News with the tag "SEC vs Terraform"

Recently disclosed documents from the U.S. Securities and Exchange Commission (SEC) reveal that Montenegrin Prime Minister Milojko Spajić was an early investor in Terraform Labs. The court documents show that on April 23, 2018, Spajić invested $75,000 to purchase 750,000 Luna tokens. At its peak, th...

In a major announcement on Wednesday, Terraform Labs stated that they would be paying nearly $4.5 billion in order to settle the SEC lawsuit. However, many in the crypto community have started raising doubts about how the bankrupt Terraform Labs with only $75 million in assets under management plan ...

XRP army awaits Judge Torres’ ruling on multiple motions, including the final judgment in the remedies phase, in the legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs. A lawyer said Ripple or Coinbase case to be the first case to go to the 2nd Circuit Court of Ap...

Luna Foundation Guard (LFG) recently made significant moves with its cryptocurrency holdings, transferring a total of $94.7 million worth of assets. According to data from Arkham, a blockchain data monitoring platform, LFG transferred 1.974 million AVAX (approximately $71.19 million) and 39,499 BNB ...

Terraform Labs, the startup led by Do Kwon and responsible for the collapsed LUNA cryptocurrency and TerraUSD (UST) stablecoin, has agreed in principle to settle with the United States Securities and Exchange Commission (SEC) over fraud charges. News of the tentative settlement was first reported by...

The United States Securities and Exchange Commission (SEC) is seeking to impose substantial monetary penalties on Terraform Labs and its co-founder, Do Kwon, following a civil case verdict. In an April 19 filing in the U.S. District Court of New York in the Southern District of New York, the SEC dem...

In a significant turn of events, Montenegro’s Supreme Court has recently overturned a previous ruling that aimed to extradite Do Kwon, co-founder of Terraform Labs Pte., to South Korea. The decision came after prosecutors appealed the lower court’s rejection of Kwon’s legal team’s appeal, citing pro...

On April 5, a jury in Manhattan gave a civil verdict for Terraform Labs and its co-founder Do Kwon to defraud clients. The allegations were brought up by the US Securities and Exchange Commission (SEC). The taking of this move is quite significant in the context of cryptocurrency scrutiny. Terraform...

The U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs (Terra) and co-founder Do Kwon approaching the end of the jury trial. Defense attorneys from the world’s largest global law firm Dentons are going to give final arguments in the federal court today. Jury Trial on Terra ...

In the latest tussle between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs, the federal judge slammed both defendants and plaintiff’s attorneys for bringing irrelevant questions in the courtroom. Moreover, the judge offered initial instructions to the jury about key details in...