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Top related persons:
Kwon - 2 Laura Meehan - 2 Louis Pellegrino - 2 Luna - 2 Terraform's blockchain - 1 Meehan - 1 Terraform’s blockchain - 1 Jed Rakoff - 1
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Montenegro Manhattan Singapore South Korea Podgorica United States
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Labs - 2 SEC - 2 Terraform Labs - 1 U.S . Securities - 1 Exchange Commission - 1 US Securities and Exchange Commission - 1 SEC Division - 1

Search resuls for: "Louis Pellegrino"


2 mentions found


☆ Terraform Labs and founder Do Kwon found liable in U.S. civil fraud trial
  + stars: | 2024-04-05 | by ( ) www.cnbc.com   time to read: +2 min
A police officer escorts Terraform Labs co-founder Do Kwon after he served a sentence for document forgery in Podgorica, Montenegro, March 23, 2024. A jury in Manhattan found Singapore-based Terraform Labs and its founder Do Kwon liable on civil fraud charges on Friday, agreeing with the U.S. Securities and Exchange Commission that they misled investors before their stablecoin's 2022 collapse shocked cryptocurrency markets. The regulator is seeking civil financial penalties and orders barring Kwon and Terraform from the securities industry. Kwon, who was arrested in Montenegro in March 2023, did not attend the trial, which began March 25. Kwon designed TerraUSD and Luna, a more traditional token that fluctuated in value but was closely linked to TerraUSD.
Persons: Kwon, Terraform's blockchain, Laura Meehan, Meehan, Louis Pellegrino, Luna Organizations: Terraform Labs, Labs, U.S . Securities, Exchange Commission, SEC Locations: Podgorica, Montenegro, Manhattan, Singapore, South Korea
☆ Terraform Labs and founder Do Kwon found liable in US civil fraud trial
  + stars: | 2024-04-05 | by ( ) edition.cnn.com   time to read: +4 min
Kwon designed TerraUSD and Luna, a more traditional token that fluctuated in value but was closely linked to TerraUSD. The SEC is seeking civil financial penalties and orders barring Kwon and Terraform from the securities industry. Kwon falsely attributed the recovery to the reliability of TerraUSD’s algorithms, according to the regulator. Earlier in the case, Terraform argued that securities laws did not apply to the cryptocurrencies it developed. After a final judgment in the case, Terraform will be able to challenge that ruling on appeal.
Persons: Kwon, Terraform’s blockchain, Luna, Jed Rakoff, Terraform, Gurbir Grewal, ” Grewal, ”, Laura Meehan, ” Meehan, Terraform’s, Louis Pellegrino, ” Pellegrino, Rakoff Organizations: Labs, US Securities and Exchange Commission, SEC, SEC Division Locations: Manhattan, Singapore, Montenegro, United States, South Korea
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