Altcoin News by Thebittimes.Com

In yet another appeal against his extradition, Do Kwon has accused a Montenegrin court of “bizarre interpretations” and failing to give his defense team access to important documents until 20 minutes before a Supreme Court hearing . Montenegro’s High Court approved Do’s extradition earlier this month before the country’s Minister of Justice was left to decide if he should be extradited to the United States or South Korea. Do’s team reportedly appeal ed against the High Court’s decision on Tuesday, calling it “unfounded and il Legal ” and claim ing that the court relied on “bizarre interpretations of the law,” specifically around international Legal assistance. They also argued the final decision was made “ with the aim of using bare force , in order to support the undisguised interests of the first instance court and the Minister of Justice.” Do Kwon says false information was used to favor US extradition Do...

As the airdrop period for the Solana-based WEN token ended, a quarter of its supply was burned due to unclaimed tokens. The WEN token, a homage to the cryptocurrency community’s frequent inquiries about new token mintings, was part of a novel experiment involving fractionalized NFTs. Claiming for $WEN has officially finished. For the duration of Wen's upbringing, we have been emitting $WEN to the community via the claim . Now, there are no more emissions and over 1/4 of the total supply will be burned forever. We are excited to immortalize wen culture and… pic.twitter.com/BUEG5QrZoH — $WEN (@wenwencoin) January 29, 2024 In simpler terms, a poem by @weremeow was transformed into an NFT and then divided into one trillion parts, each part representing a WEN token. This approach led the creators to describe WEN as the first community coin based on fractional NFTs. A Love Letter To Wen Bros ️ pic.twitter.com/amTNSLcQ3f — meow (@weremeow) December 23, 2023 ...

Venture capitalist Christen Ager-Hanssen announced his departure from web3 solutions provider nChain, citing a conspiracy to defraud shareholders. The Norwegian internet entrepreneur stated on social media that he was stepping down from his position as CEO “with immediate effect.” I can confirm I have departed from @nChainGlobal as its Group CEO with immediate effect after reporting several serious issues to the board of nChain Group including what I believe is a conspiracy to defraud nChain shareholders orchestrated by a significant shareholder. I also… pic.twitter.com/F6rNJfRxnl — Christen Ager-Hanssen (@agerhanssen) September 29, 2023 Ager-Hanssen alleged a conspiracy to defraud nChain shareholders in the post, directly implicating an unnamed major shareholder. He also expressed doubt about the legitimacy of the DW Discovery Fund, an open-licensed fund registered in the Cayman Islands that specializes in “investing within disruptive technology.” The now-form...

The Hong Kong Monetary Authority (HKMA) is taking a decisive stance against cryptocurrency-related companies that falsely present themselves as banks. Hong Kong cracks down on crypto businesses The HKMA has issued a stern warning to crypto currency-related firms that are misrepresenting themselves as banks or describing their products as deposits. According to HKMA, this action is seen as a contravention of the Banking Ordinance. HKMA has noticed some crypto businesses using terms like “ crypto bank,” “ crypto asset bank,” “digital asset bank,” “digital bank,” or “digital trading bank.” They also claim to offer “banking services” or “banking accounts”. Some even use the term “deposits” for funds placed with them by clients and promote “savings plans” as “low-risk” with “high returns.” The regulator reckons such descriptions can mislead the public ...

The past few weeks were characterized by consolidations and horizontal price movements. As a result, trends on assets’ charts had been quite monotonous. The state of affairs have, however, completely flipped over the past day. Litecoin, for instance, went on to register two successive long green candles on the daily. From yesterday’s low of $61.07, the asset’s price went on to claim $83.66, noting a 36.99% increase in value. Post noting brief retracement from the said highs , the 13th-ranked cryptocurrency was trading at $79 at press time. As illustrated below, the current levels were last registered by Litecoin back in May 2022 before this. LTC/USDT | Source: TradingView What fuelled Litecoin’s surge? Data from Santiment brought to light that addresses HODLing 1k-1000k of LTC have increased their supply as of late. The same currently stands at a seven-month high. In fact, they have collectively added $43.4 million worth of the asset in just the past...