Do Kwon Archives - Cryptolifedigital

Terra Classic (LUNC) and USTC Surge on News of Do Kwon’s Release

25Mar

By OLAJIDE SAMUELNo Comments

Blockchain

Terra Classic (LUNC) and USTC Surge on News of Do Kwon’s Release

The Terra Classic (LUNC) and USTC ecosystems witnessed a significant price increase following the news of Do Kwon's release from Montenegrin custody. While Do Kwon and Terraform Labs severed ties with Terra Classic, the news sparked a surge in buying activity, leading to notable token gains. Read Also: Unleash Your Creativity & Boost Income with the Resellable Mega Digital Product Bundle! Market Reaction to Do Kwon's Release LUNC Up 20%: CoinMarketCap data shows LUNC experienced a substantial 20% price increase. While profit-taking has moderated the initial spike, LUNC currently trades at $0.000155. Trading Volume Soars: LUNC's trading volume also saw a dramatic 200% increase, settling at a still-impressive 53% gain over the last 24 hours. USTC Climbs: USTC mirrored the ...

Do Kwon to Face Charges in South Korea After Extradition Battle

21Mar

By OLAJIDE SAMUELNo Comments

Blockchain

Do Kwon to Face Charges in South Korea After Extradition Battle

Do Kwon, the founder of TerraForm Labs, is set to be extradited to South Korea to face charges related to the 2022 collapse of the Terra ecosystem. This comes after a Montenegrin appeals court rejected Kwon's attempt to overturn a lower court decision favouring South Korea's extradition request. Read Also: Terra Luna Classic (LUNC) Burns Over 31 Million Tokens in a Single Day Dueling Extradition Requests The United States and South Korea sought Kwon's extradition following his March arrest in Montenegro. Initially, a Montenegrin court sided with the U.S. However, Kwon's lawyers successfully appealed, leading the court to name South Korea as the receiving country. South Korea argued their case was stronger due to the alleged crimes primarily occurring within their jurisdiction. Final ...

Luna Classic Labs Announces Departure from Terraform Labs (TFL) Over Wallet Issues

12Mar

By OLAJIDE SAMUELNo Comments

Blockchain

Luna Classic Labs Announces Departure from Terraform Labs (TFL) Over Wallet Issues

In a significant move within the Luna Classic (LUNC) community, Luna Classic Labs has announced its decision to sever ties with Terraform Labs (TFL) due to ongoing issues with TFL's Terra Station v3 wallet. Mike P., a prominent figure within the community, took to social media to express his frustration and outline the steps Luna Classic Labs will take to distance itself from TFL. Terra Classic To Part Way With Terraform Labs The announcement comes after a prolonged period of dissatisfaction with TFL's handling of the Luna Classic network, particularly evident in the latest release of Terra Station v3. Users reported numerous broken elements when interacting with the Terra Classic network, including governance functions, swaps, and sending transactions. Read Also: Shiba Inu Partner K9...

Terra Founder’s Legal Battle, Twist, Delay And Alleged Bribery: Details

11Mar

By Daniel AbangNo Comments

Terra Classic (LUNC)

Terra Founder’s Legal Battle, Twist, Delay And Alleged Bribery: Details

The Court Saga Aiming to extradite the founder of Terra Classic has been an emblem constituting detrimental tendencies to the Terra Classic ecosystem, the coin on this note has been performing below potential. In a digital space where everyone is careful about which asset to venture into to accumulate profit, it is inherent that investors investigate thoroughly, making sure that an asset is void of any irregularities that could hinder investment flow: this could be the reason why Terra Classic has not been consistent in the conclave of bear trending coin. Recently, an expert in the space FatManTerra who has been a regular in the Terra community made a post concerning the Extradtion Saga of the Do Kwon. Read Also: Terra Classic Community Pushes for Revival with Network Upgrade and ...

Do Kwon Extradition: Will The Tide Ever End

8Mar

By Daniel AbangNo Comments

Terra Classic (LUNC)

Do Kwon Extradition: Will The Tide Ever End

The extradition saga of Do Kwon the co-founder of Terra has been on the news for a while now with ups and downs. A few days ago the Appellate court of Montenegro annulled his extradition, it seems Terra's co-founder will not be resting soon as there is a new move to ensure his removal to South Korea. In the recent news, South Korea has raised the annulment matter and began getting ready for Do Kwon's extradition. The Police Agency has joined with Interpol to move Do Kwon to South Korea. Read Also: Terra Classic Surge By 38% Captures Community Attention: Here Is Why Extradition Saga To South Africa The National Police Agency has taken a step to work with the criminal organization known as Interpol to ensure Do Kwon's Extradition to South Korea. In a statement by South Korea's Nat...

Terraform Labs Founder Do Kwon Fights Extradition, Delays US Trial

12Jan

By OLAJIDE SAMUELNo Comments

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

30Dec

By OLAJIDE SAMUELNo Comments

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

1Nov

By OLAJIDE SAMUELNo Comments

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

21Jul

By OLAJIDE SAMUELNo Comments

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

17Jun

By CryptolifedigitalNo Comments

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...