terra – Ƀitsell X

New Stablecoin Bill Faces Criticism for Stifling Innovation and Breaching First Amendment

April 20, 2024

A new bill co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, aimed at regulating stablecoins, has drawn criticism for potentially stifling innovation and breaching First Amendment rights. The bill includes a provision that bans all “algorithmic payment stablecoins,” which could have significant implications for software developers and the broader tech community. Lummis-Gillibrand Stablecoin Bill Criticized…
Read more

SEC Whistleblower Reveals Chai Payments App in Terra Ecosystem Didn’t Use Crypto

December 31, 2023

Source: Adobe/Casimiro Four crypto tokens sold by Do Kwon and his co-founded company, Terraform Labs, has been qualified as unregistered securities. The tokens in question are TerraUSD (UST), LUNA, wLUNA, and Mirror Protocol (MIR), according to a recent summary judgment ruling by Judge Jed Rakoff of the U.S. Court for the Southern District of New…
Read more

Montenegro Appeals Court Overturns Extradition of Terraform Labs Co-Founder Do Kwon

December 19, 2023

On Tuesday, Montenegro’s appeals court overturned the extradition request for Terraform Labs co-founder Do Kwon. This reversal follows reports that Justice Minister Andrej Milovic had informally agreed to the extradition. Kwon to Remain in Montenegro, Decision Lies With Justice Minister For the time being, Kwon is set to stay in Montenegro, as the Appeals Court…
Read more

Montenegro Court Officially Revokes Extradition Approval For Do Kwon

December 19, 2023

Source: Reuters The Appellate Court of Montenegro has accepted an appeal by Do Kwon’s attorneys – revoking the High Court’s decision to extradite the Terraform Labs’ founder to either South Korea or the USA. Therefore, the Appellate Court has annulled the decision of the Higher Court in the country’s capital of Podgorica. It returned the…
Read more

3 Best Scandal Coins to Buy Now

December 4, 2023

So-called “scandal” tokens are seeing a massive pump as risk appetite in the broader crypto market amps up as Bitcoin (BTC) hits fresh highs for the year above $42,000. Scandal tokens are cryptocurrencies/tokens associated with failed or defunct crypto projects/firms that were struck down by high-profile scandals. While the failure of their associated project/firm renders…
Read more

Jump Crypto filed docs confidentially in SEC v. Terraform Labs case

November 29, 2023

The trading firm and its CEO, Kanav Kariya, allegedly manipulated the price of TerraUSD to gain roughly $1.3 billion in profits. A federal judge has accepted materials from Jump Crypto Holdings in discovery for the United States Securities and Exchange Commission’s case against Terraform Labs. In a Nov. 28 filing in the U.S. District Court…
Read more

Best Crypto to Buy Now November 27 – TerraClassicUSD, Terra, Axie Infinity

November 28, 2023

Analyzing USTC, LUNA, and AXS price action – do technical indicators confirm them as the best cryptos to buy now? Image by cryptonews.com. Following TerraClassicUSD’s 220% gains over the past few days, Binance listed USTC in perpetual futures with 50x leverage earlier today, further fueling its uptrend that saw prices surge 80% at one point…
Read more

Do Kwon extradition approved by Montenegro court

November 25, 2023

Montenegro’s minister of justice will make the final decision on Do Kwon’s extradition to either South Korea or the United States. The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States. The High Court of Podgorica has determined…
Read more

SEC’s Gensler hints he’s open to a FTX reboot under proper leadership: Report

November 9, 2023

“If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law,’” SEC Chair Gary Gensler iterated. The United States securities regulator chief has hinted he would be open to a rebooted crypto exchange FTX — as long as its new leadership stays within the bounds of the…
Read more

SEC Clashes With Do Kwon and Terraform Labs in Court, Alleging ‘Clear, Undisputed’ Fraud

November 6, 2023

Last week, lawyers representing Terraform Labs and its ex-CEO Do Hyeong Kwon (Do Kwon) moved to dismiss the lawsuit brought against them by the U.S. Securities and Exchange Commission (SEC). In response, the SEC has countered with a motion of its own, asserting the accountability of both the company and Kwon. The commission maintains that…
Read more

Tag: terra