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Do Kwon Granted Bail at €400,000: Crypto Community Reacts

• Cardano’s new Hydra scaling solution goes live on mainnet as Ethereum gas fees surge.
• Linda Yaccarino appointed as Twitter’s new CEO.
• PEPE market cap slides below $500M, with traders swapping positions for the LADY token.

Cardano Hydra Scaling Solution Goes Live

Cardano has launched its new Hydra scaling solution on mainnet, providing a high-performance and cost-effective option for users of the blockchain network to process transactions simultaneously. The launch comes at a time when Ethereum gas fees are surging due to increased demand for DeFi applications and NFTs. The Hydra protocol is an innovative layer 2 scaling solution designed to handle thousands of transactions per second without compromising security or decentralization.

Twitter Appoints New CEO

Twitter has appointed Linda Yaccarino as its new Chief Executive Officer, replacing Jack Dorsey who will remain on the board of directors. Yaccarino was previously the Chair of Advertising & Partnerships at NBCUniversal and brings over 30 years of experience in media and advertising to her role at Twitter. She is also well-known for her advocacy for greater diversity in tech leadership roles.

PEPE Market Cap Slides Below $500M

The PEPE memecoin market capitalization has fallen below $500 million as community interest shifts towards other tokens such as Lady (LADYS). PEPE traded more than 70% away from its all-time high within a week, while whales like Machi Big Brother have been stockpiling it despite the decline in value. On-chain data shows that more memecoins are being developed, drawing widespread interest from entrepreneurs and crypto exchanges listing them.

Do Kwon Granted Bail

Do Kwon, co-founder of blockchain project ICON, has been granted bail by Seoul Central District Court at €400,000 against prosecutors wishes who requested that he remain in detention until his trial commences later this month. Do stands accused of embezzling close to €20 million from funds raised by ICON during their 2017 initial coin offering (ICO).

US Chamber Of Commerce Sides With Crypto Industry

The US Chamber of Commerce has sided with the crypto industry in criticizing the Securities and Exchange Commission (SEC)’s handling of digital asset regulation in a recent court filing regarding Ripple Labs Inc’s case against the regulator. In their filing, they argued that SEC’s approach creates regulatory uncertainty which could stifle innovation and hurt consumer protection laws if not addressed appropriately soon enough.