The Terra Allies senior full stack engineering team, known as the Six Samurai, has presented their Q3 spend proposal, emphasizing their deep passion as Luna Classic holders. After a joint governance proposal on liquid staking derivatives in Terra Classic (LUNC), a new proposal emerged for the next quarter suggesting the formation of a dedicated team…
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Montenegro’s court has determined that Do Kwon, the co-founder of Terraform Labs, is guilty of using a counterfeit Costa Rican passport. As a result, he has been sentenced to four months in jail for the offense. Do Kwon Sentenced to 122 Days in Prison, Defendant Has 8 Days to Appeal According to the Montenegrin court,…
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Terraform Labs co-founder Do Kwon was found guilty of using fake passports in a court in Montenegro on Monday. Kwon along with Terraform Labs’ former Chief Financial Officer Han Chong-joon will serve four months in prison each, according to a statement released by the Podgorica Basic Court. … Read More: Terraform Labs Co-Founder Do Kwon Found…
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Do Kwon, the Terraform Labs founder and CEO, has told a Montenegro court that he did not know the “fake” travel documents he was allegedly trying to leave the country with were forged – and blamed a “Chinese-named agency.” Per the South Korean media outlets Segye Ilbo and MBN, Kwon told a District Court in…
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Do Kwon, the founder of failed blockchain project Terra, could stay in custody for up to six months while Montenegro’s courts consider an extradition request from South Korea. On Thursday, a Montenegro court extended Kwon’s stay in custody for an additional six months as he awaits trial for possible extradition, according to a report by Radio…
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The Terra Labs co-founder will be held for up to six months while the Montenegrin court considers South Korea’s extradition request. Terraform Labs co-founder Do Kwon will reportedly be taken into extradition custody in Montenegro, according to a report by the regional edition of Radio Free Europe (RFE). He also faces questions about ties to…
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The lawsuit, initially filed on May 9, alleges the firm and its CEO was involved in a price manipulation scheme tied to the TerraUSD stablecoin. Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class action lawsuit against the firm moved from Illinois to a Northern district court in California, arguing that…
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The trial of the Terraform Labs Co-founder Daniel Shin is set to begin in South Korea – with prosecutors determined to prove that Terra Classic (LUNC) is a security. Shin (Korean name Shin Hyun-seong) will face trial on fraud charges on June 10. And the media outlets Chosun Ilbo and EToday reported that legal experts…
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South Korean senior prosecutor Dan Sunghan says Kwon’s extradition to South Korea makes better sense, but suggested Kwon could also serve time in the US too. Terraform Labs co-founder and CEO Do Kwon may be subject to multiple sentences in the United States and South Korea, according to a senior South Korean prosecutor heading the…
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On June 1, 2023, the stablecoin issuer Tether exceeded the dollar-linked token USDT’s previous all-time market capitalization record of $83.2 billion, which was set in May 2022. In the last 186 days, USDT’s market value has surged by 27.15% from the low of $65.43 billion reached at the end of November 2022. Tether Market Cap…
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