GM, this is The Crypto Explorer, brace yourself, folks! Today's newsletter is guaranteed to knock your socks off!

Here’s what we got for you today:

• ⚖️ US court labels Apple's 30% commission “Unfair”

• 💈 Do Kwon files a motion to dismiss SEC charges

• 🧱 Around The Block: OpeaSea trial begins

⚖️ US Court Labels Apple's 30% Commission “Unfair”

Apple was found guilty of violating state competition laws.

Apple prevents app developers from using alternative in-app payment methods except for theirs (and charges a 30% commission).

The ruling was made by the United States Court of Appeals for the Ninth Circuit in the case of Apple vs Epic Games — the creator of the video game Fortnite.

This ruling is a game-changer for the crypto community.

With Apple's 30% commission off the table, crypto and NFT projects that wish to have their apps in Apple's store can now do so without much hindrance.

Hell! This is also a big win for every traditional business using Apple's app store.

30% commission is a lot, even God asks for 10%. 🤣

Tim Sweeney, the founder and chief executive of Epic Games is feeling pretty good about the ruling.

But let's not get ahead of ourselves, Apple will definitely appeal the case.

💈 Do Kwon Files Motion to Dismiss SEC Charges

Do Kwon, co-founder and CEO of Terraform Labs, has filed a motion to dismiss charges brought against him by the SEC.

The motion argues that the SEC's claims are invalid as tokens such as Mirror Protocol (MIR), Terra Classic (LUNC), and TerraUSD Classic (USTC) are not securities.

It also asserts that the agency lacked the jurisdiction to bring charges against Kwon and Terraform Labs since their tokens and projects were intended for a global audience and not specifically targeted at US investors.

Why the sudden boldness to demand dismissal?

A South Korean district court recently ruled that one of Kwon's tokens, Terra Classic (LUNC), is not a security under Korea's Capital Markets Act.

That's great news for Kwon, but Kwon's legal woes are certainly not over yet.🫠

For one, the Court ruling only supports Kwon's motion with respect to LUNC, and prosecutors are still hot on his heel.👮‍♂️🚨

At a press conference following the indictment of ten individuals linked to the collapse of the Terra stablecoin ecosystem, the prosecutor spilled the tea and identified Sygnum as the Swiss bank where Kwon transferred over 10,000 Bitcoin from the Terra platform and the Luna Foundation Guard (LFG) to a cold wallet, which was then converted to fiat.

And get this; the transferred amount which is approximately $100 million is consistent with the SEC's complaint.

Looks like Kwon has some explaining to do!

 🧱 Around The Block: OpeaSea Trial Begins

• ⚔️ Binance backs out: Binance US is backing out of $1B Voyager asset purchase, and blames the regulatory environment.

• 🤝 FTX sells LedgerX: FTX sells LedgerX for $50M to an affiliate of a Miami-based exchange holding company

• 🥴 New Demands: Genesis settlement disrupted by new creditor demands, DCG says

• 🌊 OpeaSea trial begins: OpenSea ‘insider trading’ trial kicked off in New York district court

That's all we have for today.

We'd love your feedback.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research