Judge Rakoff disagreed with both Judge Torres’ interpretation of securities law and Terraform Labs’ attempt to capitalize on it.
CEO Amani said it "makes sense" that Terraform Labs continues its operations without Do Kwon.
Daniel Shin is on trial for several financial crimes related to the collapse of UST, including outright fraud.
The funds supposedly belonged to Do Kwon, Chang-joon Han, Nicholas Platias, and TFL corporation.
He also asserted that the person he was caught with was innocent.
There could be some relief for the Korean developer, though, as his lawyers tried to drop charges filed by the…
Kwon or "someone under his direction" purportedly moved almost $30 million in crypto after the arrest in Montenegro and cashed…
Kwon and Joon will be placed under house arrest and monitored by the police.
Do Kwon remains in jail, and the lower court will be forced to make another decision on his bail ruling.
Despite its rather short history, the cryptocurrency industry has gone through some real shockers. Here are some examples.