SEC Vs. Do Kwon: Trial Will Commence In Absence Of Terra Founder

The legal saga surrounding Terraform Labs co-founder Do Kwon is taking another pivotal turn as the US Securities and Exchange Commission (SEC) prepares to commence its civil trial against him on March 25, despite his likely absence due to extradition delays from Montenegro.

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In a recent development reported by the Wall Street Journal on February 22, 2024, the court in Montenegro has ruled that the infamous cryptocurrency entrepreneur Do Kwon should be extradited to the U.S. to face trial on fraud charges, rejecting his native South Korea as the extradition location.

Terra Classic's price is currently supported at $0.0001075, with hopes of breaking above $0.00012 to accelerate its recovery towards $0.00028. Additionally, the Terra Luna Classic community is preparing to update the on-chain staking guidelines for centralized exchanges (CEXs).

Dips have been proving to be profitable for many cryptocurrencies following the major correction in February after the approval of the BTC ETF. Prior to the widespread declines, which saw Bitcoin price nosedive below $39,000 after creating a new yearly top at $49,000 followed Terra Classic's commendable rally to $0.00028.

Do Kwon, founder and ex-CEO of the now-defunct Terraform Labs, has notched a minor victory after a court in Montenegro cancelled his extradition to the United States for the second time.

Disgraced Terraform Labs founder Do Kwon is reportedly asking a judge to delay the U.S. Securities and Exchange Commission's (SEC) trial to March so he can make an appearance. In a new letter addressed to the court uncovered by Inner City Press, Kwon's lawyers ask District Judge Jed S.

Terraform Labs co-founder Do Kwon has requested that the judge in his fraud case delay the trial date, currently set for Jan. 29, 2024, because Kwon is still tied up in extradition proceedings in Montenegro. Terra's Do Kwon Requests Trial Postponement Due to Extradition Issues In a letter to U.S.

LUNC News: Terra Luna Classic community has now rejected three USTC burn proposals, as a proposal to burn all USTC in the community pool failed to convince the community that it's a prudent course of action. The move comes amid the renewed narrative to burn 800 million USTC from Risk Harbor Multisig Wallet, which sits

A US judge has ruled that collapsed crypto company Terraform Labs and its founder Do Kwon offered and sold two digital assets as unregistered securities. The U.S. Securities and Exchange Commission (SEC) and Terraform Labs both requested summary judgment in an ongoing fraud case.

Jump Trading will join crypto firm Terraform Labs (Terraform) and the US Securities and Exchange Commission (SEC) in a civil trial next year. A judge ruled that Terraform engaged in sales of unregistered securities, but he may need fresh insight on how Jump Trading acted as a market maker for the company.

After Do Kwon abandoned LUNC and USTC (formerly UST) and established a new Terra (LUNA) chain, the Terra Classic community, comprised of dedicated validators and developers, made numerous efforts to revive LUNC and repeg USTC. This year, Terra Classic ecosystem tokens LUNC and USTC backed by the dedicated community have outperformed Terra (LUNA) substantially.