Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy

September 19, 2024 Bitcoin.com

Bankruptcy

Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors facing significant losses after the Terra ecosystem collapsed. Court Approves Terraform Labs Wind-Down Terraform Labs has been granted […]

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Terraform Labs’ Fate Hinges on Sept. 19 Bankruptcy Hearing

August 22, 2024 Bitcoin.com

Bankruptcy

The Chapter 11 bankruptcy reorganization hearing for Terraform Labs Pte. Ltd. and Terraform Labs Limited is set for Sept. 19, 2024, at 10 a.m. EDT. This hearing will be pivotal in shaping the future of the crypto company, which has encountered substantial hurdles since the Terra ecosystem’s collapse in 2022. Terraform Labs Faces Pivotal Bankruptcy […]

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Three Arrows Capital Liquidators Want $1,300,000,000 From TerraForm Labs Over 2022 LUNA Collapse: Report

August 14, 2024 The Daily Hodl

Three Arrows Capital Liquidators Want ,300,000,000 From TerraForm Labs Over 2022 LUNA Collapse: Report

Daily Hodl

Liquidators of the failed crypto hedge fund Three Arrows Capital (3AC) are reportedly seeking $1.3 billion from Terraform Labs, the bankrupt stablecoin firm co-founded by Do Kwon. According to a new report by Bloomberg, the liquidators filed a claim in the U.S Bankruptcy Court for the District of Delaware seeking funds 3AC allegedly lost as […]

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Montenegrin Supreme Court Pauses Do Kwon Extradition to South Korea: Report

August 8, 2024 The Daily Hodl

Daily Hodl

The Supreme Court of the southeastern European nation of Montenegro is again postponing Terra (LUNA) co-founder Do Kwon’s extradition to South Korea. According to a report from Montenegrin news outlet Vijesti, Montenegro’s Supreme Court has halted the extradition due to a request for “protection of legality” brought forth by Kwon’s camp. According to a statement […]

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Montenegrin Court Upholds Extradition of Terraform Labs Co-Founder Do Kwon to South Korea

August 2, 2024 Bitcoin.com

bitcoin.com

In a significant legal development, a Montenegrin appeals court has upheld the decision to extradite Do Kwon, co-founder of Terraform Labs, to South Korea. Kwon, who has been in custody in Montenegro since March 2023 for attempting to travel with a fake passport, faces criminal charges in South Korea related to the $40 billion collapse […]

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US judge approves Terraform’s $4.5B settlement with SEC

June 13, 2024 Coin Telegraph

US judge approves Terraform’s .5B settlement with SEC

Coin Telegraph

A New York district court judge has rubber-stamped Terraform Labs and Do Kwon’s nearly $4.5 billion settlement with the SEC.

A United States district court judge has signed off on the $4.5 billion settlement between Terraform Labs, its founder Do Kwon and the Securities and Exchange Commission.

New York District Court Judge Jed Rakoff approved the deal on June 13, which will see Terra and Kwon pay $4.47 billion in fines and penalties and be essentially banned from the crypto industry.

In all, Terraform will pay disgorgement fines of roughly $3.6 billion, a civil penalty of $420 million and prejudgement interest of nearly $467 million.

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SEC Settles With Former Stablecoin Juggernaut Terraform Labs for $4,470,000,000: Report

June 13, 2024 The Daily Hodl

SEC Settles With Former Stablecoin Juggernaut Terraform Labs for ,470,000,000: Report

Daily Hodl

A new report says that the U.S. Securities and Exchange Commission (SEC) has reached a multi-billion dollar settlement with the crypto firm that played a major role in kicking off the FTX implosion. According to Reuters, the SEC has reached a $4.47 billion settlement with Terraform Labs after the stablecoin firm was found liable for […]

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Montenegrin Supreme Court Postpones Terra Founder Do Kwon’s South Korean Extradition

March 22, 2024 The Daily Hodl

Costa Rica

The Supreme Court of Montenegro is postponing the extradition of disgraced Terra (LUNA) founder Do Kwon to South Korea. According to a new memo, the Supreme Court of Montenegro is overturning a previous ruling that greenlit the extradition process to send Kwon back to his homeland of South Korea where he is wanted for alleged […]

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Do Kwon Will Be Extradited to United States Following Montenegro Court Ruling: Report

February 21, 2024 The Daily Hodl

Daily Hodl

Do Kwon, former crypto billionaire and founder of the Terra (LUNA) ecosystem, will be sent to the United States to face fraud charges. In 2022, Terra’s UST stablecoin and its associated altcoin LUNA went to virtually zero after its pegging mechanism didn’t work as intended, wiping out roughly $40 billion in value within days. Kwon […]

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Montenegro’s Appellate Court Revokes Terra (LUNA) Founder Do Kwon’s Extradition to the US, Orders a Retrial

February 8, 2024 The Daily Hodl

crime

An appellate court in Montenegro is revoking the extradition of disgraced Terra (LUNA) founder Do Kwon to the US and has ordered a retrial. According to a new press release, an appeals court yesterday overturned the decision of the high court made late last year, which ruled that Kwon is to be extradited to both […]

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Luna