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The legal battle surrounding Terraform Labs is not without controversy. Terra co-founder Daniel Shin's lawyer has blamed the “unreasonable operation of the Anchor Protocol and external attacks carried out by Do-hyung Kwon” for the Terra ecosystem's collapse.
Regulators say the evidence for Do Kwon violating securities laws is “overwhelming.”
Kwon's TerraForm Labs legal saga escalates: the Securities and Exchange Commission seeks a precedent-setting summary judgment.
Terra blockchain has taken an important step forward with its fee-sharing proposal. The official Terra Luna X account has announced that the proposal to add the FeeShare module to Terra is now open for voting.
In response, defense team has asserted that the SEC has failed to prove that they were offering securities. Kwon was arrested in March in Montenegro with forged documents.
In an electrifying turn of events, the U.S. Securities and Exchange Commission (SEC) has escalated its legal onslaught against Terraform Labs ( TFL) and Do Kwon , with a bold motion for summary judgment.
The U.S. Securities and Exchange Commission (SEC) wants the court to issue a summary judgment in its case against Terraform Labs and its co-founder, Do Kwon. In a court filing dated Nov. 2, the SEC contended that the defendants' violations were abundantly clear and undisputed, obviating the necessity for a full trial.
The U.S. Securities and Exchange Commission (SEC) is demanding a summary judgment on all claims against Do Kwon and Terraform Labs following alleged breaches
The United States Securities and Exchange Commission (SEC) is pursuing a summary judgment in the ongoing legal battle against Do Kwon and Terraform Labs, challenging a recent jury verdict that was perceived as lenient by the regulatory body.
Terraform and Kwon's lawyers also filed a similar motion last week, asking a federal judge to nix SEC allegations.
The Terra ecosystem finds itself in a precarious position, with prices of its native tokens, Terra (LUNA) and Terra Classic (LUNC), experiencing a notable decline of over 4% and 2%, respectively, in the past 24 hours. This downturn has left investors apprehensive about further involvement in Terra's cryptocurrency offerings.
The “evidence” of violations provided by the SEC points to Kwon's involvement in misleading crypto investors by creating and marketing Terra and its in-house Terra (LUNA) tokens as securities.
In the latest development in the U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs (TFL) and Do Kwon, the SEC has asked the court for summary judgment. The SEC argues there is undisputed record evidence that Do Kwon and TFL violated securities and exchange laws, defrauding investors of $45 billion.
The request follows a move by Kwon's defense team to do the same.
The biggest crypto story of the year just happened, sending shockwaves across the industry. After a few hours of deliberations, a jury in New York found Sam Bankman-Fried (SBF) guilty of all seven charges against him. He stood zero chance as the government presented a solid case against him.
Terraform Labs and its co-founder Do Kwon are asking the Southern District of New York court to strike out parts of the complaint filed by the U.S. Securities and Exchange Commission (SEC). The SEC accuses the collapsed stablecoin issuer and its disgraced former CEO of offering and selling crypto assets that qualify as securities.
Binance Exchange has announced its plans to delist margin trading pairs associated with some of the biggest altcoins on the market. The announcement shared earlier showed that pairs linked to Shiba Inu (SHIB), Terra (LUNA) and Cardano (ADA), among others, would be removed for failing to meet its liquidity conditions.
The world's largest crypto exchange Binance on Wednesday said it is removing selected margin trading pairs on Binance Margin. The crypto exchange is taking down some major crypto including Cardano (ADA), Polygon (MATIC), Avalanche (AVAX), Bitcoin Cash (BCH), Chainlink (LINK), Shiba Inu (SHIB), and Dogecoin (DOGE).
Terraform Labs and co-founder Do Kwon are defending against fraud and securities allegations by the U.S. SEC, arguing their cryptocurrencies are not securities, amidst a wider legal battle between crypto firms and regulators following the Terra ecosystem's $40 billion downfall in 2022.
Terraform Labs co-founder, Do Kwon, has recently appealed to a United States district judge to dismiss a lawsuit filed against him and his company by the U.S. Securities and Exchange Commission (SEC). Kwon maintains that the SEC has failed to demonstrate any wrongdoing on their part.
In the latest legal maneuver, Terraform Labs and its former CEO Do Hyeong Kwon (Do Kwon) have submitted a comprehensive Motion for Summary Judgment, seeking an immediate dismissal of the fraud charges levied against them by the U.S. Securities and Exchange Commission (SEC).
The trial of Shin Hyun-Seong, also known as Daniel Shin, a co-founder of Terraform Labs, alongside seven others, commenced in the Seoul Southern District Court in South Korea on October 30. The allegations primarily revolve around defrauding investors and the pivotal question of whether LUNA, Terra's native token, qualifies as a security.
Terraform Labs and Do Kwon challenge SEC's allegations, citing evidence deficit and demanding case dismissal.
Terraform Labs has asked a judge to dismiss charges from the U.S. Securities and Exchange Commission (SEC) of multibillion-dollar securities fraud. The document says that the SEC did not prove that Terraform Labs offered unregistered securities for trading.
