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TerraUSD Creator Do Kwon Faces Potential US Extradition As Montenegro's Legal Chief Shows Inclination
Thursday, December 7, 2023 - 12:35pm | 305Montenegro'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...
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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....
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Celsius CEO Arrested In Wake Of Crypto Lender's Collapse, SEC Files Securities Fraud Lawsuit
Thursday, July 13, 2023 - 9:50am | 383The 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...
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Did A Crypto Entity Make Billions From TerraUSD Stablecoin Before Its Collapse? The Shocking Truth Exposed
Tuesday, May 16, 2023 - 1:59pm | 483The 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...
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Crypto's Most Wanted: Terra Co-Founder Arrested, Partner Indicted, Billions Frozen
Tuesday, April 25, 2023 - 12:17pm | 371South 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...
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Do Kwon Faces Justice: New Details On Dramatic Takedown, Extradition Showdown
Friday, March 24, 2023 - 11:57am | 477Montenegro 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...
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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....
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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...
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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...
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Could Terra's Stablecoin Struggles Affect The Circle SPAC Deal And Valuation?
Thursday, May 19, 2022 - 5:48pm | 744Stablecoins 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 ...
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Was Terra (LUNA) A Pyramid Scheme? Here's What Bill Ackman Says
Wednesday, May 18, 2022 - 12:38pm | 582The 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 (...
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Terra (LUNA) Blow-Up One Of The 'Largest Fiascos' In Crypto Market History, Ark Says
Tuesday, May 17, 2022 - 6:29am | 456TerraUSD (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: ...
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Bitcoin Sees $299M Weekly Inflows Despite Terra (LUNA) Disaster
Tuesday, May 17, 2022 - 4:24am | 373Bitcoin (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...
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Do Kwon Proposes Terra Hard Fork, Airdrop To TerraUSD, LUNA Holders
Tuesday, May 17, 2022 - 12:10am | 694Terra (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....
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'Not All Bad Things Are The Same Bad Thing': Why Is FTX CEO Sam Bankman-Fried Comparing Luna To Netflix?
Monday, May 16, 2022 - 3:25pm | 655The 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...