Bitrue Bulletin | 8.5.2023–14.5.2023

3 min readMay 15, 2023


| 8.5.2023–14.5.2023 |

Terra Labs Co-founder Do Kwon Granted €400,000 Bail in Montenegro Amidst Legal Proceedings — Do Kwon, the co-founder of Terra Labs, has been granted bail amounting to €400,000 ($436,000) by a court in Montenegro as he awaits trial. Kwon, who gained notoriety for his involvement in Terraform Labs’ stablecoin, TerraUSD, which collapsed last year, is currently facing legal proceedings in South Korea and the United States.

Elon Musk Transitions to CTO Role as Twitter Prepares for New CEO — In a notable change of leadership, Elon Musk, the CEO of Twitter, has announced his decision to step down from the position. However, he will remain actively involved in the company as its Chief Technology Officer (CTO). Speculations are rife that the potential candidate for the CEO role is Linda Yaccarino from NBC Universal, as Twitter prepares for a new chapter under fresh leadership.

Ethereum Hits 6-Week Lows Despite Decrease in ETH Held on Exchanges — Despite a decline in the amount of Ethereum held on exchanges, ETH has experienced a crash, reaching six-week lows. Surprisingly, the percentage of Ethereum stored on exchanges has dwindled to just 10.3%. This downward trend in both Ethereum’s price and its presence on exchanges highlights a challenging period for the cryptocurrency.


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Read about the Highlights From Bitrue x Polygon’s “Ask Me Anything” Session on Twitter Spaces here. In another edition of Bitrue’s Twitter Spaces AMA, we have invited a very special guest, Aishwary Gupta, Head of Fintech from Polygon to talk about Polygon zkEVM, Polygon ID, and everything Polygon.

Tune into Bitrue x Gala Games’ “Ask Me Anything” Session on Twitter Space here. President of Blockchain Gala, Jason Brink, joined us and discussed the recent developments and upcoming events at Gala Games.




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