South Korea’s Supreme Court Declares TerraUSD and Luna Non-Securities
The verdict sets a key precedent that could influence future legal classifications of virtual assets in South Korea.
Terraform Labs Transitioning Terra’s Operations to Community Initiatives
By
Leon Okwatch
The shift from TFL to community management will significantly impact the Terra ecosystem and the LUNA token.
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.
Terra Blockchain Halts Operations after Suspected Exploit of Astroport tokens, ASTRO Tanks 60%
As a result of the Terra blockchain exploit report and the blockchain suspension, the ASTRO token price collapsed by a staggering 60% from around $0.045 to as low as $0.01313 earlier today.
Terra Blockchain Sees $3M Loss after Vulnerability Attack
Once Terra blockchain discovered the attack, the team launched emergency measures to contain the situation. This helped prevent further damage and ensure that more tokens are not siphoned.
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.
Ripple Seeks to Lower $1.95B Penalty to $10M Using Terraform Labs Settlement as Precedent
Amid all this, the price of XRP has continued to decline, losing more than 10% in the last eight days.
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.
Terraform Labs’ Do Kwon Challenges SEC’s $5.3 Billion Penalty
By
Bena Ilyas
Do Kwon’s lawyers contend the court should not grant any injunctive relief or disgorgement and should impose at most a $1 million civil penalty against Terraform Labs.
Terraform Labs Lawyers Seeks to Reduce Penalty to $1M Instead of $5.3B
Lawyers representing Terraform Labs stated that the SEC should effectively seek the penalty from the Luna foundation Guard (LFG) which is a non-entity in this case as of now.
Terraform Labs Trial Wraps with Jury Verdict, Faces Severe SEC Penalties and Sanctions
By
Bena Ilyas
Terraform Labs is set to deliver their final arguments in a civil fraud trial accused of defrauding investors with the TerraUSD stablecoin, which led to $40 billion in losses and wider crypto market havoc in 2022.
Terraform Labs Faces Trial in New York amid Civil Fraud Allegations Tied to TerraUSD Collapse
By
Bena Ilyas
The Terraform trial holds significant implications for the crypto industry. A win for the SEC would solidify its authority to regulate cryptocurrencies deemed securities.
Dramatic Twist in Do Kwon’s Extradition Saga: Montenegrin Prosecutors Challenge Court Decision
Since the arrest of Do Kwon, both the United States and South Korea have submitted extradition requests, setting the stage for a legal war between the two countries.
SEC Challenges Terraform’s Legal Expenses in Bankruptcy Battle
In its bid to navigate the legal challenges, Terraform sought permission from the bankruptcy court to engage Dentons as special litigation counsel and allocate $6.3 million to cover legal expenses for employees and external partners facing litigation.
Terraform Labs Co-Founder Do Kwon Faces Trial Delay amid Extradition Woes
Despite Kwon’s preference to be extradited to South Korea, last week, the Montenegrin High Court ruled in favor of extradition to the US.