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Do Kwon appears in court in the United States, pleads not guilty
On January 2, 2025, Do Kwon appeared in court in the United States and pleaded not guilty in the first hearing since his extradition. The collapse of Terra in 2022 caused one of the biggest crises in cryptocurrency history, wiping out billions of dollars of investor capital.
Serious charges
Do Kwon is facing a series of serious charges, including securities fraud, wire fraud, money laundering, and market manipulation. Prosecutors allege that he engaged in a series of fraudulent activities to artificially maintain the value of the stablecoin TerraUSD (UST) and the Luna token before both of these cryptocurrencies completely collapsed in 2022, causing billions of dollars in losses to global investors.
Serious charges
Do Kwon is facing a series of serious charges, including securities fraud, wire fraud, money laundering, and market manipulation. Prosecutors allege that he engaged in a series of fraudulent activities to artificially maintain the value of the stablecoin TerraUSD (UST) and the Luna token before both of these cryptocurrencies completely collapsed in 2022, causing billions of dollars in losses to global investors.
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🔥 Cryptocurrency World Earthquake! Do Kwon Extradited to the U.S., Did You Guess the Outcome? 🤔
Do you remember Do Kwon, the founder of Terraform Labs, who caused global investors to lose everything due to the collapse of the stablecoin TerraUSD (UST)? After ten months on the run, he was finally captured in Montenegro! And now, even more explosive news has arrived — Do Kwon will be extradited to the U.S. for trial!
😲 Imagine, this once-glorious cryptocurrency giant has now become the 'hot potato' that judicial departments from various countries are scrambling for. South Korea and the United States both want him to face trial on their turf. And Do Kwon, like a hot potato, has spent a full 21 months in Montenegro and finally has a 'home' — the United States!
🤔 But have you ever thought about why the U.S. won this extradition battle? Is it merely because their laws are harsher? In fact, the legal provisions, international relations, and judicial maneuvering involved are far more complicated than we can imagine!
💡 Here comes a deep analysis: The U.S. prosecutors have invested heavily, not only wanting Do Kwon to pay for his fraudulent actions but also to make him disgorge illegal gains and compensate the victims. As for South Korea, while they also want him back for trial, compared to the U.S., their legal tools seem to be less sharp.
😏 Of course, this extradition drama is not over yet. Do Kwon and his legal team will definitely not give up easily; they may continue to appeal, trying to change this 'fate'. But regardless, this prolonged extradition battle has already severely damaged Do Kwon's reputation and wealth.
🔥 Now, let us wait and see how this former cryptocurrency giant will perform in the U.S. court! Will he continue to be stubborn until the end, or will he choose to plead guilty? Everything will be revealed in the future court sessions!
⚠️ Friendly reminder: Investment carries risks, and one must be cautious when entering the market. But with Mlion's professional support and the convenient services of ML SWAP, your every decision can be more stable and confident! 🌟
The above content is for information sharing only and does not constitute any investment advice!
🚀 Follow me for daily interpretations of market hotspots and sharing of investment opportunities!
#币圈资讯 #aicoins #UST
Do you remember Do Kwon, the founder of Terraform Labs, who caused global investors to lose everything due to the collapse of the stablecoin TerraUSD (UST)? After ten months on the run, he was finally captured in Montenegro! And now, even more explosive news has arrived — Do Kwon will be extradited to the U.S. for trial!
😲 Imagine, this once-glorious cryptocurrency giant has now become the 'hot potato' that judicial departments from various countries are scrambling for. South Korea and the United States both want him to face trial on their turf. And Do Kwon, like a hot potato, has spent a full 21 months in Montenegro and finally has a 'home' — the United States!
🤔 But have you ever thought about why the U.S. won this extradition battle? Is it merely because their laws are harsher? In fact, the legal provisions, international relations, and judicial maneuvering involved are far more complicated than we can imagine!
💡 Here comes a deep analysis: The U.S. prosecutors have invested heavily, not only wanting Do Kwon to pay for his fraudulent actions but also to make him disgorge illegal gains and compensate the victims. As for South Korea, while they also want him back for trial, compared to the U.S., their legal tools seem to be less sharp.
😏 Of course, this extradition drama is not over yet. Do Kwon and his legal team will definitely not give up easily; they may continue to appeal, trying to change this 'fate'. But regardless, this prolonged extradition battle has already severely damaged Do Kwon's reputation and wealth.
🔥 Now, let us wait and see how this former cryptocurrency giant will perform in the U.S. court! Will he continue to be stubborn until the end, or will he choose to plead guilty? Everything will be revealed in the future court sessions!
⚠️ Friendly reminder: Investment carries risks, and one must be cautious when entering the market. But with Mlion's professional support and the convenient services of ML SWAP, your every decision can be more stable and confident! 🌟
The above content is for information sharing only and does not constitute any investment advice!
🚀 Follow me for daily interpretations of market hotspots and sharing of investment opportunities!
#币圈资讯 #aicoins #UST
🔥 Why Did LUNC Crash from $119 to $0.00001 in a Single Day? 😱
🔥 Why Did LUNC Crash from $119 to $0.00001 in a Single Day? 😱
The catastrophic collapse of #LUNC (Terra Classic) from $119 to $0.00001 in just one day remains one of the most shocking events in cryptocurrency history. Here’s a breakdown of the key reasons behind this dramatic fall:
1. Stablecoin Depeg
Terra’s algorithmic stablecoin, UST, lost its peg to the US dollar. This shattered investor confidence, triggering a massive sell-off.
2. Liquidity Crisis
As UST’s value dropped, panic withdrawals flooded the Terra ecosystem. The available liquidity couldn’t handle the demand, worsening the situation.
3. Death Spiral Effect
The depeg and liquidity issues led to a vicious cycle. Investors dumped #UST and LUNC holdings, causing prices to plunge even further. This created a self-reinforcing downward spiral.
4. No Reserve Backing
Unlike other stablecoins, UST lacked a robust reserve of backing assets. This vulnerability made the crash almost inevitable once the peg broke.
5. Regulatory Pressures
Uncertainty about regulatory oversight added to the lack of confidence, further destabilizing Terra’s ecosystem.
This crash highlights the risks associated with algorithmic stablecoins and underscores the need for strong risk management, transparency, and regulatory compliance in the crypto world.
Lesson learned: Always DYOR (Do Your Own Research) before investing in any crypto project.
$ETH
$LUNC
#BinanceLaunchpoolVANA #MarketMajorComeback #RLUSDApprovalBoostXRP
The catastrophic collapse of #LUNC (Terra Classic) from $119 to $0.00001 in just one day remains one of the most shocking events in cryptocurrency history. Here’s a breakdown of the key reasons behind this dramatic fall:
1. Stablecoin Depeg
Terra’s algorithmic stablecoin, UST, lost its peg to the US dollar. This shattered investor confidence, triggering a massive sell-off.
2. Liquidity Crisis
As UST’s value dropped, panic withdrawals flooded the Terra ecosystem. The available liquidity couldn’t handle the demand, worsening the situation.
3. Death Spiral Effect
The depeg and liquidity issues led to a vicious cycle. Investors dumped #UST and LUNC holdings, causing prices to plunge even further. This created a self-reinforcing downward spiral.
4. No Reserve Backing
Unlike other stablecoins, UST lacked a robust reserve of backing assets. This vulnerability made the crash almost inevitable once the peg broke.
5. Regulatory Pressures
Uncertainty about regulatory oversight added to the lack of confidence, further destabilizing Terra’s ecosystem.
This crash highlights the risks associated with algorithmic stablecoins and underscores the need for strong risk management, transparency, and regulatory compliance in the crypto world.
Lesson learned: Always DYOR (Do Your Own Research) before investing in any crypto project.
$ETH
$LUNC
#BinanceLaunchpoolVANA #MarketMajorComeback #RLUSDApprovalBoostXRP
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Alright what now?
#BTC☀ What will he do from here? It is entirely my opinion that it will make a journey towards 59000, with ups and downs, and then it will have a stagnant period that will tire everyone. I think that the journey to 80000 and above will begin at a time when no one expects. Of course, this is just my opinion. In the middle of this fluctuation these days #TerraLunaClassic by #LUNC✅ #luna by #ust also It looks like there may be an increase. I think the news to come will be good. YTD.
#BTC☀ What will he do from here? It is entirely my opinion that it will make a journey towards 59000, with ups and downs, and then it will have a stagnant period that will tire everyone. I think that the journey to 80000 and above will begin at a time when no one expects. Of course, this is just my opinion. In the middle of this fluctuation these days #TerraLunaClassic by #LUNC✅ #luna by #ust also It looks like there may be an increase. I think the news to come will be good. YTD.
#ethi #ust #freeMining #Rewards
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Announcement!Earning some free coins on a web3 platform... it's a mining web3 platform and it also stores your crypto for you. It might be a new web3 platform to some persons, or it might be a Older web3 platform for some persons as well...checked it out.it mines for you every day it has it owed KYC as well At the end of every 24 hours click on the button to resume mining again. Link 👇👇👇👉 Bee Network is the world's largest web3 interactive platform. Join by invitation and earn Bee for bigger fortune with one click. Use my invitation code to join and get 1 Bee for free: mehtab143. Download at https://j.bee.com/s?a=coinambassador&f=username_profile👉Bee Network is the world's largest web3 interactive platform. Join by invitation and earn Bee for bigger fortune with one click. Use my invitation code to join and get 1 Bee for free: mehtab143. Download at https://j.bee.com/s?a=mehtab143 Network is the world's largest web3 interactive platform. Join by invitation and earn Bee for bigger fortune with one click. Use my invitation code to join and get 1 Bee for free: mehtab143. Download at Bee Network is the world's largest web3 interactive platform. Join by invitation and earn Bee for bigger fortune with one click. Use my invitation code to join and get 1 Bee for free: mehtab143. Download at https://j.bee.com/s?a=mehtab143
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##UST 📣📣UST Market Report📣📣
Dear investors, here is a quick overview of UST:
UST currently has a long position advantage at the 1-hour level, showing the market's bullish sentiment.
However, in the longer 2-4 hour level, UST is in a sideways fluctuation state, indicating that the market's long and short forces are relatively balanced. 🚨🚨🚨 Find the author Cfst888
Key price analysis:
Please pay special attention to the 2-hour long and short price: 0.02136. As long as this price is not broken as a support level, we can still expect the 1-hour level to continue to be bullish.
The upper target price can be focused on: 0.02245, 0.02327 and 0.02421.
But the market is always full of variables. If UST cannot stand on the 1-hour pressure level, we need to be alert to the risk that the market may turn bearish. At this time, the support level below will be the focus of our attention, and we need to pay attention to the following three positions: 0.02062, 0.02030 and 0.01923.
Risk management reminder:
Friends! In the trading process, the importance of risk management is self-evident. We strongly recommend that all investors first ensure defense, reasonably arrange stop loss and take profit, and then seek profit opportunities.
Please follow me, please read the comments to find an assistant, join us to provide free live broadcast guidance every week to help you better master relevant knowledge and skills. #USTC.每日智能策略 #USTC.智能策略库 #ust #UST
Dear investors, here is a quick overview of UST:
UST currently has a long position advantage at the 1-hour level, showing the market's bullish sentiment.
However, in the longer 2-4 hour level, UST is in a sideways fluctuation state, indicating that the market's long and short forces are relatively balanced. 🚨🚨🚨 Find the author Cfst888
Key price analysis:
Please pay special attention to the 2-hour long and short price: 0.02136. As long as this price is not broken as a support level, we can still expect the 1-hour level to continue to be bullish.
The upper target price can be focused on: 0.02245, 0.02327 and 0.02421.
But the market is always full of variables. If UST cannot stand on the 1-hour pressure level, we need to be alert to the risk that the market may turn bearish. At this time, the support level below will be the focus of our attention, and we need to pay attention to the following three positions: 0.02062, 0.02030 and 0.01923.
Risk management reminder:
Friends! In the trading process, the importance of risk management is self-evident. We strongly recommend that all investors first ensure defense, reasonably arrange stop loss and take profit, and then seek profit opportunities.
Please follow me, please read the comments to find an assistant, join us to provide free live broadcast guidance every week to help you better master relevant knowledge and skills. #USTC.每日智能策略 #USTC.智能策略库 #ust #UST
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SEC files new charge for $#Terra stablecoin (Formerly $USTC ) #UST
The SEC alleged that Tai Mo Shan misled investors by creating the impression that Terraform Labs’ algorithmic mechanism maintained the $1 peg value of UST. When the value of UST fell below $1 in May 2021, Tai Mo Shan and Terraform Labs entered into an agreement to stabilize the price.
Under this agreement, Terraform offered Tai Mo Shan discounted LUNA tokens to encourage him to purchase UST and restore the peg. On May 19, 2021, Tai Mo Shan temporarily stabilized the stablecoin’s price by purchasing more than $20 million worth of UST.
LUNA’s Sale as Unregistered Securities
The SEC’s findings revealed that Tai Mo Shan acted as a legal guarantor for Terraform Labs and purchased LUNA tokens for resale on American-based platforms.
From January 2021 to May 2022, Tai Mo Shan offered and sold these tokens as securities without being registered. The SEC stated that LUNA was classified as a security and that Tai Mo Shan distributed the cryptocurrency to the public.
The SEC stated that Tai Mo Shan’s actions were misleading to investors and that he was unaware of the external intervention-based stabilization. The company did not admit to the SEC’s investigation allegations but agreed to comply with the stay order to prevent future violations of the federal securities laws.
Tai Mo Shan will pay $73.45 million in restitution, $12.91 million in prior litigation interest, and $36.72 million in penalties. These penalties are intended to compensate for illegal profits made through deceptive acts and unregistered transactions. Terraform Labs and its founder Do Kwon have previously faced fraud charges and are facing a 4th World WarHe agreed to pay $5 billion.
The SEC alleged that Tai Mo Shan misled investors by creating the impression that Terraform Labs’ algorithmic mechanism maintained the $1 peg value of UST. When the value of UST fell below $1 in May 2021, Tai Mo Shan and Terraform Labs entered into an agreement to stabilize the price.
Under this agreement, Terraform offered Tai Mo Shan discounted LUNA tokens to encourage him to purchase UST and restore the peg. On May 19, 2021, Tai Mo Shan temporarily stabilized the stablecoin’s price by purchasing more than $20 million worth of UST.
LUNA’s Sale as Unregistered Securities
The SEC’s findings revealed that Tai Mo Shan acted as a legal guarantor for Terraform Labs and purchased LUNA tokens for resale on American-based platforms.
From January 2021 to May 2022, Tai Mo Shan offered and sold these tokens as securities without being registered. The SEC stated that LUNA was classified as a security and that Tai Mo Shan distributed the cryptocurrency to the public.
The SEC stated that Tai Mo Shan’s actions were misleading to investors and that he was unaware of the external intervention-based stabilization. The company did not admit to the SEC’s investigation allegations but agreed to comply with the stay order to prevent future violations of the federal securities laws.
Tai Mo Shan will pay $73.45 million in restitution, $12.91 million in prior litigation interest, and $36.72 million in penalties. These penalties are intended to compensate for illegal profits made through deceptive acts and unregistered transactions. Terraform Labs and its founder Do Kwon have previously faced fraud charges and are facing a 4th World WarHe agreed to pay $5 billion.
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The cryptocurrency market was in chaos when the prices of Terra's two tokens, $LUNA and #ust , fell from a market capitalization of more than $30 billion a week earlier to around $70 million. Players around the world almost lost their accounts after the crash, and "sharks" like Changpeng Zhao, founder of the cryptocurrency exchange Binance, or billionaire Michael Novogratz of the investment fund Galaxy Digital also lost hundreds of millions of dollars.
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📣📣…Today’s review…📣📣
⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️
5/10:
🔥🔥🔥💪💪💪…
#UST Yesterday afternoon, UsT’s deduction reached the second/third support level at 4.6 points, and then turned to long after a small wave of short orders. 🚨🚨🚨🔥🔥🔥Find the author Cfst888
💪💪💪Pay special attention: near the position of 0.02231. If this position can be successfully pulled back, then there will be many orders. Pressure level: near the two positions of 0.02258-0.02277.
Please follow me, please look at the comments to find my assistant, join us and we will provide free live broadcast guidance every week to help you better master relevant knowledge and skills. #USTC.每日智能策略 #UST #USTC.智能策略库 #ust
⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️
5/10:
🔥🔥🔥💪💪💪…
#UST Yesterday afternoon, UsT’s deduction reached the second/third support level at 4.6 points, and then turned to long after a small wave of short orders. 🚨🚨🚨🔥🔥🔥Find the author Cfst888
💪💪💪Pay special attention: near the position of 0.02231. If this position can be successfully pulled back, then there will be many orders. Pressure level: near the two positions of 0.02258-0.02277.
Please follow me, please look at the comments to find my assistant, join us and we will provide free live broadcast guidance every week to help you better master relevant knowledge and skills. #USTC.每日智能策略 #UST #USTC.智能策略库 #ust
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#luna #lunc #mir #ust
⚖️ Reuters: The SEC is ready to postpone the trial of Terraform Labs for the sake of Do Kwon's extradition.
The founder of Terraform Labs will be able to personally attend a hearing in the United States on charges of organizing a $40,000,000,000 cryptocurrency fraud.
Do Kwon is currently in Montenegro.
⚖️ Reuters: The SEC is ready to postpone the trial of Terraform Labs for the sake of Do Kwon's extradition.
The founder of Terraform Labs will be able to personally attend a hearing in the United States on charges of organizing a $40,000,000,000 cryptocurrency fraud.
Do Kwon is currently in Montenegro.
💰 NEW: The bankrupt Terraform Labs is looking to sell four of its companies as it winds down operations to comply with its multi-billion SEC deal.
Terraform's collapse started with the depegging of TerraUSD (UST), causing a crash in its related token, Terra Luna Classic (LUNC). The current token, Terra (LUNA), is also down 98% since its May 2022 peak of $18.87.
Did you invest in $LUNA back then?
🐳 - I did…
❤️ - I didn't
#ust #lunc #TeraLunaClassic #luna
Terraform's collapse started with the depegging of TerraUSD (UST), causing a crash in its related token, Terra Luna Classic (LUNC). The current token, Terra (LUNA), is also down 98% since its May 2022 peak of $18.87.
Did you invest in $LUNA back then?
🐳 - I did…
❤️ - I didn't
#ust #lunc #TeraLunaClassic #luna
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🔥 SEC FINES TAI MO SHAN FOR MARKET MANIPULATION
In a move aimed at deterring market manipulation in the cryptocurrency space, the SEC has fined Tai Mo Shan, a unit of Jump Trading, $123 million.
Investigations revealed that this company engaged in an opaque "market making" strategy with UST, purchasing a large amount of UST to support its price and receiving Luna tokens at attractive discounts in return.
This behavior clearly violates securities trading regulations and has caused harm to investors.
#SEC #UST #LUNA
In a move aimed at deterring market manipulation in the cryptocurrency space, the SEC has fined Tai Mo Shan, a unit of Jump Trading, $123 million.
Investigations revealed that this company engaged in an opaque "market making" strategy with UST, purchasing a large amount of UST to support its price and receiving Luna tokens at attractive discounts in return.
This behavior clearly violates securities trading regulations and has caused harm to investors.
#SEC #UST #LUNA