Putin gives Snowden citizenship, Interpol elicits help in Do Kwon search and other news

October 02, 2022


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A week in review: September 25–October 1

Your weekly highlights to stay up to date with the latest crypto news

#1. Pro-centralization Russian president grants citizenship to Edward Snowden: Report

Edward Snowden has reportedly received Russian citizenship via a decision from the country's president, Vladimir Putin. Snowden has been a permanent resident in Russia since 2013 after he exposed secrets relating to the United States National Security Agency. However, Snowden favors less government involvement than Putin's approach to leadership. Snowden has offered comment on crypto multiple times and helped build crypto asset Zcash.

#2. Breaking: Interpol 'Red Notice' issued for Do Kwon — South Korea prosecutors

Global criminal police organization Interpol has put out an alert known as a Red Notice in order to help locate and arrest Terraform Labs co-founder Do Kwon, wherever he may be. Terra's ecosystem fell apart earlier in 2022. Charges were brought against Kwon in South Korea for his involvement in the Terra project. Kwon has tweeted that he is not hiding. He was thought to be in Singapore, although Reuters reporting has indicated a possible change in location. Authorities in South Korea have also taken steps to freeze funds reportedly associated with Kwon.

#3. FTX US wins auction for Voyager Digital's assets

The auction to acquire Voyager Digital assets ended this week when crypto exchange FTX US emerged as the winner, edging out competing bids from CrossTower and Binance. The U.S. exchange paid around $1.4 billion for Voyayer's assets, which is roughly the same as the lender's remaining assets. The deal is pending approval from a U.S. bankruptcy court. Wave Financial also participated in the bidding and has since debated the outcome.

#4. Prediction of the week. Bitcoin price due 'big dump' after passing $20K, warns trader

Bitcoin largely remained below $20,000 this week, though the asset successfully broke above that level several times, according to Cointelegraph's BTC price index. After zipping past $20,000 on Sept. 30, Bitcoin fell right back down below the level, seeming to line up with the timing of a recent speech by Russian President Vladimir Putin. Pseudonymous Twitter user "Il Capo of Crypto" predicted the price action in a Sept. 30 tweet: "Pump to 20000-20500 before Putin's speech. Then big dump."

#5. FUD of the week. California files order against Nexo interest account, says it's 8th state to take action

Crypto lending platform Nexo has been ordered by California's Department of Financial Protection and Innovation (DFPI) to halt the operation of its Earn Interest Product. The agency asserted that the product does not fall in line with regulatory approval requirements. Nexo essentially froze the product for U.S. customers earlier in 2022, although not fully, according to the DFPI. Nexo reportedly faces similar action from New York, Vermont and five other state regulators. Nexo explained to Cointelegraph that it has been working with regulatory authorities in the U.S.

#6. FUD of the week. SEC alleges fintech and 'market maker' firms manipulated crypto market in token scheme

Hydrogen Technology Corporation and market maker Moonwalkers Trading Limited face action from the SEC for alleged market manipulation. In 2018, Hydro tokens were dispersed via multiple avenues, including an airdrop. Hydrogen and Moonwalkers then allegedly collaborated to make it seem like the asset was significantly active on the market and subsequently dumped Hydro tokens for profit.