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Brace For Impact: Court Orders Massive LUNC Burn As Part Of $4.5 Billion Settlement For Terraform Labs

[Oct 23 6:00 PM] The Terra Classic community is preparing for a supply shock that the LUNC coin could soon face. This is based on a court settlement that has mandated Terraform Labs to burn the tokens in their possession.  Court Orders LUNC Burn As Part Of…

Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy

[Sep 19 9:10 PM] Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors…

After 2022’s Bust, Scars Are Healing In Crypto Lending

[Aug 21 6:53 PM] Innovative structures, attractive yields, and stronger risk management capabilities are driving a recovery in institutional crypto lending markets, says Craig Birchall, head of product at Membrane, an institutional loan management software provider…

3AC liquidators file $1.3B claim against Terraform Labs

[Aug 13 10:22 AM] 3AC liquidators alleged that Terraform Labs misled the Singaporean hedge fund about the stability of tokens in the Terra ecosystem.

Montenegrin Court Upholds Extradition of Terraform Labs Co-Founder Do Kwon to South Korea

[Aug 2 12:20 PM] In a significant legal development, a Montenegrin appeals court has upheld the decision to extradite Do Kwon, co-founder of Terraform Labs, to South Korea. Kwon, who has been in custody in Montenegro since March 2023 for attempting to travel with a…

Montenegro Appellate Court upholds Do Kwon extradition to South Korea

[Aug 1 5:36 PM] Since 2023, the decision to send the Terraform co-founder to South Korea or the United States has been contested in Montenegrin courts.

Terra Blockchain Restarts After $4M Exploit

[Jul 31 11:11 AM] A reentrancy attack earlier Wednesday briefly halted the network. It restarted after an “emergency” chain upgrade.

Terraform Labs to reopen Shuttle Bridge, destroy LUNA tokens

[Jul 19 7:04 AM] These developments indicate TFL’s proactive efforts to tackle Terra’s challenges and restore trust and stability within the ecosystem.

Terraform Labs to sell 4 companies as part of wind-down

[Jul 10 11:14 PM] 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.

President of Jump Crypto steps down

[Jun 24 2:35 PM] Kanav Kariya announced his resignation amid reports of a pending investigation into Jump Crypto’s activities and several incidents dating back to 2022.

US Court Filings Expose Montenegro’s Prime Minister’s Stake In Failed Terraform Labs

[Jun 20 10:00 PM] A recent Bloomberg report has revealed that Montenegro’s Prime Minister, Milojko Spajic, personally invested in Terraform Labs years before the company’s collapse. The discovery has raised concerns regarding the founder’s choice…

Montenegrin PM among early investors in Do Kwon’s Terraform Labs: Report

[Jun 19 2:46 AM] Prime Minister Spajic was among the early investors who invested in Terraform Labs just days before it was registered in Singapore on April 23, 2018.

Terraform Labs to shut down after $4.5B SEC settlement: Law Decoded

[Jun 17 1:05 PM] Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.

Ripple invokes SEC v. Terraform case, argues for smaller civil penalty

[Jun 14 10:07 AM] The blockchain firm’s case with the SEC has been ongoing since December 2020, when the regulator alleged Ripple used XRP as an unregistered security to raise funds.

US judge approves Terraform’s $4.5B settlement with SEC

[Jun 13 4:34 PM] A New York district court judge has rubber-stamped Terraform Labs and Do Kwon’s nearly $4.5 billion settlement with the SEC.

SEC may receive ‘only a fraction’ of Terraform’s settlement

[Jun 13 10:37 AM] The U.S. SEC still has to queue up behind secured creditors to receive a payment from Terraform Labs’ multibillion-dollar settlement, if any.

Terraform Labs ends operations, Terra community takes over

[Jun 13 7:25 AM] Terraform Labs ceases operations after a $4.47 billion settlement with the SEC, transferring control of the Terra blockchain to the community.

Terraform Labs to Dissolve After SEC Settlement, CEO Announces

[Jun 13 6:17 AM] Following a settlement with the U.S. Securities and Exchange Commission (SEC), Chris Amani, who succeeded Do Kwon as the CEO of Terraform Labs, disclosed that the blockchain firm is set to dissolve. Terraform Labs Set to Close Doors Post-SEC…

Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud Case

[Jun 12 12:10 PM]

BREAKING: Terraform to pay $4.47B to resolve SEC civil lawsuit

[Jun 12 11:35 AM] The settlement would resolve a civil lawsuit filed by the Securities and Exchange Commission following Terraform’s collapse in 2022.

Terraform, Do Kwon to reach fraud settlement with SEC

[May 30 10:18 AM] Terraform Labs and CEO Do Kwon are finalizing a settlement with the SEC. Both parties are expected to submit the final terms for court approval by mid-June.

Terraform, Do Kwon Agree in Principle to Settle Fraud Case With SEC: Court Filing

[May 30 10:04 AM] Terraform Labs and co-founder Do Kwon have tentatively agreed to settle a fraud case with the U.S. Securities and Exchange Commission (SEC), according to a court filing Thursday.

Do Kwon’s extradition to go back to Montenegro High Court after appeal

[May 24 10:18 AM] Since his arrest in March 2023, Do Kwon has been in Montenegro. He could be extradited to either his native South Korea or the United States to face fraud charges.

Montenegrin Justice Minister discussed Do Kwon’s case with SEC

[May 23 10:25 AM] The Terraform Labs co-founder was still in Montenegro as his lawyers and the courts considered requests for extradition to the U.S. and South Korea.

SEC pushes back against Terraform’s claims fraud happened outside US

[May 7 1:46 PM] Lawyers for the commission cited several examples of Do Kwon touting UST to U.S. investors and Terraform’s former communications head making false claims about the stablecoin.

Terraform claims SEC offered ‘no evidence’ for $4.7B in disgorgement

[May 2 3:52 PM] Lawyers for the firm claimed that any alleged losses caused by the platform’s or Do Kwon’s actions happened outside the United States, beyond the SEC’s authority in the civil case.

US Court to hear proposed remedies from Terraform Labs, Do Kwon in May

[Apr 30 3:33 PM] The SEC proposed that Do Kwon and Terraform pay roughly $5.3 billion in disgorgement, prejudgment interest and civil penalties, while the firm’s team suggested only $1 million.

Terraform proposes $1M penalty for SEC case, no relief or disgorgement

[Apr 29 3:30 PM] Lawyers for Terraform claimed that seeking disgorgement from the platform would involve the Luna Foundation Guard, a “non-party” in the SEC’s civil case.

Do Kwon appeals Montenegrin court decision, claiming ‘unfounded and illegal’ interpretation

[Apr 24 1:34 PM] The question of the Terraform co-founder’s extradition to either the U.S. or South Korea has been bouncing between lower and higher courts in Montenegro for months.

New Stablecoin Bill Faces Criticism for Stifling Innovation and Breaching First Amendment 

[Apr 20 3:25 PM] A new bill co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, aimed at regulating stablecoins, has drawn criticism for potentially stifling innovation and breaching First Amendment rights. The bill includes a provision that bans all…