Browsing:Do Kwon

Terraform Labs declares bankruptcy amid legal issues and huge losses from TerraUSD collapse.
1 month ago 1 min read

Terraform Labs, the company known for the failed TerraUSD stablecoin declares bankruptcy

Terraform Labs Pte. filed for Chapter 11 bankruptcy in Delaware on January 21, according to court documents. The company, best known for its involvement in the ill-fated TerraUSD stablecoin, has revealed financial details, including assets and liabilities valued between $100 million and $500 million. The collapse of TerraUSD and Terra’s LUNA token in May 2022 resulted in significant losses for investors, ushering in a difficult period in the crypto world. Terraform Labs’ bankruptcy filing sheds light on the firm’s current financial situation, citing assets and liabilities valued between $100 million and $500 million. The parity of reported values emphasizes the

Do Kwon Seeks Trial Delay Amid Montenegro Extradition Delays, SEC Allegations Loom
1 month ago 1 min read

Do Kwon seeks to delay his US trial as extradition from Montenegro faces delays

In a recent legal development, Do Kwon, the former CEO of Terra, has requested that his trial in the United States be postponed. The trial, which is centered on charges brought by the US Securities and Exchange Commission (SEC), could be delayed due to Kwon’s extradition from Montenegro. Kwon’s legal team informed Judge Jed S. Rakoff in a letter that the extradition process from Montenegro is moving more slowly than expected. Kwon’s lawyers believe he will not be extradited until February or March, prompting a request to postpone the trial until mid-March to allow him to attend. If the court