Do Kwon

Cryptocurrency entrepreneur Do Kwon will likely miss at least the start of a March 25 civil trial on US Securities and Exchange Commission fraud charges because of a delay in extraditing him from Montenegro, his lawyer said on Monday.In a letter filed in federal court in Manhattan, Kwon's lawyer David Patton said Kwon will not seek to adjourn the trial date, regardless of when he is ultimately extradited. Patton had made a similar pledge in January.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Singapore-based Terraform Labs (TFL), the company behind digital assets TerraUSD (UST) and Luna, filed for Chapter 11 bankruptcy in Delaware following the collapse of its cryptocurrencies in 2022.  Terraform Labs confirmed that it had filed for Chapter 11 protection in the U.S. as “a strategic step that will enable it to continue its operations and support litigation pending in Singapore and U.S. litigation involving the Securities and Exchange Commission.”  It also said it would “meet all…

Terraform Labs, the company that wiped out $40 billion from the crypto market with the collapse of its TerraUSD and Luna stablecoins, has finally filed for Chapter 11 bankruptcy protection on Sunday. Bloomberg reports that the crypto firm's estimated assets and liabilities are both in the range of $100 million to $500 million, with the estimated number of creditors being somewhere between 100 and 199. Co-founder and former CEO Do Kwon is listed as the majority shareholder at 92 percent, with an address registered in…

A federal judge ruled on Thursday that cryptocurrency entrepreneur Do Kwon and his company Terraform Labs violated US law by failing to register two digital currencies that collapsed in 2022.US District Judge Jed Rakoff in Manhattan sided with the Securities and Exchange Commission in its case stemming from the implosion of the TerraUSD and Luna currencies.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIM KozhikodeIIMK Advanced Data…

Binance boss Changpeng Zhao has become the most powerful cryptocurrency figure to fall in a two-year period chaotic even by the standards of the notoriously volatile industry.Zhao stepped down as CEO of Binance -- the largest crypto exchange in the world -- after he and the company pleaded guilty on Tuesday to sweeping US money laundering violations and agreed to fines of more than $4 billion. Here are three of the highest-profile crypto executives who have fallen foul of the law since last year: - Changpeng 'CZ' Zhao…

Terraform Labs co-founder Do Kwon will spend some months in jail, but he should be more concerned about whether South Korea or the U.S. will nab him next.Image: July Ko (Shutterstock)Failed crypto founder Do Kwon is now facing a stint behind bars, not due to his many alleged crypto crimes, but for his very shady passports. On Monday, Montenegro’s basic court announced it had sentenced Kwon and his compatriot, former Terra chief financial officer Han Chong-joon, to four months in jail. The pair had been arrested earlier…

Image: JOCA_PH (Shutterstock)Cryptocurrency exchange Binance’s U.S. arm has indefinitely paused deposits and withdrawals of American dollar deposits and withdrawals. The company announced it would be freezing these assets after the U.S. Securities and Exchange Commission filed a lawsuit against the exchange and CEO Changpeng Zhao. He Tossed His Bitcoin, Now He Wants It BackThe U.S. affiliate of the popular cryptocurrency exchange announced the freeze in a lengthy tweet posted Thursday night. Binance.US said in the tweet…

Binance was hit with a new lawsuit from the U.S Securities and Exchange Commission Monday. The federal regulator unleashed 13 charges against the world’s largest crypto exchange and its founder Changpeng Zhao Monday, alleging violations of U.S. securities law, accusing the company of operating an illegal exchange.NPR Is Going Dark on Twitter | Future Tech“Through thirteen charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated…

Do Kwon was arrested two months ago for allegedly trying to fly to Dubai with a forged passport. He was allowed a limited release on bail set at $436,000.Photo: Risto Bozovic (AP)Former Terraform Labs CEO Do Kwon, alongside his compatriot and former chief financial officer Han Chong-joon have been on the run from international police for months. They were arrested in Montenegro for allegedly holding two fake passports. None of that was enough to stop the Montenegrin court from offering the pair release on bail for around…

South Korea and the US are seeking the extradition of Do Kwon, an international fugitive accused of a multibillion-dollar fraud, and another suspect arrested in Montenegro last week, the Montenegrin Justice Minister Marko Kovac said on Wednesday. Do Kwon, a South Korean national, is a cryptocurrency entrepreneur and former CEO of South Korea-based Terraform Labs, the company behind the stablecoin TerraUSD that collapsed in May 2022 and roiled cryptocurrency markets. A US indictment announced last week charged Do Kwon, who…