Golden Web3.0 Daily | Do Kwon will go on trial in Manhattan on Monday
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Terraform Labs and its founder Do Kwon are set to go on trial in Manhattan on Monday, accused by regulators of lying to investors before the collapse of two of the company's cryptocurrencies roiled markets in 2022.
Do Kwon, Terraform Labs co-founder facing SEC charges, requests trial postponement until mid-March due to challenges in Montenegro's extradition process. Kwon desires personal attendance at the trial, currently scheduled for January 29. The SEC charges relate to an alleged multi-billion dollar crypto-securities fraud.
Arkham Intel Exchange celebrates a milestone as two brilliant blockchain sleuths successfully claim the first-ever bounty reward for uncovering crucial evidence related to Do Kwon’s elusive crypto wallets.
Kwon’s attorneys will seek to reduce the 30-day detention extention period ruled by the Montenegrin authorities.
Terraform Labs is headquartered and registered in Singapore and this is the first time the country has publicly taken action against Do Kwon and his firm.
Overall, charges against Kwon center around securities fraud, conducting an unregistered securities offering, and further securities violations.
The U.S. regulator is investigating whether Terraform used its Mirror Protocol to sell unregistered securities in a case unrelated to the Terra collapse.
Do Kwon's co-founder and CEO of TerraForm Labs recently announced the Terra revival plan and received mixed reactions; many of ...
Terraform Labs will put the proposal up for a governance vote on May 18 Asia time.