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SEC nets record $8.2B from enforcement, mostly from Terraform Labs

[Nov 25 1:10 AM] Terraform Labs’ near $4.5 billion settlement with the SEC has contributed to a record year for the agency’s financial penalties.

Montenegro halts Do Kwon’s extradition again ahead of appeal ruling

[Oct 18 8:06 PM] Do Kwon’s extradition has been delayed again, to the surprise of the Justice Ministry.

Avalanche Foundation to buy back nearly 2M AVAX sold to Terra in 2022

[Oct 14 2:39 AM] In 2022, the Avalanche Foundation sold 1.97 million AVAX worth $100 million at the time to Terra’s foundation before its collapse. It’s now buying it all back for $45.5 million.

Crypto Companies paid $19B in Settlements to US Regulators in 2024

[Oct 13 2:26 AM] Since 2019, US regulators have collected a total of $31.92 billion in settlements from 25 crypto companies across various lawsuits. 

Crypto Biz: Bitfarms gets new board after months of power struggles

[Sep 27 9:30 PM] Bitfarms and Riot Platforms settle months of corporate disputes with board review, while BlackRock moves for changes to Bitcoin ETF withdrawals. 

Terraform Labs may close products, services in bankruptcy wind-down

[Sep 25 8:24 PM] Get it before Oct. 30, Terraform Labs tells the third parties it is discussion its wind-down with.

Do Kwon’s extradition case goes back to Montenegrin justice minister

[Sep 20 8:00 PM] According to Montenegro’s Supreme Court, the US and South Korea had both met the conditions for applying for Do Kwon’s extradition to face criminal charges.

Court approves Terraform Labs winding down in bankruptcy hearing

[Sep 19 9:55 PM] After collapsing in 2022, facing an SEC lawsuit in 2023, and filing for bankruptcy in 2024, many of Terraform’s legal cases in the US are beginning to wind down.

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…

SEC crypto enforcement hits $4.7B this year, rising 3,000% from 2023

[Sep 10 4:19 AM] The SEC is having a record crypto enforcement year, bolstered by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon.

Terraform Labs’ Fate Hinges on Sept. 19 Bankruptcy Hearing

[Aug 21 9:30 PM] The Chapter 11 bankruptcy reorganization hearing for Terraform Labs Pte. Ltd. and Terraform Labs Limited is set for Sept. 19, 2024, at 10 a.m. EDT. This hearing will be pivotal in shaping the future of the crypto company, which has encountered…

Terraform Labs bankruptcy reorganization hearing set for September

[Aug 21 10:10 AM]  The court’s decision will determine if the company can restructure or must liquidate.

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.

Three Arrows Capital Liquidators Now Sue Terraform Labs for $1.3B: Bloomberg

[Aug 13 7:06 AM] Defunct cryptocurrency hedge fund Three Arrows Capital's (3AC) liquidators have sued Terraform Labs for $1.3 billion, for losses the fund suffered following the 2022 crash, Bloomberg reported on Monday.

Montenegrin court delays Do Kwon’s extradition to South Korea

[Aug 8 4:22 PM] The Terraform Labs co-founder has been in Montenegro since his arrest in 2023, potentially facing extradition to either his native South Korea or the United States.

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…

Terra chain halts operations, ASTRO token falls over 60%

[Jul 31 9:12 AM] The Terra blockchain halt led to the ASTRO token value falling due to a suspected exploit.

Montenegro Prime Minister Listed Among Top Terraform Labs Investors in SEC Filing

[Jun 21 7:22 PM] Milojko Spajic, Prime Minister of Montenegro, was revealed as an early investor in Terraform Labs, co-founded by Kwon Do-hyung (Do Kwon). A filing with the U.S. Securities and Exchange Commission (SEC) lists Spajic as the 16th investor in Terraform…

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…

U.S. Judge Signs Off on $4.5B Terraform-Do Kwon Settlement With SEC

[Jun 13 3:33 PM] The settlement bans Kwon and Terraform Labs from buying and selling crypto asset securities while agreeing to pay $4.5 billion in disgorgement, prejudgement interest, and civil penalties.

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]

Terraform Labs, Do Kwon Reach Preliminary Settlement With SEC

[May 30 10:43 AM] Singapore-based Terraform Labs and its founder Do Kwon have reportedly reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC) after being accused of misleading cryptocurrency investors before the 2022 collapse of…

Montenegro Court Blocks Do Kwon’s Extradition to South Korea

[May 24 9:55 AM] A Montenegro appeals court has reversed an order to extradite Do Kwon, the cryptocurrency entrepreneur behind Terraform Labs, to South Korea. Kwon is wanted for his alleged role in the company’s collapse, which caused a $40 billion loss and…

SEC Seeks $5.3 Billion in Final Judgment Against Do Kwon and Terraform Labs

[Apr 24 11:38 PM] The U.S. Securities and Exchange Commission (SEC) has asked the court to order Terraform Labs and Do Kwon to pay around $5.3 billion as part of the final judgment against the two defendants. This sum includes $4,192,147,847 in disgorgement and…

Do Kwon's Huge Fine Shows the SEC Is Ratcheting Up Penalties Against Crypto Firms

[Apr 24 2:24 PM] Suggested fines the securities watchdog suggested for Terraform Labs and Ripple are out-of-line with what it has collected from crypto firms in the past.

Do Kwon, Terraform Labs Should Get $5.3B Fine, SEC Tells Court

[Apr 23 11:48 AM] The U.S. Securities and Exchange Commission (SEC) has asked a New York court to impose $5.3 billion in fines on Terraform Labs and co-founder Do Kwon for their role in the $40 billion implosion of the Terra ecosystem in 2022.

Terraform Labs and Former CEO Do Kwon Found Liable for Civil Fraud by Jury

[Apr 5 2:33 PM] On Friday, Zack Guzmán, founder of Coinage Media, announced that Terraform Labs’ co-founder Do Kwon and his startup were deemed responsible for fraudulent activities in its legal battle against the U.S. Securities and Exchange Commission…

Jury Begins Deliberations in Civil Fraud Case Against Do Kwon, Terraform Labs

[Apr 5 12:51 PM] NEW YORK – Lawyers for the U.S. Securities and Exchange Commission (SEC) rested their case against Terraform Labs and its co-founder, Do Kwon, on Friday, releasing a New York jury to decide whether Kwon and his company are liable for allegedly…