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Tag: Do Kwon

Terraform Labs Founder Do Kwon Fights Extradition, Delays US Trial
Blockchain

Terraform Labs Founder Do Kwon Fights Extradition, Delays US Trial

Kwon's legal team cites uncertainties in Montenegro proceedings, requesting a trial postponement. Do Kwon, the embattled founder of Terraform Labs, is facing another hurdle in his legal saga as his extradition from Montenegro remains entangled in legal technicalities. This has prompted his lawyers to request a postponement of his upcoming US trial, initially scheduled for late January. Read Also: Terra Classic (LUNC) Eyes Bullish Breakout as Key Indicators Blink Green: Analyst Derek Sounds Alarm https://twitter.com/innercitypress/status/1745659357897867369 Uncertain Extradition Timeline Leads to Trial Delay Request Legal documents filed on January 11th reveal delays in Kwon's extradition, with his team estimating his arrival in the US could be pushed back to February or Marc...
Terraform Labs Faces SEC Setback as Judge Rules Luna and MIR Tokens as Securities
Blockchain

Terraform Labs Faces SEC Setback as Judge Rules Luna and MIR Tokens as Securities

In a significant development in the ongoing legal battle between Terraform Labs and the U.S. Securities and Exchange Commission (SEC), a pivotal ruling was delivered on December 28 by United States Federal Judge Jed Rakoff. The judge declared that tokens associated with Terraform Labs, including Luna and MIR, are to be classified as securities. This ruling marks a crucial turning point in the lawsuit initiated in February and is expected to have far-reaching implications for Terraform Labs and the involved cryptocurrencies. Read Also: Nigeria's Policy Shift Unleashes Potential for XRP Surge as Banks Reconnect with Crypto Exchanges https://twitter.com/LogllNews/status/1740608042041798966 Key Points from the Latest Ruling Securities Violation: Judge Jed Rakoff's summary judgment ...
Terraform Labs Founder Do Kwon Released from Detention; Terra Luna Classic (LUNC) Price Surge Anticipated
Terra Classic (LUNC)

Terraform Labs Founder Do Kwon Released from Detention; Terra Luna Classic (LUNC) Price Surge Anticipated

In a significant turn of events, Do Kwon, the founder of Terraform Labs, has been released from detention. This development has sparked anticipation within the cryptocurrency community that his return could contribute to a potential spike in the Terra Luna Classic (LUNC) token's price. https://twitter.com/TotalLunaMoon/status/1719335328371118404 Do Kwon's Release from Detention Do Kwon, a prominent figure in the blockchain and cryptocurrency space, had been in detention for an undisclosed period due to legal matters. While details regarding his arrest and release remain limited, his return to the cryptocurrency scene is generating considerable interest. Read Also: XRP Surges Over 25% in Two Weeks as Whales Return to the Fold Impact on Terra Luna Classic (LUNC) The Terra Luna Clas...
Kwon’s Legal Team Cites Ripple’s Victory in Bid to Dismiss SEC Lawsuit against Terraform Labs
Blockchain

Kwon’s Legal Team Cites Ripple’s Victory in Bid to Dismiss SEC Lawsuit against Terraform Labs

In a significant development,  Do Hyeong Kwon's legal team has turned to the recent victory secured by Ripple and XRP against the U.S. Securities and Exchange Commission (SEC) to bolster their bid to dismiss the regulatory watchdog's lawsuit against their client and Terraform Labs. According to a supplementary document filed on July 18, Kwon's lawyers highlighted the decision made by Judge Analisa Torres in the SEC v. Ripple Labs case, which ruled that the digital asset XRP was not a security. The defendants' legal team asserts that the SEC's claims against the tokens UST, LUNA, wLUNA, and MIR lack merit, drawing parallels to the Ripple ruling. The Ripple decision stated that certain sales of XRP did not meet the criteria to be classified as investment contracts under the Howey test. ...
Dentons Files Additional Documents in Support of Terraform Labs and Do Kwon’s Motion to Dismiss SEC Lawsuit
Blockchain

Dentons Files Additional Documents in Support of Terraform Labs and Do Kwon’s Motion to Dismiss SEC Lawsuit

Top law firm Dentons has filed supplementary documents in defence of Terraform Labs and its co-founder, Do Kwon, in their ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). The court hearing, which took place on Thursday, focused on whether the digital assets created by Terraform Labs should be classified as securities under an "investment contract." Dentons Lawyers Claim UST Is Not A Security Dentons lawyers, representing Terraform Labs and Do Kwon, strongly assert that the algorithmic stablecoin UST (now USTC) does not qualify as a security, as its primary purpose is practical rather than an investment contract. The additional documents submitted by the legal team support their motion to dismiss the SEC lawsuit and include pertinent evidence from various so...
Do Kwon To Throw A Conference Soon To Debunk The Falsehood Against Him, He Invites Cops Around The World To Attend
Blockchain

Do Kwon To Throw A Conference Soon To Debunk The Falsehood Against Him, He Invites Cops Around The World To Attend

A recent tweet revealed that the Terraform Labs, Do Kwon, would be holding a conference to refute the stories making the rounds, looking forward to inviting the police. Do Kwon To Debunk Falsehood Via Conference A tweet was shared recently featuring Do Kwon responding to the  latest reports making the rounds online, saying he would be holding a conference to debunk the “falsehoods.” https://twitter.com/stablekwon/status/1588298460595249153 CEO Kwon welcome with open hands those sharing the stories, saying; “Show up if you dare,”. According to the report from the Korean Broadcasting System (KBS) which was made recently, alleging that the South Korean prosecutors had got proof that Do Kwon manipulated the price of Terra Luna Classic (LUNC) and is hiding in Europe also noted th...
Do Kwon Now Set To Talk On Why He Refuses To Return To South Korea As Laura Interviews Him On Friday
Blockchain

Do Kwon Now Set To Talk On Why He Refuses To Return To South Korea As Laura Interviews Him On Friday

In a recent tweet shared by Laura Shin, a crypto-journalist said that her interview with Terra founder Do Kwon would happen on Friday morning. Do Kwon Is Set To Talk On Friday Morning In this regard she asked for questions from various users across the globe probably she may tender it before the Terra founder and the discussion might start from there. https://twitter.com/laurashin/status/1580350323863867393 It was reported initially that the Terraform Labs CEO, Do Kwon agreed to meet with Shin on her podcast to disclose why he has failed to return to South Korea. Read Also: XRP Holders Increases To Over 75,000 As A Sign of Support In The Ongoing Lawsuit Against SEC Do Kwon Refuses To Go To South Korea It is worth noting that the last journalist that interviewed Do ...
Do Kwon Said He Will Continue Building LUNA To Ensure The Victims Are Fully Compensated, LUNA Rose To 59th From 205th Position
Cryptocurrency

Do Kwon Said He Will Continue Building LUNA To Ensure The Victims Are Fully Compensated, LUNA Rose To 59th From 205th Position

Do Kwon, the founder of Terraform Labs has given the assuring statement to continue developing the Terra project until the victims of the May Terra collapse are compensated for their losses. Do Kwon unveils his plan in a diagrammatic manner as he tweeted a hammer with a spanner emoji? https://twitter.com/stablekwon/status/1568258669049167872 LUNA Spikes Over 300% As It Rose To Occupy 59th position From 205th. It is worth noting that the CEO of Terraform Labs made that tweet following the time LUNA price spike over 300% to $7, the 24 hours high. Read Also: Cardano Leads Grayscale Smart Contract Platform Ex-Ethereum (GSCPxE) Fund. Also, LUNA is reviving from its hit of the May collapse as it moved to the 59th position of the largest market capitalization from its previo...
Lawsuit Against Terraform Labs Increases As Plaintiff Albright Charges On Behalf May Terra Collapse’s Victims
Blockchain

Lawsuit Against Terraform Labs Increases As Plaintiff Albright Charges On Behalf May Terra Collapse’s Victims

The lawsuit against Terraform Labs has not declined but rather is on the increase daily. According to a report by the legal news outlet Law360, Terraform and two of its executives which include the Terraform Labs CEO, Do Kwon, were accused of violating the Racketeer Influence and Corrupt Organization Act. The charge against them was as a result of the UST inflation and promotion of false information in the recent Terra collapse, which claimed multi-million dollars, almost $80 million. Read Also: A Mysterious Wallet Initiates A Burn Of Over 309 Million In Two Days As stated by the Law360:“Defendants touted the stability of the coins and guaranteed 20% annual returns on coins deposited in Terraform Labs’ high-yield savings application on the Terra blockchain — the Anchor Protocol,”...
Do Kwon Says, Terra Was Created To Be an Industry’s Standard, Built As A Stablecoin And Not To Scam People
Blockchain

Do Kwon Says, Terra Was Created To Be an Industry’s Standard, Built As A Stablecoin And Not To Scam People

The CEO and founder of Terraform Labs, Do Kwon has now admitted to his shortcomings in a recent sole interview.  Do Kwon’s personality was seriously put under pressure owing to the May Terra collapse and the algorithm stablecoin TerraUSD (UST). According to Kwon’s video interview with Coinage Media, hosted by Zach Guzman dubbed “inside Crypto’s Largest Collapse”. The short video interview was aired to prepare the people that have longed to see Do Kwon talking about the Terra collapse. https://twitter.com/zGuz/status/1558851374619803649 Do Kwon said that the Terra was not created to scam people but to be a stablecoin, although it failed to be stabled.  “…It was supposed to be a stablecoin but didn’t remain stable. It was started to become industry’s standard, I b...