CryptoSlate Wrapped Daily: Terraform Labs calls Do Kwon arrest warrant ‘unfair’ after denial of cashing out BTC; MEV bot loses $1M in an hour – CryptoSlate





The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $19,493.30 and BTC market dominance is %. The price of Ethereum is $1,338.91 and ETH market dominance is %. The best performing cryptoasset sector is Art, which gained 76%.
The Right Place to Buy, Earn, Exchange and Borrow against Your Crypto.
Do Kwon and LFG denied transferring 3313 BTC to KuCoin and OKX, BIS finalizes CBDC pilot program that transferred $22 million, and much more in this edition of CryptoSlate Wrapped Daily.
Cover art/illustration via CryptoSlate
The biggest news in the cryptosphere for Sept. 28 includes Charles Hoskinson’s expectations that VCs would invest in Cardano in two years, how an MEV bot gained and lost around $1 million, and Do Kwon and LFG’s denial of transferring $69 million worth of Bitcoin to crypto exchanges KuCoin and OKX. 
Input Output’s CEO Charles Hoskinson spoke at the Mainnet 2022 event that is taking place in New York. He mentioned that venture capitalists overlook the Cardano (ADA) ecosystem because they chase short-term profits.
With that being said, he added that things are about the change for the Cardano network in two years. He noted that VCs will get involved as the number of dApps increases in the Cardano blockchain. He said:
“Because there is something to invest in, there is something to connect to. So probably 2023, 2024.”
A Maximal Extractable Value (MEV) bot 0xbaDc0dE was a mempool bot that had been active on the Ethereum (ETH) for a few months. Among the 220,000 transactions it made, one generated a massive arbitrage, providing the bot with an 800 ETH profit.
However, the bot got exploited by a hacker and lost over $1 million, so the winning of the arbitrage lost its point.
Reportedly, South Korean authorities warned crypto exchange platforms KuCoin and OKX to freeze 3313 Bitcoins (BTC) because Terraform Labs founder Do Kwon and The Luna Foundation Guard (LFG) allegedly transferred that amount to their platforms.
The amount equates to roughly $69 million with the current BTC prices. The LFG and Kwon came forward today to deny moving $69 million to KuCoin or OKX.
The Bank for International Settlements (BIS) announced that it successfully completed a pilot Central Bank Digital Currency (CBDC) project that involved four Asian central banks.
The project is called mBridge, referring to Multiple CBDC, or mCBDC. According to the announcement, it has already facilitated $22 million worth of transactions during the pilot period.
Chainlink finally announced its staking reward programs, the SCALE and BUILD.
The Sustainable Chainlink Access for Layer 1 and 2 Enablement (SCALE) is a part of Chainlink’s Economics 2.0 project, which aims at enhancing the long-term utility of its oracle services. On the other hand, the BUILD was launched as a component of Chainlink staking targeting early-stage projects.
Klaytn’s new program will allow web3 gaming companies to build on the Klaytn network to offset gs fees for gamers. This eliminates the necessity of purchasing crypto for gas payments before playing web3 games.
The Commodity Futures Trading Commission (CFTC) filed a lawsuit against Ooki DAO because the DAO didn’t have:
“Any listed headquarters or physical office location, mailing address, or a listed president, secretary, treasurer, or agent appointed to accept service.”
Ooki DAO hasn’t responded to the case yet.
Analysts from Reflexivity Research identified five crypto CEOs who resigned from their positions and asked -who’s next?
Many prominent names from the crypto community responded. While some argued that CEOs are prone to chase cash and that the crypto market was failing to provide it, others pointed at the upcoming regulations and said they frightened the former CEOs.
The historically-stable British Pound (GBP) has fallen to its lowest against the U.S. Dollar (USD) on Sept. 28.
CryptoSlate analysts took a deep dive into the subject to discover that the GBP has been following a downward trend against the USD since the 1990s. The falling of the pound accelerated after the major tank in 2008.
As the pound began to lose its stability, people started to look at other alternatives, such as Bitcoin. On Sept. 26, BTC/GBP trading volume increased by over 1,200%.
Terraform Labs described the South Korean prosecutor’s arrest warrant for its CEO Do Kwon as an overreach of their authorities and claimed that Luna was not a security, so South Korea’s capital-markets law did not cover it, The Wall Street Journal reported.
In the last 24 hours, Bitcoin (BTC) increased by 2.47% to reach $19,541, while Ethereum (ETH) also increased 1.09% to be traded at $1,335.
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
Directly from this Widget: the top CEXs + DEXs aggregated through Orion. No account, global access.
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Bitcoin is a consensus network that enables a new payment system and completely digital money. Learn more
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Learn More
Ethereum is the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications. Learn More
Chainlink’s decentralized oracle network provides the same security guarantees as smart contracts themselves. Learn More
Powered by the Helium Blockchain, #ThePeoplesNetwork represents a paradigm shift for decentralized wireless infrastructure. Learn More
Kava is a lightning-fast Layer-1 blockchain featuring a developer-optimized co-chain architecture that combines the two most used permissionless ecosystems – Ethereum and Cosmos – into a single, scalable, network. Learn More
Synthetix, formerly Havven, is a cryptoasset-backed network that enables the creation of on-chain synthetic assets. Learn More
IOTA is focused on being useful for the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT), data integrity, micro-/nano- payments, and other applications where a scalable decentralized system is warranted.. Learn More
1inch is a decentralized exchange aggregator that sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEXs. Learn More
Cosmos is a blockchain ecosystem where thousands of dApps interoperate to create the foundation for a new token economy. Learn More
Charles Hoskinson is a Colorado-based technology entrepreneur, mathematician, and blockchain enthusiast. Learn More
Do Kwon is the co-founder and CEO of Terraform Labs. Learn More
Input Output Hong Kong (IOHK) is a research and development company committed to using the peer-to-peer innovations of blockchain to build accessible financial services for all. Learn More
Terra is a price-stable cryptocurrency designed for mass adoption. Learn More
The lack of “ponzinomics” has VCs presently looking elsewhere. However, as Cardano’s dApp ecosystem takes off, Hokinson sees VCs money coming.
Cosmoverse attracts the attention of LATAM as it emerges as the next potential hub for crypto innovation
The SCALE and BUILD programs are part of the Economics 2.0 plan to secure the network and reward participants by introducing staking.  
Do Kwon and LFG denied transferring 3313 BTC to KuCoin and OKX, BIS finalizes CBDC pilot program that transferred $22 million, and much more in this edition of CryptoSlate Wrapped Daily.
The activist group stated that “without a shadow of doubt” BAYC and Yuga Labs are hiding esoteric symbolism in plain sight.
Binance’s CEO Changpeng Zhao was asked about the 1.2% per-transaction tax of Terra Luna Classic during an AMA session he held on Sept. 23. 
Whales are considered smart money within the Bitcoin ecosystem since they have managed to hold through almost every bear market cycle.
Hoskinson said Ethereum developers are stuck on technology from 2014 and need to grow up and move on.
US citizens who had sent cryptocurrency to Tornado Cash but did not complete the mixing transaction before the sanctions can apply for a withdrawal license from the OFAC. 
Google Cloud blockchain developer Sam Padilla showcased the latest update to Google Search which includes a real-time Merge countdown with merging pandas
LUNA Classic developers have introduced high yield staking rewards and token burns in a bid to bring investors back.
Terra Classic’s come back is made all the more evident as recent price spikes now place it 26th biggest project by market cap.
Tyranno Studios believes the future of web3 gaming is cross-chain where users can sell NFTs on any chain but play on a gaming-first blockchain
A weekly recap of key Bitcoin metrics and the macro factors affecting its price performance in the market, published every Saturday.
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