A roundup of the week’s crypto news, with the CEO of Celsius stepping down, Chainlink partnering with SWIFT, and Do Kwon on the run from literally everyone.
The week’s top story
The week’s top story saw Celsius CEO Alex Mashinsky step down from the bankrupt crypto lending platform. Mashinksy’s exit follows a recent exodus of other well-known and outspoken CEOs, such as Kraken’s Jesse Powell, Microstrategy’s Michael Saylor and Genesis CEO Michael Moro.
Could this be a result of regulatory uncertainty, or the liquidity crunch suffered by centralized crypto applications, or both?
In regulation news, an interpol “red notice” has been issued for Terra co-founder Do Kwon, which means he can now be arrested in 195 of the world’s countries. Do Kwon has continued casually tweeting through the global manhunt, saying he was “not on the run or anything similar”
And Ripple received a boost in their SEC lawsuit when U.S. courts ordered the Securities and Exchange Commission to release documents detailing a speech made by official William Hinman, in which the former SEC figure asserted that the sale of “Ethereum and other currencies” should not be considered as securities.
This week in Web3
In Web3 news, the leading financial messaging network SWIFT has partnered with Chainlink to develop a solution that will allow the international banking sector to transfer cryptocurrencies across the most popular blockchains in the space.
And as of today, Facebook and Instagram users in the U.S. can now connect their digital wallets to the platform and access Meta’s NFT features. The product has been in the works for most of 2022, but up until now was only available to select users.
And finally… Do Kwon tweeted after the interpol announcement that he was making “zero effort to hide”, despite seemingly changing his host country every week.
Do Kwon's questionable assertion prompted this “tweet of the year” response from Twitter user @Token2049:
Do Kwon “fully cooperating with government agencies” pic.twitter.com/xsydhudXCB— Nansen Intern @ Token2049 (@nansen_intern) September 17, 2022
While the market is faultering, why not read up on your Web3 lore with our article on 5 novels that predicted the metaverse.
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.