The legal saga of Do Kwon, the co-founder of Terraform Labs, is nearing a major turning point. Montenegro’s Justice Minister, Bojan Božović, has confirmed that a decision regarding Kwon’s extradition is expected by the end of this week, Oct 19. Do Kwon has been held in Montenegro custody since March
Terraform Labs, the company behind the troubled TerraUSD stablecoin, is progressing through its Chapter 11 bankruptcy proceedings. The U.S. Bankruptcy Court has set a “confirmation hearing” for September 19, 2024, to evaluate the company’s proposed restructuring and liquidation plans for Terraform Labs Pte Ltd. and Terraform Labs Limited. On August
Terraform Labs has reached a $4.47 billion settlement with the U.S SEC, ending the allegations brought against it. Reuters was the first to report the settlement, which will make it the second high-profile case in the cryptocurrency industry to pay a settlement of more than $4 billion. As part of
The Luna Foundation Guard (LFG) address had a fund transfer of a substantial amount of digital assets. Around 1.974 million AVAX, approximately worth $71.2 million, and 39,499 BNB worth $23.5 million, were moved to an unknown address. Additionally, an insignificant amount of transfers were also recorded on the platform, as
Terraform Labs, the entity responsible for the now-defunct stablecoin TerraUSD (USTC), has officially filed for Chapter 11 bankruptcy protection in the United States, according to a court document submitted on January 21. The Singapore-based company, known for creating TerraUSD, listed its assets and liabilities in the range of $100 million
The algorithmic stablecoin, earlier known as UST Terra Classic USD (USTC), has recently had its minting and reminting halted by the Terra LUNA Classic (LUNC) community. The de-pegging of the UST posed a difficult choice for the community of Terra Classic. A proposal to end the USTC-LUNA swapping mechanism was
Binance, the world’s largest crypto exchange, has announced its support for the Terra (LUNA) network upgrade. The Terra community has successfully passed the on-chain proposal for the Phoenix software upgrade v2.4, with a majority of votes in favor of the upgrade. As a result, the price of LUNA has witnessed
A new report indicates that Do Kwon, the founder of Terraform Labs, has no assets that can be traced to him in his home country of South Korea. Kwon, who has been charged with fraud in both the United States and South Korea, was detained in Montenegro on November 23
Terra Classic is an altcoin founded by Do Kwon and Daniel Shin in the year 2018. There are over 30,411,802.611 TERRA (aka LUNC) staked at the current market value which is approximately $0.0001232. 🚨BREAKING There is currently over $1,000,000+ worth of $TERRA Staked right now at the current price! Let’s
The Prosecutor’s Office had asked the Seoul Southern District Court to detain Shin Hyun-seung, a co-founder of the defunct firm Terraform Labs, in pre-trial custody, but the court denied the motion. According to reports, he was instrumental in the downfall of the firm’s crypto assets, including Luna and the stablecoin
