The Terraform Labs co-founder had been awaiting extradition to either the United States or South Korea after being arrested and charged in Montenegro.

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Terraform Labs co-founder Do Kwon will reportedly be extradited to the United States rather than South Korea to face criminal charges.

According to a Dec. 7 Wall Street Journal report citing people familiar with the matter, Justice Minister Andrej Milovic in Montenegro plans to grant U.S. officials’ request for extradition. Kwon was arrested in Montenegro in March and sentenced to four months in prison for using falsified travel documents but has also been charged in the U.S. and South Korea for…

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Former Terraform Labs CEO Do Kwon may be on his way to the US, according to a report from the Wall Street Journal.

The Journal reports that Montenegro plans to extradite Kwon to the US rather than South Korea. Kwon faces charges in both countries.

Kwon has been held in prison in Montenegro since March after authorities alleged that he falsified travel documents. He was sentenced to four months in prison back in June. 

The US Securities and Exchange Commission has an open case against both Kwon and Terraform Labs, alleging the offer and sale of unregistered securities. South Korea charged Kwon with fraud and violations of the country’s capital markets laws. 

Both the company and Kwon…

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United Arab Emirates firm Phoenix Group has disclosed a new purchase of hardware equipment from WhatsMiner, aimed at expanding its portfolio of hydro cooling rigs. According to an announcement on Dec. 7, the $380 million deal represents WhatsMiner’s largest order in two years.

Under the agreement, Phoenix received mining equipment valued at $136 million, with an additional option worth $246 million available. WhatsMiner’s line of hydro cooling equipment was released in 2022, with current prices ranging from $1,008 to $2,484, according to the company’s website.

WhatsMiner’s hydro cooling hardware uses a closed-loop water system, preserving the volume and quality of water inside pipes….

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Sam Bankman-Fried faces a maximum sentence of 115 years in prison for FTX’s loss of customer funds. 

If sentenced to over 100 years, his punishment will match that of serial killers and rapists, child molestors, mass shooters, cult leaders and top gangsters. Only a handful of US fraudsters in history have ever been sentenced to over 100 years. Ponzi scheme mastermind Bernie Madoff was sentenced to 150, but his fraud was the scale of $64 billion versus Bankman-Fried’s mere 10.

With all that in mind, should Bankman-Fried spend the rest of his life behind bars?

The natural inclination of many, myself included, is no. White collar financial crime doesn’t “hurt” anybody — its…

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Spot bitcoin ETFs could be just around the corner.

A new Reuters report said that the US Securities and Exchange Commission is working with asset managers to hammer out “key technical details.” 

21Shares president Ophelia Snyder said in an interview in late November that the regulator engagement felt different and that the applicants are in a “pattern break.” Together, 21Shares and Ark form one of 13 spot bitcoin ETF applicants.

The SEC has been engaging with the firms on various details in the applications from the surveillance-sharing agreement — of which many applicants named Coinbase. The majority of the applicants also tapped Coinbase as a custodian. 

Amendments to…

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The NFT trading platform Tensor, which launched earlier this year, has taken the number one spot in Solana’s NFT marketplace, overtaking Magic Eden in trading volume on the network.

Over the past month, Tensor has seen an NFT trading volume of over $1 million, almost double Magic Eden’s, according to analytics platform TIEXO. 

This means that Tensor makes up an estimated 60% of the total NFT trading market share on Solana, with Magic Eden coming in under 30% of total volume.

Magic Eden still has more unique wallet users than Tensor, however, with roughly 116 thousand wallets and a 70% engagement rate compared to Tensor’s 86 thousand wallets and 52% engagement rate.

The…

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Is a game even a game without bots? Pixels CEO doesn’t think so

Some think that bots in games is a sign of the apocalypse, or perhaps just the makers trying to fill up an empty venue to make it look popular.

But Pixels founder and CEO Luke Barwikowski says that conversely, if people aren’t trying to fill your game with bots, then it’s probably because the game isn’t exactly the talk of the town.

“If people aren’t trying to bot your game — it’s not because they can’t — it’s because they don’t care enough to do it.”

According to Barwikowski, if you’re making a game that doesn’t have any bots and flaunting it, that’s not something…

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