News with the tag "TerraUSD"

The saga surrounding Do Kwon and the catastrophic TerraUSD collapse continues to unfold, but at a slightly slower pace. In a recent development, the U.S. court case against the former CEO of Terraform Labs has been delayed, injecting more suspense into an already gripping narrative. If you’ve been f...

The disgraced co-founder of the Terra (LUNA) ecosystem is set to appear in a US court today after recently being extradited from Montenegro. According to a new report by Reuters, Do Kwon is facing fraud charges in the US related to the multibillion-dollar downfall of Terra in 2022 and will make his ...

Montenegrin authorities extradited crypto entrepreneur Do Kwon to the United States on Sunday to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022. According to a Reuters report , Kwon, who co-founded Terraform Labs, was arrested in Montenegro last March while att...

Tai Mo Shan, a subsidiary of Jump Crypto, has agreed to pay $123 million to the United States Securities and Exchange Commission (SEC) to settle charges of misleading investors about the stability of the TerraUSD (UST) algorithmic stablecoin prior to its catastrophic collapse. A Deal That Fueled Ter...

The ensuing fallout from the Terra ecosystem collapse eventually caused Terraform Labs to shut down following a settlement with the SEC.

SEC fines Tai Mo Shan $123M for misleading investors about TerraUSD’s stability. Tai Mo Shan violated laws by selling unregistered securities via LUNA token trades. TerraUSD collapse exposes gaps in crypto transparency and regulatory oversight needs. Deceptive practices surrounding TerraUSD (UST) ha...

Terraform Labs announced the possible shutdown of several key products and services by October 30, 2024. The company is talking with third parties to take over these offerings. If these talks fail, the listed products and services will be discontinued. Products Facing Potential Shutdown These produc...

Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors facing significant losses after the Terra ecosystem colla...

3AC liquidators alleged that Terraform Labs misled the Singaporean hedge fund about the stability of tokens in the Terra ecosystem.

An appellate court in Montenegro has upheld the decision of a lower court on the extradition case of Terraform Labs co-founder Do Kwon. Kwon is facing criminal charges in his native South Korea and the US for the $40 billion crash of the TerraUSD stablecoin and its companion token, Luna. Both countr...