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Do Kwon Fans Emerge to Support Anti-FatMan Terra Justice Token

FatMan Terra is crypto's latest villain, Kyle Davies flaunts Singapore citizenship to avoid US lawsuits, MicroStrategy smashes earnings, FTX reboots, ApeCoin hits a new low, and Binance has a Japan moment.

August 2, 2023

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Perhaps built on an era of anti-hero television, the crypto community appears to be drawing their inspirations from the wrong sources. Although not quite matching the glamour or finesse of Tony Soprano or Walter White, it seems Kyle Davies and Do Kwon are now gathering a cult following whilst LUNA whistleblower FatMan Terra is somehow becoming the enemy.

Davies, along with his 3AC partner in crime Su Zhu, announced the launch of a new "Justice" token through their newly founded crypto exchange Open Exchange (OPNX). The token specifically targets FatMan Terra, who exposed Terraform Labs.

Do Kwon Breaks Silence But Interviewer Accused of Shilling
The Luna founder has resurfaced in a brand-new news outlet, painting himself as a failure while defending his actions.

Justice tokens will be distributed to holders of RLB, LUNA, LUNC, and OX, as these communities allegedly suffered from Fatman's campaign, which OPNX described as "long-term malicious disinformation."

Despite the trauma caused by Do Kwon and his house of cards, it seems the community is backing Justice Tokens, which saw a price surge of 22%. As a result, FatMan has received threats against him and his family.

Much of OPNX's support comes from alleged revelations from Lucky, co-founder of crypto casino Rollbit, accusing FatMan of spreading FUD, racism and homophobia.

FatMan initially brushed off the attack against him, tweeting "There's no way you guys are turning this into a scam too lmao," but his facetiousness has quickly turned into fear.

"I genuinely fear for the safety of myself and my loved ones. I am receiving new threats hourly. This is not how an honest casino behaves. This is a mafia. I'm not quite sure what to do," FatMan tweeted.

Comments are far from sympathetic towards the anonymous crypto Twitter name. "Why did you start scrubbing discord if you’re so innocent," questioned on tweeter. "real shame you ruined any shred of credibility you ever had," another said.

"This is quite fascinating. I have never seen someone handle a situation as poorly as you have with this. And based on the community we’re talking about here, that’s SAYING something. You seriously need to deactivate and start a new account," advised one Twitter user.

Do Kwon supporters also came out of the woodwork. "I still remember how you wanna hunt down Do kwon and you didn’t care about his safety. I don’t believe what you are saying (again). Looking forward to seeing your pictures ,real name and adress," tweeted one fan.

"Ask @stablekwon for forgiveness," said another.

Elsewhere:

  • Jurisdiction Jumble: Kyle Davies has thumbed his nose at US court jurisdiction, making us wonder if this could be a game of international legal dodgeball. The co-founder of 3AC refused to acknowledge the US' jurisdiction saying that he became a permanent resident of Singapore in 2017. Court filings include a copy of his passport from Singapore, which doesn't allow dual citizenship. 3AC’s liquidators are currently trying to recover $1.3 billion from Davies and co-founder Su Zhu.
  • The Midas Touch: Fortune truly favours the brave. MicroStrategy has shown that its heft bet on Bitcoin wasn't just a gamble, but a masterstroke in the art of digital-age investing. The firm's reported second quarter EPS of $2.35 was $2.54 better than the analyst estimate of $-0.19. Revenue for the quarter came in at $120.4 million versus the consensus estimate of $123.66 million. As of July 28, the company owned an estimated 152,333 bitcoins worth roughly $4.5 billion, having most recently acquired 12,333 bitcoin for $347 million in cash between April 29 and June 27. Bitcoin is currently trading at $29,293, up about 77% year-to-date,
  • The Cat with Nine Lives: FTX is pushing forward with plans to reboot its international crypto exchange operations. Bankruptcy administrators have proposed that former non-US customers of FTX.com pool their assets to create what it calls an “offshore exchange company” or a “rebooted” platform.
  • Artificial Intelligence, Real Profits: Bored Ape-themed Ethereum token ApeCoin hit a new low os $1.77 this week, or more than 93% down from its all-time high. The token is the 65th largest in the market in terms of market cap, at $675 million. Despite current price dips, Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) NFT collection, is continuing to invest and innovate, playing the long game in the evolving Web3 landscape. It just acquired Roar Studios, aiming to tap on their AI expertise. As a part of the acquisition, Roar Studios dounder and CEO Eric Reid will join Yuga Labs as the general manager of Otherside, Yuga Labs’ forthcoming blockchain-powered metaverse game.
  • Shining the Crypto Laser: Nomura blasts off with its Swiss-headquartered crypto arm Laser Digital, aiming to make a bang in the digital universe with their newly acquired Dubai license. The permit allows Laser Digital to launch crypto trading and asset management services. Launched in the throes of crypto winter last September, Nomura's entry sends a strong signal to other institutional players about the growing relevance and potential of crypto. In June this year, it acquired trading solutions firm Elysium Technology Group to provide post-trade services to institutional crypto investors.
  • Land of the Rising Zhao: Binance has started offering services in Japan through its subsidiary Binance Japan after acquiring Tokyo-based crypto platform Sakura Exchange BitCoin in November 2022. Current Japanese customers will have access to Binance's global platform until December, which is now unavailable for new users. Binance Japan will provide access to 34 virtual currencies and will serve as the largest cryptocurrency exchange in Japan. Binance CEO Changpeng Zhao also revealed in a Twitter space last night that the firm aims to introduce smaller algorithmic stablecoins to provide investors with alternatives to major stablecoins like Tether and Binance USD. The move comes as CZ expressed concerns about the lack of transparency in large stablecoins. Binance plans to launch the First Digital USD in Hong Kong and explore new stablecoin options in Europe.

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