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After Kwon was arrested, the prosecutors indicated that he had paid the law firm before the collapse. As the legal battle between Do Kwon and South Korean prosecutors continues, the prosecutors stated that the CEO of Terraform Labs Do Kwon transferred some money to a law firm before TerraUSD and
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South Korea and the U.S. have requested the extradition of the Terraform Labs CEO after his recent arrest in Montenegro. Kwon is facing criminal charges in both countries after his $60 billion crypto ecosystem came crumbling down, hurting the industry globally. Original Source
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Elon Musk is reportedly working on launching an AI startup to compete with OpenAI. Many prominent names, including Elon Musk, have weighed in on the matter of AI technology that recently exploded and is aggressively dominating. Opinions are in two directions: while many see AI as a game-changer for many industries,
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Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that co-founder Do Kwon was aware of the imminent collapse. Terraform Labs Transferred Large Amounts
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General earn creditors, with claims below $5,000, will see 70% recovery of their claims in liquidity cryptos, the presentation said. Up to 100% of the rest of the assets, minus what is needed to run the new company, will be dispersed to earn creditors with claims over $5,000, who will
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The Information Commissioner’s Office (ICO) has fined Join The Triboo Limited £130,000 for bombarding people with spam emails. Join The Triboo Limited sent 107 million spam emails to 437,324 people between August 2019 and August 2020, meaning that each
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While the posting doesn’t mention boosted regulatory efforts, Canada did set a March 24 deadline for entities to commit to stricter requirements for crypto exchanges with a presence in the country. Some exchanges, including Coinbase and Gemini, have said they will remain active in Canada, while others like OKX, dYdX
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A rise in open interest, which is a metric that assesses the value of all unsettled derivatives positions, alongside an increase in price is often used to confirm the legitimacy of a move. At the time of writing, bitcoin was trading at around $30,000 after it surged to a 10-month
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Among other digital tokens, Solana’s SOL surged over 12% to trade around $23.2, while ETC, the token of Ethereum Classic, an offshoot, or fork, of Ethereum, gained over 4% to change hands at $21.6. The CryptoX Market Index, which measures overall crypto market performance, was up 2.3% for the day. Source
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