Nigeria lifts crypto ban, Do Kwon’s extradition canceled, 3AC assets frozen | Weekly Recap
In today’s weekly recap, the focus is on the proliferation of global regulatory efforts, with Nigeria finally lifting its ban on crypto currency transactions. Post-implosion developments surfaced, involving Do Kwon, 3AC and Sam Bankman-Fried. Do Kwon extradition overturned Recall that the Podgorica High Court approved the extradition of Terra founder Do Kwon to either South Korea or the United States. Subsequent reports suggested that the U.S. might be the favorite to receive the former fugitive. While both countries vied to secure custody of Do Kwon, reports from this week confirmed that the Montenegro Court of Appeal had overturned the earlier extradition approval. The court cited violations of criminal procedures. Court freezes assets belonging to 3AC Hedge fund Three Arrows Capital (3AC) saw a court in the British Virgin Islands freeze over $1 billion in assets belonging to the imploded hedge fund. As a result of this asset freeze, executives at 3AC — including ...