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Robinhood Expands BTC, ETH and SOL Trading to EU, Terra's Do Kwon to Face Extradition Nightmare, Ripple Stablecoin Project in Palau Completes 1st Phase: Crypto News Digest by U.Today

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Fri, 8/12/2023 - 16:11
Robinhood Expands BTC, ETH and SOL Trading to EU, Terra's Do Kwon to Face Extradition Nightmare, Ripple Stablecoin Project in Palau Completes 1st Phase: Crypto News Digest by U.Today
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U.Today provides you with an overview of the past day's crypto events with the top three news stories.

Robinhood expands BTC, ETH and SOL trading to EU

Robinhood commission-free brokerage firm recently announced on its blog that it is launching Robinhood Crypto app to all eligible customers in the European Union (EU). They will now be able to trade Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), in addition to the more than 25 digital currencies it is currently supporting. Robinhood Crypto's GM Johann Kerbrat stated that the launch of crypto trading in the EU is one of the company’s approaches to truly democratizing finance. For this reason, Robinhood is thrilled to expand crypto trading to customers throughout the EU, enabling them to buy and sell their crypto tokens safely and securely.

Terra's Do Kwon to face extradition nightmare

As recently reported by The Wall Street Journal, Do Kwon, the notorious founder of Terraform Labs, may be extradited to the United States, according to plans stated by Andrej Milovic, Montenegro Justice Minister. This decision comes amid an international dispute over Kwon's custody, with both the U.S. and South Korea fighting for his extradition. Kwon is facing charges in the U.S. for fraud and securities law violations in connection with the $40 billion collapse of his cryptocurrencies, TerraUSD and Luna, in May 2022. A Montenegro court approved Kwon's extradition last month, leaving the final decision to Minister Milovic.

Ripple's stablecoin project in Palau moves forward with first phase

Jay Hunter Anson, the program director and Palau Stablecoin (PSC) distribution officer for the Palau stablecoin pilot, has recently taken to X to share the report on the first phase of the Palau Stablecoin Pilot Project. The project was launched in July this year by Ripple and the Republic of Palau after both began collaborating on exploring potential use cases in 2021. According to the report, Palau Stablecoin Program phase one was a success among both volunteers and retailers, with both responding positively to the value proposition offered by the Palau stablecoin (PSC) as a digital payment system. The majority of participants said that if the Palau government approved national deployment, they would support PSC use.

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