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According to a Friday report by Bloomberg, a United States jury found Terraform Labs and its co-founder Do Kwon liable for civil fraud over the crash of the Terra ecosystem in 2022.
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Andre Cronje warns that while “things are going great now” such a momentum in the crypto space would eventually turn.
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The much-anticipated civil trial between Terraform Labs, its embattled founder Do Kwon, and the US Securities and Exchange Commission (SEC) began on Monday in Manhattan, marking a pivotal moment in the ongoing scrutiny of the crypto space and regulatory oversight.
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Terraform Labs is set to face a high-stakes trial on Monday, grappling with civil fraud allegations linked to the collapse of its TerraUSD stablecoin in 2022.
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Terraform Labs co-founder Do Kwon is now set to be released from prison in Montenegro; however, the South Korean will remain restricted to the borders of the European nation pending a fixed date for his extradition to his home country.
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What is CryptoSlate Alpha?
A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more ›
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Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
What is CryptoSlate Alpha?
A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more ›
Connected to Alpha
Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
What is CryptoSlate Alpha?
A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more ›
Connected to Alpha
Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
In a recent court filing, bankrupt cryptocurrency firm Terraform Labs has strongly criticized the US Securities and Exchange Commission (SEC) for its objection to a $166 million retainer paid to law firm Dentons.
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On Tuesday, March 5, the Appellate Court of Montenegro has overruled the decision of the High Court of Podgorica, which had approved the extradition of Terraform Labs co-founder Do Kwon to the United States for criminal prosecution.
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Terraform Labs co-founder Do Kwon’s extradition to the US was annulled by the Appellate Court of Montenegro, according to a Mar. 5 notice on the Court’s website.
This development occurs amid bankrupt Terraform Labs’ recent legal wrangle with the US SEC.
The Terra Classic community has proposed a new upgrade that could see the reawakening of the ecosystem’s tokens LUNC and USTC. The upgrade, aimed at improving Terra Luna Classic’s overall functionality, will introduce advanced solutions and security features into its ecosystem.
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