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The Montenegrin Constitutional Court denied Do Kwon's extradition appeal
Montenegro's Constitutional Court dismissed Do Kwon's appeal, co-founder of Terraform Labs and a key role in TerraUSD (UST) and Luna's failure.
Kwon's attempts to fight the proceedings were dashed by the court's December 24 judgment, which supported the Minister of Justice's extradition power.
Kwon appealed and challenged a Supreme Court verdict that blocked his transport to South Korea, delegating extradition decision to Justice Minister Bojan Božović.
The Constitutional Court rejected these petitions, allowing the Justice Minister to decide Kwon's destiny.
Local sources say Montenegro may extradite him to the US rather than South Korea, with experts citing national interests.
Kwon, suspected of triggering $34 billion in Terra-Luna crash damages, fled South Korea in 2022 and is under investigation.
After going via Singapore, the UAE, and Serbia, he was caught in Montenegro for forging a passport.
Despite the verdict, Kwon's lawyers will likely fight to prevent his extradition to the U.S., where he faces many counts.
Montenegro has been requested to speed up the procedure by South Korean officials, who fear human rights breaches.
Kwon's extradition timeframe is unknown, but the court's ruling has limited his legal choices.
They will also be permanently barred from trading “crypto asset securities,” including Terra tokens.
After the SEC proposed a $5.3 billion penalty, Terraform Labs argued for a $1 million maximum punishment.
On June 6, Kwon and Terraform Labs' lawyers accepted the SEC's amended settlement offer of $4.5 billion.
Kwon, who is in Montenegro awaiting extradition, did not attend the settlement trial.
Terraform Labs, under Chapter 11 bankruptcy, must meet the settlement's large financial commitments.
Terraform Labs' CEO, Chris Amani, said that the firm had $150 million in assets.
However, how the corporation will pay the settlement's large penalty is unknown.
#LUNC #LUNA #MarketRebound #BTCNextMove #TerraForm $LUNC $LUNA $USTC
Montenegro's Constitutional Court dismissed Do Kwon's appeal, co-founder of Terraform Labs and a key role in TerraUSD (UST) and Luna's failure.
Kwon's attempts to fight the proceedings were dashed by the court's December 24 judgment, which supported the Minister of Justice's extradition power.
Kwon appealed and challenged a Supreme Court verdict that blocked his transport to South Korea, delegating extradition decision to Justice Minister Bojan Božović.
The Constitutional Court rejected these petitions, allowing the Justice Minister to decide Kwon's destiny.
Local sources say Montenegro may extradite him to the US rather than South Korea, with experts citing national interests.
Kwon, suspected of triggering $34 billion in Terra-Luna crash damages, fled South Korea in 2022 and is under investigation.
After going via Singapore, the UAE, and Serbia, he was caught in Montenegro for forging a passport.
Despite the verdict, Kwon's lawyers will likely fight to prevent his extradition to the U.S., where he faces many counts.
Montenegro has been requested to speed up the procedure by South Korean officials, who fear human rights breaches.
Kwon's extradition timeframe is unknown, but the court's ruling has limited his legal choices.
They will also be permanently barred from trading “crypto asset securities,” including Terra tokens.
After the SEC proposed a $5.3 billion penalty, Terraform Labs argued for a $1 million maximum punishment.
On June 6, Kwon and Terraform Labs' lawyers accepted the SEC's amended settlement offer of $4.5 billion.
Kwon, who is in Montenegro awaiting extradition, did not attend the settlement trial.
Terraform Labs, under Chapter 11 bankruptcy, must meet the settlement's large financial commitments.
Terraform Labs' CEO, Chris Amani, said that the firm had $150 million in assets.
However, how the corporation will pay the settlement's large penalty is unknown.
#LUNC #LUNA #MarketRebound #BTCNextMove #TerraForm $LUNC $LUNA $USTC
Billionaire-R:
Dead coin 🪙
Pessoal da terra labs tem capital para ressuscitar o repag da $USTC não fizeram até hoje por ganância.
concentraram o poder do token em monte de validadores de merda.
vou usar língua mais agressiva são uns filha da puta ...
#terraform
$LUNC $LUNA
concentraram o poder do token em monte de validadores de merda.
vou usar língua mais agressiva são uns filha da puta ...
#terraform
$LUNC $LUNA
See original
#LUNC✈️ #BTC
IT WAS SUPPLIED BY BTC FROM THE SAME WAY. BITCON IS VALUABLE TODAY. 8/05/2024. ?
.
$$ $$ #terraform #terraclassic #LUNC
IT WAS SUPPLIED BY BTC FROM THE SAME WAY. BITCON IS VALUABLE TODAY. 8/05/2024. ?
.
$$ $$ #terraform #terraclassic #LUNC
See original
#LUNC. GO 🚀💰 WHEN MOST ARE SOLD. THEN THERE’S NO USE OF CRYING 😪. #LUNC YOU CAME UP YOU DANCED. #terraform
Erotic Whale Waves: LUNC Surges 9% in Just 14 Minutes ($32.75 Million Funded)!
In a dramatic turn of events, Terra Classic (LUNC) experienced a notable price surge, jumping by 9% within a mere 14 minutes.
This rapid ascent, attributed to strategic movements by crypto whales, has left the market buzzing.
Price Surge:-
LUNC/USDT shot up from $0.00012558 by 8.30%, a significant hike in such a short time frame.
This surge underscores the volatile nature of the cryptocurrency market, where large players can trigger substantial price movements.
Trading Data and Market Insights:-
According to CoinMarketCap, the current price of LUNC stands at $0.00012558, reflecting an 8.30% increase.
The market cap for Terra Classic is approximately $734.11 million (₹61.16 billion), with a fully diluted market cap of $860.6 million (₹71.7 billion).
LUNC’s market dominance is 0.0288%, with a circulation supply of 5.8 trillion and a total supply of 6.79 trillion LUNC.
Whale Activity and Market Impact:-
Whale activity often plays a crucial role in such sharp price movements.
When these large holders of cryptocurrency make significant trades, the market reacts swiftly.
The recent 9% spike within 14 minutes suggests coordinated buying by these major investors, possibly in anticipation of positive developments or in response to strategic market positioning.
Historical Context:-
Launched on May 28, 2022, Terra Classic has seen its highs and lows.
Its all-time high was an impressive $119.1846 (₹9,929.271) on April 5, 2022, while the all-time low was $0.000016754152692 (₹0.001395788460776) on May 13, 2022.
Conclusion:-
The recent LUNC surge exemplifies the dynamic and unpredictable nature of the crypto market.
Investors should remain vigilant, understanding that such rapid price changes can present both opportunities and risks.
As always, it's crucial to conduct thorough research and consider market trends before making investment decisions.
#MtGox #Megadrop #EarnFreeCrypto2024 #ETHETFsApproved #altcoins $LUNC
In a dramatic turn of events, Terra Classic (LUNC) experienced a notable price surge, jumping by 9% within a mere 14 minutes.
This rapid ascent, attributed to strategic movements by crypto whales, has left the market buzzing.
Price Surge:-
LUNC/USDT shot up from $0.00012558 by 8.30%, a significant hike in such a short time frame.
This surge underscores the volatile nature of the cryptocurrency market, where large players can trigger substantial price movements.
Trading Data and Market Insights:-
According to CoinMarketCap, the current price of LUNC stands at $0.00012558, reflecting an 8.30% increase.
The market cap for Terra Classic is approximately $734.11 million (₹61.16 billion), with a fully diluted market cap of $860.6 million (₹71.7 billion).
LUNC’s market dominance is 0.0288%, with a circulation supply of 5.8 trillion and a total supply of 6.79 trillion LUNC.
Whale Activity and Market Impact:-
Whale activity often plays a crucial role in such sharp price movements.
When these large holders of cryptocurrency make significant trades, the market reacts swiftly.
The recent 9% spike within 14 minutes suggests coordinated buying by these major investors, possibly in anticipation of positive developments or in response to strategic market positioning.
Historical Context:-
Launched on May 28, 2022, Terra Classic has seen its highs and lows.
Its all-time high was an impressive $119.1846 (₹9,929.271) on April 5, 2022, while the all-time low was $0.000016754152692 (₹0.001395788460776) on May 13, 2022.
Conclusion:-
The recent LUNC surge exemplifies the dynamic and unpredictable nature of the crypto market.
Investors should remain vigilant, understanding that such rapid price changes can present both opportunities and risks.
As always, it's crucial to conduct thorough research and consider market trends before making investment decisions.
#MtGox #Megadrop #EarnFreeCrypto2024 #ETHETFsApproved #altcoins $LUNC
🚨📰 BREAKING NEWS 📰 🚨
A U.S. judge has sided with the SEC in the
Case asserting that Terraform Labs and its
Founder, Do Kwon, offered and sold
Unregistered securities, according to the court
ruling.
#SEC #terraform #Dokwon
A U.S. judge has sided with the SEC in the
Case asserting that Terraform Labs and its
Founder, Do Kwon, offered and sold
Unregistered securities, according to the court
ruling.
#SEC #terraform #Dokwon
🦅 BREAKING 🦅
A U.S. judge has sided with the SEC in the
case asserting that Terraform Labs and its
founder, Do Kwon, offered and sold
unregistered securities, according to the court
ruling.
#SEC #terraform #Dokwon
A U.S. judge has sided with the SEC in the
case asserting that Terraform Labs and its
founder, Do Kwon, offered and sold
unregistered securities, according to the court
ruling.
#SEC #terraform #Dokwon
Jury Convicts Terraform Labs and Do Kwon of Fraud
In a landmark decision by a New York jury, Terraform Labs along with its Co-Founder, Do Kwon, have been convicted of fraud, accused of misleading investors regarding the stability of its stablecoin, UST. The case stemmed from the dramatic collapse of Terra's UST in 2022, which resulted in a staggering $40 billion loss for investors, causing widespread turmoil within the cryptocurrency industry. This verdict comes after a two-week trial and represents a notable victory for the Securities and Exchange Commission (SEC) in its efforts to enhance regulatory control over the burgeoning digital currency market.
The outcome of this trial could also signal what might be expected in the upcoming criminal cases against Kwon, both in the United States and South Korea. In these jurisdictions, the thresholds for proving guilt are notably higher. Kwon, who holds a dominant 92% control over Terraform Labs, was apprehended in Montenegro on charges of using a fake passport. Currently, he is at the center of a legal tug-of-war concerning his extradition between the U.S. and South Korea, both of which are seeking to prosecute him for criminal fraud.
A recent decision by Montenegro’s Supreme Court has increased the likelihood of Kwon's extradition, overturning prior rulings that had recommended sending him to Seoul.
The jury, after less than two hours of deliberation, found that Kwon and Terraform Labs had falsely represented the capabilities of their blockchain technology in its application with Chai, a popular payment app in Korea. Moreover, the verdict highlighted the dissemination of misleading information regarding the stability of the UST stablecoin, which was allegedly designed to maintain a constant value tied to the US dollar through algorithmic means. This judgment underscores the growing scrutiny and legal challenges facing the crypto industry, particularly regarding the transparency and reliability of stablecoins and blockchain technology.
#crypto #fraud #dokwon #terraform
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The outcome of this trial could also signal what might be expected in the upcoming criminal cases against Kwon, both in the United States and South Korea. In these jurisdictions, the thresholds for proving guilt are notably higher. Kwon, who holds a dominant 92% control over Terraform Labs, was apprehended in Montenegro on charges of using a fake passport. Currently, he is at the center of a legal tug-of-war concerning his extradition between the U.S. and South Korea, both of which are seeking to prosecute him for criminal fraud.
A recent decision by Montenegro’s Supreme Court has increased the likelihood of Kwon's extradition, overturning prior rulings that had recommended sending him to Seoul.
The jury, after less than two hours of deliberation, found that Kwon and Terraform Labs had falsely represented the capabilities of their blockchain technology in its application with Chai, a popular payment app in Korea. Moreover, the verdict highlighted the dissemination of misleading information regarding the stability of the UST stablecoin, which was allegedly designed to maintain a constant value tied to the US dollar through algorithmic means. This judgment underscores the growing scrutiny and legal challenges facing the crypto industry, particularly regarding the transparency and reliability of stablecoins and blockchain technology.
#crypto #fraud #dokwon #terraform
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
See original
See original
Terraform agreed with the SEC: It will pay a fine of $ 4.47 billion.
The U.S. Securities and Exchange Commission (SEC) on Wednesday filed a “proposed final approval order” with U.S. District Court Judge Jed Rakoff for the Southern District of New York to approve the plan. Under the proposed verdict, Terraform will pay $3.58 billion in restitution, $420 million in civil penalties, and bar Do Kwon from becoming a director or officer of any public company.
Terraform Labs agreed to pay a $4.47 billion penalty after reaching a settlement with the US Securities and Exchange Commission (SEC) over its algorithmic stablecoin falling dramatically in 2022.
The SEC filed a “proposed final approval order” on Wednesday and asked U.S. District Court Judge Jed Rakoff for the Southern District of New York to approve the plan.
The SEC said in its court filing:
“The proposed consent judgment addresses the magnitude of this fraud, implements significant remedial, punitive, and deterrent measures, includes multibillion-dollar judgment, and ensures meaningful and expeditious relief for investor victims.
“If approved, the proposed resolution would send a clear deterrent message not only to those who engage in brazen behavior, but also to all individuals who attempt to establish new standards of conduct to evade the requirements of the federal securities laws.”
Terraform and its founder Do Kwon reached an “agreement in principle” with the SEC after oral argument was canceled in late May. Under the proposed verdict, Terraform will pay $3.58 billion in restitution, $420 million in civil penalties and bar Kwon from being a director or officer of any public company.
Kwon also must pay approximately $204 million “to the Terraform bankruptcy estate for distribution to injured investors,” the SEC said.
📈📉 #luna #lunc #ustc #terraform $LUNC $LUNA $USTC
The U.S. Securities and Exchange Commission (SEC) on Wednesday filed a “proposed final approval order” with U.S. District Court Judge Jed Rakoff for the Southern District of New York to approve the plan. Under the proposed verdict, Terraform will pay $3.58 billion in restitution, $420 million in civil penalties, and bar Do Kwon from becoming a director or officer of any public company.
Terraform Labs agreed to pay a $4.47 billion penalty after reaching a settlement with the US Securities and Exchange Commission (SEC) over its algorithmic stablecoin falling dramatically in 2022.
The SEC filed a “proposed final approval order” on Wednesday and asked U.S. District Court Judge Jed Rakoff for the Southern District of New York to approve the plan.
The SEC said in its court filing:
“The proposed consent judgment addresses the magnitude of this fraud, implements significant remedial, punitive, and deterrent measures, includes multibillion-dollar judgment, and ensures meaningful and expeditious relief for investor victims.
“If approved, the proposed resolution would send a clear deterrent message not only to those who engage in brazen behavior, but also to all individuals who attempt to establish new standards of conduct to evade the requirements of the federal securities laws.”
Terraform and its founder Do Kwon reached an “agreement in principle” with the SEC after oral argument was canceled in late May. Under the proposed verdict, Terraform will pay $3.58 billion in restitution, $420 million in civil penalties and bar Kwon from being a director or officer of any public company.
Kwon also must pay approximately $204 million “to the Terraform bankruptcy estate for distribution to injured investors,” the SEC said.
📈📉 #luna #lunc #ustc #terraform $LUNC $LUNA $USTC
SEC Files Lawsuit Against Terraform Labs for Cryptocurrency Fraud
The United States District Court for the Southern District of New York is the venue for a civil case in which the Securities and Exchange Commission (SEC) of the USA brings serious allegations against Terraform Labs.
Throughout the legal proceedings, SEC lawyers depict Terraform Labs as an entity with fraudulent tendencies, likening it to an unsustainable structure that inevitably collapsed, leaving many investors in significant financial distress.
Revealing Extensive Fraud by the SEC
The SEC boldly embarks on revealing extensive financial fraud committed by Terraform Labs and its co-founder Do Kwon. In the lawsuit, emphasizing the severity of the situation, the SEC accuses both parties of participating in a widespread cryptocurrency fraud. The SEC argues that it is the investors who bear the burden of this fraudulent behavior, having been misled by false information.
At the heart of the allegations is the stablecoin Terra, known as TerraUSD (UST), which detached from the US dollar, causing market turbulence and significant losses for investors.
Repercussions in the Crypto Market
The behavior of Terraform Labs has repercussions across the entire cryptocurrency market, with several companies struggling financially and, in some cases, on the verge of bankruptcy. This move by the SEC marks an important turn in the fight against cryptocurrency fraud, highlighting the need for increased vigilance and regulation.
Kwon's Absence and Legal Complications
During the ongoing process in New York, co-founder Do Kwon remains in Montenegro, facing charges of using forged documents. His legal fate remains uncertain due to legal difficulties and complications. However, the SEC continues its efforts to enforce justice.
The civil process, which was supposed to start in January, was postponed to March to consider the possibility of Kwon's personal attendance. The court's decision in favor of the SEC was significant, but at the same time, there was also a decision that played into Kwon's and his company's hands.
Expectations in the Crypto World
As the legal process against Terraform Labs continues, the entire cryptocurrency community awaits the verdicts of other significant players in the sector. Prominent figures such as former FTX CEO Sam Bankman-Fried and former Binance CEO Changpeng Zhao are dealing with their charges, revealing an increased level of scrutiny and responsibility in the crypto world.
SEC vs. Terraform Labs: A Pivotal Moment in Cryptocurrency Oversight
The civil lawsuit that the SEC is pursuing against Terraform Labs represents a significant milestone in the ongoing oversight of companies in the cryptocurrency sector. The SEC's accusations of widespread fraud and market manipulation could significantly affect future regulatory measures and actions in this rapidly developing industry. The development of this case and its outcomes are closely watched by the entire cryptocurrency community, which anticipates important decisions regarding investor protection and the overall integrity of the market environment.
#terraform #DoKwon #SEC
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Throughout the legal proceedings, SEC lawyers depict Terraform Labs as an entity with fraudulent tendencies, likening it to an unsustainable structure that inevitably collapsed, leaving many investors in significant financial distress.
Revealing Extensive Fraud by the SEC
The SEC boldly embarks on revealing extensive financial fraud committed by Terraform Labs and its co-founder Do Kwon. In the lawsuit, emphasizing the severity of the situation, the SEC accuses both parties of participating in a widespread cryptocurrency fraud. The SEC argues that it is the investors who bear the burden of this fraudulent behavior, having been misled by false information.
At the heart of the allegations is the stablecoin Terra, known as TerraUSD (UST), which detached from the US dollar, causing market turbulence and significant losses for investors.
Repercussions in the Crypto Market
The behavior of Terraform Labs has repercussions across the entire cryptocurrency market, with several companies struggling financially and, in some cases, on the verge of bankruptcy. This move by the SEC marks an important turn in the fight against cryptocurrency fraud, highlighting the need for increased vigilance and regulation.
Kwon's Absence and Legal Complications
During the ongoing process in New York, co-founder Do Kwon remains in Montenegro, facing charges of using forged documents. His legal fate remains uncertain due to legal difficulties and complications. However, the SEC continues its efforts to enforce justice.
The civil process, which was supposed to start in January, was postponed to March to consider the possibility of Kwon's personal attendance. The court's decision in favor of the SEC was significant, but at the same time, there was also a decision that played into Kwon's and his company's hands.
Expectations in the Crypto World
As the legal process against Terraform Labs continues, the entire cryptocurrency community awaits the verdicts of other significant players in the sector. Prominent figures such as former FTX CEO Sam Bankman-Fried and former Binance CEO Changpeng Zhao are dealing with their charges, revealing an increased level of scrutiny and responsibility in the crypto world.
SEC vs. Terraform Labs: A Pivotal Moment in Cryptocurrency Oversight
The civil lawsuit that the SEC is pursuing against Terraform Labs represents a significant milestone in the ongoing oversight of companies in the cryptocurrency sector. The SEC's accusations of widespread fraud and market manipulation could significantly affect future regulatory measures and actions in this rapidly developing industry. The development of this case and its outcomes are closely watched by the entire cryptocurrency community, which anticipates important decisions regarding investor protection and the overall integrity of the market environment.
#terraform #DoKwon #SEC
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“