Regulators in the United States are seeking $5.3 billion in fines from Terraform Labs and its co-founder, Do Kwon, following a verdict in its civil case. According to an April 19 filing with the U.S. District Court for the Southern District of New York, the Securities and Exchange Commission (SEC) has asked Kwon and Terraform Labs to pay...
Lawyers for Terraform Labs co-founder Do Kwon appealed the Supreme Court of Montenegro’s decision to extradite the entrepreneur. According to The Korea Times, the entrepreneur’s defense filed another appeal after Montenegrin authorities decided to extradite Do Kwon in mid-April. The media claim that lawyers want to avoid handing Do Kwon over to U.S. authorities. Kwon’s lawyers prefer to...
Last week, a jury in New York declared Terraform Labs and its founder Do Kwon guilty of fraud charges. Meme coins had an average return of 1,312% in the first quarter (Q1), and Ripple wants to launch a USD-backed stablecoin. Here’s our weekly recap. Do Kwon guilty The Do Kwon saga took a new turn this week...
Last week, Terraform Labs founder Do Kwon grabbed headlines while spot Bitcoin ETFs witnessed a bearish turn. Meanwhile, Ethereum continues to come under regulatory scrutiny. Do Kwon released from prison A court in Montenegro denied Do Kwon’s appeal against his extradition to South Korea. However, Montenegro’s office of the prosecutor voiced against the development, asserting that Do Kwon’s extradition to...
