Federal Reserve: We do not expect it to be appropriate to reduce the policy target range until there is greater confidence that inflation will move sustainably toward 2%.
Fed officials' median view on the end-2024 federal funds rate is 5.1% (previously 4.6%).
Federal Reserve: Inflation fell last year but remains high.
Federal Reserve: Risks to achieving policy goals have shifted toward better balance.
Federal Reserve: The economy continues to grow at a solid pace, job creation remains strong, and the unemployment rate remains low.
The Fed's forecasts envisage an interest rate cut of 25 basis points from the current level in 2024 and another 100 basis points in 2025.
Federal Reserve: We will continue to reduce our holdings of Treasuries and mortgage-backed securities.
Federal Reserve: Despite the lack of progress noted in its May 1 statement, modest progress has been made toward the 2% inflation target.
The document appears to be a letter addressed to Judge Jed S. Rakoff of the Securities and Exchange Commission (SEC) regarding the case "SEC v. Terraform Labs et al." Letter, Terraform Labs PTE Ltd. ("Terraform") and a request for approval of the proposed final approval decision against Do Hyeong Kwon ("Kwon"). The main points in the document are: 1. **Context and Purpose**: - SEC, Terraform Labs PTE Ltd after the jury decision. (“Terraform”) and requests approval of the proposed final consent decree against Do Hyeong Kwon (“Kwon”). The jury found the defendants liable for a massive securities fraud. - The decision aims to impose significant penalties and deterrent measures to address massive fraud, ensuring financial recovery for investors who suffered losses when Terraform's scheme collapsed. 2. **Proposed Decision Details**: - The decision includes both financial and precautionary measures: - Recovery of millions of dollars of legitimate profits and interest. - Major civil penalty. - Measures aimed at preventing future securities law violations by Kwon and Terraform, especially those related to crypto assets. 3. **Special Conditions of the Agreement**: - The agreement includes the transfer of hundreds of millions of dollars of assets to the SEC. - Specific financial penalties and amounts to be recovered are specified, for example: - $4,473,828,300 amount to be recovered. - $466,952,423 statutory interest. - $80,000,000,000 civil penalty. 4. **Precautionary Measures**: - Prohibits Kwon from engaging in securities transactions involving crypto assets. -Prohibits Kwon from serving as an officer or director of a public company. - Prevents Kwon from participating in activities related to the issuance, purchase, offer or sale of any securities.
Terraform Labs PTE Ltd. and Statement on the Jury Verdict in the Do Kwon Trial
Gurbir S.Grewal
Director, Enforcement Office
April 5, 2024
Today, after a nine-day trial, a jury in the United States District Court for the Southern District of New York indicted Terraform Labs PTE Ltd. and found Do Kwon responsible for defrauding investors in crypto asset securities. Previously, the Court found that Terraform Labs and Kwon unlawfully offered and sold cryptoasset securities in violation of the registration provisions of the Securities Act of 1933.
Statement from SEC Enforcement Division Director Gurbir S. Grewal:
“We are pleased with today's jury verdict holding Terraform Labs and Do Kwon liable for a massive crypto fraud. Terraform Labs and its former CEO Kwon deceived investors about the security and stability of the crypto asset called Terraform USD and also misled investors about whether a popular payment app was using Terraform's blockchain to process and settle payments. With these scams, the defendants caused devastating losses for investors and wiped out tens of billions of dollars in market value almost overnight. Despite all the promises of cryptocurrency, the lack of registration and compliance has very serious consequences for real people. "As our team's hard work demonstrates, we will continue to use the tools at our disposal to protect the investing public, but it is time for crypto markets to align."
Friends, if Bitcoin cannot break the 64k band until 07.00 in the morning on Tuesday, March 5th or after the time expires, it will first retreat to 59800, if it cannot hold, it will retreat to the 58700 band, let's follow this period and price. If you are in a short transaction, keep your stop at 64k, good luck, the current price is 62......$BTC
$LUNC Do Kwon is going to the USA, albeit delayed. He will appear at the hearing on March 25.
We're almost at the end of Do Kwon. The tail of the calf will be cut off in the USA.
It was reported that Do Kwon also requested extradition to the USA. This decision was taken, albeit delayed. Do Kwon will be extradited to the United States, not his home country of South Korea.
You had these dreams for Shib during the $LUNC $SHIB period, now ridiculous comments are being made for lunch. Wake up from the dream that it will be 1$, now lunch Max is 0.02... It will happen, don't live your dreams too long.
#Lunc $LUNC , what happened, the alt coins are going, you are in your place like an ox looks at the train @TerraHaberTR @LUNC_Manager where are you, you always say it is flying, have you run out of gas, they are all green, you are red 🔥🔥🔥 you are burning us, not yourself #Lunc @TerraHaberTR sound up, loud aloooo