Terraform Labs, whose collapse triggered a wider cryptocurrency market earthquake, has filed for bankruptcy. The Singapore-based digital asset company filed for Chapter 11 in Delaware Sunday (Jan. 21), listing assets and liabilities between $100 million and $500 million. Terraforms’s TerraUSD had been the third-largest stablecoin by market...
The Securities and Exchange Commission (SEC) has reportedly requested a summary ruling in its civil case against Do Kwon, the co-founder of Terraform Labs. The SEC alleges that Kwon and his company engaged in fraudulent activities, offering and selling unregistered securities, Bloomberg reported Friday (Nov. 3). These alleged...
As cryptocurrencies slid Monday, bitcoin hit a three-month low, Bloomberg wrote. The sentiment took a hit because of a spate of financial tightening that will happen this week in both Europe and the U.S. The coin’s price fell 7.4% to $18,273 before paring losses, the...
The government of Nigeria will be rolling out a nationwide digital wallet to allow for international commercialization of intellectual property (IP) forms, a press release said Tuesday (May 24). Developing Africa Group is authorized to build the wallet and IP token platform, and it has...
April 05, 2024
A jury in a U.S. District Court has found Terraform Labs and its co-founder, Do Kwon, liable for defrauding investors in crypto asset securities. The court found earlier that the company and Kwon unlawfully offered and sold crypto asset securities, the Securities and Exchange Commission (SEC), which brought the lawsuit, said in a Friday (April 5) statement. “Terraform Labs and […]
January 22, 2024
Terraform Labs, whose collapse triggered a wider cryptocurrency market earthquake, has filed for bankruptcy. The Singapore-based digital asset company filed for Chapter 11 in Delaware Sunday (Jan. 21), listing assets and liabilities...
November 03, 2023
The Securities and Exchange Commission (SEC) has reportedly requested a summary ruling in its civil case against Do Kwon, the co-founder of Terraform Labs. The SEC alleges that Kwon and his company...
September 19, 2022
As cryptocurrencies slid Monday, bitcoin hit a three-month low, Bloomberg wrote. The sentiment took a hit because of a spate of financial tightening that will happen this week in both...
