Terra founder Do Kwon is in hiding in Serbia, a South Korean outlet has claimed, citing intelligence. This and more news can be found in this handy daily digest to keep you up to date with the latest developments in the crypto world.
Do Kwon is in Serbia, according to South Korean media Chosun
📍According to South Korean media Chosun, Do Kwon is in Serbia. One of South Korea's largest newspapers, Chosun, has informed on the whereabouts of Terraform Labs and Terra blockchain ecosystem founder Do Kwon.
The outlet said Kwon is in Serbia, citing intelligence information. Now, South Korean authorities are asking the European country for cooperation in continuing their investigations.
It should be noted that Kwon is on Interpol's red list and that a South Korean court has issued an arrest warrant for him. The country's authorities have been investigating Kwon and Terraform Labs over the crisis caused by the algorithmic stablecoin UST, after it lost its peg to the dollar last May.
Monagas Innova seeks to boost the cryptocurrency industry in the Venezuelan state
📍Cryptocurrencies will be used as rewards to encourage recycling in Venezuela. In the state of Monagas, Venezuela, two new initiatives focused on cryptocurrencies are emerging. The first of these is related to garbage recycling. According to the mayor of the city of Maturín, the state capital, cryptocurrencies and stablecoins will be used as a reward for recycling carried out by citizens.
On the other hand, the state of Monagas is also focused on fueling cryptocurrency mining activity with energy from natural gas.
Both initiatives are part of the Monagas Innova project, which was presented with the aim of taking advantage of the region's natural resources to boost the crypto industry and create new solutions based on blockchain technology.
The Block names new CEO after Mike McCaffrey resigns
📍The Block CEO Mike McCaffrey resigns after confirming he secretly received funding from Alameda Research to restructure the outlet. In a publication, Bobby Moran, chief revenue officer at The Block, has announced that he is taking over as its new CEO, following the resignation of Mike McCaffrey. According to Moran, McCaffrey secretly accepted funding totaling $27 million from Alameda Research, one of Sam Bankman-Fried’s failed companies, to restructure the cryptocurrency news and analysis outlet last year.
However, Moran stressed that the funds were in McCaffrey's possession and that he had not revealed their origin, so now that the origin of the funds is known, McCaffrey has been asked to resign immediately.
The new CEO said there is no evidence that McCaffrey manipulated information about the collapse of FTX and Alameda Research, or that it was not given proper coverage. However, receiving funding from Alameda will call into question the transparency of the outlet, as well as the integrity, credibility and reputation of its researchers and reporters, Moran said.
Dolce & Gabbana launches a new collection of NFTs
📍Italian luxury fashion brand Dolce & Gabbana will launch its next collection of non-fungible tokens this Tuesday, December 13. The NFT collection has been created in collaboration with non-fungible token platform InBetweeners and marketplace UNXD.
With this launch, Dolce & Gabbana wants to boost the construction of a new digital era in the world of luxury fashion and art. The collection will be made up of 2.000 NFT tokens, which will be backed by physical garments stored in the Italian company's vaults.
Dolce & Gabbana announced that each of its NFTs will be exchangeable for one of the luxury brand's 21 authentic physical garments.
Continue reading: Tim Draper: “Bitcoin will make El Salvador the richest country in the world”
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