Montenegro Financial News

South Korea’s National Police Agency has officially requested assistance from the International Criminal Police Organization (Interpol) in bringing back Kwon Do-hyeong, the co-founder of Terraform Labs, to South Korea, according to a local news agency on March 7.

A Montenegrin court has ruled that cryptocurrency mogul Do Kwon should be handed over to his native South Korea, the latest twist in the months-long legal procedure that followed the arrest of the Terraform Labs founder in the Balkan nation last year

The European Union and Germany say they will give Albania nearly $88 million to turn the three main bus lines in the capital Tirana electric, part of helping the Balkan country meet requirements to join the 27-nation bloc

Do Kwon, the founder of Terraform Labs, has received a legal reprieve as a Montenegro court overturned a previous ruling for his extradition to the U.S.

A court in Montenegro has ruled that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea.

The leaders of Western Balkan countries have agreed to speed up regional cooperation to benefit more from a new European Union plan of financial aid that will help provide a faster road to membership

Do Kwon, co-founder of Terraform Labs, is expected to miss the beginning of his US Securities and Exchange Commission (SEC) trial on fraud charges due to delays in his extradition from Montenegro. The trial which was set to begin last month was postponed to March 25 on Kwon’s request.

A court in Montenegro has ruled that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea

Montenegro’s High Court just decided that the founder of the failed Terra crypto blockchain Do Kwon will be extradited to the US, where he is being prosecuted for crypto fraud, a local news outlet reported on Wednesday.

(Reuters) — A court in Montenegro on Wednesday ruled that crypto entrepreneur and Terraforms Labs co-founder Do Kwon should be extradited to the United States, rather than to his home country South Korea, to stand trial on fraud charges, the Wall Street Journal reported.

Terraform Labs, the company behind the stablecoins TerraUSD and Luna, which collapsed the cryptocurrency industry in 2022, has filed for bankruptcy in the United States.

European cinema landscape experienced a prosperous year in 2023, with significant contributions from blockbuster films such as Barbie, Oppenheimer, The Super Mario Bros. Movie, Spider-Man: Across the Spider-Verse, Mission: Impossible – Dead Reckoning Part One, and Wonka. According to preliminary estimates from the International Union of Cinemas (UNIC), the year saw a remarkable 21 percent increase in European admissions, reaching a total box office of approximately €7.1 billion ($7.6 billion). This marked a substantial gain of 24 percent in Europe and 25 percent in the European Union compared to 2022. While final data for 2023 will be released later in the spring, UNIC reported that several territories, including the Netherlands, Croatia, Albania, Serbia, and Montenegro, exceeded their box office revenues from the 2017-2019 period. Additionally, Austria, the Czech Republic, Finland, Hungary, and Slovakia matched pre-pandemic box office results.

FRANKFURT (Reuters) — The European Central Bank said on Monday it would lower the bar for lending to central banks from outside the European Union in times of crisis.

Terraform Labs has filed for Chapter 11 bankruptcy protection, less than two years after a collapse of the company’s cryptocurrency devastated traders around the world

Last year in May, Ethereum co-founder Vitalik Buterin helped organize an exclusive two-month gathering called Zuzalu in Montenegro.

Terraform Labs has filed for Chapter 11 bankruptcy in the United States following the collapse of the TerraUSD and Luna crypto assets.

Do Kwon’s lawyer has argued that Terraform Labs’ co-founder should be extradited to South Korea and not the United States. The statement comes as a response to extradition requests from both countries, with Kwon currently in detention in Montenegro.

Terraform Labs and co-founder Do Kwon over an alleged $40 billion cryptocurrency fraud, to allow time for Kwon to be extradited so he can attend. In an order, US District Judge Jed Rakoff in Manhattan pushed back the trial to March 25 from Jan. 29, with no further delays even if Kwon were not extradited.

The U.S. Securities and Exchange Commission (SEC) has filed in agreement with Terraform Labs to postpone the civil trial against Do Kwon and his former company, amid ongoing extradition proceedings.

Do Kwon, co-founder of Terraform Labs, has once again appealed the Montenegro High Court’s decision to uphold extradition requests from the U.S. and South Korea. His legal team argues that the recent decision by the Montenegro High Court violates legal provisions, the European Convention on Extradition, and the bilateral treaty with the U.S. on extradition.

By Jonathan Stempel