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Do Kwon, the co-founder and CEO of Terraform Labs has reportedly been arrested by police in Montenegro. Kwon was stopped at Podgorica airport in possession of “falsified documents,” according to a tweet from Filip Adfzic, the country's Minister of the Interior.
It has now been nearly ten months since the crypto project Terra Luna experienced a catastrophic collapse in May last year. Later, FTX collapsed and recently, the crypto-friendly Silicon Valley Bank (SVB) collapsed.
The US Department of Justice is supposedly the latest agency to investigate the Terra crash.
The Federal Bureau of Investigation is the latest agency to commence an investigative probe against Terraform Labs and its disgraced founder and CEO, Do Kwon. FBI Probes Do Kwon After the Singapore police, South Korean law enforcement, and the SEC launched their own enforcement actions against the disgraced founder of Terraform Labs; the FBI has also decided to look into the matter.
The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforcement.
Dogecoin and Terra Luna once enjoyed investor attention and this translated into value, now this hype has waned but both are working to rectify this.
It has been more than nine months since the crypto-project Terra Luna saw a catastrophic collapse in May last year. For its part, the price of LUNA has been on a downtrend for a few weeks now, with the altcoin trading at $1.26 at press time.
Whether cryptos or the more dated fiat currencies are the future is no longer up for debate, but the direction finance wants to take the world is.
GMT, ANC and LUNA are among the cryptocurrencies most notable for the recovery made after a less than reassuring week, let's look at them together.
Singapore authorities have launched a probe into Do Kwon's Terraform Labs, the entity that developed the now-collapsed TerraUSD stablecoin.
Singaporean police are ready to make their best effort in finding Crypto Waldo.
Singapore Police on Monday said they have started investigating Terraform Labs Pte, the company co-founded by South Korean citizen Do Kwon. Singapore-based Terraform Labs is currently functional with the number of projects growing continuously.
Terra (LUNA) was amongst the most rapidly growing digital currencies that swept the cryptocurrency market. The recent de-peg event called for a new Terra (LUNA), to the older one which is now Terra Classic (LUNC). Terra LUNA one-of-a-kind feature is a crucial motivator in eliminating the mining barrier.
The crypto market is still dealing with the fallout from Silvergate's danger warning.
It has been nine months since the crypto project Terra (LUNA) experienced a catastrophic collapse in May last year. The price of LUNA has been down for the past few days before rising to $1.74.
New regulation coming in 2023 could damp investor enthusiasm for the crypto market.
Terra (LUNA) cryptocurrency, which had been surging in value over the past few weeks, experienced a major crash on February 23rd, losing nearly 25% of its value in just a few hours.
It has been nine months since the crypto project Terra (LUNA) experienced a catastrophic collapse in May of 2022. In the span of just one week in May, Terra's algorithmic stablecoin, UST, was unable to keep its exchange rate pegged to the U.S. dollar value.
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust.
The world's largest crypto exchange Binance presented some terms directly to the Terra Luna Classic community in order to continue its LUNC burn mechanism from March 1. In response, the Terra Luna Classic community passed three key proposals, ensuring to bring back Binance's contribution LUNC burn campaign to reduce circulating supply.
The price of Terra Luna (LUNA) has been down for the past few days before rising to $1.74 at press time. As the SEC charged Terra founder Do Kwon with fraud over the $40 billion crypto crash, it has adversely affected the market, and LUNA as well.
The price of the Terra Luna Classic (LUNC) rose by 1.5% in the past 24 hours, reaching $0.0001648 as the wider market rose by a similar percentage. It has now fallen by 6% in a week and by 8.5% in the last 30 days, as a mixture of the SEC's actions against Terraform Labs and struggling investor sentiment pulls it down.
The New York State Attorney General's office sued crypto exchange CoinEx, arguing it was an unregistered securities broker and commodity broker-dealer under state law.
The Terra Luna Classic community's main objective in February was to focus on returning the Binance LUNC burn mechanism. After Proposal 11310 by Terra Classic core developer Edward Kim was unanimously passed in January, the community moves swiftly to pass another key proposal.
