Today in Crypto: PGA Inks Partnership With Tom Brady’s NFT Marketplace Autograph

As cryptocurrencies slid Monday, bitcoin hit a three-month low, Bloomberg wrote.

The sentiment took a hit because of a spate of financial tightening that will happen this week in both Europe and the U.S.

The coin’s price fell 7.4% to $18,273 before paring losses, the lowest since digital-asset prices fell after Celsius collapsed in June.

Meanwhile, prosecutors in South Korea have asked Interpol to issue a red notice against Do Kwon, the cofounder of the now-collapsed Terraform Labs, Financial Times (FT) wrote.

The prosecutors said he has not cooperated with an investigation into the $40 billion implosion of the terraUSD and luna tokens.

The Seoul Southern District Prosecutors’ Office said it has asked Seoul’s foreign ministry to cancel Kwon’s South Korean passport, saying he was on the run and “obviously” wouldn’t be appearing for questioning.

In further crypto news, the founder of a crypto investment research firm has been accused by the SEC of promoting an initial coin offering without disclosing he’d been paid $5 million for that, Bloomberg wrote.

Ian Balina had allegedly promoted the SPRK token on various social media and did not say he had been paid by the company that offered it. The report noted that the description matches Token Metrics, an Austin firm providing AI-based crypto ratings and price predictions.

Balina is a self-described crypto asset investor, promoter and influencer, and has documented his investment process online.

Additionally, ethereum investments have seen outflows totaling $15.4 million, with investors weighing the blockchain’s Merge to a proof-of-stake consensus mechanism, Seeking Alpha wrote.

The token itself has fallen 16% in the last five sessions.

Mike Alfred, who is on the board of directors for crypto exchange Iris Energy, said the outflows are happening because nobody “wants to participate in a system controlled by wealthy devs who can change the rules at the drop of a hat,” calling it a “bloodbath.”

Finally, the PGA is partnering with Autograph, the NFT marketplace run by U.S. football quarterback Tom Brady, in order to make its own NFT platform, Coindesk wrote.

The combination will see NFTs made from the PGA’s archive of videos and player data – and all the revenue will go to the players, reports said.

The system will debut sometime early next year.