Relevant news about cryptocurrencies this week:
1. Do Kwon, founder of Terraform Labs, captured:
* Do Kwon, the founder of cryptocurrency company Terraform Labs, was arrested in Spain this week.
* Kwon had been on the run since the collapse of TerraUSD (UST), the company's stablecoin, in May 2022.
* The collapse of UST caused multi-million dollar losses for investors and created a crisis in the cryptocurrency market.
* Kwon faces fraud and money laundering charges.
2. SEC approves 11 Bitcoin exchange-traded funds:
* The US Securities and Exchange Commission (SEC) approved VanEck's application to launch 11 Bitcoin exchange-traded funds (ETFs).
* This is the first time the SEC has approved a “spot” Bitcoin ETF, meaning investors will be able to buy and sell shares of the fund directly on stock exchanges.
* The approval of Bitcoin ETFs could increase institutional investment in cryptocurrencies and contribute to their widespread adoption.
3. Mastercard wants to simplify sending cryptocurrencies to Latin America:
* Mastercard has partnered with financial technology company Hypercreatividad to develop a platform that allows users to send and receive cryptocurrencies in Latin America.
* The platform will use the Mastercard network to facilitate transactions, which could make sending cryptocurrencies faster, safer and more accessible to millions of people in the region.
*This initiative is part of Mastercard's effort to expand in the cryptocurrency market and offer its customers new products and services.
4. Ethereum recovers its best era due to ETFs:
* The price of Ethereum (ETH) has risen significantly in recent weeks, thanks in part to the approval of several ETH exchange-traded funds (ETFs) in the United States.