Do Kwon faces legal troubles in Korea, China remains a top contributor to Bitcoin mining, and Ethereum eyes ‘huge testing milestone’ ahead of merge: Hodler’s Digest, May 15-21

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Court documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crash

Terraform Labs co-founder dissolved two of the entity’s locations in South Korea, as well as Terraform Labs Korea, just prior to the LUNA and UST collapse, according to legal documents. Although the decision to dissolve the offices was made during an April 30 shareholder meeting, the timing raised eyebrows within the cryptocurrency community. 

As one might expect, the aftermath of Terra’s implosion continued to reverberate across the market this week. South Korea’s government is looking into the situation and Do Kwon himself could be summoned to a parliamentary hearing.




‘Huge testing milestone‘ for Ethereum: Ropsten testnet Merge set for June 8

In the first half of June, Ethereum’s Ropsten testnet merge is scheduled to commence. Put simply, the event will simulate the Ethereum proof-of-work (PoW) mainnet and Ethereum proof-of-stake (PoS) Beacon Chain merge.

“Ropsten testnet is getting merged on June 8!” said Prysmatic Labs Ethereum core developer Preston Van Loon. “Merging Ropsten is a huge testing milestone towards Ethereum’s mainnet merge later this year.”

Further reporting indicates an August target for the actual merge.


China returns as 2nd top Bitcoin mining hub despite the crypto ban

Although China banned crypto in 2021, the country still accounts for about 21% of Bitcoin’s mining power as of January 2022, according to data from the Cambridge Bitcoin Electricity Consumption Index (CBECI). 

Back in 2019, China held over 75% of the world’s Bitcoin hash rate. Although 21% is a step down from its former glory, the number puts China in second place in terms of BTC’s global hash rate, with the United States in first. The CBECI also included data on other countries, revealing that the states of Kentucky, Georgia…



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