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Montenegrin prosecutors have appealed the decision to extradite Terra co-founder Do Kwon to South Korea, CoinGecko reports Solana as the leading blockchain ecosystem by web traffic, Google integrates Ethereum Name Service data into search results, Worldcoin open-sources its Orb device software amid privacy concerns, Estonia proposes strict crypto regulation, and Pakistan's ITU announces the country's first metaverse classes.
Your go-to podcast where we break down the latest cryptocurrency news into easy-to-understand insights.
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Host 1:"Good day! How are you faring in this whirlwind of the crypto world?"
Host 2:"Absolutely! It's like a thrilling roller coaster ride, isn't it? The ups and downs keep things interesting, don't you think?"
Host 1:(Laughs) Spot on! It's quite the exhilarating experience, isn't it? There's an abundance of crypto topics to delve into today.
Host 2:"Absolutely! Shall we kick off with this fascinating development? Montenegrin prosecutors are contesting the decision to extradite Terra co-founder Do Kwon to South Korea. Quite the intriguing turn of events, wouldn't you say?"
Host 1:"Quite the intriguing development, isn't it? And have you observed that CoinGecko has reported Solana as the leading blockchain ecosystem by web traffic? It appears that Solana is truly basking in the limelight."
Host 2:"Marvelous! It seems that Google is integrating Ethereum Name Service data into search results. It's as if they're providing us with a crypto compass, don't you think?"
Host 1:"Quite amusing, isn't it? Worldcoin has decided to open-source its Orb device software amidst privacy concerns. Quite the open book, I must say!"
Host 2:"Quite right, old chap! Estonia seems to be proposing some rather stringent crypto regulations. It appears they're aiming to rein in the crypto bull, wouldn't you agree?"
Host 1:"Quite the fascinating news, isn't it? Pakistan's ITU has just announced the country's inaugural metaverse classes. It seems they're hopping aboard the metaverse express!"
Host 2:"Absolutely! We've quite a bit of crypto news to delve into today, wouldn't you agree? Shall we embark on this intriguing journey?"
Host 1:"Indubitably! Let's delve straight into the day's crypto news without further ado!"
Host 1:"Have you been keeping an eye on the entire Terra ecosystem fiasco, old chap?"
Host 2:"Indubitably! It's akin to a gripping real-life thriller, wouldn't you say?"
Host 1:"So, what's the latest twist in this saga, then?"
Host 2:"Ah, quite the intriguing turn of events, my dear colleague! Montenegrin prosecutors have lodged an appeal against the decision to extradite Do Kwon, the co-founder of the now-defunct Terra ecosystem, to South Korea instead of the U.S. They're asserting procedural errors in the decision-making process. Quite the legal tangle, wouldn't you agree?"
Host 1:"Quite the intriguing turn of events, my dear colleague! Montenegrin prosecutors have lodged an appeal against the decision to extradite Do Kwon, the co-founder of the now-defunct Terra ecosystem, to South Korea instead of the U.S. They're asserting procedural errors in the decision-making process. Quite the legal tangle, wouldn't you agree? Oh, that's fascinating. So, what's the next move in this enthralling saga?"
Host 2:"The Supreme Court of Montenegro has intervened, halting the extradition and overturning the rulings of the two lower courts. Quite the legal twist, wouldn't you say?"
Host 1:"So, it's akin to a legal game of ping-pong, isn't it? But what's the motivation behind the prosecutors' appeal, I wonder?"
Host 2:"Indeed, they argue that the High Court and Appellate Court exceeded their jurisdiction in making the call on the extradition. Their contention is that the ultimate authority should rest with the Justice Minister."
Host 1:"And so, this latest development has resulted in yet another twist in the seemingly interminable extradition saga of Mr. Kwon, hasn't it?"
Host 2:"Indeed, Kwon was apprehended at Podgorica Airport in Montenegro in March 2023 while attempting to flee to Dubai using counterfeit travel documents. Both the U.S. and South Korea have been competing for his extradition to face a multitude of charges, including fraud, violations of securities laws, defrauding investors, engaging in racketeering, and orchestrating a Ponzi scheme."
Host 1:"And I say, didn't a Montenegrin appellate court recently uphold the High Court's earlier decision to extradite Kwon to South Korea? Quite the legal conundrum, wouldn't you agree?"
Host 2:"Indeed, quite the diplomatic tangle, wouldn't you say? South Korea's prior request for Kwon's extradition seems to have thrown a spanner in the works, preceding the U.S. officials' own request. Interestingly, Kwon's legal team appeared to acquiesce to this turn of events, having previously indicated a preference for his return to his homeland."
Host 1:"So, in the absence of an appeal, Kwon would have been en route to South Korea by this weekend, wouldn't he?"
Host 2:"Indeed, quite the diplomatic tangle, wouldn't you say? His incarceration in Montenegro for document forgery is set to officially conclude on March 23."
Host 1:"Amidst all this, we find ourselves in the wake of the Terra ecosystem's collapse, don't we?"
Host 2:"Indeed, the Terra ecosystem, once valued at billions, met its demise in 2022 as the prices of its native tokens, Luna and TerraUSD, plummeted to near-zero, rendering them worthless against the U.S. dollar. This catastrophic event resulted in over $60 billion being wiped off the crypto market, ushering in a prolonged crypto winter."
Host 1:"And Terraform Labs, the company behind the ecosystem, went into administration in January this year, didn't they?"
Host 2:"Quite the intriguing financial disclosure, wouldn't you say? They've reported both assets and liabilities in the range of $100 million to $500 million. It's a captivating case, isn't it?"
Host 1:"It's quite the exhilarating journey, isn't it? A rollercoaster ride with no end in sight, one might say."
Host 1:"Ah, you're always brimming with fascinating insights. I've caught wind of some intriguing chatter surrounding Solana in the crypto sphere. Care to divulge the details?"
Host 2:"Indeed! CoinGecko, a prominent crypto data platform, has recently unveiled a fascinating report. It's akin to the revered Billboard Hot 100, but for blockchain ecosystems. And who do you think has claimed the top spot? None other than Solana!"
Host 1:"Solana? Really? I say, isn't Ethereum the reigning titan in the crypto realm?"
Host 2:"Quite the revelation! Solana has surged ahead by a considerable margin, capturing nearly half of the total interest. Meanwhile, Ethereum has only managed to secure a little over 10%. It's as if Solana is the Beatles of the blockchain world, and Ethereum, well, isn't quite in the same league."
Host 1:"Quite the remarkable feat for Solana. What's the secret to their success, I wonder?"
Host 2:"Quite the remarkable year for Solana, I must say. Its native token, SOL, soared to the heights of 2021 once again. It's akin to a phoenix rising from the ashes of the crypto winter of 2022. SOL even outperformed Bitcoin and Ether, multiplying its value tenfold over the course of the year. It's as if SOL hit a home run while others were still tying their shoelaces."
Host 1:"Remarkable indeed! I daresay, did this triumph of Solana have a domino effect on other tokens within the Solana ecosystem?"
Host 2:Absolutely splendid! Tokens such as dogwifhat, Bonk, and Pyth experienced a delightful surge in their prices. It's as if Solana threw a grand soirée, and everyone was in attendance!
Host 1:"And word on the street is that Solana has been hobnobbing with some rather high-profile acquaintances, wouldn't you agree?"
Host 2:"Absolutely! Solana has been mingling with the likes of Google Cloud, Shopify, and Visa. It's as if Solana is the new trendsetter in town, and everyone wants to be in its circle!"
Host 1:"Ah, it seems that Solana is the one to keep an eye on in the crypto world. Much obliged for the insider information!"
Host 2:"Indeed, always a pleasure to impart knowledge! And to our esteemed listeners, do keep a keen eye on Solana. It's akin to the dark horse of the crypto race, and mark my words, it's only just embarking on its journey!"
Host 1:"Have you heard about Google's latest foray into the crypto space, or are you too preoccupied attempting to surpass your high score on that new VR game?"
Host 2:Ah, you know me too well. Indeed, I've caught wind of the Ethereum Name Service integration. Google is now displaying balances and details of crypto wallets linked to ENS domains directly in the search results. It's akin to having a miniature crypto dashboard right within your Google search. Quite the innovative move, I must say!
Host 1:"Quite intriguing, isn't it? The data is directly sourced from the Ethereum block explorer, Etherscan. It's akin to having a miniature crypto dashboard right within your Google search. However, it's not universally available just yet, is it?"
Host 2:"Quite right, old chap. It's not yet universally available. However, Brantly Millegan, a former core team member of ENS, did mention that the feature tends to work more consistently when one opts for private browsing mode or logs out of Google services."
Host 1:"Absolutely fascinating. For our esteemed audience members who may not be acquainted with it, the Ethereum Name Service, or ENS, offers the opportunity to acquire a ".eth" domain that functions within the Ethereum network. It's a rather clever method of substituting the intricate and haphazardly generated alphanumeric characters of a typical Ethereum wallet address with more easily identifiable and legible words. It's akin to replacing your house number with your own name, isn't it?"
Host 2:"Indeed, it's all about facilitating the seamless transfer of funds within the Ethereum network. And let's not forget, Google has been dipping its toes into the crypto waters for quite some time. As far back as May 2023, they rolled out native support for Ethereum wallet balances. This recent integration simply extends that functionality to encompass the ENS domains."
Host 1:"Ah, it appears that Google is truly immersing itself in the realm of cryptocurrency. One can't help but ponder what their next venture might entail. Perhaps they'll entertain the notion of accepting Bitcoin as payment for their cafeteria lunches! Quite the intriguing train of thought, wouldn't you say?"
Host 2:Who knows? But one thing's for sure, it's bound to be quite the spectacle. And if they do decide to embrace Bitcoin for their luncheons, I might just find myself submitting a job application!
Host 1:"Have you been keeping abreast of the latest in tech news? I've heard murmurs about the recent developments surrounding Worldcoin, that crypto venture spearheaded by Sam Altman. What are your thoughts on the matter?"
Host 2:Absolutely splendid! I've been keeping a close eye on it. They've made the decision to release the software for their Orb devices as open-source. It's all available on GitHub now. And for those of you who may be unfamiliar with Worldcoin, it's a project with the noble aim of distributing a new cryptocurrency to as many individuals as possible, utilizing these innovative Orb devices.
Host 1:"Absolutely spot on! And it's not just any old software. These are the fundamental components that enable the Orb to capture images, scan irises, and securely transfer the data to the app. Quite a remarkable stride toward transparency, wouldn't you agree?"
Host 2:Absolutely splendid! It's not just a matter of transparency, you see. They've also unveiled a new feature known as Personal Custody to address concerns about data privacy. Now, individuals can securely store their biometric data on their own devices and have complete control over its usage. It's akin to having your very own personal vault!
Host 1:"That's a splendid analogy! It marks a significant departure from their previous options, where users were faced with the choice of either having the Orb immediately delete their data after verification or allowing Worldcoin to encrypt and store it."
Host 2:"Absolutely splendid! And the most delightful aspect? Once the encrypted data is transmitted from the Orb to the app, there are no unencrypted copies of this data in existence. It's akin to dispatching a clandestine missive that only you have the privilege of deciphering!"
Host 1:"Quite reassuring, particularly in light of the close scrutiny Worldcoin has encountered from data regulators in various nations. Their steadfast assertion that they do not retain data once the Orbs generate a unique iris code is certainly noteworthy."
Host 2:"Absolutely, they've been quite resolute in their commitment to upholding all laws and regulations pertaining to the processing of personal data. It's a captivating project, and I'm genuinely looking forward to witnessing its evolution!"
Host 1:Me too! It's always exhilarating to witness the transformative power of technology. And speaking of the future...
Host 1:"Have you caught wind of the latest crypto chatter from Estonia, the Silicon Valley of Europe, my astute tech-savvy companion?"
Host 2:"The digital wonderland? You've piqued my interest, old chap!
Host 1:"Indeed, the Estonian government is concocting a new bill to regulate crypto asset service providers. It's currently awaiting the Parliament's seal of approval, I say."
Host 2:Ah, the timeless endeavor to rein in the enigmatic crypto realm. But what's the intriguing twist in this unfolding narrative?
Host 1:"The intriguing twist lies in the fact that if this bill receives approval, it will impose more stringent operational and reporting requirements on crypto firms. Furthermore, it will subject them to the scrutiny of the country's Financial Supervision Authority, or FSA, commencing in 2026."
Host 2:"So, it's akin to having a crypto nanny on the scene. But what about the firms already frolicking in Estonia's digital playground?"
Host 1:"Quite right, my dear fellow! They'll be required to obtain an FSA license by 2026. At present, they're merely adhering to anti-money laundering regulations and must register with the Financial Intelligence Unit."
Host 2:"And what if they decide to flout the regulations and dance to their own melody?"
Host 1:"Quite the hefty penalty, isn't it? Currently, flouting the anti-money laundering laws could set you back up to 40,000 euros. But with this new legislation, the fine could skyrocket to an eye-watering 5 million euros! Quite the deterrent, I must say."
Host 2:"Goodness, that's quite the substantial increase, isn't it? And it's not just Estonia, is it? The EU seems to be preparing to take on the role of the cryptocurrency regulator as well."
Host 1:Absolutely splendid! Estonia's proposed regulations are actually a step ahead of the EU's region-wide crypto regulations, known as Markets in Crypto Assets, or MiCA. This was given the green light in 2023 after three years of brainstorming.
Host 2:"And when does this MiCA start calling the shots?"
Host 1:"Ah, the regulations pertaining to stablecoins are set to come into effect in July 2024 across all 27 EU member states, Estonia included. As for the other facets concerning crypto asset service providers, they are scheduled to be implemented from January 2025 onward."
Host 2:"Ah, it appears that Estonia is endeavoring to harmonize its legislation with the MiCA. Quite the ambitious synchronization, wouldn't you say?"
Host 1:Absolutely, my dear fellow! The crypto world is indeed a tumultuous rollercoaster, wouldn't you agree?
Host 2:Absolutely splendid! It's always a delight to witness the evolution of these digital frontiers. Ladies and gentlemen, do stay tuned as we continue to navigate the captivating world of crypto!
Host 1:Always waxing lyrical about the cutting-edge developments in the world of technology and cryptocurrency, aren't you? But let's take a slight detour. Have you caught wind of the Information Technology University in Lahore, Pakistan?
Host 2:Ah, the one causing quite a stir in the tech sphere? Indeed, I've caught wind of it. They're set to introduce the nation's inaugural metaverse courses, aren't they?
Host 1:"Indeed! And for our esteemed audience members who may be curious, the metaverse represents a virtual reality realm where individuals can engage with a computer-generated environment and interact with fellow users. It's akin to stepping into the midst of a captivating science fiction narrative, wouldn't you agree?"
Host 2:"Absolutely captivating! It's not just about the cutting-edge technology; it's about enhancing the academic prowess of the students. Ibrahim Ghaznavi, the esteemed head of their Computer Sciences Department, exudes a remarkable confidence in this endeavor, wouldn't you say?"
Host 1:"And they're not going at it alone, you know. They've crafted this educational metaverse experience in partnership with the University of Denmark. And would you believe it, they've drawn inspiration from none other than MIT while putting together the program."
Host 2:"Quite the formidable academic artillery! And this isn't their maiden voyage into the realm of online education. They had already unveiled online courses during the COVID-19 pandemic. However, this metaverse experience takes it to an entirely new echelon."
Host 1:"Quite fascinating, isn't it? The ITU, established in 2012 in Lahore, aspires to mirror the triumphs of MIT in the realms of technology and engineering. They've forged partnerships with esteemed institutions and corporations such as Harvard University and IBM, quite an impressive feat, I must say."
Host 2:"Absolutely splendid! It's akin to witnessing the birth of a technological empire right in the heart of Lahore. I'm positively eager to witness the unfolding of this metaverse initiative. And fear not, dear audience, for we shall keep you abreast of this thrilling development!"