Source: Pixabay / sergeitokmakov Terraform Labs and co-founder Do Kwon have filed a motion for summary judgment against the U.S. Securities and Exchange Commission (SEC), seeking to dismiss allegations of multi-billion-dollar securities fraud. This move could prevent a lengthy trial if the judge rules in Terraform’s favor. In the motion, Terraform Labs and Do Kwon…
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In the wake of the U.S. Securities and Exchange Commission’s (SEC) call to depose Terraform Labs creator and former CEO Do Kwon, the SEC unveiled an alleged exchange between him and his former associate Daniel Shin. The ex-Terra boss reportedly claimed he could fabricate transactions on the Terra blockchain to render them authentic and accrue…
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Slack conversations between Terraform Labs co-founders, Do Kwon and Daniel Shin, have exposed their contemplation of orchestrating fraudulent transactions on the Terra blockchain. Terraform Labs co-founder Do Kwon has contested the importance of Slack messages presented as evidence. These involved discussions with his co-founder Daniel Shin about manipulating transactions to attract investors. The United States…
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The legal team defending Do Kwon, the co-founder and former CEO of Terraform Labs, argues that the U.S. Securities and Exchange Commission (SEC) lacks the capacity to depose Kwon, deeming it an “impossible” feat. Kwon’s legal counsel additionally maintains that the SEC’s bid for a preclusion order is premature, given that no summary judgment motion…
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Do Kwon, founder of Terraform Labs, is fighting a U.S. Securities and Exchange Commission (SEC) request to extradite him for questioning about the collapse of his stablecoins Terra and Luna, according to court documents filed on Wednesday. The filing, submitted to the U.S. District Court for the Southern District of New York, indicates that Kwon’s…
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Martin Shkreli, the former CEO of several hedge funds and pharmaceutical companies, offered updates about the life of Sam Bankman-Fried in prison. Jeremy Lorenzo (aka Flacco Poops), Shkreli’s source on MDC Brooklyn, the center in which Bankman-Fried is being held, stated that he has been facing some troubles due to inmates believing he was a…
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The Securities and Exchange Commission wants to question Daniel Shin on Do Kwon and Chai Corporation’s relationship with Terraform Labs. The United States Securities and Exchange Commission has been granted a motion to seek assistance from South Korea to question Terraform Labs co-founder Daniel Shin as it builds a case against the firm and its…
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A senior U.S. district judge has rejected the approach taken in the Securities and Exchange Commission (SEC) v. Ripple ruling regarding XRP. “The court declines to draw a distinction between these coins based on their manner of sale,” explained the district judge presiding over the SEC v. Terraform Labs case. Judge Rakoff Rejects Approach in…
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Terraform Labs recently appointed CEO, Chris Amani, held a Twitter Spaces with the purpose of separating the operations of Terraform Labs from Do Kwon’s personal affairs. Terraform Labs faces a “big hill to climb” as the progress of its various projects in development are constantly being impeded by frequent accusations against Do Kwon, according to…
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The U.S. Securities and Exchange Commission (SEC) has told a federal court that some portions of the Ripple ruling regarding XRP “were wrongly decided.” The regulator has asked the court to ignore parts of the ruling, noting that “SEC staff is considering the various available avenues for further review and intends to recommend that the…
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