collapse

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

May 12, 2023 Bitcoin.com

Bail

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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Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt Default

May 1, 2023 Bitcoin.com

Banking Industry

Amid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on the national debt.” Biden Expresses Confidence in American Banking System Despite […]

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FTX Boss Ryan Salame’s Maryland Home Searched by FBI in Unexplained Raid

April 28, 2023 Bitcoin.com

bitcoin.com

According to unnamed sources, the home of Ryan Salame, the former co-chief executive of FTX Digital Markets, was searched by the U.S. Federal Bureau of Investigation (FBI) on Thursday. The grounds for the raid remain unknown, and neither Salame nor his legal representative have offered any statement concerning the situation. FBI Conducts Mysterious Search on […]

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

April 16, 2023 Bitcoin.com

bitcoin.com

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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US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’

April 9, 2023 Bitcoin.com

aftermath

The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a Tesla executive and owner of […]

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Market Analyst Heralds the Collapse of ‘Everything,’ Calls for Hedging in Gold and Silver Before There Isn’t Any Left

April 5, 2023 Bitcoin.com

Banking

Egon von Greyerz, market analyst and founder of Matterhorn Asset Management, is predicting the collapse of the central bank system in the next few years due to an increasing issuance of currency and debt. Von Greyerz states that in the face of an economy with no buyers, the only hedge will be tangible assets, including […]

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

March 30, 2023 Bitcoin.com

Arrest

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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Do Kwon’s Extradition Likely to Take Time, Montenegrin Prosecutor Says

March 28, 2023 Bitcoin.com

Arrest

A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed over to other countries within the […]

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Shares of Deutsche Bank, Other Euro Lenders Tumble

March 25, 2023 Bitcoin.com

bank

Deutsche Bank shares plunged on Friday, along with the stocks of other European banks, amid investor concerns over the stability of the global banking sector. The drop comes in the aftermath of the recent emergency rescue of Credit Suisse and follows losses in U.S. banks on Thursday. Deutsche Bank Credit Default Swaps Jump to 4-Year […]

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Treasury Secretary Yellen Holds Unscheduled Meeting With Top Financial Regulators Amid Turmoil in Banking Sector

March 25, 2023 Bitcoin.com

Banking

U.S. Treasury secretary Janet Yellen initiated an unscheduled Financial Stability Oversight Council (FSOC) meeting with the country’s top financial regulators on Friday amid issues plaguing the U.S. banking sector. Banking stocks and all four U.S. benchmark indexes fell again on Friday as the government’s efforts last week failed to quell the country’s financial calamity. Janet […]

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