have reportedly received regulatory approval for a launch in early 2024. The Digital Assets Commission of El Salvador has given the green light to the Volcano Bond, which is set to pay down sovereign debt and fund the construction of the proposed “Bitcoin City.” The bond, issued on the Bitfinex Securities Platform registered in El Salvador, signifies the commencement of Bitcoin-based capital markets in the country. The bonds, which have a ten-year term, promise a 6.5% annual return to holders.
As we continue to monitor these developments, it’s worth noting that the crypto industry is not just about trading and investment. It’s also about using platforms like cryptoview.io to keep track of your crypto portfolio and stay updated with market trends.
Explore cryptoview.io nowPlease note that investing and trading in cryptocurrencies involve risk. Always conduct thorough research before making any financial decisions.
