A court in Montenegro has repealed a lower court’s decision under which to release Terraform Labs co-founder Do Kwon on bail, according to Bloomberg News. A court spokesperson said a high court in Montenegro’s capital overturned the earlier decision and Kwon remains in jail, Bloomberg reported. This also applies to Terraform Labs’ former Chief Financial…
Read more
Prosecutors in Montenegro appealed against the bail terms of Terra/LUNA co-founder Do Kwon and chief financial officer Han Chang-Joon. On Wednesday, the State Prosecutor’s Office in the country’s capital, Podgorica, filed an official appeal against the decision made by the court on May 12 to grant Kwon and Han a release from detention on bail…
Read more
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Binance Faces Issues in Australia & Joins Hands with TradingView, Ripple Reveals a CBDC Platform, Montenegro Prosecutors Appeal Do Kwon & Han Chang-Joon’s Bail Terms Read more »Sign…
Read more
Case files on the prosecutors’ appeal were sent to the Supreme Court in Podgorica for a decision. Terra co-founder Do Kwon’s bail is now in question after the State Prosecutor’s Office filed an appeal against it. Kwon is still wanted for extradition by South Korea and has criminal charges to answer in the United States. …
Read more
A US regulator’s court filings confirm that Jump Trading secretly supported Terraform Labs — the company behind the failed algorithmic stablecoin — about a year before the company collapsed. The Securities and Exchange Commission filed a document last week showing a contract between Terraform and a Chicago-based company called Tai Mo Shan Limited — with an…
Read more
Last week was harsh for the United States Securities Exchange Commission, with industry figures and officials publicly criticizing the regulator. Last week was harsh for the United States Securities Exchange Commission (SEC), with industry figures and officials publicly criticizing the regulator. May 8 was the deadline for feedback on the SEC’s proposed custody rule, and…
Read more
Jump Trading has been sued for conspiring to manipulate the price of TerraUSD (UST) following the stablecoin’s unprecedented collapse. New Jersey-based resident Taewoo Kim has filed the lawsuit on behalf of affected investors, alleging that Jump Trading acquired substantial quantities of UST to manipulate its value toward $1, misleading investors about its true price and risks associated…
Read more
Jump Trading and its CEO Kanav Kariya are accused of violating United States regulations and unjust enrichment in the lawsuit. A lawsuit filed in a district court in Illinois details Jump Trading’s alleged involvement with Terra Labs in manipulating the price of algorithmic stablecoin TerraUSD (UST). According to court documents from May 9, the firm…
Read more
The Montenegro court accepted the offered bail in the amount of $436,000 per person for Do Kwon and his former aide Han Chang-joon. Montenegro has granted approval to the bail terms proposed by the lawyers of Terra Luna founder Do Kwon, who was charged with the criminal offense of document forgery under Montenegrin law. According…
Read more
The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities. South Korean authorities are seeking the extradition of the co-founder and former CEO of Terraform Labs, Do Kwon. The prosecutor overseeing the investigation believes his repatriation would best serve…
Read more
