Terra founder Do Kwon was caught in Montenegro

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Terra founder Do Kwon caught in Montenegro; Arbitrum daily transaction count reaches record high; Telegram announces it will support USDT stablecoin payments on Tron network.

Terra founder Do Kwon caught in Montenegro

Terraform Labs founder Do Kwon, who has been wanted with a red notice for some time, has been arrested in Montenegro, according to an official statement from the Montenegrin Minister of Interior.

Terra, seen as one of the Ethereum competitors in 2021, was among the factors that triggered a significant collapse in the crypto market with the UST crisis that broke out in 2022. After this event, which caused a loss of approximately $ 40 billion in the crypto market, Do Kwon first fled to Singapore.

Do Kwon was arrested in Montenegro on Thursday, March 23, according to the official Twitter account of Montenegrin interior minister Filip Adzic.

Singapore police said in an email on March 6 that an investigation has been launched into Terraform Labs. In the e-mail, it was also stated that the investigations were continuing.

The SEC also filed a lawsuit

In February, the U.S. Securities and Exchange Commission (SEC) filed a fraud lawsuit against Do Kwon and Terraform Labs. The lawsuit alleged that Do Kwon deliberately misled investors regarding UST. The UST lost the dollar peg in May 2022, causing investors to lose a lot of money.

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Do Kwon’s and Terraform Labs’ lawyers said they would deny the accusations of misleading investors and selling unregistered securities. Do Kwon has previously denied that he had been involved in fraud. In an interview with WSJ, Kwon said that he lost money with the collapse of the UST.

Arbitrum daily transaction count reaches record high

Arbitrum, an Ethereum layer-2 solution, is decentralized by issuing its governance token, ARB. Arbitrum had previously announced that it would hold an airdrop event on March 23.

Using Optimistic rollups technology to enable faster and cheaper transactions, activity on Arbitrum accelerated ahead of the scheduled airdrop of the native token ARB on Thursday, March 23. The daily number of transactions on Arbitrum rose to a new record high of 1,312,052 on Wednesday, surpassing the previous high of 1,103,398 reached on February 21, according to data source Arbiscan.

The Ethereum mainnet processed approximately 1.08 million transactions. Network metrics have increased by over 50 percent since Arbitrum announced its token airdrop a week ago. According to data from the Dune Analytics-based Arbitrum dashboard, Arbitrum found more than 400,000 new users in two weeks, increasing its cumulative user base to over 3 million.

On Thursday, nearly 625,000 wallets were waiting for airdrop or free distribution of over 1 billion ARB tokens. 12.75 percent of its supply will be distributed to Arbitrum community members and DAOs in the Arbitrum ecosystem.

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Airdrops involving free token distribution to the community are a common way to increase adoption. ARB’s total supply will be fixed at 10 billion.

Exchanges are listing ARB!

Huobi and MEXC have announced that they will list ARBs following Arbitrum’s March 23 airdrop. Binance, the world’s largest crypto exchange, also announced on March 23 that it would list an ARB.

Telegram announces it will support USDT stablecoin payments on the Tron network

Telegram users can now send each other Tether’s stablecoin (USDT). Telegram announced on Wednesday that its wallet function supports USDT-TRON, known as TRC20 within the app.

USDT is the third largest cryptocurrency after Bitcoin and Ethereum, with a market capitalization of $78 billion. It is also a stablecoin, meaning its value is backed by a stable asset ($1 for 1 USDT).

USDT runs on several different blockchains. However, Telegram has announced that it will only support presence on Tron-TRC20 for now.

Tron is the 15th largest cryptocurrency by market capitalization and the network behind its native token, TRX. Tron is working to build a foundation behind the decentralized internet. Using the blockchain of the Tron network is low-cost and high-speed.

However, users can also use stablecoins on the Tron network. “You can now P2P trade, trade and buy Tether USDT (TRC20) on Telegram,” Telegram’s announcement states. Included a statement. Also, Telegram said in the statement, “You can send USDT directly to your friends with no transaction fees.” made his statement.

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