Paradigm Files Amicus Brief in US SEC Suit Against Terra and Do Kwon
Paradigm, a crypto-focused investment firm, has filed an amicus brief in the US SEC lawsuit against Terraform Labs and its co-founder Do Kwon, challenging the SEC’s theory that stablecoins are securities. The venture capital firm was never invested in the Terra ecosystem and will support neither the SEC nor Terra and Do Kwon in the […]
South Korean court freezes $92M in Terra-related funds
Authorities in South Korea are still looking into the collapse of the Terra ecosystem more than six months after it happened and have frozen the funds of those who were involved. Shin Hyun-Seong, a co-founder of Terra, had 140 billion won ($108 million) seized from him in November, and the Seoul Southern District Court has […]
South Korean court freezes Terra co-founder asset worth $104M
South Korean Court to seize $104 million worth of assets from Terra co-founder, based on a request from the prosecutors. While FTX grabbed the spotlight away from other fell ecosystems, South Korean authorities are working to offer closure to the victims of the year’s first crypto crash, Terraform Labs. South Korean authorities froze roughly $104.4 […]
Co-founder of Terra denies earning $100 million in illicit profits
Ex-Terra CEO, Shin Hyun-seong, testified before the prosecution on November 17 denying that he sold tokens when LUNA was nearing its highs Earlier this week, it was announced that ex-Terra CEO Shin Hyun-seong, or Daniel Shin, had been compelled to appear before South Korean prosecutors for unfairly profiting from the sale of LUNA [now LUNC] […]
Galois Capital Has Half of Its Capital Trapped on FTX
Co-founder Kevin Zhou says that the locked funds are worth about $40 million. Galois Capital, a cryptocurrency hedge fund, told CoinDesk in a Telegram message on Saturday that about half of its funds are stuck on FTX, a troubled cryptocurrency exchange that filed for chapter 11 bankruptcy on Friday.Zhou said that the funds locked up […]