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The U.S. Securities and Exchange Commission (SEC) has raised objections to a $166 million retainer payment to lawyers of Terraform, according to Reuters.
The SEC has asked a US bankruptcy court to deny Terraform Labs' retention of Dentons as its special counsel in a filing submitted Tuesday.
In a significant development for the Terra Luna Classic community, Terra Tritium has unveiled the Tritium Bridge, an innovative solution designed to enhance utility and facilitate seamless token teleportation between different blockchains. Validator VegasMorph highlights the potential return of utility to the chain through recent advancements, with the Tritium Bridge positioned as a pivotal component.
Recent efforts within the Terra Luna Classic community focus on upgrades, burning initiatives, and advancements in staking to enhance utility and generate cash flow. Dedicated developer groups are actively addressing these requirements.
Amid the Terra Luna Classic community push for upgrades, burn, and staking developments, utility and cashflow are major requirements that some dedicated developer groups working on. Recent developments including the launch of the Tritium Bridge could return utility to the chain, claims validator VegasMorph.
The legal conundrum surrounding fallen crypto star Kwon Do-hyeong has taken yet another key turn as the U.S. Securities and Exchange prepares to begin its trial against him. Interestingly, Kwon may miss the beginning of the securities fraud trial due to delays in his extradition from Montenegro.
Kwon's US SEC fraud case is scheduled for March 25. However, his lawyer doubts he will be extradited before the end of that month.
The crypto market has been lively lately due to price increases. It all started on Monday when the price of Bitcoin surged above $57,000, a level not seen since 2021.
Do Kwon's lawyers told a US court on Feb. 26 that the Terraform Labs co-founder will be unable to attend the initial hearings of the SEC trial. The lawyers did not request an adjournment and said the trial could begin as scheduled on March 25 without Kwon's presence, according to court filings.
As per the recent court filings, the co-founder of Terraform Labs, Do Kwon, may not arrive in the United States in time for the trial with the Securities and Exchange Commission (SEC). Kwon's legal representatives have concerns regarding the postponement of the extradition process from Montenegro, where Kwon has been detained since March 2023.
The Terraform Labs co-founder and his lawyers seek tactics to evade accountability, determined to fight tooth and nail against extradition.
Former Terraform CEO Do Kwon's extradition battle continues.
Price increases in the crypto market have kept the mood vibrant since Monday when Bitcoin price broke out above $57,000 for the first time since 2021, triggering a 5% spike in Terra Classic (LUNC price) to $0.00013. LUNC Price Prediction As Technicals Improve Terra Classic has kept a bullish outlook since the beginning of February, with LUNC
According to Do Kwon's legal team, a Montenegrin High Court made a Feb. 21 ruling to extradite the Terraform co-founder to the United States “based on erroneous information.”
Read our Terra Classic price prediction to explore the coin's price journey so far and consider where it could go in the future. Terra is a blockchain protocol that utilizes fiat-pegged stablecoins to facilitate global payment networks.
The legal saga surrounding Terraform Labs co-founder Do Kwon is taking another pivotal turn as the US Securities and Exchange Commission (SEC) prepares to commence its civil trial against him on March 25, despite his likely absence due to extradition delays from Montenegro.
According to Reuters , Terraform Labs founder Do Kwon will likely miss the start of his trial on March 25 because of delays in his extradition from Montenegro. Kwon's lawyer, David Patton, confirmed this information and stated that Kwon does not plan to request a postponement for the trial date.
The uncertainty around Do Kwon's extradition to the US continues as the Public Information Officer of the Podgorica High Court highlights key reasons that may result in the delay.
Amidst mounting legal battles, Terraform Labs Co-Founder Do Kwon faces uncertainty regarding his upcoming civil trial, scheduled for March 25. Recent developments, including the High Court of Podgorica's ruling on Kwon's extradition, have brought his potential absence on the trial's initial day into focus.
The crypto entrepreneur Do Kwon, best known for his failed algorithmic stablecoin, will likely skip the beginning of a civil trial on U.S. Securities and Exchange Commission (SEC) fraud charges.
Co-founder of Terraform Labs, Do Kwon, is facing potential delays in the extradition process from Montenegro, which has raised about his presence at the upcoming civil trial in the USA against the US Securities and Exchange Commission, scheduled to begin on March 25, 2024.
The Terra Classic community has voted in favor of a proposal to burn 800 million USTC through contract migration, marking a pivotal governance decision.
As the altcoin season warms up with the crypto market crossing the $2Trillion mark, the Terra coins are ready for a comeback. Following the recent bounce back, the Terra tokens underwent a consolidation phase and are now preparing a new bull run.
Complications in Do Kwon's extradition from Montenegro could reportedly result in him missing the start of his alleged fraud trial by the SEC next month.
