Do Kwon Archives - Page 2 of 3

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...

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

4Nov

By OLAJIDE SAMUELNo Comments

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

13Oct

By CryptolifedigitalNo Comments

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

10Sep

By CryptolifedigitalNo Comments

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

27Aug

By CryptolifedigitalNo Comments

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

15Aug

By Cryptolifedigital2 Comments

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...

Do Kwon Suggests Decentralized Money For The Crypto Space And The Crypto Community Attacked Him Instantly

9Aug

By Cryptolifedigital5 Comments

Blockchain

Do Kwon Suggests Decentralized Money For The Crypto Space And The Crypto Community Attacked Him Instantly

Unfortunately, the Terraform labs CE, Do Kwon’s belief in the crypto did not sound well into the earing of the Twitter community. Do Kwon stated: “Decentralized networks need decentralized money – obvious today more than ever,” Following his tweet, the crypto community did not waste time responding to his unpalatable belief, he turned off the comment session, but the member made use of the quote tweet to express their feelings. https://twitter.com/Mounia_NL/status/1556860848676769793 The whole scenario burned down to Do Kwon’s attempt at decentralized money which went bad for many and they were convinced that he has defrauded them. The UST which ought to fill the decentralized money gap being supported by Bitcoin reserves caused LUNA and UST holdings held by investors to bec...

Do Kwon Answers Users On LUNC Network Upgrade.

9Jul

By CryptolifedigitalNo Comments

Blockchain

Do Kwon Answers Users On LUNC Network Upgrade.

Following the curiosity of one Twitter handler, THORchain.BULL who wanted to why a governance vote earlier passed to have the LUNC delegation re-enabled is never executed and more also the users that the LUNC governance never resumed implies that the Terraform Labs has control over it, Do Kwon reply as usual that the Terraform Labs has no control over LUNC and that whoever surfaced with the offer to start delegation should coordinate validators to mechanize the pathway to upgrade the network. Read Also: Shiba Inu is Now Accepted As Payment In Dripto, A Digital Marketplace https://twitter.com/stablekwon/status/1545600281534050305 According to the THORchain.BULL, he didn’t mean any negative but he was out of curiosity to bring it to the attention of other users. he added that if ...

Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours

27Jun

By Cryptolifedigital1 Comment

Cryptocurrency

Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours

Terra’s collapsed stablecoin USTC prices experience a sudden spike of almost 400% over the last 24 hours. And this resulted in the token entering the top 100 cryptocurrencies. Amid the volatility in the crypto firm related to Terra’s newly released token LUNA 2.0, TerraClassicUSD has striven to spike more than 400% over the past 7 days. It is trading at an average price of around $0.042, at the press time. USTC’s 24-hour trading volume has increased by 413% to stand at $83 million. Read Also: Shiba Inu Spiked 50% In Seven Days, Its Addresses Approach 1.2 Million USTC’s total market Cap added almost $200 million in the last 24 hours as gotten from the data from the Coin MarketCap. Presently, it calms around $402 million. The meant-to-be stablecoin has now grabbed the 84th spot amo...

Terraform Labs CEO, Do Kwon said he has “great confidence” in the company’s ability to “build back even stronger” than before.

23Jun

By Cryptolifedigital4 Comments

Blockchain

Terraform Labs CEO, Do Kwon said he has “great confidence” in the company’s ability to “build back even stronger” than before.

According to the Wall Street Journal, Terraform Labs CEO, Do Kwon said in an interview published on Wednesday, that he has “great confidence” in the company’s ability to “build back even stronger" than before. Kwon displayed a level of confidence in rebuilding the Terra blockchain following the collapse of its predecessor in May. The proposal to relaunch the Terra blockchain and fabricate a new token was initiated in May which was succeeded by majority votes among the holders of Terraform Labs’ Luna governance token. Read Also: Tether To Release A Stablecoin Pegged To The British Pound In Early July. The votes than were in favor of the creation of a new blockchain called Terra while by the side, the old version was renamed Terra Classic. “Many builders are in the pro...