TerraLabs
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$USTC $LUNC $LUNA
TerraClassicUSD (USTC) is a decentralized algorithmic stablecoin of the Terra Classic blockchain that is pegged to 1 USD. In order to mint 1 USTC, 1 USD worth of the reserve asset, LUNC, must be burned.
After the depeg of USTC in May 2022, the community behind Terra Classic decided to create a new blockchain without the algorithmic stablecoins called Terra 2.0.
#terraClassicLunc #TerraLabs
TerraClassicUSD (USTC) is a decentralized algorithmic stablecoin of the Terra Classic blockchain that is pegged to 1 USD. In order to mint 1 USTC, 1 USD worth of the reserve asset, LUNC, must be burned.
After the depeg of USTC in May 2022, the community behind Terra Classic decided to create a new blockchain without the algorithmic stablecoins called Terra 2.0.
#terraClassicLunc #TerraLabs
Terraform Labs and co-founder Do Kwon, after being found liable for fraud by a New York jury last month, told a judge they shouldn’t have to pay the $5.3 billion fine requested by US regulators.
#DoKwon #TerraLabs
#DoKwon #TerraLabs
$LUNC As for Terra Form Labs, Luna Foundation Guard and the refugee Do Kwon, it is really a shame to have claimed at the beginning that Luna Classic only had 313 BTC. I mean, they were able to pay well over 100 million to lawyers. They took over Pulsar Finance. And only 2 years later did they file for bankruptcy. It is clear that they had not thought of doing this before. They secretly know that they have more than anyone would think possible. America's SEC has done really incomplete research and in the end they know nothing and they are not really interested in the investors' losses. The SEC is only interested in fees that they can collect themselves. Unlike South Korea. South Korean detectives already know how many Bitcoins Terra has. South Korea is really way ahead of America. #fomc #BTC #TerraLabs
SEC Seeks $5.3 Billion Penalty Against Terra Founder Do Kwon
According to reports, the U.S. Securities and Exchange Commission (#SEC上诉 ) intends to punish the discredited founder of the Terra ecosystem billions of dollars.
As per a recent Bloomberg article, the regulatory body is pursuing Kwon and #Terraform Labs, who were found guilty of fraud during a trial earlier this month, opening the door for the possibility of the highest penalties in the history of the cryptocurrency business.
According to the investigation, Kwon and Terraform gained about $4 billion by selling tokens as unregistered securities. Do Kwon was fined $5.3 billion for his alleged "brazen misconduct" in the 2022 collapse of the Terra ecosystem.
As a result of his involvement in the $40 billion collapse of the #TerraLabs ecosystem, he is currently being sought by authorities for extradition to both the US and South Korea. #cryptoniteuae
According to reports, the U.S. Securities and Exchange Commission (#SEC上诉 ) intends to punish the discredited founder of the Terra ecosystem billions of dollars.
As per a recent Bloomberg article, the regulatory body is pursuing Kwon and #Terraform Labs, who were found guilty of fraud during a trial earlier this month, opening the door for the possibility of the highest penalties in the history of the cryptocurrency business.
According to the investigation, Kwon and Terraform gained about $4 billion by selling tokens as unregistered securities. Do Kwon was fined $5.3 billion for his alleged "brazen misconduct" in the 2022 collapse of the Terra ecosystem.
As a result of his involvement in the $40 billion collapse of the #TerraLabs ecosystem, he is currently being sought by authorities for extradition to both the US and South Korea. #cryptoniteuae
La extradición de Do Kwon, cofundador de Terra, se estanca de nuevo.
La extradición a Corea del Sur de Do Kwon, cofundador de Terra, se congela tras una impugnación del fiscal principal de Montenegro.
El caso plantea cuestiones importantes sobre los procedimientos de extradición en el ámbito de la ley internacional y las criptomonedas.
https://criptokio.com/noticias/extradicion-do-kwon-cofundador-terra-se-estanca/
$LUNC #LunaTerraClassic #TerraLabs #DoKwon
La extradición a Corea del Sur de Do Kwon, cofundador de Terra, se congela tras una impugnación del fiscal principal de Montenegro.
El caso plantea cuestiones importantes sobre los procedimientos de extradición en el ámbito de la ley internacional y las criptomonedas.
https://criptokio.com/noticias/extradicion-do-kwon-cofundador-terra-se-estanca/
$LUNC #LunaTerraClassic #TerraLabs #DoKwon
Luna
luna/usdt, there are two possibilities but target is same and we will achieve this target in 1-2 months.
#luna #lunausdt #TerraLabs
luna/usdt, there are two possibilities but target is same and we will achieve this target in 1-2 months.
#luna #lunausdt #TerraLabs
JUST IN:
Do Kwon found guilty in 🇺🇸 SEC case 😮
“We are pleased with today’s jury verdict holding Terraform Labs and Do Kwon liable for a massive crypto fraud. [They] deceived investors about the stability of the crypto asset security and so-called algorithmic stablecoin Terra USD… Through these deceptions, the defendants caused devastating losses for investors and wiped out tens of billions of market value nearly overnight.”
$LUNC $USTC
#TerraLabs #BitEagleNews
Do Kwon found guilty in 🇺🇸 SEC case 😮
“We are pleased with today’s jury verdict holding Terraform Labs and Do Kwon liable for a massive crypto fraud. [They] deceived investors about the stability of the crypto asset security and so-called algorithmic stablecoin Terra USD… Through these deceptions, the defendants caused devastating losses for investors and wiped out tens of billions of market value nearly overnight.”
$LUNC $USTC
#TerraLabs #BitEagleNews
😰 Critical New Development in Terra ($LUNA ) and SEC Case: Billion Dollars in Talk
The US Securities and Exchange Commission (SEC) asked the New York court to impose a hefty $5.3 billion fine on Terraform Labs and its co-founder Do Kwon, on the grounds that they were involved in the $40 billion collapse of the Terra (LUNA) ecosystem in 2022.
Terraform Labs and Kwon were convicted on fraud charges earlier this month. A jury in Manhattan found that the company and Kwon deceived investors about the stability of their so-called “algorithmic” native stablecoin, Terra USD (UST), and the use cases of the Terra blockchain.
The SEC, which filed for final judgment two weeks after the conclusion of the hearing, demands that Terraform Labs and Kwon pay damages and precautionary interest in the amount of $ 4.74 billion. Additionally, the regulator is seeking damages totaling $520 million, including $420 million from Terraform Labs and $100 million directly from Kwon.
The SEC justified the total amount in an attached memorandum filed with the court, stating that Kwon and Terraform Labs “obtained over $4 billion in illicit profits (and likely much more) from their illegal conduct.”
According to court documents, LUNA and MIR sales to institutional investors amounted to $65.2 million and $4.3 million, respectively. LUNA and UST sales through Luna Foundation Guard (LFG) totaled $1.8 billion. Additionally, investors purchased $2.3 billion of UST across various cryptocurrency trading platforms between June 2021 and May 2022.
The SEC added that the penalty amount represents a “conservative” but “reasonable approach” to Terraform and Kwon's “ill-gotten gains.”
In addition to the hefty fines, the SEC is also seeking injunctive relief to prevent Kwon and Terraform Labs from committing further securities violations and buying or selling “any cryptoasset securities.” The regulator is also seeking an officer and director ban that would prohibit Kwon from serving as an officer or director of a public company reported by the SEC.
$LUNA #LUNA #TerraLabs
The US Securities and Exchange Commission (SEC) asked the New York court to impose a hefty $5.3 billion fine on Terraform Labs and its co-founder Do Kwon, on the grounds that they were involved in the $40 billion collapse of the Terra (LUNA) ecosystem in 2022.
Terraform Labs and Kwon were convicted on fraud charges earlier this month. A jury in Manhattan found that the company and Kwon deceived investors about the stability of their so-called “algorithmic” native stablecoin, Terra USD (UST), and the use cases of the Terra blockchain.
The SEC, which filed for final judgment two weeks after the conclusion of the hearing, demands that Terraform Labs and Kwon pay damages and precautionary interest in the amount of $ 4.74 billion. Additionally, the regulator is seeking damages totaling $520 million, including $420 million from Terraform Labs and $100 million directly from Kwon.
The SEC justified the total amount in an attached memorandum filed with the court, stating that Kwon and Terraform Labs “obtained over $4 billion in illicit profits (and likely much more) from their illegal conduct.”
According to court documents, LUNA and MIR sales to institutional investors amounted to $65.2 million and $4.3 million, respectively. LUNA and UST sales through Luna Foundation Guard (LFG) totaled $1.8 billion. Additionally, investors purchased $2.3 billion of UST across various cryptocurrency trading platforms between June 2021 and May 2022.
The SEC added that the penalty amount represents a “conservative” but “reasonable approach” to Terraform and Kwon's “ill-gotten gains.”
In addition to the hefty fines, the SEC is also seeking injunctive relief to prevent Kwon and Terraform Labs from committing further securities violations and buying or selling “any cryptoasset securities.” The regulator is also seeking an officer and director ban that would prohibit Kwon from serving as an officer or director of a public company reported by the SEC.
$LUNA #LUNA #TerraLabs
😰 Critical New Development in Terra (LUNA) and SEC Case: Billion Dollars in Talk
The US Securities and Exchange Commission (SEC) asked the New York court to impose a hefty $5.3 billion fine on Terraform Labs and its co-founder Do Kwon, on the grounds that they were involved in the $40 billion collapse of the Terra (LUNA) ecosystem in 2022.
Terraform Labs and Kwon were convicted on fraud charges earlier this month. A jury in Manhattan found that the company and Kwon deceived investors about the stability of their so-called “algorithmic” native stablecoin, Terra USD (UST), and the use cases of the Terra blockchain.
The SEC, which filed for final judgment two weeks after the conclusion of the hearing, demands that Terraform Labs and Kwon pay damages and precautionary interest in the amount of $ 4.74 billion. Additionally, the regulator is seeking damages totaling $520 million, including $420 million from Terraform Labs and $100 million directly from Kwon.
The SEC justified the total amount in an attached memorandum filed with the court, stating that Kwon and Terraform Labs “obtained over $4 billion in illicit profits (and likely much more) from their illegal conduct.”
According to court documents, LUNA and MIR sales to institutional investors amounted to $65.2 million and $4.3 million, respectively. LUNA and UST sales through Luna Foundation Guard (LFG) totaled $1.8 billion. Additionally, investors purchased $2.3 billion of UST across various cryptocurrency trading platforms between June 2021 and May 2022.
The SEC added that the penalty amount represents a “conservative” but “reasonable approach” to Terraform and Kwon's “ill-gotten gains.”
In addition to the hefty fines, the SEC is also seeking injunctive relief to prevent Kwon and Terraform Labs from committing further securities violations and buying or selling “any cryptoasset securities.” The regulator is also seeking an officer and director ban that would prohibit Kwon from serving as an officer or director of a public company reported by the SEC.
$LUNA #LUNA #TerraLabs
The US Securities and Exchange Commission (SEC) asked the New York court to impose a hefty $5.3 billion fine on Terraform Labs and its co-founder Do Kwon, on the grounds that they were involved in the $40 billion collapse of the Terra (LUNA) ecosystem in 2022.
Terraform Labs and Kwon were convicted on fraud charges earlier this month. A jury in Manhattan found that the company and Kwon deceived investors about the stability of their so-called “algorithmic” native stablecoin, Terra USD (UST), and the use cases of the Terra blockchain.
The SEC, which filed for final judgment two weeks after the conclusion of the hearing, demands that Terraform Labs and Kwon pay damages and precautionary interest in the amount of $ 4.74 billion. Additionally, the regulator is seeking damages totaling $520 million, including $420 million from Terraform Labs and $100 million directly from Kwon.
The SEC justified the total amount in an attached memorandum filed with the court, stating that Kwon and Terraform Labs “obtained over $4 billion in illicit profits (and likely much more) from their illegal conduct.”
According to court documents, LUNA and MIR sales to institutional investors amounted to $65.2 million and $4.3 million, respectively. LUNA and UST sales through Luna Foundation Guard (LFG) totaled $1.8 billion. Additionally, investors purchased $2.3 billion of UST across various cryptocurrency trading platforms between June 2021 and May 2022.
The SEC added that the penalty amount represents a “conservative” but “reasonable approach” to Terraform and Kwon's “ill-gotten gains.”
In addition to the hefty fines, the SEC is also seeking injunctive relief to prevent Kwon and Terraform Labs from committing further securities violations and buying or selling “any cryptoasset securities.” The regulator is also seeking an officer and director ban that would prohibit Kwon from serving as an officer or director of a public company reported by the SEC.
$LUNA #LUNA #TerraLabs
JUST IN
#TerraLabs Co-founder Do Kwon's Extradition Approved Once Again
Initially rejecting the US plea, Montenegro's Supreme Court recently overturned earlier decisions, reigniting US hopes of prosecuting Kwon for alleged fraud linked to the TerraUSD stablecoin's collapse.
Montenegro finds itself at the center of a legal tug-of-war between the United States and South Korea as its courts reconsider the extradition fate of Do Kwon, the co-founder of Terra Labs. A Montenegrin court has once again approved Do Kwon's extradition.
It is now up to Justice Minister Andrej Milovic to decide whether to extradite Do Kwon to the United States or South Korea. Milovic has been vocal in advocating for Kwon's extradition to the United States, signaling a potential victory for US authorities in their pursuit of justice.
However, with extradition requests from both South Korea and the US on the table, Montenegro faces the challenge of navigating complex jurisdictional waters.
Courtroom Drama Unfolds
The legal drama surrounding Kwon has been fraught with complexity. Earlier, a Montenegrin appeal court had rejected attempts to extradite Kwon to the US. However, a Bloomberg reports a twist in the tale: Montenegro's Supreme Court stepped in, nullifying previous decisions favoring South Korea's extradition request.
This turn of events breathes new life into US efforts to bring Kwon to trial over fraud allegations linked to the TerraUSD stablecoin's collapse in 2022.
US Legal Troubles Deepen
Meanwhile, in the United States, Kwon faces mounting legal troubles. A federal jury in New York has already found Kwon and Terraform Labs responsible for defrauding investors of billions of dollars.
The civil complaint, filed by the SEC, accuses Kwon and his company of orchestrating a fraudulent scheme that led to substantial market value losses.
$LUNA #Security #DoKwon
#TerraLabs Co-founder Do Kwon's Extradition Approved Once Again
Initially rejecting the US plea, Montenegro's Supreme Court recently overturned earlier decisions, reigniting US hopes of prosecuting Kwon for alleged fraud linked to the TerraUSD stablecoin's collapse.
Montenegro finds itself at the center of a legal tug-of-war between the United States and South Korea as its courts reconsider the extradition fate of Do Kwon, the co-founder of Terra Labs. A Montenegrin court has once again approved Do Kwon's extradition.
It is now up to Justice Minister Andrej Milovic to decide whether to extradite Do Kwon to the United States or South Korea. Milovic has been vocal in advocating for Kwon's extradition to the United States, signaling a potential victory for US authorities in their pursuit of justice.
However, with extradition requests from both South Korea and the US on the table, Montenegro faces the challenge of navigating complex jurisdictional waters.
Courtroom Drama Unfolds
The legal drama surrounding Kwon has been fraught with complexity. Earlier, a Montenegrin appeal court had rejected attempts to extradite Kwon to the US. However, a Bloomberg reports a twist in the tale: Montenegro's Supreme Court stepped in, nullifying previous decisions favoring South Korea's extradition request.
This turn of events breathes new life into US efforts to bring Kwon to trial over fraud allegations linked to the TerraUSD stablecoin's collapse in 2022.
US Legal Troubles Deepen
Meanwhile, in the United States, Kwon faces mounting legal troubles. A federal jury in New York has already found Kwon and Terraform Labs responsible for defrauding investors of billions of dollars.
The civil complaint, filed by the SEC, accuses Kwon and his company of orchestrating a fraudulent scheme that led to substantial market value losses.
$LUNA #Security #DoKwon
😱 Whoa, talk about a plot twist in the Terra (LUNA) saga! 🌀 The SEC is bringing the thunder with a hefty $5.3 billion fine thundercloud over Terraform Labs and its co-founder, Do Kwon! ⚡ Looks like they're not playing around when it comes to alleged fraud and deception in the crypto world. 🕵️♂️
The jury's verdict paints a grim picture: Terraform Labs and Kwon allegedly led investors astray about the stability of their algorithmic stablecoin, Terra USD (UST), and the Terra blockchain's potential. 🏴☠️ Now, the SEC is aiming to reel in over $4 billion in "illicit profits" from these murky waters. 💰
According to court documents, the sales figures read like a crypto thriller: from LUNA and MIR to UST, the numbers are staggering! 💸 But amidst the chaos, the SEC claims to have a "conservative but reasonable approach" to reclaiming these ill-gotten gains. 📈
But wait, there's more! The SEC isn't stopping at fines – they're also seeking injunctive relief and a ban on Kwon serving as an officer or director of a public company! 🚫 It's a high-stakes game of legal chess in the crypto realm. ♟️
$LUNA #LUNA #TerraLabs
The jury's verdict paints a grim picture: Terraform Labs and Kwon allegedly led investors astray about the stability of their algorithmic stablecoin, Terra USD (UST), and the Terra blockchain's potential. 🏴☠️ Now, the SEC is aiming to reel in over $4 billion in "illicit profits" from these murky waters. 💰
According to court documents, the sales figures read like a crypto thriller: from LUNA and MIR to UST, the numbers are staggering! 💸 But amidst the chaos, the SEC claims to have a "conservative but reasonable approach" to reclaiming these ill-gotten gains. 📈
But wait, there's more! The SEC isn't stopping at fines – they're also seeking injunctive relief and a ban on Kwon serving as an officer or director of a public company! 🚫 It's a high-stakes game of legal chess in the crypto realm. ♟️
$LUNA #LUNA #TerraLabs
