Tagged: terraform labs

June 14, 2024 @ 7:33 am By JD Alois  |  

The Securities and Exchange Commission (SEC) reports that Terraform Labs PTE, Ltd. and founder Do Kwon will pay a $4.5 billion penalty as they have been found guilty of a “years-long fraud.”  It was previously reported that the SEC was seeking a $5.3 billion settlement…. Read More

April 24, 2024 @ 4:38 pm By Omar Faridi  |  

US regulatory authorities are requesting that Terraform Labs and its co-founder Do Kwon be fined $5.3 billion for allegedly defrauding investors. This update has been announced after the two parties had been found liable for a massive fraudulent scheme. As stated in court papers dated… Read More

March 29, 2024 @ 8:30 am By Omar Faridi  |  

Manhattan US District Court Judge Jed S. Rakoff has given a major blow to Terraform Labs and its founder Do Kwon. Recently, Judge Rakoff dismissed a mistrial bid that was reportedly related to disclosures regarding the Terraform’s alleged deception. The notable decision was announced during… Read More

June 19, 2023 @ 7:37 pm By JD Alois  |  

Do Kwon, the creator of TerraUSD – LUNA, has been sentenced to four months in the slammer in Montenegro, according to multiple reports. Kwon’s attempt to create an algorithmic stablecoin TerraUSD has been cited as a huge catalyst in the crypto collapse of 2022. The… Read More

June 15, 2023 @ 9:20 am By JD Alois  |  

Europe Now Movement, the political party that just won parliamentary elections in Montenegro, is expected to form a fragile government, according to a report in BalkanInsight. The problem is the multitude of parties, with Europe Now squeaking by with just 25.6% of the vote, followed… Read More

March 30, 2023 @ 11:11 am By JD Alois  |  

Do Kwon is expected to stand trial in Montenegro before facing charges in other interested jurisdictions. Kwon is the founder and CEO of Terraform Labs, the crypto company that created TerraUSD and LUNA. TerraUSD was an aspiring algorithmic stablecoin pegged to the US dollar. The… Read More

March 24, 2023 @ 8:09 am By Omar Faridi  |  

  After trying to evade law enforcement for around six months, Terraform Labs CEO Do Kwon has now been taken into police custody in Montenegro. Kwon and Terraform Labs were responsible for TerraUSD, an aspiring algorithmic stablecoin, and sister crypto Luna, which collapsed last year… Read More

June 9, 2022 @ 11:54 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted a notice that the United States Court of Appeals for the Second Circuit has affirmed a district court order requiring compliance with investigative subpoenas served by the Commission on Terraform Labs Pte Ltd and Do Kwon – based… Read More

April 15, 2022 @ 10:21 am By JD Alois  |  

Terraform Labs has completed a “mind-blowing transaction” according to a blog post as it donates 10 million $LUNA at a value of around $880 million. TFL has gifted an additional 10 million $LUNA to the @LFG_org. https://t.co/tNirkgGGm0 — Terra 🌍 Powered by LUNA 🌕 (@terra_money)… Read More

March 28, 2021 @ 2:29 pm By Omar Faridi  |  

The team at Chainlink (LINK), the developers of decentralized Oracle networks, recently revealed that Hack.bg has received a Grant for performing native Integrations of Chainlink on Terra. The Chainlink Community Grant Program offers key financial resources to various development teams and researchers creating a “more… Read More