TerraUSD – DIGIT INFO

Jump Crypto subsidiary Tai Mo Shan settles with SEC for $123 million

DIGIT — Sat, 21 Dec 2024 21:12:08 +0000

The ensuing fallout from the Terra ecosystem collapse eventually caused Terraform Labs to shut down following a settlement with the SEC.

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Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy

DIGIT — Thu, 19 Sep 2024 21:10:34 +0000

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 facing significant losses after the Terra ecosystem collapsed. Court Approves Terraform Labs Wind-Down Terraform Labs has been granted […]

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3AC liquidators file $1.3B claim against Terraform Labs

DIGIT — Tue, 13 Aug 2024 10:22:45 +0000

3AC liquidators alleged that Terraform Labs misled the Singaporean hedge fund about the stability of tokens in the Terra ecosystem.

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Terraform Labs, Do Kwon Reach Preliminary Settlement With SEC

DIGIT — Thu, 30 May 2024 16:43:20 +0000

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 terrausd (UST), the project’s now-defunct algorithmic stablecoin. According to a court filing, the settlement terms are currently undisclosed and the alleged […]

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Do Kwon to Be Released on €400,000 Bail, Pleads Not Guilty in Montenegro

DIGIT — Fri, 12 May 2023 21:15:00 +0000

Terraform founder Do Kwon will be released from jail but placed under police surveillance at a local residence, a Montenegrin court has decided. The trial against him and another Korean, on charges of travelling on false documents, opened on Thursday with both pleading not guilty. Court Grants Bail Request for Do Kwon, Puts Him Under […]

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SEC Deems DASH, ALGO, and OMG ‘Unregistered Securities’ in Bittrex Lawsuit

DIGIT — Tue, 18 Apr 2023 19:04:58 +0000

According to the recent complaint by the U.S. Securities and Exchange Commission (SEC) against Bittrex, the securities regulator insists that a few crypto asset tokens were offered and sold as investment contracts and are securities. The news follows the SEC’s designation of several crypto assets as securities, including the case against Terraform Labs, which insists […]

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Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils

DIGIT — Sun, 16 Apr 2023 12:00:08 +0000

Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that co-founder Do Kwon was aware of the imminent collapse. Terraform Labs Transferred Large Amounts of Money to South Korean […]

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Seoul Takes Control Over $160 Million in Assets of Former Terraform Employees, Founder

DIGIT — Wed, 05 Apr 2023 00:30:10 +0000

Authorities in South Korea have reportedly seized assets worth billions of won belonging to former representatives of Terraform Labs. The measure should prevent suspects in the case with the failed blockchain firm from selling property that may have been obtained with criminal proceeds. South Korean Law Enforcement Moves to Seize Terraform-Linked Real Estate, Report Prosecutors […]

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South Korean Court Denies Arrest Warrant for Terraform Co-Founder Daniel Shin

DIGIT — Sat, 01 Apr 2023 06:30:28 +0000

A court in South Korea has again denied the arrest warrant for Daniel Shin, a co-founder of Terraform Labs who is being investigated for fraud. Shin has been accused of illegally profiting from the sale of over $100 million worth of the luna cryptocurrency before it collapsed. Seoul Court Leaves Terraform Co-Founder at Large Citing […]

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Do Kwon to Stand Trial in Montenegro, May Serve Time Before Extradition

DIGIT — Thu, 30 Mar 2023 13:50:04 +0000

Before extradition, Terraform Labs founder Do Kwon will first have to stand trial in Montenegro for traveling on a fake passport, according to his lawyer in the country. The fugitive crypto entrepreneur may also have to serve time in prison before he is extradited from the Balkan nation, its justice minister indicated. Alleged South Korean […]

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