Jump Crypto filed docs confidentially in SEC v. Terraform Labs case
A federal judge has accepted materials from Jump Crypto Holdings in discovery for the United States Securities and Exchange Commission (SEC) case against Terraform Labs.In a Nov. 28 filing in U.S. District Court for the Southern District of New York, Judge Jed Rakoff approved the confident ...
Do Kwon extradition approved by Montenegro court
The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States.The High Court of Podgorica has determined the legal requirements for Kwon’s extradition, according to an official statement po ...
CME Bitcoin futures hit record high, but uncertainty looms above $36K
Bitcoin (BTC) futures open interest at the Chicago Mercantile Exchange (CME) hit an all-time high of $3.65 billion on November 1. This metric considers the value of every contract in play for the remaining calendar months, where buyers (longs) and sellers (shorts) are continually matched.B ...
SEC seeks summary judgment in Do Kwon and Terraform Labs case
The United States Securities and Exchange Commission (SEC) has refuted the jury’s conclusion regarding Terraform Labs’ alleged violations and has demanded a summary judgment on all the claims. A court filing from Oct. 27 showed the SEC’s reluctance to accept the jury’s leniency on Do ...
From payments to DeFi: A closer look at the evolving stablecoin ecosystem
The rise of digital currencies, exemplified by Bitcoin (BTC), brought a groundbreaking shift in the financial landscape. However, it also brought to light a critical challenge: price volatility. Bitcoin and many other early cryptocurrencies exhibited extreme price fluctuations, making ...
Do Kwon and Terraform Labs ask judge to toss SEC’s lawsuit
Terraform Labs co-founder Do Kwon has requested a United States district judge to reject the securities and fraud suit from the federal securities regulator, claiming it has failed to prove they did anything wrong.In an Oct. 27 filing to a New York District Court, lawyers for Kwon and Terr ...
Terraform co-founder Shin blames protocol for collapse during trial in S. Korea
The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South Korea on Oct. 30, according to local news reports. Shin is accused of defrauding investors. Also at issue was wheth ...
Federal judge gives Genesis 5 days to comply with Terraform Labs subpoena
A United States judge has approved an order requiring Genesis Global entities to produce certain documents in accordance with a subpoena requested by Terraform Labs.In an Oct. 13 filing in U.S. District Court the Southern District of New York, Judge Jed Rakoff said Genesis would have 5 day ...
Terra Luna Classic Proposes Raising Minimum Deposit to Combat ‘Spam’ Proposals
The Terra Luna Classic community is currently engaged in voting on various proposals, but there are growing concerns regarding the surge in "spam" proposals, particularly following a decline in LUNA prices. In response to this issue, a fresh proposal has emerged, suggesting an increase in the minimu ...
Vauld Crypto Exchange Receives Court Approval for Board Restructuring
Vauld, a Singapore-based crypto exchange, that has been ongoing bankruptcy proceedings since August 2022, has said that it received permission from the court to restructure its board. The new top management will lead the company’s bailout process. On Aug. 24, Vauld’s co-founder Darshan Bathija ...
Bankruptcy judge signs off on order allowing Terraform Labs to subpoena FTX entities
A judge in the bankruptcy case for defunct crypto exchange FTX has issued an order allowing Terraform Labs to subpoena information that could be used in its case brought by the United States Securities and Exchange Commission.In a July 31 filing in the U.S. Bankruptcy Court for the Distric ...
Judge rejects motion to dismiss Terraform case, disagrees with Ripple decision
A United States Securities and Exchange Commission lawsuit against Terraform Labs is set to go ahead after a U.S. judge overseeing the case denied the firm’s motion to dismiss on July 31. In handing down the order, the judge also rejected a July 13 decision from U.S. District ...
Arkham Intel Exchange approves $5K bounty for info on Do Kwon and Terra wallets
A platform aimed at “deanonymizing the blockchain” has accepted its first submission concerning information on wallet addresses connected to Terraform Labs and its co-founder, Do Kwon.In a July 24 announcement, Arkham Intel Exchange said it had accepted a submission from t ...
Terra interim CEO says any ‘little progress’ made gets derailed by accusations
Terraform Labs faces a “big hill to climb” as the progress of its various projects in development are constantly being impeded by frequent accusations against Do Kwon, according to Terra’s new interim CEO Chris Amani.During a July 20 Twitter Spaces, titled A Terra Communi ...
Terraform Labs seeks access to FTX wallets in fraud defense
Terraform Labs is seeking permission from a judge to subpoena data from bankrupt crypto exchange FTX, claiming the information could help its defense against a lawsuit brought by the United States Securities and Exchange Commission (SEC) in February, a court filing shows. In a s ...
Legal proceedings start for Terraform Labs co-founder in South Korea: Report
Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, has reportedly had his first hearing for charges related to allegedly illicit profits from the sale of Terra (LUNA).According to a July 10 report from News1 Korea, a trial preparation hearing for Shin and seven ...
Binance conducts 11th LUNC burn, 2.65 billion tokens destroyed
Binance, the world’s largest crypto exchange, has burned 2.65 billion Terra Classic (LUNC) tokens in its 11th burn round.The total LUNC tokens burned by Binance now exceed 35.5 billion, with the community’s burn surpassing 68 billion. Traders have reacted positively to the burn ...
Terra Allies’ Six Samurai team aims to revive the ecosystem
After a joint governance proposal on liquid staking derivatives in Terra Classic (LUNC), a new proposal emerged for the next quarter suggesting the formation of a dedicated team consisting of six senior full-stack engineers.The Terra Allies senior full stack engineering team — known as the ...
Do Kwon denies forging passport, blames ‘Chinese’ agency: Report
Terraform Labs founder Do Kwon told a Montenegro court that he wasn’t aware the passport he was traveling with was allegedly forged and instead pinned the blame on a Chinese-named agency.In a June 17 report from South Korean news outlet Segye Ilbo, Kwon told the Montenegrin Basic Cou ...
Jump Trading seeks to move Terra class action suit to California
Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class action lawsuit against the firm moved from Illinois to a Northern district court in California, arguing that it would significantly speed up legal proceedings. The lawsuit was initially filed on May 9 by ...
Do Kwon could serve prison in both US and South Korea, prosecutor says
Terraform Labs co-founder and CEO Do Kwon may be subject to multiple sentences in the United States and South Korea, according to a senior South Korean prosecutor heading the investigation.It is understood that Kwon is currently serving house bail in Montenegro after having his bail propos ...
Google searches for ‘crypto’ fall to 2020 levels as BTC sentiment neutral
A two-month-long lull in cryptocurrency optimism has seen online search interest for “crypto” and other common cryptocurrency terms stumble down to late 2020 levels.According to data from Google Trends, the term “crypto” currently has a score of 17, which is well of ...
South Korean Court Freezes Assets of Do Kwon Worth $176 Million
This included luxury housing, bank deposits and cars The crook won't need them anytime soon A South Korean court has granted the local prosecutor's request to freeze Do Kwon's domestic assets and property worth 233.3 billion Korean won ($176 million). The asse ...
Founder of Terra, Do Kwon, charged with multiple criminal counts including fraud and market manipulation
Following the recent arrest of Do Kwon, the founder of Terra, in Montenegro, U.S. prosecutors have filed criminal charges against him on allegations of fraud, securities fraud, wire fraud, commodity fraud, and conspiracy to manipulate the market. The charges come as American law enforcement seeks ...