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Terraform co-founder Do Kwon will plead guilty to wire fraud and conspiracy to defraud, Reuters reports, following a years-long criminal case after the collapse of algorithmic stablecoin Terra USD, which wiped out tens of billions of dollars.Kwon, 33, also told the court that he would be waiving the…
By Caitlin Ostroff, Sam Kessler and Alexander OsipovichDisgraced cryptocurrency tycoon Do Kwon pleaded guilty to two criminal counts of fraud on Tuesday in connection with the $40 billion crash of his TerraUSD and Luna coins in 2022.In exchange for Kwon's plea, federal prosecutors agreed to not seek…
Terraforn Labs co-founder Do Kwon may plead guilty years after U.S. prosecutors charged him with fraud and money laundering.In a scheduling order filed on Monday in the U.S. District Court for the Southern District of New York, Judge Paul Engelmayer wrote that the "Court has been advised that the de…
Google search data shows interest in stablecoins surged to an all-time high this month as regulations were greenlit, stablecoin issuance and supply skyrocketed, and institutions increasingly look to launch their own tokenized fiat equivalents. The previous peak for stablecoin searches was in May 202…
South Korea’s central bank has halted its digital currency testing project, raising doubts about the country’s central bank digital currency (CBDC) plans. As reported by Bloomberg, the Bank of Korea (BoK) told the participating banks that it has decided to pause talks on the initiative for now.A Que…
Ethereum co-founder Vitalik Buterin argues it’s Ethereum’s application layer, not its infrastructure layer, where Ethereum needs “good social philosophy” the most. The app layer is where developers build decentralized applications on top of Ethereum’s base infrastructure and where they make decision…
The price of the Mantra (OM) token, the native cryptocurrency of the Mantra real-world tokenized asset blockchain, has collapsed by over 90% in the last 24 hours.On April 13, Mantra fell from a price of approximately $6.3 to below $0.50 and shed over 90% of its $6 billion market cap.Traders are char…
Sonic Labs has canceled plans to launch a US dollar-pegged algorithmic stablecoin, opting instead to develop a United Arab Emirates dirham-denominated alternative.On March 22, Sonic Labs co-founder Andre Cronje said the company was working on a US dollar-pegged algorithmic stablecoin with an annual …
Artificial intelligence agent operating system Up Network and technology firm DreamSmart announced the launch of the world’s first Web3 AI glasses, which seek to redefine human-machine interactions.The new glasses incorporate AI algorithms, extended reality (XR) capabilities and Web3 incentives, loo…
Terra Luna Classic sees growing interest due to its trading volume surge. Token burns and governance updates strengthen expectations for price increases. Continue Reading:Terra Luna Classic Captivates Attention with Rising Trading Volume The post Terra Luna Classic Captivates Attention with Rising T…
The SEC’s order may affect various protocols, including Mirror and Anchor Protocols, which were integral to the upcoming Terrla Luna Classic (LUNC) burn calculations. Despite the upcoming burn event, LUNC’s price has remained stagnant, struggling to surpass the critical resistance level of $0.000095…
Proposal 12141 dubbed “Dealing with CoinMarketCap and other listings” has been passed by the Terra Luna Classic community after a couple of days of voting. The proposal is focused on managing the listing details of Terra Luna Classic on the CoinMarketCap platform. The Terra Luna Classic community ha…