South Korean prosecutors chasing Do Kwon, while exchanges still trade his tokens
South Korean authorities issued an Interpol red notice against Kwon last week concerning the failed DeFi project, claiming he had fled to Singapore.
Latest Terra News
South Korea aims to invalidate Terra founder Do Kwon’s passport: report
Prosecutors in South Korea filed a request with the Foreign Ministry to invalidate the passport of Kwon and four others behind the collapsed LUNA and UST.
South Korea: Digital assets can be subjected to securities law
Financial Supervisory Service Governor Lee Bok-hyun argued that caution should be exercised in passing judgments on whether or not a digital asset can be categorized as a security.
Do Kwon: South Korea issues arrest warrant for Terra founder
The warrant from the Supreme Prosecutors Office was issued for five others who worked at Terra, with South Korean authorities accusing them of violating the Capital Markets Act.
Hodlnaut trims workforce by 80% as it attempts to resolve financial woes
Embattled digital currency lender Hodlnaut laid off 80% of its workforce amid its current financial plight brought about by the so-called crypto winter but assured customers that steps are being taken towards recovery.
South Korea: Prosecutors raid digital assets exchanges in Terra investigation
Investigators from the Seoul Southern District Prosecutors Office searched the offices of several digital assets exchanges to seize records and other materials related to the Terra collapse, according to reports.
3AC’s tangled web leaves creditors out missing billions
The bankruptcy of ‘crypto’ hedge fund Three Arrows Capital (3AC) continues to rock the wider digital asset sector, threatening an ever-widening pool of companies that put their trust in a pair of scammers.
Russia’s central bank opposes ‘overly risky’ private stablecoins
The Bank of Russia says that stablecoins are risky because the underlying pool of assets doesn’t belong to the user, and there’s no guarantee of redemption.
G20 financial watchdog to propose digital asset regulations in October
The Financial Stability Board has stayed away from the industry but says the recent Terra debacle has made it rethink its stand as it called for strict oversight over Bitcoin.
US court freezes Three Arrows Capital assets and approves subpoenas for founders
The order was made in response to an emergency motion by liquidators, who say that 3AC’s founders—Su Zhu and Kyle Davies—have been uncooperative.
US, South Korea agree to share investigation data related to Terra collapse
South Korea has agreed with the United States to share digital asset crime investigation data and make joint efforts to investigate entities and persons connected to the collapsed Terra blockchain.
Is it the end of the era? Or just the end of the latest pump cycle?
Looking around now at the constant stream of insolvencies cropping up in the industry, it is clear that we are facing a contagion story that is almost as big as the mortgage crisis of 2008.