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The Latest Breaking News from Terraform Labs

Global manhunt begins for crypto boss Do Kwon after stablecoin loses $45 billion in value

South Korea’s special financial crimes unit began an investigation into Kwon’s Terra after a group of five investors filed criminal complaints

Evening Standard

S. Korea requests Interpol's help in Terraform Labs probe

South Korean prosecutors have asked Interpol to issue a fugitive alert for the founder of Terraform Labs as they investigate a $40 billion crash of the firm’s cryptocurrency that devastated retail investors around the world

The Independent UK

South Korean court orders arrest of developer of failed crypto Luna

SEOUL: A South Korean court has issued an arrest warrant for Do Kwon, the primary developer of failed cryptocurrency Luna and the founder of blockchain platform Terraform Labs.

Bangkok Post

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South Korean Founder of Failed Terra Coin Admits He Was 'Wrong'

The co-founder of the failed Terra cryptocurrency, which collapsed and wiped out about $40 billion of investors' money in May, has admitted he was "wrong", but said that he was not talking to South Korean investigators. The dramatic disintegration of stablecoin TerraUSD and its sister token Luna -- which both…

Asharq Al-Awsat

'I Didn't Sleep For 8 Days,' Terra Luna Founder Do Kwon Tells Coinage Following Crypto Collapse

Do Kwon, founder of Terraform Labs, recently spoke with cryptocurrency media company Coinage in Singapore — his first media interview since the collapse of Terra Luna earlier this summer. Here's what he discussed:

Benzinga

Singapore plans further strengthening of crypto regulations

Singapore intends to broaden the scope of cryptocurrency regulations and pushed back against claims that some recently collapsed digital-asset outfits were regulated in the city state.

Bangkok Post

'Do Kwon To Be Brought To Justice,' Says Anonymous, Hacker Collective

Anonymous, the infamous hacker collective, has pledged to join the investigation into Do Kwon now being undertaken by governments to hold the Terra (CRYPTO: LUNA) founder accountable for his actions.

Benzinga

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South Korea hits dozens with travel bans amid crypto probe

South Korean prosecutors have not identified the people under the month-long travel ban

The Independent UK

South Korea bans Terraform staff from leaving country amid probe

South Korea has banned current and former employees of Terraform Labs from leaving the country, suggesting prosecutors are stepping up their investigation into the TerraUSD stablecoin’s collapse.

Bangkok Post

4 Actions By The SEC Explained - PFOF, Fees, Meme Stocks, UST

1. Ban on payment for order flow

Benzinga

Dogecoin Creator Reacts To Do Kwon Allegedly Cashing Out $80M Monthly Before LUNA Crash

Dogecoin (CRYPTO: DOGE) co-creator Billy Markus and other prominent crypto industry watchers were unsurprised at the latest allegations against Terra’s (CRYPTO: LUNA) parent Terraform Labs

Benzinga

Terra Designer Says Do Kwon Purposely Increased UST Interest Rates From 3.6% To 20% After Being Warned

A new report claims that Do Kwon, Founder of TerraForm Labs and Terra (CRYPTO: LUNA), intentionally hiked Anchor Program’s interest from 3.6% to 20%, despite warnings.

Benzinga

Morning Brief: Top Financial Stories Dominating on Thursday, June 2

Reuters

Benzinga

Terra (LUNA) Parent Reportedly Laundered $4.8M Through Shell Company

Terraform Labs, the company behind Terra (CRYPTO: LUNA), has reportedly laundered $4.8 million through a South Korean shell company.

Benzinga

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Bangkok Post

Luna 2.0 coin crashes after rocky launch

The relaunch of the highly controversial Luna cryptocurrency faces a rocky start after losing 75% of its value.

Benzinga

LUNA 2.0 Token Set To Launch On May 27; These Crypto Exchanges Plan To List Immediately

After shaking the cryptocurrency market to its core, the developers of the Terra (CRYPTO: LUNA) blockchain are set to launch the LUNA 2.0 token on Friday.

Benzinga

Did Terra (LUNA) Have A 'Kill Switch?' Why Do Kwon's Comments From 2021 Are Going Viral

A video of Terra (CRYPTO: LUNA) founder Do Kwon describing a “kill switch” for Terraform Labs has resurfaced and is going viral on Twitter Inc (NYSE: TWTR)'s social media platform.

Benzinga

The Luna Crash Might Have Been Intentional – Here's Why

As a result of the Luna cryptocurrency and the (CRYPTO: UST) stablecoin, which are both linked to the Terra (CRYPTO: LUNA) blockchain, the cryptocurrency market has tanked and is struggling to recover, with some even predicting the collapse of t

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news in one place.

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Al Jazeera

After Terra, Luna crashes, regulators count cost of crypto

Spectacular collapse of stablecoin puts focus on regulatory frameworks in South Korea and Singapore.

Benzinga

Terra (LUNA) Founder Do Kwon Faces $78M Fine For Tax Evasion

Terra (CRYPTO: LUNA) founder Do Kwon has reportedly been ordered to pay 100 billion won or $78 million in taxes by South Korea’s National Tax Service.

Benzinga

Terra (LUNA) Founder Do Kwon Summoned By Korean Lawmakers As Legal Team Quits

South Korean lawmakers have reportedly summoned Terra (CRYPTO: LUNA) founder Do Kwon to appear before Congress and testify on the subject of TerraUSD’s (CRYPTO: UST) collapse.

Tribune News Service

Critics see risk in ‘algorithmic’ stablecoins

WASHINGTON — A new type of digital asset called an algorithmic stablecoin is gaining steam among crypto-enthusiasts — and drawing steam among critics, who warn its risks are in plain sight.

Roll Call

Critics see risk in 'algorithmic' stablecoins - Roll Call

Experts see risks in algorithmic stablecoins that market incentives to maintain a stable price against a currency such as the dollar.

Fortune

What is Terra? What is Terra? Your guide to the hot cryptocurrency

Terra crypto, overseen by Terraform Labs, is a stablecoin that is intended to track the U.S. dollar.

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