Search Results for "terraform labs"
Prosecutors Investigate Do Kwon with Ponzi Fraud Charges amid Terraform Labs Dissolvement
South Korean Prosecutors are investigating Do Kwon if they will file Ponzi fraud charges against him following the Terra crash.
South Korea seizes $104M from Terra's co-founder on unjust earnings.
South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion of unfair profits. The decision to freeze Shin's asset worth over $104 million was approved by the Seoul Southern District Court. The claim related to Shin's involvement in selling pre-issued Terra tokens to unwary investors.
LUNA and UST Crash Could Have Been Averted if Bitcoin Reserves were Used Earlier, Binance CEO Says
The collapse of LUNA and UST, the native tokens of the Terra network, could have been avoided if the Luna Foundation Guard (LFG) had used its Bitcoin reserves earlier, according to Binance CEO Changpeng Zhao (CZ).
Terraform Labs Sues US SEC for Illegally Issuing a Subpoena on its CEO
Terraform Labs, the Singapore-based blockchain startup behind the Terra protocol has filed a lawsuit against the United States Securities and Exchange Commission for allegedly issuing an illegal Subpoena on its Chief Executive Officer.
SEC Seeks $5.3B Judgment Against Terraform Labs and Do Kwon
The US Securities and Exchange Commission (SEC) has filed a motion for billions of dollars in disgorgement and civil penalties against Terraform Labs and co-founder Do Kwon. The SEC is seeking $4.7 billion in disgorgement and prejudgment interest, along with $520 million in civil penalties. Terraform and Kwon have proposed lower penalties, and the SEC is also considering additional measures to prevent future violations.
Second Circuit Court Order's Terraform Labs and Do Kwon to Comply With SEC's Subpoena
The 2nd US Circuit Court of Appeals has upheld a ruling that compels blockchain startup Terraform Labs and its co-founder Do Kwon to comply with a September 2021 Subpoena that served him at a New York Conference.
Terraform Labs CEO Sent $7 Billion to Law Firm Before Ecosystem Collapse
South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon sent $7 billion to a top South Korean law firm, Kim & Chang, right before the collapse of the Terra ecosystem. The prosecutors believe that Kwon's decision to send the funds was a deliberate move that allegedly reaffirmed his awareness of the impending collapse and anticipated legal problems. The information is expected to help in the ongoing fraud case against Kwon and his associates.
Jump Crypto Enters Confidential Phase in SEC vs. Terraform Labs Case
Jump Crypto has been granted access to confidential documents in the SEC vs. Terraform Labs case, allegedly implicating them in the TerraUSD devaluation and Terra's collapse.
Terraform Labs Co-Founder Do Kwon Appeals Extended Detention
Terraform Labs co-founder Do Kwon will appeal the Montenegrin court’s decision to extend his detention time for up to 30 days. Kwon was caught using fake documents at the airport and was detained due to the high possibility of escape.
Singapore authorities investigate Terraform Labs
Singaporean police have launched an investigation into Terraform Labs, the company co-founded by Do Kwon, who was accused of fraud by the US Securities and Exchange Commission (SEC) last month. The SEC has alleged that Kwon laundered over $100m worth of bitcoin, which he had removed from the Terra platform, and converted to fiat.
SEC Agrees to Delay Terraform Labs Trial, Awaiting Do Kwon's Extradition
The SEC has postponed the trial of Terraform Labs and Do Kwon, pending Kwon's extradition to the US, for a $40 billion cryptocurrency fraud.
MAS Insists Terra, 3AC Unlicensed to Operate in Singapore
Ravi Menon, the managing director of the Monetary Authority of Singapore, indicated that crypto entities like Terraform Labs, the Luna Foundation Guard and Three Arrows Capital are unlicensed by MAS in Singapore.