Trading activity in the crypto market has picked up this week, with the global cryptocurrency market cap rising by 2% over the past seven days.

South Korea's Supreme Court has upheld a lower court ruling that TerraUSD and LUNA tokens aren't considered financial investment products under the Capital Markets Act, as reported by Korean newspaper Etoday ¹. This decision means TerraUSD and LUNA can't be classified as regulated securities, which will impact ongoing legal proceedings against Terraform Labs executives, including co-founder Shin Hyun-Seong. The post Collapsed TerraUSD and LUNA Not Financial Investment Products: South Korea's Supreme Court Rules appeared first on Cryptonews.

The verdict sets a key precedent that could influence future legal classifications of virtual assets in South Korea.

South Korea's Supreme Court has sided with lower courts in deciding that TerraUSD and LUNA do not meet the criteria for financial investment products.

Bitcoin and the rest of the crypto market took a turn for the worse over the weekend in price drops that have largely been blamed on Trump's promised tariffs. I overheard a handful of X Spaces hosts sound the alarms about it on Monday, acting as though the bull market was over.

Altcoins like Floki, AAVE, Jasmy, and ApeCoin are seeing increased whale activity as volatility in the crypto industry rises. Floki (FLOKI), a popular meme coin, saw its whale activity increase by 286% in the last seven days.

The crypto market just witnessed one of its worst crashes ever, with over $2.24 billion wiped out in liquidations within a single day, even surpassing LUNA and FTX collapses. Bitcoin plunged to $94,000, dragging the entire market into chaos, and leaving leveraged traders in ruins.

Crypto traders betting on higher prices just got wrecked. Over $2.2B in liquidations hit the market as Bitcoin fell to $91K and Ethereum crashed 20% in 24 hours.

The Terra Luna community has taken a decisive step to strengthen its ecosystem. In a recent governance vote, members overwhelmingly approved a proposal to burn unbacked Axelar assets.

Sunny Aggarwal, Co-Founder of Osmosis, believes THORChain's liquidity issues mirror the 2022 Terra Luna collapse. THORChain, a decentralized cross-chain liquidity protocol, has paused its network operations due to a significant debt crisis amounting to nearly $200 million.

Once again, rounds of insolvencies have entered the crypto space, with Thorchain being the most recent. The network has paused THORFI services, probably due to its financial uncertainty, which has circulated shock waves across the markets. The functions like swaps remain active while the lending operations are on hold.

Virtuals Protocol token bounced back on Tuesday, Jan. 14, a day after forming a doji candlestick pattern as its ecosystem tokens rebounded. Virtuals Protocol (VIRTUAL) rose to $2.

Disgraced Terraform Labs co-founder Do Kwon will reportedly face trial in the US early next year. Bloomberg reports that New York District Judge Paul Engelmayer on Wednesday set the schedule of the trial, which will begin on January 26th, 2026 and is anticipated to last from one to two months.

Today's edition of the weekly recap includes top headlines of Do Kwon, Razzlekhan's new music video, Bitcoin's price slump, Bhutan's crypto reserve, and other trending news items.

Terra founder Do Kwon's criminal trial has been set. Here's what you need to know about the $40 billion collapse of TerraUSD and LUNA.

Former Terraform Labs co-founder Do Kwon's criminal trial for alleged fraud has been scheduled for January 2026 due to the need to process six terabytes of evidence and unlock multiple encrypted devices containing potential evidence in multiple languages.

US prosecutors have laid out their plans for discovery in the ongoing criminal case against Terraform Labs co-founder Do Kwon.

Do Kwon trial, related to the $40 billion TerraUSD collapse, is scheduled for January 26, 2026, in New York, with a trial duration of 4-8 weeks.

Do Kwon the former CEO of Terraform Labs, will face trial in the United States, but not until 2026 as decided in a Manhattan Court.

Do Kwon, founder of Terraform Labs, is officially heading to trial in January 2026. The charges?

Kwon's defense attorney's asked for a least a year to prepare for the case, given Kwon's additional legal issues outside the U.S.

U.S. prosecutors are set to review Do Kwon's emails, social media, and devices in preparation for his 2026 trial. Legal documents reveal covert recordings and extensive evidence linked to Terraform Labs' collapsed ecosystem, marking another chapter in the fallout from TerraUSD and LUNA. The post U.S. Prosecutors to Pour Over “Multiple Terabytes” of Do Kwon's Communications as Trial Date Set appeared first on Cryptonews.

The criminal fraud trial of Do Kwon, co-founder and former CEO of Terraform Labs, is tentatively set for January 2026 in the United States.

Terraform Labs founder Do Kwon's criminal prosecution seems set for early 2026, as U.S. Attorney Jared Lenow expects roadblocks in evidence gathering.

The U.S. criminal fraud trial of Do Kwon, co-founder and former CEO of Terraform Labs, has been scheduled to begin in January 2026. The decision was announced during an initial hearing in Manhattan, as prosecutors and defense attorneys prepare to review an extensive six-terabyte trove of evidence.

Do Kwon's trial on TerraUSD collapse charges is set for Jan 2026 in NYC. Prosecutors grapple with vast evidence and translation challenges.

Do Kwon's alleged schemes could have impacted more than 1 million victims worldwide, according to US prosecutors. US authorities extradited Kwon, the disgraced co-founder of the Terra (LUNA) ecosystem, late last month. Kwon faces fraud charges related to the multibillion-dollar downfall of Terra in 2022.

New court documents reveal that authorities plan to search through disgraced Terra (LUNA) founder Do Kwon's personal emails, social media accounts, financial records, and more. According to a new court memo, investigators say they will sift through massive amounts of Kwon's personal data to gather evidence against him.

Terraform Labs co-founder Do Kwon is scheduled to be tried on Jan. 26, 2026, according to a status conference following his extradition to the US, Inner City Press reported on Jan. 8. The court has scheduled a pretrial conference for Mar. 6, 2025, with updates due by Feb. 27.

In a latest development, The trial for Do Kwon is set for 2026 as lawyers navigate a massive trove of evidence. Do Kwon's criminal fraud trial in the U.S. is tentatively set for next January, giving both prosecutors and his defense team enough time to review the large six-terabyte data expected during the discovery process.

Prosecutors are currently working to unlock four of Kwon's cell phones provided by Montenegrin authorities.

As part of discovery proceedings, prosecutors said they would search the Terraform Labs co-founder's emails and Twitter account.

Court documents allege that Do Kwon's crypto ecosystem Terra may have affected over a million victims when UST and LUNA collapsed in 2022.

Do Kwon faces U.S. criminal charges as prosecutors allege his Terra ecosystem misled investors, causing over $40 billion in losses.

Do Kwon, the former CEO of Terraform Labs, is currently under intensive investigation by US officials who allege that he committed fraud that affected over a million people worldwide. During Kwon's trial in a New York court, prosecutors provided a detailed account of the far-reaching consequences of his alleged financial misconduct.

U.S. prosecutors estimate that Do Kwon, co-founder of Terraform Labs, may have defrauded over one million victims globally, prompting the government to seek a public notice procedure to inform them of their rights under the Justice for All Act. The post U.S. Government Seeks Public Notice Procedure for Over 1M Victims in Do Kwon Fraud Case appeared first on Cryptonews.

Former Terraform Labs CEO Do Kwon faces up to 130 years in prison after being extradited to the US, where he pleaded not guilty to fraud charges related to the $40 billion Terra cryptocurrency collapse.

The fallout from the collapse of Terraform Labs continues to unfold, with prosecutors estimating that its co-founder may have defrauded over one million people worldwide. This staggering number stems from the implosion of the Terra ecosystem in 2022, which sent shockwaves through the crypto market and triggered a cascade of bankruptcies among major firms.

US prosecutors estimate over one million victims worldwide were impacted by the collapse of Terraform Labs' ecosystem, as Do Kwon faces criminal charges for fraud and misconduct.

US prosecutors overseeing the criminal case against Do Kwon, co-founder of Terraform Labs, estimate that over one million individuals could have been affected by the ecosystem's collapse.

Kwon, recently extradited to the US from Montenegro, pleaded not guilty to his criminal charges in a New York court last week.

U.S. prosecutors estimate that Do Kwon, co-founder of Terraform Labs, could potentially have one million victims all around the globe following the downfall of the Terra ecosystem.

The Terraform Labs co-founder is in US custody after pleading not guilty to nine felony charges related to fraud at the platform.

Do Kwon, Terraform Labs co-founder, was extradited to the US by Montenegro, bypassing South Korea's petition.

According to Reuters, Do Kwon appeared before Magistrate Judge Robert W. Lehrburger in the Southern District of New York.

The Government estimates that the number of victims of Kwon's actions exceeds hundreds of thousands and potentially totals more than one million.

Several events feature among the top crypto news this week, with this article giving traders and investors a chance to get ahead of the respective ecosystem developments.

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry as SPX6900 crossed a $1.1 billion capitalization earlier Friday to set a new record. Plus, BlackRock's IBIT bled over $332 million and Do Kwon pleaded not guilty to charges of fraud.