Creditors must file claims by April 30, 2025, to seek potential recovery.
Terraform Labs, the bankrupt firm behind the failed TerraUSD (UST) stablecoin, has launched a crypto claims portal. This platform is designed to compensate users affected by the project’s dramatic crash in 2022. Creditors can submit claims between March 31 and April 30, 2025. Claims submitted after the deadline will not be considered. To file a […]
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Prosecutors are currently working to unlock four of Kwon’s cell phones provided by Montenegrin authorities.
As part of discovery proceedings, prosecutors said they would search the Terraform Labs co-founder’s emails and Twitter account.
Do Kwon, the former CEO of Terraform Labs, is currently under intensive investigation by US officials who allege that he committed fraud that affected over a million people worldwide. During Kwon’s trial in a New York court, prosecutors provided a detailed account of the far-reaching consequences of his alleged financial misconduct. Related Reading: Crypto Survival […]
The Terraform Labs co-founder is in US custody after pleading not guilty to nine felony charges related to fraud at the platform.
Kwon's Terraform Labs developed the luna cryptocurrency and stablecoin terraUSD, which folded in 2022, losing an estimated $40 billion
Do Kwon was apprehended by law enforcement in Montenegro in June 2023 after attempting to flee the country with a false passport.
While the extradition of Do Kwon has not yet been decided in Montenegro, the spouse of Terraform Labs founder, Ms. Lee scored a major legal victory against the South Korean state. The court ruled that certain real estate shares and officetel subscription rights, previously seized under the name of Ms. Lee should not have been […]
The bankrupt Terraform Labs is looking to sell four of its companies as it winds down operations to comply with its multi-billion SEC deal.
Kanav Kariya announced his resignation amid reports of a pending investigation into Jump Crypto’s activities and several incidents dating back to 2022.
Montenegro’s Prime Minister Milojko Spajić was an early investor in the failed Terra Luna coin and may have lost millions to the ecosystem’s implosion in 2022, according to recent court documents filed by the US Securities and Exchange Commission (SEC). Before becoming prime minister, Spajić was a crypto entrepreneur. In April 2018, just before Terraform […]
The post Montenegro prime minister reportedly an early investor in defunct Terraform Labs appeared first on CryptoSlate.
Prime Minister Spajic was among the early investors who invested in Terraform Labs just days before it was registered in Singapore on April 23, 2018.
Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
The U.S. SEC still has to queue up behind secured creditors to receive a payment from Terraform Labs’ multibillion-dollar settlement, if any.
Terraform Labs and CEO Do Kwon are finalizing a settlement with the SEC. Both parties are expected to submit the final terms for court approval by mid-June.
Terraform Labs and co-founder Do Kwon have tentatively agreed to settle a fraud case with the U.S. Securities and Exchange Commission (SEC), according to a court filing Thursday.
Binance, the world’s largest crypto exchange by volume has executed another large-scale Terra Classic (LUNC) burn, continuing its supporting role for the Terra Classic ecosystem. Despite the substantial supply reduction, the price of LUNC and its daily trading volume have been falling significantly. Binance Burns LUNC Tokens On May 23, Binance initiated another LUNC burn […]
Since his arrest in March 2023, Do Kwon has been in Montenegro. He could be extradited to either his native South Korea or the United States to face fraud charges.
The Terra community isn’t relenting in its efforts to revive the LUNC and USTC tokens and take them back to their old glory days. This time, the community has proposed a proposal to ensure that the Luna Classic’s (LUNC) circulating supply data is well documented. Terra Community Proposes All Allnodes As An Official Organization The […]
Lawyers for the commission cited several examples of Do Kwon touting UST to U.S. investors and Terraform’s former communications head making false claims about the stablecoin.
The SEC proposed that Do Kwon and Terraform pay roughly $5.3 billion in disgorgement, prejudgment interest and civil penalties, while the firm’s team suggested only $1 million.
The question of the Terraform co-founder’s extradition to either the U.S. or South Korea has been bouncing between lower and higher courts in Montenegro for months.
After a jury found Terraform Labs and Do Kwon liable for fraud in its case with the SEC, the commission filed a motion requesting $5.3 billion in disgorgement and civil penalties.
"A lot of things can go wrong," in Ethena's yield-generation strategy, said Folkvang CEO Mike van Rossum.
According to a Friday report by Bloomberg, a United States jury found Terraform Labs and its co-founder Do Kwon liable for civil fraud over the crash of the Terra ecosystem in 2022. This development comes as Do Kwon continues to battle criminal cases in the US and South Korea over the sudden collapse of the […]
The SEC accused Kwon and his company of misleading investors about the stability of their so-called “algorithmic stablecoin” Terra USD.
The civil trial between the U.S. Securities and Exchange Commission and Terraform Labs entered its tenth day without the attendance of Do Kwon.
Andre Cronje warns that while "things are going great now" such a momentum in the crypto space would eventually turn.
Without naming the protocol, Andre Cronje shared his concerns about negative funding rates potentially leading to an “unbacked asset.”