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🚨 Breaking News: Terraform Labs and Do Kwon Reach Temporary Settlement in SEC Fraud Case
Terraform Labs and Do Kwon have agreed to a temporary settlement in the SEC fraud case. This development marks a significant step towards resolving the legal challenges faced by the company and its founder. Stay tuned for more updates on this evolving situation.
#TerraformLabs #DoKwon #SEC
Terraform Labs and Do Kwon have agreed to a temporary settlement in the SEC fraud case. This development marks a significant step towards resolving the legal challenges faced by the company and its founder. Stay tuned for more updates on this evolving situation.
#TerraformLabs #DoKwon #SEC
“A Beautiful Day For Justice”: Researcher Celebrates Do Kwon’s Arrest
In a shocking turn of events, Do Kwon, the former CEO of Terraform Labs, has been arrested for his alleged involvement in the collapse of Terra and Luna in May of last year. The news was first shared by a former researcher of the company, known as FatMan, on his Twitter account on the 24th of March.
FatMan, who has been tracking Do Kwon since the collapse of the companies, shared his response to the news of Kwon’s arrest, stating “It’s a beautiful day for justice.” He went on to call Kwon “spineless, despicable, and soulless” for stealing money he did not need and for giving up time with his family for the sake of greed.
According to FatMan’s tweets, Kwon attempted to evade the authorities by illegally forging several travel documents. FatMan also revealed that Kwon had the opportunity to do the right thing and honor the Luna Foundation Guard (LFG) refund when the victims appealed in May of last year. He could have admitted everything when insiders came forward, or he could have turned himself in after a warrant was issued. However, Kwon chose to run and evade responsibility.
Twitter: @azcoinnews
The scale of Kwon’s alleged crimes is staggering. FatMan noted that stealing hundreds of millions of dollars requires a special and almost diabolical level of greed. In Kwon’s insatiable quest for wealth, he gave up years with his family that will never return. This is a tragic consequence of greed that has devastated countless individuals and families.
The arrest of Do Kwon is a significant development in the ongoing investigation into the collapse of Terra and Luna. It remains to be seen what charges Kwon will face and what the ultimate outcome of this case will be. However, it is clear that the actions of Kwon and others involved in the collapse of these companies have had far-reaching consequences that will be felt for years to come.
#Dokwon #Terra #TerraformLabs #LUNA #azcoinnews
This article was republished from azcoinnews.com
FatMan, who has been tracking Do Kwon since the collapse of the companies, shared his response to the news of Kwon’s arrest, stating “It’s a beautiful day for justice.” He went on to call Kwon “spineless, despicable, and soulless” for stealing money he did not need and for giving up time with his family for the sake of greed.
According to FatMan’s tweets, Kwon attempted to evade the authorities by illegally forging several travel documents. FatMan also revealed that Kwon had the opportunity to do the right thing and honor the Luna Foundation Guard (LFG) refund when the victims appealed in May of last year. He could have admitted everything when insiders came forward, or he could have turned himself in after a warrant was issued. However, Kwon chose to run and evade responsibility.
Twitter: @azcoinnews
The scale of Kwon’s alleged crimes is staggering. FatMan noted that stealing hundreds of millions of dollars requires a special and almost diabolical level of greed. In Kwon’s insatiable quest for wealth, he gave up years with his family that will never return. This is a tragic consequence of greed that has devastated countless individuals and families.
The arrest of Do Kwon is a significant development in the ongoing investigation into the collapse of Terra and Luna. It remains to be seen what charges Kwon will face and what the ultimate outcome of this case will be. However, it is clear that the actions of Kwon and others involved in the collapse of these companies have had far-reaching consequences that will be felt for years to come.
#Dokwon #Terra #TerraformLabs #LUNA #azcoinnews
This article was republished from azcoinnews.com
South Korean court denied to issue second arrest warrant for Daniel Shin, the co-founder of Terraform Labs. The court believed that he was not likely to run away or destroy evidence related to the collapse of Terra-Luna cryptocurrency.
#TerraformLabs #crypto2023
#TerraformLabs #crypto2023
Following the opening remarks given by the SEC and #DoKwon 's defense team, the #LUNC price is now in a recovery phase.
Do Kwon and #TerraformLabs are set to spend the next two weeks in federal court as they face charges of securities fraud.
On Monday, the parties presented their opening statements, which provide a glimpse into the evidence that will be presented by each.
The prices of $LUNA and $LUNC are both on the mend.
On Monday, when the rest of the market woke up, so did the prices of Terra Luna (LUNA) and Terra Classic (LUNC). Both cryptocurrencies are gaining traction and are part of the Terraform Labs ecosystem. This coincides with the start of Terraform Labs executive Do Kwon's trial with the US Securities and Exchange Commission (SEC).
The Do Kwon trial vs. the SEC
The trial between the SEC and Do Kwon began on Monday in a federal court in Manhattan. Despite the trial's initiation, the defendant was represented by his legal team and did not make an appearance. At the meeting on March 25, jury selection took place alongside opening statements.
The market lost more than $40 billion when Terraform Labs' TerraUSD "stablecoin" crashed in May 2022, and Do Kwon is suspected of being the mastermind behind this catastrophe. Director of the SEC's Division of Enforcement, Gurbir S. Grewal, echoed this sentiment when he laid out the basic problems with the Terraform ecosystem, pointing to a lack of "decentralization and financial integrity" as the main causes.
Grewal went on to say that the business was ripe for fraud and described it as an algorithmic "stablecoin" that was really manipulated by Do Kwon and the corporation rather than pre-existing technology.
At the same time, the prices of LUNA and LUNC are beginning to rise again. Both Terra Classic and Terra Luna have had price increases of around 3% and 2%, respectively. But the trial is only starting, so both cryptocurrencies are still in the dark. Members in the community should be prepared for instability because the trial is scheduled to run for two weeks.
Do Kwon and #TerraformLabs are set to spend the next two weeks in federal court as they face charges of securities fraud.
On Monday, the parties presented their opening statements, which provide a glimpse into the evidence that will be presented by each.
The prices of $LUNA and $LUNC are both on the mend.
On Monday, when the rest of the market woke up, so did the prices of Terra Luna (LUNA) and Terra Classic (LUNC). Both cryptocurrencies are gaining traction and are part of the Terraform Labs ecosystem. This coincides with the start of Terraform Labs executive Do Kwon's trial with the US Securities and Exchange Commission (SEC).
The Do Kwon trial vs. the SEC
The trial between the SEC and Do Kwon began on Monday in a federal court in Manhattan. Despite the trial's initiation, the defendant was represented by his legal team and did not make an appearance. At the meeting on March 25, jury selection took place alongside opening statements.
The market lost more than $40 billion when Terraform Labs' TerraUSD "stablecoin" crashed in May 2022, and Do Kwon is suspected of being the mastermind behind this catastrophe. Director of the SEC's Division of Enforcement, Gurbir S. Grewal, echoed this sentiment when he laid out the basic problems with the Terraform ecosystem, pointing to a lack of "decentralization and financial integrity" as the main causes.
Grewal went on to say that the business was ripe for fraud and described it as an algorithmic "stablecoin" that was really manipulated by Do Kwon and the corporation rather than pre-existing technology.
At the same time, the prices of LUNA and LUNC are beginning to rise again. Both Terra Classic and Terra Luna have had price increases of around 3% and 2%, respectively. But the trial is only starting, so both cryptocurrencies are still in the dark. Members in the community should be prepared for instability because the trial is scheduled to run for two weeks.
📰 Crypto market maker Jump Crypto gets court approval to privately submit evidence related to the SEC's lawsuit against Terraform Labs and its founder Do-kwon. The SEC alleges price manipulation of Terra USD (USTC), aiming for $1.28 billion in profits. Trial jury selection set for Jan 29, 2024. 🏛️💼 #CryptoNews #SEC #TerraformLabs
Where is Do Kwon?
A jury has found #TerraformLabs and its co-founder, #DoKwon liable for civil fraud charges brought by the Securities and Exchange Commission (SEC). The case, which began with closing arguments on Friday, lasted two weeks. The SEC accused Terraform and Kwon of misleading investors regarding the algorithmic stablecoin Terra #LUNA USD, which experienced a dramatic collapse in 2022, wiping out over $50 BILLION!
The #SEC alleged that #Terraform and Kwon raised billions from investors through unregistered transactions, misrepresenting the stability of UST, the stablecoin linked to the Terra blockchain. One key claim was that Kwon falsely stated that a Korean payments company, Chai, was using Terraform's blockchain for transactions.
The jury considered whether Kwon and Terraform violated federal securities laws by engaging in fraudulent activities related to Terraform securities. Judge Jed Rakoff granted summary judgment to the SEC on the claim of offering unregistered securities.
The SEC's Enforcement Director, Gurbir Grewal, stated that Kwon and Terraform misled investors about UST's stability, resulting in significant losses. Kwon, who was released from prison in Montenegro last month, faces criminal charges in multiple countries, including South Korea and the U.S. He remains in Montenegro, with legal proceedings ongoing.
Where is Do Kwon?
Do Kwon, recently released from prison in Montenegro, remains there facing criminal charges from multiple countries, including South Korea and the U.S. His lawyers reportedly prefer South Korea, where the maximum sentence for financial crimes is typically shorter than in the U.S., which allows consecutive sentences for each crime.
Kwon was arrested in Montenegro in March 2023 for using a counterfeit passport and agreed to be extradited to South Korea. He was sentenced to four months in prison for document forgery but lost his appeal and remains detained.
The #SEC alleged that #Terraform and Kwon raised billions from investors through unregistered transactions, misrepresenting the stability of UST, the stablecoin linked to the Terra blockchain. One key claim was that Kwon falsely stated that a Korean payments company, Chai, was using Terraform's blockchain for transactions.
The jury considered whether Kwon and Terraform violated federal securities laws by engaging in fraudulent activities related to Terraform securities. Judge Jed Rakoff granted summary judgment to the SEC on the claim of offering unregistered securities.
The SEC's Enforcement Director, Gurbir Grewal, stated that Kwon and Terraform misled investors about UST's stability, resulting in significant losses. Kwon, who was released from prison in Montenegro last month, faces criminal charges in multiple countries, including South Korea and the U.S. He remains in Montenegro, with legal proceedings ongoing.
Where is Do Kwon?
Do Kwon, recently released from prison in Montenegro, remains there facing criminal charges from multiple countries, including South Korea and the U.S. His lawyers reportedly prefer South Korea, where the maximum sentence for financial crimes is typically shorter than in the U.S., which allows consecutive sentences for each crime.
Kwon was arrested in Montenegro in March 2023 for using a counterfeit passport and agreed to be extradited to South Korea. He was sentenced to four months in prison for document forgery but lost his appeal and remains detained.
📰 U.S. SEC agrees to delay Terraform Labs trial, citing founder's absence and potential case merge, aiming to avoid double testimony. #SECApproval #TerraformLabs 🏛️🤝
💥 Judge Drops the Hammer: Terraform Labs' Tokens Deemed Unregistered Securities 💥
🚨Breaking News:🚨 US District Judge Jed Rakoff has delivered a significant ruling in the case against Terraform Labs, shaking the crypto world to its core! Judge Rakoff determined that four crypto tokens, including the infamous UST, LUNA, wLUNA, and MIR, were, in fact, unregistered securities! 😳
💥 Judge Rakoff's ruling means that Terraform Labs and Do Kwon violated federal securities laws by selling these crypto tokens without registering them with the SEC. 💼 This decision has major implications for the crypto industry and raises questions about the regulatory status of other cryptocurrencies.
⚖️ The ruling could set a precedent for future cases involving the classification of crypto tokens as securities, potentially leading to increased regulatory oversight.😤
Judge Rakoff's decision will undoubtedly send shockwaves through the crypto community, as many projects may now face closer scrutiny and potential regulatory action.
Stay tuned for further developments in this landmark case. The crypto landscape is changing rapidly, and we'll keep you updated on all the latest news and regulatory updates.
#TerraformLabs #UnregisteredSecurities #USTC/USDT #LUNA+4.07% #cryptoregulations
$LUNA $USTC $BTC
🚨Breaking News:🚨 US District Judge Jed Rakoff has delivered a significant ruling in the case against Terraform Labs, shaking the crypto world to its core! Judge Rakoff determined that four crypto tokens, including the infamous UST, LUNA, wLUNA, and MIR, were, in fact, unregistered securities! 😳
💥 Judge Rakoff's ruling means that Terraform Labs and Do Kwon violated federal securities laws by selling these crypto tokens without registering them with the SEC. 💼 This decision has major implications for the crypto industry and raises questions about the regulatory status of other cryptocurrencies.
⚖️ The ruling could set a precedent for future cases involving the classification of crypto tokens as securities, potentially leading to increased regulatory oversight.😤
Judge Rakoff's decision will undoubtedly send shockwaves through the crypto community, as many projects may now face closer scrutiny and potential regulatory action.
Stay tuned for further developments in this landmark case. The crypto landscape is changing rapidly, and we'll keep you updated on all the latest news and regulatory updates.
#TerraformLabs #UnregisteredSecurities #USTC/USDT #LUNA+4.07% #cryptoregulations
$LUNA $USTC $BTC
📣 Dohyung Kwon, founder of Terraform Labs (TFL), has once again appealed the extradition decision by the Montenegrin court. Kwon's lawyer asserted that the decision violated extradition provisions in the United States and other countries and may have been influenced by political pressure, emphasizing it works against the defendant. 🇲🇪⚖️ #DohyungKwonExtradition #TerraformLabs 🌐📰
Crypto Weekly Recap: SEC vs LBRY Credits and Ripple; Celsius Fined; European BTC ETF (July9-15 2023)
Welcome to another series of Melegaswap's Weekly Crypto News Recap, where we bring you the most exciting stories from the world of cryptocurrency for the week (July 9th to 15th, 2023).
This week witnessed significant surges in leading cryptocurrencies, driven by the American SEC vs. Ripple (XRP) case's excitement. #XRP soared by over 70% in 24 hours, while #bitcoin (BTC) surpassed $31,000 and Ethereum (ETH) went above $2,000.
Top stories include #CelsiusNetwork is facing a $4.7 billion fine from the US FTC. The allegations include misleading customers, misappropriating funds, and making unsecured loans. On top of that, CEO Alex Mashinsky is now facing fraud charges.
Over in South Korea, Terraform Labs' co-founder, Daniel Shin, is currently on trial for fraud. This is happening as his colleague, DO Kwon, is also in Montenegro, serving a 4-month jail term.
Amidst the controversies, there were some positive developments as well. Jacobi Asset Management successfully gave the green light for the launch of Europe's first Bitcoin ETF, providing investors with a new opportunity to enter the crypto market. In the United States, Representative Ritchie Torres has called for an investigation into the SEC's handling of digital assets, especially regarding its connections with Prometheum.
Meanwhile, a major victory for Ripple came in the form of winning a landmark case against the SEC. This triumph gave a huge boost to XRP, driving its value up by 70%. On the other hand, another leading crypto firm, LBRY Credits, lost against the SEC.
TOP CRYPTO NEWS RECAP: (JULY 9–15, 2023)
● Celsius network receives $4.7 billion fine from the FTC
● Terraform co-founder Daniel Shin's Trial unfolds in South Korea
● Jacobi ETF becomes Europe's first step into Bitcoin exchange-traded funds
● US Rep. Ritchie Torres demands an investigation of SEC's pact with Prometheum
● XRP skyrockets as Ripple triumphs over #SEC in historic legal battle
● A federal court ruled against LBRY Inc. in its lawsuit with SEC.
Celsius network receives $4.7 billion fine from the FTC
The Federal Trade Commission (FTC) has imposed a staggering $4.7 billion penalty on the bankrupt Celsius Network. The network's plans to return assets to consumers are now suspended. The FTC also banned Celsius and its affiliates from offering services related to cryptocurrency.
As alleged, the network misled customers, misappropriated funds, and made $1.2 billion in unsecured loans. CEO Alex Mashinsky was indicted on seven fraud-related charges and taken into custody. This came as Celsius Network is facing similar charges from the Securities and Exchange Commission (SEC) and the CFTC.
Terraform co-founder Daniel Shin's trial unfolds in South Korea
Daniel Shin, co-founder of #TerraformLabs , is now on trial in South Korea, along with seven others linked to the collapsed company. Shin was indicted for fraud and violating capital markets laws, resulting in the freezing of $184 million worth of assets. This was in connection with the collapse of Terra-Luna, an algorithmic stablecoin launched by Terraform Labs, which caused a $40 billion cryptocurrency loss in 2022.
Shin's defense team requested more time to prepare for the trial due to the technical complexities involved. This happened as Shin's co-founder, Do Kwon, is serving a four-month jail sentence in Montenegro for attempting to flee with a fake passport.
Jacobi ETF becomes Europe's first step into Bitcoin exchange-traded funds
Jacobi Asset Management, a London-based firm, is ready to launch Europe's first Bitcoin exchange-traded fund (ETF) after a year-long delay. Originally scheduled for July 2022, the listing was postponed due to market conditions caused by the Terra ecosystem and FTX collapses. However, citing increased demand, Jacobi decided to move forward with the ETF launch.
Unlike other European digital asset products, the Jacobi Bitcoin ETF is a centrally cleared instrument backed by cryptocurrency, offering direct ownership to investors. Approved by Guernsey's Financial Services Commission in October 2021, the ETF can be traded outside the US.
US Rep. Ritchie Torres demands an investigation of SEC's pact with Prometheum
US Representative Ritchie Torres has called for an investigation into the United States Securities and Exchange Commission (SEC) over its handling of digital assets. Torres specifically questions the SEC's "sweetheart deal" with crypto platform Prometheum, emphasizes Prometheum's questionable status as a true trading platform, and demands scrutiny of the SEC's failure to establish a workable registration process.
He said that “[The] SEC is acting like an overzealous traffic cop, arbitrarily ticketing drivers while keeping the speed limit a secret.”
XRP skyrockets as Ripple triumphs over SEC in historic legal battle
In a landmark case, Ripple has defeated the SEC's allegations that its XRP token is an unregistered security. The cryptocurrency market responded with enthusiasm, particularly XRP, which surged over 70% on Thursday.
District Judge Analisa Torres ruled that while some transactions involving XRP constituted securities, the token itself did not meet the criteria for an investment contract. This much-anticipated decision led XRP to skyrocket from $0.4 to above $0.8, briefly hitting the fourth spot in market capitalization.
Ripple's triumph could have implications for other cryptocurrencies labeled as "securities."
A federal court ruled against LBRY Inc. in its lawsuit with SEC
The US District Court for the District of New Hampshire has issued its final judgment in the SEC v. LBRY case. LBRY, Inc. has been found liable for violating Section 5 of the Securities Act of 1933. As such, LBRY is permanently restrained from participating in unregistered crypto asset securities offerings. This came the same week another US court ruled in favor of Ripple (XRP).
NEW LISTINGS ON MELEGASWAP
Chameleon (Chame)
The Chameleon project was built based on the recent meme trend. The Chameleons are tired of seeing crazy animals claim to be the king of memes; the dogs, cats, and even Pepe claim to be the king of memes. The chameleons are here to change the candle colors from RED to daily GREEN.
Prosperity Truth Coalition (PTC)
The Prosperity Truth Coalition Token Project is a reflection token Operating on the Binance Smart Chain with a custom Pro-Investor Staking Consensus model called Proof Of Holding, which rewards Bep20 XRP (Official Binance Pegged XRP Tokens) to stakers on a monthly basis.
BodeCoin (BODE)
BodeCoin, or $BODE, is a dynamic, community-driven memecoin hailing from the heart of Brazil and a tribute to the legendary "Bode Gaiato" meme. The self-proclaimed G-O-A-T community memecoin, BodeCoin rallies a growing community of fans, not just in Brazil, but around the globe, fueled by the universal language of laughter and shared digital culture.
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
This week witnessed significant surges in leading cryptocurrencies, driven by the American SEC vs. Ripple (XRP) case's excitement. #XRP soared by over 70% in 24 hours, while #bitcoin (BTC) surpassed $31,000 and Ethereum (ETH) went above $2,000.
Top stories include #CelsiusNetwork is facing a $4.7 billion fine from the US FTC. The allegations include misleading customers, misappropriating funds, and making unsecured loans. On top of that, CEO Alex Mashinsky is now facing fraud charges.
Over in South Korea, Terraform Labs' co-founder, Daniel Shin, is currently on trial for fraud. This is happening as his colleague, DO Kwon, is also in Montenegro, serving a 4-month jail term.
Amidst the controversies, there were some positive developments as well. Jacobi Asset Management successfully gave the green light for the launch of Europe's first Bitcoin ETF, providing investors with a new opportunity to enter the crypto market. In the United States, Representative Ritchie Torres has called for an investigation into the SEC's handling of digital assets, especially regarding its connections with Prometheum.
Meanwhile, a major victory for Ripple came in the form of winning a landmark case against the SEC. This triumph gave a huge boost to XRP, driving its value up by 70%. On the other hand, another leading crypto firm, LBRY Credits, lost against the SEC.
TOP CRYPTO NEWS RECAP: (JULY 9–15, 2023)
● Celsius network receives $4.7 billion fine from the FTC
● Terraform co-founder Daniel Shin's Trial unfolds in South Korea
● Jacobi ETF becomes Europe's first step into Bitcoin exchange-traded funds
● US Rep. Ritchie Torres demands an investigation of SEC's pact with Prometheum
● XRP skyrockets as Ripple triumphs over #SEC in historic legal battle
● A federal court ruled against LBRY Inc. in its lawsuit with SEC.
Celsius network receives $4.7 billion fine from the FTC
The Federal Trade Commission (FTC) has imposed a staggering $4.7 billion penalty on the bankrupt Celsius Network. The network's plans to return assets to consumers are now suspended. The FTC also banned Celsius and its affiliates from offering services related to cryptocurrency.
As alleged, the network misled customers, misappropriated funds, and made $1.2 billion in unsecured loans. CEO Alex Mashinsky was indicted on seven fraud-related charges and taken into custody. This came as Celsius Network is facing similar charges from the Securities and Exchange Commission (SEC) and the CFTC.
Terraform co-founder Daniel Shin's trial unfolds in South Korea
Daniel Shin, co-founder of #TerraformLabs , is now on trial in South Korea, along with seven others linked to the collapsed company. Shin was indicted for fraud and violating capital markets laws, resulting in the freezing of $184 million worth of assets. This was in connection with the collapse of Terra-Luna, an algorithmic stablecoin launched by Terraform Labs, which caused a $40 billion cryptocurrency loss in 2022.
Shin's defense team requested more time to prepare for the trial due to the technical complexities involved. This happened as Shin's co-founder, Do Kwon, is serving a four-month jail sentence in Montenegro for attempting to flee with a fake passport.
Jacobi ETF becomes Europe's first step into Bitcoin exchange-traded funds
Jacobi Asset Management, a London-based firm, is ready to launch Europe's first Bitcoin exchange-traded fund (ETF) after a year-long delay. Originally scheduled for July 2022, the listing was postponed due to market conditions caused by the Terra ecosystem and FTX collapses. However, citing increased demand, Jacobi decided to move forward with the ETF launch.
Unlike other European digital asset products, the Jacobi Bitcoin ETF is a centrally cleared instrument backed by cryptocurrency, offering direct ownership to investors. Approved by Guernsey's Financial Services Commission in October 2021, the ETF can be traded outside the US.
US Rep. Ritchie Torres demands an investigation of SEC's pact with Prometheum
US Representative Ritchie Torres has called for an investigation into the United States Securities and Exchange Commission (SEC) over its handling of digital assets. Torres specifically questions the SEC's "sweetheart deal" with crypto platform Prometheum, emphasizes Prometheum's questionable status as a true trading platform, and demands scrutiny of the SEC's failure to establish a workable registration process.
He said that “[The] SEC is acting like an overzealous traffic cop, arbitrarily ticketing drivers while keeping the speed limit a secret.”
XRP skyrockets as Ripple triumphs over SEC in historic legal battle
In a landmark case, Ripple has defeated the SEC's allegations that its XRP token is an unregistered security. The cryptocurrency market responded with enthusiasm, particularly XRP, which surged over 70% on Thursday.
District Judge Analisa Torres ruled that while some transactions involving XRP constituted securities, the token itself did not meet the criteria for an investment contract. This much-anticipated decision led XRP to skyrocket from $0.4 to above $0.8, briefly hitting the fourth spot in market capitalization.
Ripple's triumph could have implications for other cryptocurrencies labeled as "securities."
A federal court ruled against LBRY Inc. in its lawsuit with SEC
The US District Court for the District of New Hampshire has issued its final judgment in the SEC v. LBRY case. LBRY, Inc. has been found liable for violating Section 5 of the Securities Act of 1933. As such, LBRY is permanently restrained from participating in unregistered crypto asset securities offerings. This came the same week another US court ruled in favor of Ripple (XRP).
NEW LISTINGS ON MELEGASWAP
Chameleon (Chame)
The Chameleon project was built based on the recent meme trend. The Chameleons are tired of seeing crazy animals claim to be the king of memes; the dogs, cats, and even Pepe claim to be the king of memes. The chameleons are here to change the candle colors from RED to daily GREEN.
Prosperity Truth Coalition (PTC)
The Prosperity Truth Coalition Token Project is a reflection token Operating on the Binance Smart Chain with a custom Pro-Investor Staking Consensus model called Proof Of Holding, which rewards Bep20 XRP (Official Binance Pegged XRP Tokens) to stakers on a monthly basis.
BodeCoin (BODE)
BodeCoin, or $BODE, is a dynamic, community-driven memecoin hailing from the heart of Brazil and a tribute to the legendary "Bode Gaiato" meme. The self-proclaimed G-O-A-T community memecoin, BodeCoin rallies a growing community of fans, not just in Brazil, but around the globe, fueled by the universal language of laughter and shared digital culture.
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
LUNC technical analysis: Bears rally post bullish surge
The #TerraLunaClassic price prediction for 2024 factors in the asset's performance over the past year, influenced by developments, market volatility, and overall trends in the cryptocurrency landscape.
As the period of analysis began, LUNC was seen slightly above the pivotal mark of $0.000110. However, this position was short-lived, as bearish tendencies took the reins by mid-April. Furthermore, this pushed the altcoin’s value to settle just above the $0.000087 threshold.
June saw LUNC's price stabilize at this level, with an evident power struggle between buyers wanting to push prices up and sellers aiming to drive them down. This balance persisted until mid-July, after which sellers dominated the market, driving LUNC down to its lowest support level at $0.000056 by mid-September.
The narrative began to shift as October's market winds blew favorably for the bulls, catalyzing a vigorous rally that saw LUNC ascend to a peak resistance level of $0.000200 by November. The exuberance of this rally waned come December, ushering in a downtrend that saw #LUNC✅ descend past the critical support level of $0.000110 by January.
Undeterred by this setback, buyers rallied once again, elevating LUNC's price back to the $0.000200 benchmark by March. Yet, this resurgence was met with resistance, culminating in a price correction that morphed into a downtrend, effectively pulling prices down past the once steadfast $0.000110 level in April.
At the close of the analysis period, $LUNC was being traded at $0.000098. The token’s current market sentiments signify a bearish dominance. According to #CoinMarketCap , LUNC witnessed a 27% depreciation in price over the past month, with its trading volume plunging by 22% over the past 24 hours.
The crypto’s native community has rejected the proposal to form a core team and govern new developmental changes. Furthermore, a report by AMBCrypto stated that #TerraformLabs ’ co-founder.
#CryptoWatchMay2024
The #TerraLunaClassic price prediction for 2024 factors in the asset's performance over the past year, influenced by developments, market volatility, and overall trends in the cryptocurrency landscape.
As the period of analysis began, LUNC was seen slightly above the pivotal mark of $0.000110. However, this position was short-lived, as bearish tendencies took the reins by mid-April. Furthermore, this pushed the altcoin’s value to settle just above the $0.000087 threshold.
June saw LUNC's price stabilize at this level, with an evident power struggle between buyers wanting to push prices up and sellers aiming to drive them down. This balance persisted until mid-July, after which sellers dominated the market, driving LUNC down to its lowest support level at $0.000056 by mid-September.
The narrative began to shift as October's market winds blew favorably for the bulls, catalyzing a vigorous rally that saw LUNC ascend to a peak resistance level of $0.000200 by November. The exuberance of this rally waned come December, ushering in a downtrend that saw #LUNC✅ descend past the critical support level of $0.000110 by January.
Undeterred by this setback, buyers rallied once again, elevating LUNC's price back to the $0.000200 benchmark by March. Yet, this resurgence was met with resistance, culminating in a price correction that morphed into a downtrend, effectively pulling prices down past the once steadfast $0.000110 level in April.
At the close of the analysis period, $LUNC was being traded at $0.000098. The token’s current market sentiments signify a bearish dominance. According to #CoinMarketCap , LUNC witnessed a 27% depreciation in price over the past month, with its trading volume plunging by 22% over the past 24 hours.
The crypto’s native community has rejected the proposal to form a core team and govern new developmental changes. Furthermore, a report by AMBCrypto stated that #TerraformLabs ’ co-founder.
#CryptoWatchMay2024
JUST IN : SEC seeks $5.3 billion from #Terraform Labs.
The Security and Exchange Commission 🇺🇸 has filed a motion to seek $5.3 billion in damages and civil penalties from Terraform Labs and co-founder Do Kwon after a civil case verdict.
Follow for the latest in the space.
#DoKwon #TerraformLabs #SECCrypto
The Security and Exchange Commission 🇺🇸 has filed a motion to seek $5.3 billion in damages and civil penalties from Terraform Labs and co-founder Do Kwon after a civil case verdict.
Follow for the latest in the space.
#DoKwon #TerraformLabs #SECCrypto
Montenegro Approves Do Kwon's Extradition Appeal. 👨🏻⚖️🦹🏻♂️✈️
In a surprising turn of events, Montenegro's court has rejected the extradition appeal for Do Kwon, the founder of Terraform Labs. Kwon, facing fraud charges linked to the collapse of the Terra ecosystem in mid-2022, had sought refuge in Montenegro as the U.S. government aimed to bring him to trial.
The collapse of Terra resulted in substantial losses for investors, amounting to billions. The latest decision by Montenegro's court contradicts the previous stance, raising questions about the legal trajectory of the case.
As the saga unfolds, the U.S. government persists in its efforts to secure Kwon's extradition, citing his alleged involvement in the failure of Terra. The intricate intersection of crypto markets and legal battles continues to captivate the industry.
Stay tuned for further updates as we navigate through the evolving crypto landscape and closely monitor the legal developments surrounding Do Kwon and Terraform Labs.
#DoKwon #Terraform #TerraformLabs #TerraLunaClassic #terraluna
In a surprising turn of events, Montenegro's court has rejected the extradition appeal for Do Kwon, the founder of Terraform Labs. Kwon, facing fraud charges linked to the collapse of the Terra ecosystem in mid-2022, had sought refuge in Montenegro as the U.S. government aimed to bring him to trial.
The collapse of Terra resulted in substantial losses for investors, amounting to billions. The latest decision by Montenegro's court contradicts the previous stance, raising questions about the legal trajectory of the case.
As the saga unfolds, the U.S. government persists in its efforts to secure Kwon's extradition, citing his alleged involvement in the failure of Terra. The intricate intersection of crypto markets and legal battles continues to captivate the industry.
Stay tuned for further updates as we navigate through the evolving crypto landscape and closely monitor the legal developments surrounding Do Kwon and Terraform Labs.
#DoKwon #Terraform #TerraformLabs #TerraLunaClassic #terraluna
Attorneys of Terraform Labs CEO Do Kwon, have denied the charges of using fraudulent travel documents and recommended a bail of $437,000 for his release.
#TerraformLabs #crypto2023
#TerraformLabs #crypto2023
Terraform Labs’ Bankruptcy: Response to SEC Charges?
In a surprising turn of events for the Terra community, Terraform Labs has filed for Chapter 11 bankruptcy.
Cryptos Headlines Platform Has Launched Its Native Token's Airdrop for the Public Join Airdrop Now on https://cryptosheadlinestoken.com/
CEO Chris Amani is leading this strategic move, initiated on January 21 in the U.S. Bankruptcy Court for the District of Delaware, as a means to strengthen the company’s position amidst an ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC). Utilizing bankruptcy laws as a protective shield, Terraform Labs challenges the SEC’s lawsuit, arguing against the classification of crypto assets within Terra’s domain as securities.
Terraform Labs’ Bankruptcy Hearing: A Crucial Moment
Today marks a pivotal day for Terraform Labs as they attend their first U.S. bankruptcy hearing. This filing isn’t merely a legal maneuver but a deliberate strategy aimed at reinforcing their defense against the SEC’s multibillion-dollar allegations. The potential to sidestep the typical hefty bond requirement adds an intriguing dimension to this unfolding narrative.
Chris Amani elaborates that the bankruptcy move could alleviate a substantial financial burden. The filing sheds light on the company’s financial standing, revealing assets and liabilities ranging from $100 million to $500 million and involving 100 to 199 creditors.
The SEC has accused Terraform Labs and co-founder Do Kwon of engaging in a “multibillion-dollar crypto asset securities fraud” related to TerraClassicUSD and Luna. A recent court ruling has supported the SEC’s claims, setting the stage for a trial reminiscent of the FTX case.
In a December ruling in the U.S. District Court for the Southern District of New York, Judge Jed Rakoff sided with the SEC, affirming that Terra had issued unregistered securities. This legal victory bolsters the SEC’s case, heightening accusations of securities law violations.
Terraform Labs’ Bold Challenge to SEC Authority
Undeterred by the legal battle, Chris Amani asserts that their upcoming appeal isn’t merely a defense; it’s a direct challenge to the SEC’s authority. The argument posits that Terra’s crypto assets should not be categorized as securities, raising questions about the SEC’s jurisdiction. Notably, the company’s treasury holds approximately $28 million in Bitcoin, $7 million in various cryptocurrencies, and around $87 million in Luna.
The situation further complicates as the SEC agrees to postpone Do Kwon’s trial until March 25, allowing time for extradition proceedings. Kwon faces potential extradition to South Korea, where he could potentially face a 40-year prison sentence for alleged crimes committed there.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#TerraformLabs #Terraform #Bitcoin #Altcoin #Cryptocurrency
Cryptos Headlines Platform Has Launched Its Native Token's Airdrop for the Public Join Airdrop Now on https://cryptosheadlinestoken.com/
CEO Chris Amani is leading this strategic move, initiated on January 21 in the U.S. Bankruptcy Court for the District of Delaware, as a means to strengthen the company’s position amidst an ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC). Utilizing bankruptcy laws as a protective shield, Terraform Labs challenges the SEC’s lawsuit, arguing against the classification of crypto assets within Terra’s domain as securities.
Terraform Labs’ Bankruptcy Hearing: A Crucial Moment
Today marks a pivotal day for Terraform Labs as they attend their first U.S. bankruptcy hearing. This filing isn’t merely a legal maneuver but a deliberate strategy aimed at reinforcing their defense against the SEC’s multibillion-dollar allegations. The potential to sidestep the typical hefty bond requirement adds an intriguing dimension to this unfolding narrative.
Chris Amani elaborates that the bankruptcy move could alleviate a substantial financial burden. The filing sheds light on the company’s financial standing, revealing assets and liabilities ranging from $100 million to $500 million and involving 100 to 199 creditors.
The SEC has accused Terraform Labs and co-founder Do Kwon of engaging in a “multibillion-dollar crypto asset securities fraud” related to TerraClassicUSD and Luna. A recent court ruling has supported the SEC’s claims, setting the stage for a trial reminiscent of the FTX case.
In a December ruling in the U.S. District Court for the Southern District of New York, Judge Jed Rakoff sided with the SEC, affirming that Terra had issued unregistered securities. This legal victory bolsters the SEC’s case, heightening accusations of securities law violations.
Terraform Labs’ Bold Challenge to SEC Authority
Undeterred by the legal battle, Chris Amani asserts that their upcoming appeal isn’t merely a defense; it’s a direct challenge to the SEC’s authority. The argument posits that Terra’s crypto assets should not be categorized as securities, raising questions about the SEC’s jurisdiction. Notably, the company’s treasury holds approximately $28 million in Bitcoin, $7 million in various cryptocurrencies, and around $87 million in Luna.
The situation further complicates as the SEC agrees to postpone Do Kwon’s trial until March 25, allowing time for extradition proceedings. Kwon faces potential extradition to South Korea, where he could potentially face a 40-year prison sentence for alleged crimes committed there.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#TerraformLabs #Terraform #Bitcoin #Altcoin #Cryptocurrency
Seoul Southern District Court will hold the first trial on May 26th for co-founder of Terraform Labs, Shin Hyun-seung and seven other associates who are facing charges related to the collapse of Terraform Labs.
#TerraformLabs #crypto #crypto2023
#TerraformLabs #crypto #crypto2023
A federal court in Montenegro has ruled that Do Kwon, the founder of the bankrupt crypto project Terraform Labs, would be extradited to his home country, South Korea.
#TerraformLabs #Crypto #TrendingTopic: #CryptoNews🔒📰🚫 #CryptoNewsUpdate
#TerraformLabs #Crypto #TrendingTopic: #CryptoNews🔒📰🚫 #CryptoNewsUpdate
Latest Update in SEC’s $5 Billion Lawsuit Against Terra ($LUNA ): Key Developments & Implications for Crypto Investors
The SEC and Terraform Labs are locked in a legal battle over alleged fraudulent activities, with the SEC demanding a hefty $5.3 billion fine. This article delves into the details of the case and its implications for the crypto industry.
SEC’s Accusations Against Terraform Labs and Do Kwon
The SEC has countered this claim, arguing that Terraform Labs “targeted US investors” and therefore should pay a heavy penalty of $5.3 billion, most of which is compensation. However, Terraform’s lawyers have objected to this, stating, “… the SEC has not presented any evidence that the Defendants’ limited activities in the US directly led to any losses, losses in the US are far below the billions of dollars the SEC is demanding.”
Previous Allegations and Legal Proceedings
The SEC had previously accused Terraform Labs and its co-founder Do Kwon in February 2023 over the algorithmic stablecoin Terra USD (UST). This accusation came after UST dramatically crashed a year ago. Last month, a jury found both Terraform Labs and Kwon guilty of misleading investors, holding them legally responsible for fraud.
The Impact on #algorithmic Stablecoins
Algorithmic stablecoins like UST use market incentives through algorithms to maintain a stable price. Terra was linked to Luna, a governance token used to balance prices. However, UST crashed in May 2022, resulting in a loss of more than $50 billion. The ongoing legal battle between Terraform Labs and the SEC continues, maintaining uncertainty about the future of the company and cryptocurrencies.
Conclusion
The legal tussle between #TerraformLabs and the SEC is a significant development in the crypto space, highlighting the regulatory challenges that crypto companies face. The outcome of this case could set a precedent for future legal actions against crypto companies, particularly those dealing with #Stablecoins .
#CryptoWatchMay2024 #BTC
The SEC and Terraform Labs are locked in a legal battle over alleged fraudulent activities, with the SEC demanding a hefty $5.3 billion fine. This article delves into the details of the case and its implications for the crypto industry.
SEC’s Accusations Against Terraform Labs and Do Kwon
The SEC has countered this claim, arguing that Terraform Labs “targeted US investors” and therefore should pay a heavy penalty of $5.3 billion, most of which is compensation. However, Terraform’s lawyers have objected to this, stating, “… the SEC has not presented any evidence that the Defendants’ limited activities in the US directly led to any losses, losses in the US are far below the billions of dollars the SEC is demanding.”
Previous Allegations and Legal Proceedings
The SEC had previously accused Terraform Labs and its co-founder Do Kwon in February 2023 over the algorithmic stablecoin Terra USD (UST). This accusation came after UST dramatically crashed a year ago. Last month, a jury found both Terraform Labs and Kwon guilty of misleading investors, holding them legally responsible for fraud.
The Impact on #algorithmic Stablecoins
Algorithmic stablecoins like UST use market incentives through algorithms to maintain a stable price. Terra was linked to Luna, a governance token used to balance prices. However, UST crashed in May 2022, resulting in a loss of more than $50 billion. The ongoing legal battle between Terraform Labs and the SEC continues, maintaining uncertainty about the future of the company and cryptocurrencies.
Conclusion
The legal tussle between #TerraformLabs and the SEC is a significant development in the crypto space, highlighting the regulatory challenges that crypto companies face. The outcome of this case could set a precedent for future legal actions against crypto companies, particularly those dealing with #Stablecoins .
#CryptoWatchMay2024 #BTC
