The biggest news in the cryptoverse on November 3rd included private conversations obtained by South Korea proving that Kwon deliberately manipulated the price of LUNA, and the disclosure of China’s $6 billion worth of cryptocurrency reserves. , including Stripe’s 14% reduction decision.
CryptoSlate Top Stories
South Korean officials reportedly have evidence of Kwon’s LUNA price manipulation
South Korean prosecutors have seized private conversations between Terraform Labs founder Do Kwon and one of his employees, and Kwon ordered him to manipulate the market price of Terra (LUNA) I was.
Prosecutors also discovered that Kwon is now living somewhere in Europe. Kwon is now living in Europe illegally after the South Korean government suspended his passport at the end of October.
China Holds $3.9 Billion Worth of Bitcoin Despite Anti-Crypto Stance
CryptoQuant co-founder Ki Young has revealed that China holds $6 billion worth of cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). This is especially interesting as China is known for its anti-crypto stance.
Breaking the news through his personal Twitter account, Young revealed that China seized 194,000 Bitcoin, 833,000 Ethereum, and more in the 2019 PlusToken scam and has held them ever since.
Stripe lays off 14% of employees to cut costs amid recession
The CEO of payment processor Stripe sent an email to all employees on November 3, announcing that the company had laid off 14% of its workforce, or more than 1,100 employees.
The email said:
“We were too optimistic about the near-term growth of the internet economy in 2022 and 2023 and underestimated both the potential and impact of a broader slowdown.”
Phantom surges 24% on André Cronnier return rumors
iEarn Finance founder and architect Andre Cronje posted a meme on his official Twitter and Linkedin accounts on Nov.
—iamDefinitivelyandre.ftm (@AndreCronjeTech) November 3, 2022
This meme led to rumors that he was returning to the cryptocurrency industry. Cronje neither denied nor confirmed the rumor, but Fantom (FTM) reacted to the news, with him jumping 24% in the last 24 hours.
eNaira CBDC ‘failed’ despite Nigerian Central Bank’s claims to the contrary
Nigeria’s Central Bank Digital Currency (CBDC) eNaira has not met the success it had hoped for. It will launch on 25 October 2021 to “increase remittances, facilitate cross-border trade, improve financial inclusion and make it easier for governments to pay welfare.” However, since its inception, it has facilitated just over 700,000 transactions.
However, the Central Bank of Nigeria claims that this is a victory and that eNaira has served its purpose.
Cloud Service Provider Hetzner Blocks Solana Validator Access for TOS Violation
Stake pool operator SolBlaze tweeted a screenshot of an email from Hetzner, revealing that Hetzner blocked all Solana (SOL) validators.
🚨⚠️ Hetzner started it all @solana A node hosted in your infrastructure. ⚠️🚨
Over 20% of mainnet-beta’s stake weight is overdue, with thousands of validators offline.
If you’re using Hetzner to run your Solana validator, switch to another provider as soon as possible. pic.twitter.com/rkXwKvXGVx
— SolBlaze.org | Bet with us! 🔥💃 (@solblaze_org) November 2, 2022
Recalling that the network does not allow crypto-related activity, Hetzner asked validators to remove all Solana-related activity from their servers.
research highlights
Research: Bitcoin has broken below a major resistance only for the fourth time in its history.
Analysts at Cryptoslate have analyzed Bitcoin realized price and cost-based cohort metrics to reveal that the bear market is likely to reverse by the end of the first quarter of 2023.
Conclusions were drawn from cost-based cohorts calculated on realized prices.
In the chart above, Bitcoin’s cost-based cohort chart shows that the current Bitcoin price is below realized prices for short-term and long-term holders. This incident has only been repeated three times so far. This is indicated by the purple area on the chart.
In each incident, Bitcoin recorded a surge. Judging by historical evidence, Bitcoin is likely to break the current resistance soon, perhaps by the end of the first quarter of 2023.
News around Cryptoverse
Haas F1 Partners with OpenSea to Launch NFT Collection
As announced by Haas F1 Team, the Haas F1 Formula Team has signed a partnership agreement with leading NFT marketplace OpenSea to launch the new NFT Collection.
crypto market
Over the past 24 hours, Bitcoin (BTC) rose +0.22% to reach $20,244 while Ethereum (ETH) also rose +1.61% to trade at $1,542.
