☕️The Morning Cup: Apple accepts listed app to sell NFTs; Interpol is after Terra’s Do Kwon; SOL dropped as the network went offline
Good morning, good day, and good evening. Welcome back to The Morning Cup. It’s your weekly recap of the latest in crypto news and your start to the week, no matter where you are. Don’t worry, we’ve selected just what you need to stay up-to-date, so you won’t spend time pouring through the news you don’t need, only the news you care about.
So what happened this week?
Another calm week only with SOL dropped as the network went offline
Another day of calm in the crypto market with no important events as the market briefly reclaimed a trillion dollar market capitalization. Bitcoin (BTC) is now trading at $19,168 while Ethereum (ETH) is at $1,294 at the time of writing. Meanwhile, Solana (SOL) took a hit last Friday since a misconfigured node caused the network to stop processing transactions and go offline. The network has since resumed operation. SOL is currently trading at $32.3 as of press time, down 1.63% in the past 24 hours. As for the top 24-hour gainers on Poloniex, they are FUND/USDT, SUN/USDT, TRU/ TUSD, XLMBEAR/USDT, POL/USDT, JST/USDD.
Apple allows NFTs to be bought and sold on App Store
More big firms are tapping into Web3 technology. Apple last week allowed apps listed on the App Store to sell NFTs as long as it still gets the same 30% cut of in-app sales, according to The Information. Meanwhile, the Walt Disney Company is recruiting a principal counsel specializing in NFTs, the Metaverse, blockchain technologies, and DeFi to assist the company in exploring the possibility of digital innovations and providing a legal perspective. Apart from the tech and entertainment giants, Walmart, the retail giant, has launched two virtual platforms, dubbed Walmart Land and Walmart’s Universe of Play. Both platforms exist on Roblox, a non-blockchain gamified virtual world and allow users to dress up their avatars and play minigames to earn tokens and badges as well as collecting products and characters from various franchises.
The Information, Blockworks, Decrypt, Fortune
Interpol issued a “Red Notice” to track down Terra’s Do Kwon
South Korean officials last Monday revealed that Interpol has issued a Red Notice to request law enforcement worldwide to arrest Do Kwon, the 31-year-old founder of blockchain platform Terraform Labs. A Red Notice is a request to global law enforcement to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. In other words, the whole world is tracking Do Kwon down since he has been accused of fraud by investors in the wake of the collapse of the stablecoin TerraUSD (UST), and its sister token Luna (LUNA) in May with an estimated $42 billion loss globally. This, in turn, caused the failure of several major crypto companies including US crypto lender Celsius and Singapore-based crypto fund manager Three Arrows Capital (3AC). According to BBC Korean, Interpol’s latest action was taken after receiving a request from South Korean prosecutors. Prior to Interpol, a South Korean court issued an arrest warrant a month ago for Do Kwon and five other people, who were accused of being linked to the imposition of the aforesaid tokens. The South Korean authority said that Do Kwon was “on the run” and asked the foreign ministry in Seoul to revoke his passport. However, Do Kwon denied hiding, but he has never revealed his whereabouts on his Twitter account.
Yonhap News, The Wall Street Journal, BBC
Solana is back online after suffering another major outage
Solana is back online after suffering an outage last Friday that stopped nodes from processing transactions. According to a Solana validator operator, the issue seems to be caused by a misconfigured node, which caused the network to stop processing transactions and go offline last week. Dubbed an “Ethereum killer”, Solana is a popular blockchain for minting NFTs and deploying dApps and is now the number three Proof-of-Stake blockchain by market cap behind Ethereum and Cardano.
New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
⭐️Santos FC Fan Token (SANTOS)
Futures
Polopedia
Take a look at our Polopedia articles this week, covering Chainlink (LINK) and briefly covering the concepts behind futures trading.
Crypto Glossary
For this week, we are going to explain the most popular term, HODL, in the crypto world.
So, what is HODL? It’s the warping of the word “hold” which originally came from a BitcoinTalk forum back in 2013 when a user misspelled the title and said: “I AM HODLING.” Since then, the term retrofitted to be an acronym for “Hold On for Dear Life” to describe investors who “hodl” the cryptocurrencies instead of selling them no matter what, so these strong believers are also dubbed as “hodlers”.
What’s happening here at Poloniex?
This is what Poloniex’s week looked like
Highlights for the week
Campaigns
Our recap of ongoing campaigns that YOU can get involved in!
Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT (10/1–12/31/22)
SANTOS Listing Giveaway: 2,000 SANTOS and 10,000 USDT up for Grabs! (9/27–10/11)
Poloniex Launches Zero-Fee USDD Trading (ONGOING)
Poloniex Feedback Bounty Program (ONGOING)
👩🚀Space Traveller Program
We had a great AMA with one of our Space Travellers, CryptoHamster, in our Telegram group!
The community megaphone📢
Highlights from the community
THANK YOU to everyone who took part in our USDTEARN program!
And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel-
Is there anything you’d want to see us cover in our newsletter? Make sure to comment on this Medium article! Just want to show your appreciation? Smash that clap button and give a round of applause👏
Thanks for spending some time with us as we went over what’s going on. And wherever you are, from the team here at Poloniex, good morning, good day, and good evening!
