Terra | ForkLog

ForkLog 9 25.11.2024

SEC Collects $8.2 Billion in a Year, Over Half from Terraform Labs Settlement

The SEC secured a record $8.2 billion through enforcement actions, with $4.47 billion stemming from a settlement with Terraform Labs (TFL). The regulator collected $2.1 billion in fines and $6.1 billion in payments to affected investors. Total figures increased by 65.5% compared to the previous year. Data: SEC. The reported data corresponds to the fiscal […]

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ForkLog 19 19.11.2024

Binance Responds to Comparisons Between Upcoming BUFSD and Terra’s UST

The soon-to-be-launched token BUFSD, which promises an annual yield of 19.55%, is not a stablecoin. Representatives from Binance clarified that the asset is a margin product with rewards for futures trading. BFUSD is not yet launched. To be clear, it is not a stablecoin but a reward-bearing margin asset for futures trading. We are glad […]

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ForkLog 16 14.10.2024

Avalanche Foundation to Repurchase AVAX Tokens Sold to Terra

The Avalanche Foundation plans to repurchase 1.97 million AVAX tokens, which the Luna Foundation Guard (LFG) acquired in April 2022, a month before the collapse of the Terra ecosystem. The Avalanche Foundation has negotiated an agreement to repurchase all AVAX tokens previously sold to the Luna Foundation Guard (LFG) in April 2022, which is now […]

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ForkLog 9 20.09.2024

Terraform Labs Granted Liquidation Approval

On September 19, a bankruptcy court in Delaware approved the liquidation plan for the cryptocurrency firm Terraform Labs as part of its bankruptcy proceedings, according to Reuters. The judge endorsed the company’s bankruptcy plan, describing it as a “welcome alternative” to further litigation over investor losses. The decision follows an agreement between Terraform Labs and […]

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ForkLog 18 13.08.2024

3AC Liquidators Demand $1.3 Billion from Terraform Labs

The bankruptcy managers of the cryptocurrency hedge fund Three Arrows Capital (3AC) have demanded at least $1.3 billion from Terraform Labs, the entity behind the Terra ecosystem, according to Bloomberg. Court documents reveal that the company “encouraged” 3AC to purchase native LUNA tokens and the algorithmic stablecoin TerraUSD (UST), manipulating markets to “artificially inflate asset […]

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ForkLog 6 09.08.2024

Do Kwon’s Extradition from Montenegro Delayed Again

The anticipated extradition of former Terraform Labs (TFL) CEO Do Kwon from Montenegro to South Korea has been postponed. This occurred at the request of the Supreme Court, which granted the plea of Justice Minister Andrija Milović, reports Vijesti. Milović also serves as the country’s chief prosecutor. His department filed a motion for the protection […]

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ForkLog 23 02.08.2024

Do Kwon to be Extradited to South Korea

The Court of Appeals in Montenegro rejected the US request for the extradition of former Terraform Labs (TFL) CEO Do Kwon, deciding instead to send him to South Korea. This verdict by the Court of Appeals upholds the decision of the High Court of Podgorica, made at the end of June. In November 2023, the […]

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ForkLog 13 31.07.2024

Terra Blockchain Relaunched Following $5.2 Million Hack

On July 31, a hacker attacked the Terra (Phoenix-1) network, stealing digital assets totaling approximately $5.2 million. ?Attention Terra users: Please be advised that the chain will be halted shortly at block height 11430400 and transactions will not be processed during this time. We will be working with the validators on Terra (phoenix-1) to apply […]

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ForkLog 11 19.06.2024

Montenegro’s Prime Minister Linked to Early Investment in Terraform Labs

Montenegro’s Prime Minister Milojko Spajić was reportedly an early investor in the now-defunct Terraform Labs (TFL), according to local Vijesti, citing court documents. In April 2018, he invested $75,000 in the company to acquire 750,000 LUNA at $0.1 each, securing the politician the 16th spot on Do Kwon’s list of company investors. Media reports indicate […]

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ForkLog 5 14.06.2024

Ripple Seeks to Reduce SEC Fine to $10 Million

Ripple Labs submitted a letter requesting a reduction of the SEC fine from $2 billion to $10 million. The company cited the agreement between the regulator and Terraform Labs (TFL) as a precedent. On June 12, TFL agreed to pay $4.47 billion. The court approved the deal, which includes $3.58 billion in compensation, a $420 […]

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ForkLog 7 13.06.2024

Terraform Labs to Cease Operations and Transfer Network Control to Community

Chris Amani, CEO of Terraform Labs (TFL), has called upon the community to take control of the Terra blockchain as the organization plans to dissolve. 2/ TFL always intended to dissolve at some point and that point is now. We will be winding down operations completely. Special thanks to the lunatics who supported us through […]

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ForkLog 21 13.06.2024

Terraform Labs Fined $4.47 Billion by SEC

Following the settlement agreement between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs regarding the collapse of its ecosystem, the latter has agreed to pay $4.47 billion. On June 12, the regulator submitted a “proposed final consent judgment” for the judge’s approval. “[The document] not only considers the scale of the fraud by […]

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