Welcome to Clutch’s weekly Pocket News. This week in Crypto News, Interpol issued a Red Notice for Terraform Labs co-founder Do Kwon, California Governor Gavin Newsom vetoes a bill that would regulate crypto licensing, and Disney is hiring an attorney to focus on cryptocurrency and NFTs. In Clutch news, we explore post-merge upgrades in our latest blog post, and we’re in a pitch competition this Tuesday. In community updates, our partner, MyBFF is introducing exclusive member-only groups on Discord to help you stay plugged into Web3!
A non-custodial social wallet offering users an all-encompassing transacting experience underpinned by social, media, education, and seamless web3 integration.
Ethereum’s merge was a showstopper so will the upgrades developers have planned live up to the hype(lower transaction fees/faster transactions) or will Ethereum be wrought with controversy and ill-fated to a centralized existence? We look at that in our latest blog post: Living in a post-merge paradise
The Rock and Gal Gadot are safe, but Do Kwon is majorly SOL. The Red Notice came a week after an arrest warrant was issued for the Terraform Labs co-founder. A Red Notice notifies law enforcement worldwide to locate and arrest an individual so they can be extradited to face criminal charges. If located, Do Kwon would get extradited to South Korea. South Korean prosecutors say Do Kwon is “obviously on the run” and has not cooperated with law enforcement despite his claim that he’s defending himself in many jurisdictions.
XRP surged 25% after Ripple Labs called for an immediate ruling in their court case with the SEC. The SEC sued Ripple Labs in December 2020, alleging that Ripple made $1.3 billion from selling XRP through unregistered securities transactions. Ripple maintains that XRP is not a security. A decision is expected by mid-December.
On Friday, Gov Gav vetoed a bill that would create licensing regulations for anyone seeking to facilitate crypto transactions. The governor said it’s premature to regulate without more feedback (AKA more research on crypto) on the executive order he issued in May. He stated regulations need to be more flexible for a technology that is rapidly evolving. Anybody know Gary Gensler‘s @?
Disney listed an attorney position to work on transactions involving emerging technologies, including NFTs, blockchain, metaverse, and decentralized finance. This attorney would “partner with business teams as they plan new global emerging technology projects, typically on an accelerated and aggressive timeline.” Disney focused on augmented reality, NFTs, and artificial intelligence earlier this year. However, this job posting may mean they’re interested in expanding *aggressively* into the crypto space.
Bitcoin(BTC) is up 0.88%, and Ethereum (ETH) is down 0.85%. The markets remained steady this week, with some decline for ETH possibly due to Ethereum miners unloading $20 million of ETH. ETH has dropped 21% in the last month.
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