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Montenegro's Prime Minister Milojko Spajić was an early investor in the failed Terra Luna coin and may have lost millions to the ecosystem's implosion in 2022, according to recent court documents filed by the US Securities and Exchange Commission (SEC). Before becoming prime minister, Spajić was a crypto entrepreneur.
A court document from April has revealed that Montenegrin Prime Minister Milojko Spajic was an early investor in the Terra (LUNA).
Recently disclosed documents from the U.S. Securities and Exchange Commission (SEC) reveal that Montenegrin Prime Minister Milojko Spajić was an early investor in Terraform Labs. The court documents show that on April 23, 2018, Spajić invested $75,000 to purchase 750,000 Luna tokens.
Montenegrin Prime Minister Milojko Spajic invested $75k in Terraform Labs' Luna tokens in 2018.
Spajic was among the early investors who invested in the firm just days before its formation. Terraform Labs LTD was registered in Singapore on April 23, 2018.
Terraform Labs' closure and $4.47 billion settlement signal heightened scrutiny and consequences for crypto fraud.
Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
While Hyun-Sung has denied helping Kwon deceive investors, Kwon is still awaiting trial for the collapse of the blockchain, which instigated the 2022 crypto market winter.
South Korean prosecutors have unearthed new evidence suggesting that Terraform Labs co-founder Do Kwon and former Chai CEO Shin Hyun-Sung conspired to deceive investors through fake transactions. This discovery adds another layer to the already complex case surrounding the collapse of the Terra and Luna tokens, implicating high-profile figures in the cryptocurrency space.
Ripple Labs, the company behind the XRP cryptocurrency, is embroiled in a legal tussle with the U.S. Securities and Exchange Commission (SEC) over a proposed $2 billion penalty. This dispute centers on the SEC's allegations that XRP constitutes an unregistered security, a claim that has shadowed Ripple since late 2020 when the SEC initiated legal proceedings against the company and its executives.
Ripple is pointing to the recent Terraform Labs settlement in a bid to reduce their own penalty from the U.S. Securities and Exchange Commission (SEC). Earlier this week, the SEC reached a $4.
The US Securities and Exchange Commission (SEC) has countered Ripple's attempt to use the Terraform Labs settlement to argue against a proposed $2 billion fine.
Ripple Labs and the SEC are at odds over a settlement amount in the ongoing lawsuit concerning XRP sales.
Terraform Labs and Do Kwon asked to pay $4.5 billion after the guilty verdict on crypto fraud.
The ongoing legal brawl between Ripple Labs and the United States Securities and Exchange Commission (SEC) took a new twist, with the regulator filing its response to the blockchain payments firm. Recall that Ripple had previously accused the SEC of demanding unreasonable settlement charges, which was evident in the case of Terraform Labs.
In its ongoing lawsuit against the regulator, Ripple has referenced a recent settlement between the SEC and Terraform Labs.
A United States district court judge has signed off on a $4.5 billion settlement between Terraform Labs, Do Kwon and the United States Securities and Exchange Commission.
SEC reaches a $4.5 billion settlement with Terraform Labs and Do Hyeong Kwon.
Ripple's lawyers have asked a court to consider an "appropriate" civil penalty in its ongoing case against the SEC, citing the recent settlement between the regulator and Terraform Labs as evidence that the SEC's requested $2 billion penalty is unreasonable. The post Ripple rejects SEC's $2 billion fine for ‘unreasonableness' citing Terraform settlement appeared first on Crypto Briefing.
Terraform Labs, the infamous company behind the Terra stablecoin collapse, has agreed to settle with the US Securities and Exchange Commission for $4.5 billion.
The blockchain firm's case with the SEC has been ongoing since December 2020, when the regulator alleged Ripple used XRP as an unregistered security to raise funds.
Ripple Labs Inc. seeks a reduced fine from the SEC, arguing for a penalty similar to Terraform Labs' settlement.
Ripple has unveiled a strategic legal maneuver in its ongoing battle against the U.S. Securities and Exchange Commission (SEC). By leveraging a recent landmark settlement involving TerraForm Labs (TFL), Ripple is challenging the SEC's punitive stance, sparking discussions among industry insiders and legal pundits alike.
The Terra network and its leader, Do Kwon, rose to the highest tier of the crypto world, only to fall apart within a couple of days in May of 2022 and wipe out the life savings of desperate everyday investors.
