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Read More »Terraform Labs Faces Crucial Chapter 11 Hearing on September 19 amid Bankruptcy Crisis
Why have I been blocked? This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
Read More »Terraform Labs’ Do Kwon Challenges SEC’s $5.3 Billion Penalty
CoinspeakerTerraform Labs’ Do Kwon Challenges SEC’s $5.3 Billion Penalty Do Kwon's lawyers contend the court should not grant any injunctive relief or disgorgement and should impose at most a $1 million civil penalty against Terraform Labs. Terraform Labs’ Do Kwon Challenges SEC’s $5.3 Billion Penalty
Read More »Terraform Labs Trial Wraps with Jury Verdict, Faces Severe SEC Penalties and Sanctions
CoinspeakerTerraform Labs Trial Wraps with Jury Verdict, Faces Severe SEC Penalties and Sanctions Terraform Labs is set to deliver their final arguments in a civil fraud trial accused of defrauding investors with the TerraUSD stablecoin, which led to $40 billion in losses and wider crypto market havoc in 2022. Terraform Labs Trial Wraps with Jury Verdict, Faces Severe SEC Penalties and Sanctions
Read More »Terraform Bankruptcy Protection to Help Appeal SEC Lawsuit, Chris Amani Says
CoinspeakerTerraform Bankruptcy Protection to Help Appeal SEC Lawsuit, Chris Amani Says Terraform Labs believes that a self-funded Chapter 11 filing is the optimal path forward, providing the necessary breathing room to pursue the appeal, continue its software development business, and sustain LUNA’s value for stakeholders. Terraform Bankruptcy Protection to Help Appeal SEC Lawsuit, Chris Amani Says
Read More »US SEC Files Motion for Summary Judgment in Do Kwon Case
The legal battle surrounding Terraform Labs is not without controversy. Terra co-founder Daniel Shin’s lawyer has blamed the “unreasonable operation of the Anchor Protocol and external attacks carried out by Do-hyung Kwon” for the Terra ecosystem’s collapse. The United States Securities and Exchange Commission (SEC) is not backing down in its pursuit of justice regarding Terraform Labs’ alleged violations. Despite a jury’s conclusion that appeared to show leniency towards Do Kwon, the SEC...
Read More »Former Crypto Executive Do Kwon Will Spend Four Months in Jail
Do Kwon – the nefarious founder of the now failed stable coin company Terraform Labs – will spend the next four months behind bars in Montenegro after he was detained at one of the nation’s airports with forged documents and phony passports. Do Kwon Heads to Prison The passports allegedly held by Kwon at the time of his detainment included ones from Costa Rica and Belgium. He attempted to board a flight that was on its way to Dubai in the United Arab Emirates...
Read More »Terraform Labs Denies Motion Seeking Dismissal of SEC Fraud Allegations
CoinspeakerTerraform Labs Denies Motion Seeking Dismissal of SEC Fraud Allegations The implications of this judgment are significant for both Terraform and the broader ecosystem. Terraform Labs Denies Motion Seeking Dismissal of SEC Fraud Allegations
Read More »South Korea Passes First Independent Crypto Bill to Strengthen Investor Protection
As per the VAUP legislation, the Financial Services Commission (FSC) will get the authority to oversee crypto operators as well as crypto custodians. South Korea has now implemented the first independent bill for digital assets in order to boost investor protection in the region. The development comes one year after the country’s biggest implosion of the Terra ecosystem last year which triggered the $2 trillion crypto market rout. On Friday, the South Korean parliament passed the Virtual...
Read More »Terra Classic Engineers Working on Major Revival Plan with ‘Six Samurai’ Proposal
The ‘Six Samurai’ proposal presents roadmap to important components such as the migration from Columbus-5 to Columbus-6 and an upgrade to the Cosmos SDK. Six engineers working on the Terra Classic ecosystem have proposed a ‘Six Samurai’ plan for the complete revival of the blockchain ecosystem. This development comes as some community members of Terra have been looking to break away entirely from the shadows of disgraced founder Do Kwon and bring new life to the LUNC ecosystem. Terra...
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