Alameda’s $38B IRS Bill, Do Kwon Kicked in the Assets, Milady Frenzy: Asia Express

The US Internal Revenue Service (IRS) has issued a $38 billion bill to the city of Alameda, California over unpaid taxes, as Milady token surges 3,000%. Plus, a restraining order has been obtained by Arthur Hayes over “threatening” words from 3AC. In this week’s edition of Asia Express, we recap these and other news stories from the continent. IRS wants $38B in unpaid taxes from Alameda Earlier this week, the IRS sent out an official notice to Alameda city ordering them to cough up an unpaid bill amounting to a hefty $38 billion. According to the report, the amount is due to tax debt arising from improper and illegal policies of the previous mayor. Alameda is currently in the process ofappealing the amount and is likely to pay a fraction ofthe bill upon conclusion of the appeal. Milady token surges 3,000% The Milady token, a cryptocurrency created by the popular Do Kwon exchange surged by over 3,000% in the past week alone. In order to better handle user demand and trading volumes, Do Kwon kicked in additional reserves of Milady tokens to ensure that the network remains stable. Restraining order for Arthur Hayes A restraining order has been obtained by Arthur Hayes, an executive at the Hong Kong-based cryptocurrency exchange 3AC, over “threatening” words made against a former employee. The employee, who is now a top rival of 3AC, claims that Hayes regularly exchange menacing tweets directed at her, even going so far as to mention her minor children in his tweets. Hayes and his attorneys are now attempting to appeal the restraining order. That wraps up this week’s edition of Asia Express. Be sure to stay tuned for more news from the continent in the coming week.