Tag Archives: terra

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’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...

Korean officials have linked approximately 91.4 billion won, worth about $69 million, in digital assets directly to Do Kwon. South Korea officials continue to grill former Terraform Labs co-founder Kwon Do-Hyung, popularly known as Do Kwon, following his arrest earlier last month in Montenegro as he attempted to flee to Dubai. The collapse of Terra Luna and its algorithmic stablecoin UST led to a loss of over $40 billion from the crypto market. As a result, the entire cryptocurrency...

Like many stablecoins, BTG Dol token is also pegged to the US dollar. Latin America’s biggest investment bank, BTG Pactual, has just announced the launch of its own stablecoin – BTG Dol. According to an official statement from the bank, the stablecoin will run on the Polygon network and is already available to clients. The bank’s choice of blockchain network does not exactly come as a surprise though. This is considering that Polygon is compatible with Ethereum and backs several major...

The news has already stirred the crypto ecosystem with many of the affected holders of LUNA yet to recover their losses. Do Kwon, the co-founder of Terraform Labs has been reportedly arrested in Montenegro, months after he vanished after the implosion of Terra (LUNA) and its algorithmic stablecoin UST. The arrest of Do Kwon was shared through a Tweet from Filip Adzic, the country’s minister of interior. At a time over the past year, Do Kwon was declared one of the most wanted men in the...

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Bitcoin Hardware Wallet The US investment fund Three Arrows Capital may become the next crypto giant to fall, after Terra and perhaps even Celsius. The big difference is that this investment fund was widely trusted and respected, not for its brilliant ideas or blockchain applications, but purely because of their liquidity. And that is exactly where it seems to be going wrong now. Is Three Arrows Capital liquid enough? Three Arrows Capital (3AC) has...