The Securities and Exchange Commission on Friday notched a court victory against brash crypto entrepreneur Do Kwon. After a two-week civil trial, a New York jury agreed with the SEC’s claims that Kwon and his firm, Terraform Labs, defrauded investors by misleading them about the stability of TerraUSD, a so-called stablecoin designed to maintain a value of $1. Crypto firms …
The US Securities and Exchange Commission has charged Singapore-based collapsed crypto blockchain platform Terraform Labs and its founder Do Hyeong Kwon with orchestrating a multi-billion dollar crypto asset securities fraud. According to the SEC's complaint, from April 2018 until the scheme's collapse in May 2022, Terraform and Kwon raised billions of dollars from investors by offering and selling an inter-connected …
South Korean prosecutors carried out search and seizure operations at local cryptocurrency exchanges and related offices, looking for evidence of illegal practice involved in the collapse of cryptocurrency Luna in May. “A total of 15 places, including crypto-currency exchanges and related offices, were searched on Wednesday for proof of allegations,” a spokesperson told Reuters on Thursday, without elaborating. Investors have …
