Do Kwon, the founder of Terraform Labs, has just been sentenced to 15 years in prison for a historic $40 billion fraud. Between ruined victims and relentless regulation, does this conviction mark the end of excesses in crypto?
Do Kwon, former DeFi star, is now at the center of an unprecedented judicial scandal. Less than two years after the collapse of Terra-Luna, which swallowed $40 billion, he is trying to avoid a heavy sentence in the United States. His goal is to convince the court to limit his sentence to five years in prison. Two weeks before his hearing, this request reignites debates about the responsibility of crypto founders in the face of the devastating consequences of their projects.
Do Kwon, co-founder of Terraform Labs, appeared before a U.S. judge on January 2, 2025, where he pleaded not guilty to charges of fraud and money laundering. This hearing marks a key milestone in a case that has shaken the crypto world since the collapse of the Terra ecosystem.
In May 2022, the crypto world experienced one of its biggest debacles with the spectacular collapse of Terra LUNA, wiping out more than 40 billion dollars in value in just 24 hours. This disaster, which shook the entire ecosystem, will be remembered as one of the largest crashes in the history of digital assets.
Bitcoin has just regained $50,000 for the first time since 2021 in a much more favorable context than before.
The year 2023 has ended, but the case involving the SEC and Binance is not yet over. As recently as yesterday, the U.S. crypto regulator filed a notice of supplemental authority, inviting the court to consider a decision made in the SEC vs. Terraform Labs lawsuit. Binance's legal team has their work cut out for them once again.
It's a fact: decentralized finance (or DeFi) and crypto are well and truly present on the European market. In a detailed report, the European Securities and Markets Authority (ESMA) takes a close look at this new financial era. Read on for more details!
Crypto Ripple (XRP) has just undergone a most notable judicial jolt. While it had been sailing on calmer waters since mid-July, the recent verdict by New York federal judge Jed Rakoff has propelled XRP into a whirlwind of uncertainty. Indeed, at the heart of the Terraform Labs-SEC trial, he ruled that crypto Ripple (XRP) was a security. This decision has disrupted and blurred the bearings of many players on the crypto market.
During the Bitcoin 2023 conference in Miami, Michael Saylor, Executive Chairman and Co-founder of MicroStrategy, shared his thoughts on the superiority of Bitcoin. He also took the opportunity to express his views on crypto regulation in the United States, questioning whether the uncertainty and regulatory ambiguity are deliberate.
We’re two weeks into 2022, and the crypto market isn’t showing any determined trend, be it upward or downward. In times as vague as these, it always pays to take your eyes off the big players and explore new and promising places to invest. Available on the Litebit exchange, alongside…