-
US Loses Out To South Korea Over Extradition Of Terraform Labs' Do Kwon
Thursday, August 1, 2024 - 11:47pm | 631Do Kwon, the disgraced co-founder of Terraform Labs, is set to be extradited from Montenegro to South Korea, as per a court ruling. The decision rejects a U.S. extradition request. What Happened: The Appellate Court of Montenegro upheld a previous decision by the High Court of Podgorica to hand...
-
Do Kwon, Terraform Labs Tell Court: SEC Hasn't Proven 'Defendants Did Anything Wrong'
Monday, October 30, 2023 - 2:49pm | 635Terraform Labs and its co-founder, Do Kwon, have approached a federal court to stand by their defense against the U.S. Securities and Exchange Commission's (SEC) allegations of fraud. They argue that the SEC has failed to provide solid evidence that the crypto entity dealt with securities....
-
Will USTC Recover? Terra Classic Community Discontinues Minting, Votes To Burn
Monday, September 25, 2023 - 11:10am | 408TerraUSD Classic’s (CRYPTO: UST) minting will cease after a community vote on the stablecoin's governance forum. This led to a 59% vote of approval to stop all USTC mining, while 40% opposed it. The community's proposal also ends all conversion of xUST to mint USTC. Find out...
-
Do Kwon's Lawyers Dismiss SEC's Securities Fraud Allegation, Say Agency Is Using Antiquated Laws To Regulate Cryptocurrencies
Sunday, April 23, 2023 - 4:00pm | 428In a court filing last Friday, lawyers for Terra (CRYPTO: LUNA) cofounder Do Kwon asked a judge to dismiss the U.S. Securities and Exchange Commission's lawsuit against the disgraced crypto CEO, asserting that the regulatory agency's accusation ...
-
Terra Founder Do Kwon Converted All His Assets From LUNA To Bitcoin Just Before His Arrest, Report Reveals
Sunday, April 9, 2023 - 4:08pm | 453A recent report has revealed that Terra (CRYPTO: LUNA) cofounder Do Kwon, who was arrested in March for his alleged role in the collapse of the $40 billion Terra ecosystem in May 2022, appears to have converted most of his properties into Bitcoin (CRYPTO: BTC). The...
-
Terraform Labs Founder Do Kwon Transfers 10,000 Bitcoin To Swiss Bank Amid Allegations Of Fraud
Friday, February 17, 2023 - 11:22am | 437Terraform Labs founder Do Kwon is once again at the center of a high-profile cryptocurrency scandal, with the U.S. Securities and Exchange Commission filing a lawsuit against him and his company, alleging that they engaged in fraudulent activities that led to losses of at least $40 billion....
-
Former Tmon CEO Facing Arrest Over Terra (LUNA) Bribery Charges
Wednesday, February 15, 2023 - 1:18pm | 532South Korean prosecutors have recently requested an arrest warrant for a former CEO of Tmon, a popular e-commerce platform, and a broker, in connection to bribery charges involving Terra, previously known as Luna (CRYPTO: LUNA), and now Terra Classic, (CRYPTO: LUNC). What Happened: The prosecutor...
-
You Think FTX Was Bad? Investors Suffered Far Greater Losses From Terra: Report
Thursday, December 15, 2022 - 12:00pm | 407The collapse of cryptocurrency exchange FTX (CRYPTO: FTT) has not been the biggest concern for investors this year. Recall the de-pegging of Terra’s (CRYPTO: USTC) token and the collapse a few weeks later of Celsius and Three Arrows Capital (3AC) — investors suffered much bigger losses...
-
Billionaire Mike Novogratz Takes Another Hit: First Luna, Now FTX Is Costing His Crypto Firm Millions
Wednesday, November 9, 2022 - 4:19pm | 828In a startling revelation amid the fiasco surrounding FTX, Galaxy Digital Holdings Ltd (OTC: BRPHF) revealed it has a $76.8 million exposure to the beleaguered cryptocurrency exchange, out of which $47.5 million is currently being withdrawn. It already hasn't been a great 2022 for...
-
'Jail Isn't That Bad': Luna Collapse Fugitive Do Kwon, Ex-Con 'Pharma Bro' Shkreli Talk FTX-Binance Deal
Tuesday, November 8, 2022 - 3:45pm | 552Martin Shkreli, who became known for raising the price of a lifesaving drug by 5,000%, discussed the potential merger of the cryptocurrency exchange FTX with rival Binance Tuesday with Do Kwon, a South Korean fugitive. What Happened: “This is a depressing conversation,” Kwon said...
-
Fed Says Stablecoins Among Top Major Risks To Economy Over Next 18 Months
Monday, November 7, 2022 - 1:08am | 397Stablecoins pose massive risks to financial stability, and remain vulnerable to liquidity risks, according to a November Financial Stability report published by the U.S. Federal Reserve. What Happened: According to a survey by the Federal Reserve, over 20% of respondents believe that...
-
JPMorgan Chase Taps Ex-Celsius Exec To Lead Crypto - What's Dimon's Stance On Bitcoin, Ethereum Now?
Wednesday, October 19, 2022 - 4:20pm | 525JPMorgan Chase & Co. (NYSE: JPM) is deepening its crypto talent bench with a former Celsius Network (CRYPTO: CEL) employee. The New York-based firm hired Aaron Iovine as executive director of digital assets regulatory policy. According to Iovine's LinkedIn profile, he was with Celsius from...
-
3AC Being Investigated By SEC And CFTC: What Happens To Its Founders Now?
Tuesday, October 18, 2022 - 11:09am | 529Bankrupt crypto hedge fund firm Three Arrows Capital (3AC) is being probed by two U.S. regulators – the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) to ascertain if the fund violated rules by misrepresenting the health of its balance sheet to...
-
Terra (LUNA) Proposes Revival Plan, Allocating $248M For 'Fixing Errors'
Tuesday, October 18, 2022 - 2:54am | 388Developers of the Terra stablecoin ecosystem, which includes Luna Classic (CRYPTO: LUNC), TerraUSD Classic (CRYPTO: USTC), and Luna 2.0 (CRYPTO: LUNA), proposed an expansion plan in which they would allocate 95 million LUNA ($248 million) to...
-
Terra Backer Luna Foundation Guard Says Legal Battles Are Preventing Crypto Payouts
Sunday, October 9, 2022 - 1:47pm | 544The Luna Foundation Guard (LFG), a non-profit organization built to support the Terra (CRYPTO: LUNA) system, has said that due to ongoing legal battles, it has not been able to pay back smallholders of its collapsed Stablecoin. 1/ Since $UST’s depeg in May, there has been understandable...