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Slack conversations between Terraform Labs' co-founders Do Kwon and Daniel Shin have exposed their contemplation of orchestrating fraudulent transactions on the Terra blockchain.
According to a Sept. 22 filing, the co-founders of the now-defunct Terra blockchain project are alleged to have planned to create fraudulent transactions during the project's development.
"I won't tell if you won't," Terra's Do Kwon said, according to SEC documents.
Do Kwon has been summoned by the SEC for an in-person interrogation. Kwon and his legal representatives filed a petition to dismiss the request
The legal representatives of Do Kwon, the co-founder of Terraform Labs, have approached a federal court with a plea to prevent the United States Securities and Exchange Commission (SEC) from interrogating him on American soil regarding the failure of the Terra ecosystem. A recent filing on September 27 revealed that Kwons attorneys argued that its infeasible for the SEC to question him stateside before October 13.
In the fast-paced and ever-evolving world of cryptocurrency, Terra Classic (LUNC) has made a remarkable entrance onto the stage, grabbing the attention of investors and enthusiasts alike. Its recent performance has been nothing short of impressive, boasting a substantial seven-day price surge of 13% and a jaw-dropping 323.66% spike in the past 24 hours.
Kwon is not eager to leave Europe, as American lawmakers are prepared to ask inconvenient questions.
Luna Classic's 12% pump over the past day took it above the 23.6% Fib level, as bulls look to rally again.
The legal team defending Do Kwon, the co-founder and former CEO of Terraform Labs, argues that the U.S. Securities and Exchange Commission (SEC) lacks the capacity to depose Kwon, deeming it an “impossible” feat.
Lawyers argue that facilitating Kwon's presence in the U.S. is impossible. His detention in Montenegro hinders written testimony to the SEC, violating his due process rights.
The legal team representing Do Kwon, the former CEO of Terraform Labs, has firmly declared that the United States Securities and Exchange Commission's (SEC) demands for his deposition are impractical
“Challenging the SEC's request for his interrogation within the United States, Terraform Labs co-founder, Do Kwon, and his legal counsel have approached a federal court.
Terraform Labs co-founder Do Kwon has opposed the U.S. SEC's extradition request due to his detention in Montenegro.
With LUNA and LUNC price growing due to the burning events, the buyers are actively increasing the demand. The sharp increase in the market over the last few days has created waves in the crypto market. With new buyers ready to join in on the FOMO rally, LUNC price might face multiple oppositions ahead.
Kwon's legal representation strongly opposes his testimony before U.S. authorities. As per his legal team's stance, the extradition to the U.S. is deemed an impossibility.
The crypto industry continues to hover around its support levels as the bulls struggle to stabilize the price. Terra LUNC, on the other hand, has managed to trade positively as the price has gained over 12% in the past week. The LUNC coin has been trading in an ascending trendline since mid-September.
Terra Classic (LUNC) from the past few weeks is in the green zone, with a cumulative seven-day price increase of 13%. With a great trading volume, LUNC has peaked by 323.66% in the last 24 hours, propelling its price to $0.00006508, representing an 8% gain amidst a broader passive crypto market.
The Terra Classic (LUNC) ecosystem is experiencing a surge in bullish momentum, closely following the upward trajectory of its sister project, Terra LUNA. Recent market data from Binance-backed Coinmarketcap reveals a remarkable 214 percent increase in Terra Classic LUNC's 24-hour trading volume, reaching approximately $59 million.
The Securities and Exchange Commission (SEC) is seeking to depose Terraform Labs co-founder Do Kwon in the U.S. by Oct. 13, according to a legal filing reviewed by CryptoSlate. This comes despite Kwon currently being detained in Montenegro pending potential extradition.
Lawyers representing imprisoned Terraform Labs co-founder Do Kwon have urged a US federal court to reject a request from the SEC to question Kwon in America by October 13.
The SEC filed a lawsuit in February 2023 against Terraform Labs, saying that the company had misled investors about the soundness of its TerraUSD stablecoin. Since the case's upcoming discovery deadline, October 13, is knocking on the door, the SEC is now more determined than ever to interrogate Kwon personally.
In a crypto market characterized by recent fluctuations and uncertainty, Terra Classic (LUNC) has been on a rollercoaster ride for nearly six weeks. During this period of high volatility, the coin has carved out a short-term sideways trend, leaving many investors wondering about its future direction.
The Terraform Labs co-founder has pushed back against the SEC's request to question him in the United States.
The legal team of Terraform Labs former CEO Do Kwon declares that the United States Securities and Exchange Commission (SEC) deposition request is not viable.
