Tag Archives: Terra (LUNA)

A United States judge has ruled that the Securities and Exchange Commission (SEC) can seek assistance from the South Korean government in interviewing Daniel Shin, co-founder of Terraform Labs, along with Do Kwon. US District Judge Jed Rakoff ruled on Thursday that the SEC is permitted to utilize a procedure outlined in a 1970 treaty that regulates international evidence-gathering requests. Despite denying any misconduct, Kwon did not contest SEC’s request. As part of the...

The blockchain company Terraform Labs has reportedly named Chris Amani its new Chief Executive Officer. He vowed to shift the entity’s products toward other directions and not offer algorithmic stablecoins.  The previous CEO, Do Kwon, resigned several months ago to focus on his legal issues. He is currently imprisoned in Montenegro, while the USA and South Korea have argued he is the main culprit behind the LUNA/UST crash last year, insisting on his extradition. Steering Away...

A court in Montenegro has found Do Kwon guilty of document forgery and has sentenced him to jail. Kwon will remain in custody longer pending the country’s response to an extradition request. CEO and co-founder of Terraform Labs Do Kwon has been found guilty of document forgery and sentenced to a four-month jail term. Kwon was convicted and sentenced by a Basic Court in Podgorica, the capital of Montenegro. Authorities in Montenegro arrested Do Kwon back in March for carrying fake...

Do Kwon, who was recently arrested in Montenegro after evading authorities for months, claimed that he had no idea the Costa Rican passport he was traveling with was fake. He admitted that he received the passport from an agency in Singapore. Ever since the catastrophic collapse of the Terra ecosystem a year ago, Do Kwon, the person behind the protocol, has been blamed by many for his role. Although he claimed he was not trying to escape from the authorities, his location was...

The authorities of Montenegro reportedly consider extending Do Kwon’s custody in the country for another six months before taking an official decision on his possible extradition. The homeland of Terraform Labs’ co-founder – South Korea – and the world’s biggest economy – the United States of America – have both requested his deportation. The Montenegrin police arrested the 31-year-old developer in March this year after he was supposedly on the run for several months,...

Dan Sunghan – Director of the Financial Crime Investigation Bureau at the Seoul Southern District Prosecution Service – claimed that the former crypto mogul Do Kwon had moved nearly $30 million in digital currencies to an unknown wallet shortly after his arrest in Montenegro. The 31-year-old South Korean has faced huge criticism and was blamed for having a hand in the massive LUNA/USD collapse last year that triggered multi-billion investor losses. He allegedly spent several...

In the dynamic world of cryptocurrencies, where innovation and volatility often go hand in hand, certain events have the power to send shockwaves through the entire industry. From groundbreaking partnerships to catastrophic crashes, the crypto realm has witnessed its fair share of astonishing moments that have left investors, enthusiasts, and skeptics alike in awe. In this article, we’ll take a walk through memory lane, reviewing eight extraordinary events that have not only...

Do Kwon, founder of Terraform Labs, which operated Terra stablecoin and Luna cryptocurrency, has pleaded not guilty to traveling to Montenegro on a forged passport. In the Basic Court of Montenegro’s capital Podgorica, Kwon and Terraform’s chief financial officer Han Chang-Joon denied document forgery charges. Shortly after, another local report informed that the Court approved the bail worth €400,000 that was proposed by Kwon. As such, he is set to be released ahead of the...

A South Korean District Court has declared that LUNA, the native token of the Terra ecosystem, is not a security. The court also dismissed prosecutors’ requests to confiscate properties belonging to Singapore-based Terraform Labs co-founder Shin Hyun-Seong, and also arrest him along with other executives of the Singapore-based project. LUNA Is Not a Security Token The Seoul Southern District Court categorically stated that LUNA is not considered a security, according to a...

Do Kwon’s lawyers indicated that Coinbase does not list securities, and the SEC has not been granted the powers by Congress to regulate digital assets as securities or commodities. The Terra Luna and Do Kwon case could be headed in a different direction after a South Korean court ruled that the rebranded LUNC project is not a security product. As a result, Do Kwon’s lawyers were motivated to ask the United States Securities and Exchange Commission (SEC) to stop pushing with the legal...