The US Justice Department has probed the two major trading firms Jump Trading and Jane Street about plans for a potential bailout of the Terra network’s failed algorithmic stablecoin TerraUSD (UST). According to Bloomberg report from Monday, prosecutors are now looking into group chat conversations on Telegram with participants from Jane Street and Jump Trading.…
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Singaporean authorities have launched a probe into Do Kwon’s Terraform Labs, the entity that developed the now-collapsed TerraUSD stablecoin. According to a report by Bloomberg, Singaporean police sent an emailed statement announcing that “investigations have commenced in relation to Terraform Labs.” It added that the inquiries are “ongoing,” and Kwon is not currently in the city-state…. Read…
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2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust. The following is a look at…
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The US Securities and Exchange Commission (SEC)’s legal filing against Terraform Labs and its CEO Do Kwon “could help South Korean prosecutors’ case against Kwon,” a report has claimed…. Read More: SEC Filing ‘May Help South Korean’s Prosecutors’ Do Kwon Case’ – Report Read more »Sign up for e-EUR – the progressive stablecoin
South Korean prosecutors have applauded “meaningful” charges brought against Do Kwon, the Co-founder of Terraform Labs, by the top American financial regulator…. Read More: South Korean Prosecutors Applaud ‘Meaningful’ US Do Kwon Charges Read more »Sign up for e-EUR – the progressive stablecoin
There’s been no shortage of news in past weeks when it comes to the United States Securities and Exchange Commission (SEC) taking action against crypto exchanges and companies. From Kraken, to Paxos, to Terraform Labs, it seems enforcement is in the air when it comes to chair Gary Gensler’s organization. In other news, South Sudan…
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Caitlin Long, CEO of crypto bank Custodia, criticized the U.S. government for its handling of a massive crypto fraud that occurred months before the company’s collapse. She made her remarks in a blog post after disclosing evidence to law enforcement. Long’s post followed Custodia’s unsuccessful application to become a member of the Federal Reserve System,…
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The SEC complaint included allegations around claims of TerraUSD’s peg, Terra’s relationship to Chai, and co-founder Do Kwon cashing out for millions. A complaint filed by the United States Securities and Exchange Commission said Terra co-founder Do Kwon and Terraform Labs laundered more than $100 million worth of Bitcoin from the platform following its collapse…
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The US Securities and Exchange Commission (SEC) has sued Terra founder Do Kwon and his organization Terraform Labs for securities fraud. “[The SEC] today charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities,” the SEC wrote…
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Delphi Lab’s general counsel said the SEC was being “more thorough than usual” in its lawsuit against Terraform Labs and its co-founder Do Kwon. The United States Securities and Exchange Commission’s (SEC’s) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according to…
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