TerraUSD

Montenegro's chief legal officer has expressed intentions to extradite the embattled cryptocurrency fugitive Do Kwon to the United States, bypassing South Korea. The Wall Street Journal reported the developments, quoting sources close to the situation. Since his arrest in...

Terraform 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....

The former CEO and co-founder of the now-defunct cryptocurrency lender Celsius (CRYPTO: CEL), Alex Mashinsky, was taken into custody on Thursday. This arrest comes in the wake of a Department of Justice inquiry into the downfall of the company, Bloomberg reported, quoting sources. The...

The U.S. Securities and Exchange Commission's (SEC) legal documents have substantiated that Jump Trading, a crypto trading entity, played a pivotal role in rescuing the struggling algorithmic stablecoin TerraUSD (CRYPTO: USTC), spearheaded by Do Kwon, a year prior to its eventual downfall. Jump...

South Korean authorities have brought charges against Daniel Shin, co-founder of Terraform Labs, and nine other individuals for various offenses, including breaches of capital market regulations. The Seoul Southern District Prosecutors' Office announced that it has so far frozen 246.8 billion...

Montenegro has charged South Korean fugitive and cryptocurrency entrepreneur Do Kwon with forgery, and he is expected to face extradition proceedings in court. Kwon is accused of fraud following his company's abrupt collapse in 2022, which erased about $40 billion of investor funds and...

Terraform 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....

In 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has a $76.8 million exposure to the beleaguered cryptocurrency exchange, out of which $47.5 million is currently being withdrawn.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...

Bankrupt 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...

Stablecoins have dominated the headlines in the world of cryptocurrency this week with the crash of several coins. The downward moves and negative connotations building for stablecoins could spell trouble for a SPAC deal that involves a leading stablecoin company. What Happened: A SPAC deal ...

The collapse of cryptocurrency Terra has been one of the most talked-about topics in the crypto world over the past few weeks. A famous hedge fund manager weighed in with his take on the situation and offered up a harsh comparison. What Happened: Blockchain protocol Terra has a token called Terra (...

TerraUSD (CRYPTO: UST) losing its peg to the dollar and the subsequent blow-up seen in Terra (CRYPTO: LUNA) was termed one of the “largest fiascos” in cryptocurrency market history by Frank Downing, an analyst with Cathie Wood-led Ark Invest. What Happened: ...

Bitcoin (CRYPTO: BTC) recorded its largest weekly inflows this year even as the chaos surrounding Terra (CRYPTO: LUNA) sent markets plummeting last week. What Happened: According to last week’s CoinShares report examining fund flows into digital asset products, Bitcoin saw $298.6 million...

Terra (CRYPTO: LUNA) founder Do Kwon has proposed a blockchain hard fork to revive the project’s ecosystem. What Happened: In an announcement on Monday, Kwon put forward a governance proposal to fork Terra into a new chain without an algorithmic stablecoin....

The CEO of one of the largest cryptocurrency platforms shared his take on the collapse of Terra (CRYPTO: LUNA) and the stablecoin TerraUSD (CRYPTO: UST) associated with it. What Happened: In a Twitter Inc (NYSE: TWTR) thread, FTX co-founder and CEO Sam Bankman-Fried shared that “not all bad...