US SEC Investigating Do Kwon’s Terraform Labs and UST Collapse: Report
The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Terraform Labs and the collapse of algorithmic stablecoin terrausd (UST). “SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules.” SEC Launches Investigation of Terraform Labs and UST The U.S. SEC is investigating Terraform Labs and its algorithmic stablecoin terrausd (UST), Bloomberg reported Thursday, citing people familiar with the matter. UST lost its peg to the U.S. dollar in early May. The stablecoin quickly lost....
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The company behind the failed Terra (LUNA) ecosystem, now dubbed Terra Classic (LUNC), Terraform Labs (TFL) could be behind the collapse of its native algorithmic stablecoin UST. Per a report from CoinDesk Korea, investigators linked the company to the attack that led to UST losing its peg to the U.S. dollar. Related Reading | Bitcoin Will […]
Official records show Do Kwon dissolved Terraform Labs Korea, closing down its headquarters and sole branch just days before the collapse of terra crypto (LUNA) and stablecoin terrausd (UST). Do Kwon Shut Down Terraform Labs Korea Before UST and LUNA Fallout Terraform Labs founder Do Kwon reportedly closed down his company in Korea days before the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). According to South Korea’s supreme court registry office, Terraform Labs Korea decided to dissolve its Busan headquarters and Seoul branch at the general shareholders....
Terraform Labs co-founder Do Kwon has claimed that Korean authorities haven’t contacted or filed any charges against him in the Terra investigation. Terraform Labs co-founder Do Kwon has reportedly hired a lawyer from a domestic law firm in South Korea just days after claiming the South Korean authorities are yet to reach out to him or file any charges against him.According to a local media report, Kwon recently submitted a letter of appointment to an attorney at the Seoul Southern District Prosecutors' Office, the department that is currently investigating the Terra-LUNA collapse.While....
The U.S. regulator is investigating whether Terraform used its Mirror Protocol to sell unregistered securities in a case unrelated to the Terra collapse. The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). The federal agency was seeking documents and testimony in connection with its investigation of whether Terra used the Mirror Protocol to sell unregistered securities.Kwon was served with the subpoena in September 2021 while he was attending a conference in New....
Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff Nick Patterson on behalf of others similarly situated and the law firm Scott+Scott LLP.
A Class-Action Lawsuit Has Been Filed Against TFL and Affiliated Firms — Plaintiffs Claim Terra-Based Tokens Were Unregistered Securities
According to recently filed documents in the U.S. District Court in Northern....