The most important information within the cryptoverse for Nov. 3 consists of the non-public dialog Korea obtained that proves Kwon purposely manipulated the LUNA worth, the reveal of China’s $6 billion value of crypto reserves, and Stripe’s resolution to downsize by 14%.
CryptoSlate Prime Tales
Korean authorities reportedly have proof of Kwon’s LUNA worth manipulations
Korean prosecutors confiscated a non-public dialog between Terraform Labs founder Do Kwon and one in every of his staff the place Kwon ordered him to govern Terra’s (LUNA) market worth, in keeping with native information sources.
Prosecutors additionally found Kwon was at present residing someplace in Europe. Since his passport was terminated by the Korean authorities on the finish of October, Kwon is at present an unlawful immigrant on European soil.
China holds $3.9B value of Bitcoin regardless of anti-crypto stance
CryptoQuant’s co-founder Ki Younger revealed that China holds $6 billion value of crypto, together with Bitcoin (BTC) and Ethereum (ETH). That is significantly fascinating since China is thought for its anti-crypto angle.
Younger revealed the information through his private Twitter account and disclosed that China seized 194,000 Bitcoins, 833,000 Ethereums, and others from the PlusToken rip-off of 2019 and has been holding on to them ever since.
Stripe lays off 14% of workforce to chop prices amid financial downturn
Funds processor Stripe’s CEO despatched an electronic mail to all workers on November 3 to announce that the corporate laid off 14% of its workforce, equating to over 1,100 staff.
The e-mail acknowledged:
“We had been a lot too optimistic concerning the web economic system’s near-term progress in 2022 and 2023 and underestimated each the probability and influence of a broader slowdown.”
Rumors of Andre Cronje’s return trigger Fantom to spike 24%
iEarn Finance’s founder and architect Andre Cronje posted a meme saying, “right here we go once more” on his official Twitter and Linkedin accounts on Nov. 3.
— iamdefinitelyandre.ftm (@AndreCronjeTech) November 3, 2022
The meme led to rumors that he’s again within the crypto business. Whereas Cronje didn’t deny or approve the rumors, Fantom (FTM) reacted to the information by spiking 24% up to now 24 hours.
eNaira CBDC ‘a large failure’ regardless of Nigerian central financial institution’s claims on the contrary
Nigeria’s Central Financial institution Digital Foreign money (CBDC) eNaira has didn’t attain its anticipated success. It was launched on Oct. 25, 2021, to “enhance remittances, foster cross-border commerce, enhance monetary inclusion and allow the federal government to make welfare funds extra simply.” Nonetheless, it solely facilitates a bit over 700,000 transactions since its launch.
Nonetheless, the Nigerian Central Financial institution claims that it is a victory and that the eNaira fulfilled its function: to familiarize folks with crypto.
Cloud service supplier Hetzner blocks entry for Solana validators over TOS breach
Stake pool operator SolBlaze tweeted the screenshot of an e-mail from Hetzner, revealing that Hetzner blocked all Solana (SOL) validators.
🚨⚠️ Hetzner simply kicked off all @solana nodes hosted on their infrastructure. ⚠️🚨
Over 20% of stake weight on mainnet-beta is delinquent, with 1000’s of validators offline.
If you’re working a Solana validator utilizing Hetzner, please change to a special supplier ASAP. pic.twitter.com/rkXwKvXGVx
— SolBlaze.org | Stake with us! 🔥💃 (@solblaze_org) November 2, 2022
Hetzner reminded that its community doesn’t enable crypto-related actions and requested the validator to take away all Solana-related actions from their server.
Analysis Spotlight
Analysis: Bitcoin falling beneath key resistance for under the fourth time in its historical past
Analyzing Bitcoin’s realized worth and value foundation cohorts metrics, CryptoSlate analysts revealed that the bear market is prone to flip by the top of the primary quarter of 2023.
The conclusion was drawn from the fee foundation cohorts, that are calculated primarily based on the realized worth.
On the chart above, the Bitcoin value foundation cohorts chart exhibits that the present Bitcoin worth is beneath the short-term holders’ and long-term holders realized costs. This incident has been repeated solely 3 times earlier than, which is demonstrated by the purple areas on the chart.
In every incident, Bitcoin recorded a surge. Judging by the historic proof, Bitcoin is prone to break its present resistance quickly, presumably on the finish of the primary quarter of 2023.
Information from across the Cryptoverse
Haas F1 companions with OpenSea to launch NFT assortment
Haas F1 Formulation Staff inked a partnership cope with main NFT market OpenSea to launch a brand new NFT assortment, because the Haas F1 Staff introduced.
Crypto Market
Within the final 24 hours, Bitcoin (BTC) elevated by +0.22% to achieve $20,244, whereas Ethereum (ETH) additionally spiked by +1.61% to commerce at $1,542.
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