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A complaint filed by the United States Securities and Exchange Commission said Terra co-founder Do Kwon and Terraform Labs laundered more than $100 million worth of Bitcoin from the platform following its collapse in May 2022.According to the SEC complaint filed in the U.S. District Court for the Southern District
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Terraform Labs said that UST, Terra’s ill-fated “decentralized” stablecoin, would stay pegged to the price of $1 solely as a result of a state-of-the-art “algorithm.” That algorithm – which was codified in blockchain-based computer code called smart contracts – was supposed to print and burn Luna, UST’s speculative sister token,
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Terraform Labs and its founder Do Kwon being in the sights of the United States Securities and Exchange Commission (SEC) have sparked various reactions from lawyers within the crypto community. On Feb. 16, the SEC accused and charged Kwon and Terraform Labs for allegedly selling a “suite of crypto asset securities.”
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The United States Securities and Exchange Commission’s (SEC's) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according to a lawyer.Gabriel Shapiro, general counsel at investment firm Delphi Labs, explained to his 33,800 Twitter followers on Feb. 16
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South Korean prosecutors have requested an arrest warrant for the former CEO of Tmon, a Korean e-commerce platform, after taking billions of won in LUNA (LUNA), now known as LUNA Classic (LUNC), for promoting Terra as a simple payment gateway. Seoul prosecutors requested an arrest warrant on the former CEO of
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The protocol will be available on Osmosis, Cosmos' largest decentralized exchange (DEX) with total value locked (TVL) of $180 million. Users will borrow and lend Cosmos-based tokens, while those that stake the MARS token will receive a portion of fees as a reward. Source
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The original Terra lending protocol, Mars Hub, announced the launch of its independent Cosmos application chain on Jan. 31, along with the issue of MARS tokens to users who hold it during the two snapshots on Terra Classic.According to a statement on Jan. 20, the Mars Hub mainnet will go
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Terraform Labs (TFL), the firm behind the defunct algorithmic stablecoin TerraUST (USTC), and its co-founder Do Kwon is back in the limelight again for allegedly running a smear campaign and issuing threats against one of their own community members.It all started in the month of May with the genesis airdrop
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