Former Terraform Labs Boss Do Kwon Pleads Guilty to Conspiracy, Fraud Over $44B Crash
Terraform Labs co-founder Do Kwon admitted guilt on fraud and conspiracy charges related to the 2022 TerraUSD collapse that cost investors $45 billion.
Do Kwon’s Trial Pushed to 2026 Amid Evidence Complexity
Do Kwon the former CEO of Terraform Labs, will face trial in the United States, but not until 2026 as decided in a Manhattan Court.
Do Kwon’s Fraud Victims Exceed One Million: Court Filing
By Bena Ilyas
The Government estimates that the number of victims of Kwon’s actions exceeds hundreds of thousands and potentially totals more than one million.
Do Kwon Pleads Not Guilty to US Fraud Charges: Major Turn in $40B Collapse
By Bena Ilyas
Prosecutors allege that Kwon orchestrated a multibillion-dollar fraud that left investors reeling.
Terraform Labs Warns of Potential Shutdown of Products and Services by October 30
By Leon Okwatch
The shutdown of Terraform Labs sets an important standard for how bankruptcies are handled in the crypto industry, and will likely influence future bankruptcy cases.
Terraform Labs Faces Crucial Chapter 11 Hearing on September 19 amid Bankruptcy Crisis
By Bena Ilyas
The $4.5 billion SEC settlement marks one of the largest in crypto history, effectively barring Terraform Labs and its co-founder Do Kwon from the crypto industry.
Terraform Labs Sets August 9 Deadline for Bankruptcy Claims
By Leon Okwatch
This deadline for claims is a key part of Terraform Labs’ strategy to handle its financial and legal issues.
South Korean Court Rules Assets of Do Kwon’s Wife Not Subject to Government Confiscation
Evidence has now been presented in court that confirms that Kwon’s wife did use funds from her own virtual asset account to make the initial payment on some of the properties.
South Korea’s Crypto Exchanges Prepare for New Investor Protection Rules
The Digital Asset Alliance, which represents crypto companies, has said it will conduct a proper review of 1,333 altcoins over the next six months.
South Korean Prosecutors Find New Evidence against Do Kwon
While Hyun-Sung has denied helping Kwon deceive investors, Kwon is still awaiting trial for the collapse of the blockchain, which instigated the 2022 crypto market winter.
SEC Rejects Ripple Demand of Reducing Penalty Down from $2B
Ripple argued that Terraform Labs’ $420 million civil penalty was just around 1.27% of its “$33 billion gross sales”. However, the SEC rejected it stating that this is an apples-to-oranges comparison.
Terraform Labs: CryptoQuant CEO Slams US Judicial System for Approving $4.5B SEC Settlement
Ki Young Ju said that government settlements often prioritize financial gains over upholding the law while adding that $4.5 billion from Do Kwon would be impossible without him committing a financial crime.
XRP Price Stagnates despite Legal Clarity: Analysts Remain Hopeful
Despite the odds against the coin, the crypto analyst stated that there are still positive predictions about its future.
Luna Foundation Guard’s $95M Asset Transfer Sparks Speculation and Transparency Concerns
Although the reason behind the transfer is not very clear, LFG earlier announced that it is set to move assets toward direct custody to enhance the fund’s security.
US SEC and Montenegrin Justice Minister Meet to Discuss Do Kwon
The SEC highlighted the progress in Kwon’s extradition case, whose fate has been uncertain for months. The question of whether Kwon will be extradited to the United States or his native South Korea remains unresolved.