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The Latest Breaking News from TerraUSD

Cryptocurrency Mogul Do Kwon Admits Guilt in $40B Collapse — Prison and $19M Forfeiture Included

Terraform Labs founder Do Kwon has pleaded guilty to fraud over the $40B collapse of TerraUSD and Luna, facing up to 25 years in prison and $19M forfeiture.

International Business Times UK

South Korean Crypto Mogul Do Kwon Pleads Not Guilty in U.S. Court

The trial of Do Hyeong Kwon, co-founder of Terraform Labs, is everywhere. Kwon is facing accusations related to the failure of his company's cryptocurrency. His case could set a standard for how crypto should be regulated.

inkl

Jump Trading made 25-year-old Kanav Kariya into a crypto celebrity. He went out as the baby-faced symbol for a crypto disaster

How a venerable Chicago financial firm became a blockchain kingmaker, then fell back to earth.

Fortune

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Wanted Crypto Boss Do Kwon's Terraform Files For US Bankruptcy

South Korean entrepreneur Do Kwon's Terraform Labs, whose cryptocurrencies crashed dramatically in 2022, is seeking bankruptcy protection in the United States, according to court documents filed Sunday.

International Business Times

With Sam Bankman-Fried in the slammer, now the fugitive crypto 'Lunatic' behind 2022's $40B crash is being extradited from his Montenegrin getaway

The question is whether he goes to South Korea or the US.

PC Gamer

Do Kwon denied appeal in Montenegro as possible extradition to South Korea or U.S. looms

The disgraced former CEO of Terraform Labs was caught trying to use a fake passport to flee Montenegro in May.

Fortune

Robinhood and Jump Crypto no longer in business together amid the latter’s U.S. exit

The SEC alleges that Jump Crypto made more than $1 billion propping up TerraUSD.

Fortune

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Terra cofounder Daniel Shin charged with fraud in South Korea as former CEO Do Kwon still detained in Montenegro

Shin’s cofounder, Do Kwon, was arrested last month after he was stopped at an airport with bogus documents.

Fortune

Man suspected of being crypto fugitive Do Kwon arrested in Montenegro

South Korean CEO of Terraform Labs is accused of multi-billion-dollar fraud involving TerraUSD and Luna currencies

The Guardian - UK

Jump Trading revealed as 'third party' in SEC claim against Do Kwon and Terraform Labs

The SEC filed a complaint against Terraform Labs and CEO Do Kwon for allegedly misleading investors.

Fortune

Terra Co-Founder Do Kwon Faces $57M Lawsuit From International Investors

A Singapore-based court is set to hear a lawsuit filed by over 350 international investors against the co-founder of embattled Terraform Labs Do Kwon.

Benzinga

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 Korea's cryptocurrency ‘guru’ Do Kwon turns fugitive

Do Kwon, the creator of the cryptocurrencies Luna and TerraUSD, has become one of the most hated men in South Korea after a Seoul court issued an arrest warrant for him this week over his alleged role in the collapse of the global cryptocurrency market earlier this year.

France 24

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

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The Hindu

A turning point in crypto regulation, led by Europe

If GDPR marked a decisive moment in consumer data protection, MiCA could point to responsible crypto management

Bangkok Post

Explainer: The lowdown on the Zipmex situation

Analysts have commented on the implications on investor confidence and markets following Thailand's major digital asset exchange platform Zipmex's announcement of a memorandum of understanding (MoU) with interested parties.

The Conversation

Cryptocurrencies are great for gambling – but lousy at liberating our money from big central banks

The dream that decentralised finance – or “DeFi” – can free the monetary system from the clutches of governments and banks has helped launch 20,000 cryptocurrencies.

The Independent UK

South Korea hits dozens with travel bans amid crypto probe

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

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Bangkok Post

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

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

Terra (LUNA) Community Approves Proposal To Burn 1.3B TerraUSD (UST)

Terra (CRYPTO: LUNA) tokenholders voted on proposal 1747 and decided to burn 1.388 billion TerraUSD (CRYPTO: UST) tokens after the stablecoin collapsed earlier this month.

Bangkok Post

Crypto transfers granted tax exemption

The Thai government is exempting value-added tax (VAT) from the transfer of cryptocurrencies or digital tokens until the end of 2023.

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

Benzinga

This Twitter-Suspended Crypto Developer's Blockchain Social Network Claims To Handle Elon Musk's Concerns

Finnish cryptocurrency developer Stani Kulechov built a blockchain-based social network, Lens Protocol, available for anyone to access, Bloomberg, reports. Each piece of content is associated with a nonfungible token, giving the creator ownership over their post. Twitter, Inc (NYSE:TWTR) recently suspended Kulechov's account following a joke saying the social media company selected him as…

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.

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