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Terraform Labs, the company behind the Terra blockchain and its native token LUNA, found itself at the center of a major crypto upheaval in May 2022 when the Terra USD (UST) algorithmic stablecoin suffered a devastating collapse.
Do Kwon, co-founder of Terraform Labs, has requested a U.S. district judge to dismiss the securities and fraud lawsuit filed by the federal securities regulator. Kwon's defense argues that the Securities and Exchange Commission (SEC) has failed to provide evidence of any wrongdoing.
Do Kwon, the co-founder now-collapsed Terraform ecosystem maintains he and his firm did not skirt U.S. securities laws.
Terraform Labs and its co-founder, Do Kwon, are actively seeking vindication in their ongoing battle with the U.S. Securities and Exchange Commission (SEC). They have petitioned Judge Jed Rakoff of the U.S. District Court for the Southern District of New York to rule in their favor.
Terraform Labs and its co-founder Do Kwon filed a motion for summary judgment with a federal court, asking the judge to dismiss the SEC's securities fraud lawsuit against it.
Lawyers representing Terraform Labs and its co-founder, Do Kwon, have recently approached a New York judge with a bold request. They're seeking a summary judgment, aiming to bring the ongoing legal battle with the Securities and Exchange Commission (SEC) to a swift conclusion.
Lawyers representing Terraform Labs and its co-founder asked a judge to decide a case brought by the SEC in an effort to avoid a full trial.
Terraform Labs and its co-founder, Do Kwon, have approached a federal court to stand by their defense against the U.S. Securities and Exchange Commission's (SEC) allegations of fraud. They argue that the SEC has failed to provide solid evidence that the crypto entity dealt with securities.
Daniel Shin, co-founder of TerraformLabs, appeared in court on Oct. 30 and denied all charges against him in connection with the 2022 collapse of the Terra Ecosystem. He instead laid blame on his associate Do Kwon's “unreasonable” management practices of Anchor Protocol.
Terraform Labs and its co-founder, Do Kwon, are asking a federal judge to side with them in the U.S. Securities and Exchange Commission (SEC) fraud case, arguing that the regulator hasn't managed to prove the crypto company was offering securities.
LUNA, the native token of the Terra 2.0 blockchain, was among the many gainers in the past week positively affected by Bitcoin's impressive rally toward the $35,000 mark. According to data from CoinMarketCap, LUNA is up by 13.96% in the last seven days, providing some relief for investors who have had to endure the token's bearish form in the previous weeks leading to this price rise.
Captain Faibik predicts an 80-100% price surge for LUNA after a trendline breakthrough. LUNA broke $0.48 resistance, but $0.45 support is crucial for short-term direction. The coin's current price: $0.469; potential bullish momentum expected.
Despite the altcoin season index being relatively low due to increased activity around the $35,000 Bitcoin mark, altcoins have held their own alongside Bitcoin. The index currently sits at around 16, which indicates that investors are favoring Bitcoin at the moment.
November's top altcoins including Chainlink, Pepe Coin, and Terra Luna are poised for potential rallies next week.
In a nutshell, Proposal 4790 is a forward-thinking plan crafted by TFL to bolster the Terra ecosystem. TFL, armed with its abundant resources and expertise, is committed to taking Terra to the next level.
Citadel said the claims by Terraform was filed to "deflect attention" from its alleged charges.
MINA Protocol (MINA), considered the world's lightest blockchain network, is driving a new wave of altcoins thanks to its remarkable 88% rally in the last 24 hours.
Jump Trading's significant profits of $1.28 billion during the tumultuous period shed light on the firm's role in stabilizing terraUSD's value.
The defense for Terraform Labs and Do Kwon have submitted new evidence about Jump Trading's (Jump) role in the collapse of the TerraUSD (UST) stablecoin. The letter, submitted to the Supreme Court of Singapore, offers insight into UST trading on KuCoin during its May 2021 and May 2022 depeg.
In every court hearing, a new layer is presented. Right now, the Terra land is full of chaos as the firm copes with misleading chat history, forged document claims, and whatnot! The latest is Jump Trading.
Kwon has been accused of misleading investors about the terraUSD stablecoin, whose 2022 collapse ricocheted around the crypto world.
The specifics regarding the documents subject to the subpoena were unclear, but it was noted that Genesis had failed to furnish the required information by the deadline of October 9th.
In the past week, the Terra (LUNA) market has been grappling with bearish trends, with LUNA's price fluctuating between $0.396235 and $0.4326. The gradual decline in LUNA's price has raised concerns about increased selling pressure among investors.
On October 10, Terraform Labs took legal action by filing a motion in the U.S. District Court for the Southern District of Florida. They're seeking permission to investigate Citadel Securities' trading records.
