Terra Financial News

07.12 / 14:19

Stablecoin regulation Terra Japan recommends against algorithmic backing in stablecoins

After passing its landmark legislation on stablecoins in June, Japanese regulators are considering complementing it by restricting the algorithmic backing of stablecoins. The intention comes as a recommendation from the Financial Service Agency (FSA) and was repeated by the country’s Vice Minister for International Affairs, Tomoko Amaya.

05.12 / 14:09

MET Terra S Korean Prosecutors Fail in Effort to Arrest Terraform Co-Founder Shin, Do Kwon Gloats

South Korean prosecutors have suffered a blow in their bid to arrest the masterminds of the Terra ecosystem – after a court turned down a request for the arrest of the Terraform Labs Co-founder Daniel Shin. The news was met with much glee from Shin’s fellow Co-founder Do Kwon, who celebrated the development on social media.

03.12 / 00:57

Law regulation crimes Terra South Korean judge dismisses arrest warrants for Terra co-founder Do Kwon's former associates

A judge with the Seoul Southern District Court has reportedly set aside arrest warrants for Terra co-founder Shin Hyun-seong along with those of 3 Terra investors and 4 developers.

30.11 / 13:59

Southern Terra Luna Prosecutors Seek Arrest Warrant for Daniel Shin & Seven Other Terraform Players

South Korean prosecutors have asked a court to issue an arrest warrant for the Terraform Labs Co-founder Daniel Shin (Korean name Shin Hyun-seong) – as well as a group of “early” Terra ecosystem “investors.”

30.11 / 11:15

regulation Altcoin Terraform Labs Terra South Korea issues arrest warrant for Do Kwon's former colleagues

Amid the ongoing manhunt for Terraform Labs co-founder and CEO Do Kwon, South Korean authorities have spread out their investigations to target other Terra executives. Prosecutors issued an arrest warrant for co-founder Daniel Shin and seven other engineers and investors of the firm following suspicion of gaining illegal profits before the massive collapse of the Terra ecosystem.

28.11 / 17:31

Southern Terraform Labs Terra Financial S Korean Financial Regulator Says it Warned Terraform Co-founders of Danger Back in 2018

South Korean financial regulators say they warned the Terraform Labs co-founders Do Kwon and Daniel Shin against launching their business back in 2018 – but were ignored.

18.11 / 00:07

Twitter Terra Bitcoin audit Terra Luna Audit Results: 80,000 Bitcoin Worth $2.8 Billion Used to Defend Peg – Here’s What You Need to Know

Terra (LUNA) founder Do Kwon and the Luna Foundation Guard (LFG) spent as much as 80,000 bitcoin, worth a whopping $2.8bn, to defend the algorithmic stablecoin UST’s dollar peg, a new audit report has revealed.

15.11 / 00:33

Law regulation Terraform Labs Terra South Korean prosecutors call on Terra co-founder Shin Hyun-seong to cooperate: Report

Authorities in South Korea have reportedly requested Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, to appear as part of an investigation into the collapse of the firm.

04.11 / 14:15

CEO Southern Terra Prosecutors: We Have Proof Do Kwon ‘Ordered Crypto Price Manipulation’

South Korean prosecutors say they have evidence that proves the missing Terraform Labs Co-founder Do Kwon told an employee to manipulate coin prices. But Kwon has suggested that he is ready to hold a “meetup,” with “cops from all over the world welcome” to attend.

01.11 / 13:19

regulation Terra AIM South Korean regulators aim to toughen crypto fraud punishments

In the aftermath of the Terra collapse last spring, South Korean legislators intend to ramp up legislation, putting specific emphasis on the protection of investors in virtual assets — i.e. digital currencies — and harshening penalties for unfair trade acts in the industry.

29.10 / 01:55

Law regulation Terraform Labs Terra Terra co-founder Do Kwon faces $57-million lawsuit in Singapore

Do Kwon, the co-founder of Terraform Labs who may be facing legal actions in South Korea and the United States, is the target of a lawsuit in Singapore along with the Luna Foundation Guard (LFG) and Terra founding member Nicholas Platias.

25.10 / 17:07

Bithumb Terra MPs hearing S Korean MPs Rage After Terra Co-founder and Bithumb Shareholders Snub Hearing

A number of leading South Korean crypto industry leaders failed to show up to a parliamentary hearing yesterday – including the Co-founder of the under-fire Terra Luna Classic (LUNC) issuer Terraform Labs Daniel Shin, as well as shareholders of the crypto exchange Bithumb.

25.10 / 09:21

business Blockchain regulation Terra Key witness called to testify at Terra parliamentary inquiry is a no-show

The CEO of venture capital firm Hashed and early Terra (LUNC) investor Kim Seo-joon has cited “extreme stress” following the Terra crash as the reason for his no-show at South Korea’s National Assembly's Political Affairs Committee.

20.10 / 11:59

CEO Southern Terra Luna South Korean Prosecutors: Do Kwon Left Singapore for Dubai Last Month

Do Kwon, the Co-founder and CEO of Terraform Labs, left Singapore last month for Dubai, South Korean prosecutors and police have claimed. But Kwon they say he has since left the United Arab Emirates – and is now in a “third” country.

20.10 / 05:47

Blockchain Law Stablecoin Terra 4,400 disgruntled investors are hunting for Terra's Do Kwon

Members of a 4,400-strong Discord group called the “UST Restitution Group” (URG) have been attempting to track down the whereabouts of Terra co-founder Do Kwon.

17.10 / 23:05

business Blockchain Terra Terra developers propose revised 95M LUNA ecosystem funding program

On Monday, developers of the Terra ecosystem, which consists of Luna Classic (LUNC) — formerly known as Terra (LUN, TerraUSD (USTC), and Luna 2.0 (LUNA), proposed a revised expansion program for allocating 95 million LUNA ($248 million). As told by Terra, the new proposal is designed to incentivize development in the Terra ecosystem and fix issues in the original proposal.

06.10 / 14:29

regulation Bitcoin Regulation Terra foreign South Korean foreign ministry orders Do Kwon to return his passport

South Korea's Ministry of Foreign Affairs on Wednesday issued an order for Terraform Labs CEO Do Kwon to surrender his passport.

06.10 / 12:41

regulation Court Terra Korean police reportedly arrest first person involved in Terra collapse

After months of investigation without any single arrest and the main offender on the run teasing the enforcers on Twitter, South Korean police have reportedly captured the first person involved in the Terra blockchain ecosystem collapse.

03.10 / 22:51

business Binance Burn Terra Binance burns $1.8M in LUNC trading fees following community proposal

Cryptocurrency exchange Binance has announced it completed the first burn of Terra Classic tokens’ trading fees in response to a community proposal from September.

29.09 / 15:13

TerraUSD Terra Terra Classic Terra Luna Classic Victims of TerraUSD UST Collapse Speak Out – Will Do Kwon Be Arrested?

Victims of the collapse of the Terra ecosytem, which wiped out over $60 billion of investors' funds, have been speaking up and calling for Do Kwon and entities related to him to be brought to justice.

29.09 / 09:07

Law regulation security Terra WSJ: Terraform Labs claims case against Do Kwon is ‘highly politicized’

Terraform Labs, the company behind the development of the Terra (LUNA) blockchain said South Korea’s case against its co-founder Do Kwon has become political, alleging prosecutors expanded the definition of a security in response to public pressure.

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