Revealed: Terra’s UST Peg Was Maintained Artificially, Not by Algorithm?
According to a Securities and Exchange Commission (SEC) complaint submitted on Thursday, TerraUSD (UST) was backed at least once in May 2021 not by its algorithm but rather by the intervention of a “third party,” which committed to buying sizable amounts of UST to restore the $1 peg.
Gemini Will Be Qualified Custodian Under Proposed SEC Rules
Crypto exchange Gemini would be considered a qualified custodian if the Securities and Exchange Commission’s (SEC) proposed expansion becomes official, according to Gemini co-founder Tyler Winklevoss.
Microstrategy Has Raised $46.6M via Share Sales Since September
MicroStrategy, led by Michael Saylor, disclosed in an SEC filing that it has raised $46.6 million through the sale of shares since September 2022, when it entered into an agreement with underwriter Cowen and Co.for the sale of up to $500 million in common stock.
Crypto Evening Briefing: Do Kwon Tapped Hoard of 10,000 Bitcoin Via Swiss Bank; Judge Alludes to Possibility of SBF Bail Reversal
Shenzhen, China, has begun a retail-focused “cross-border” digital yuan pilot with Hong Kong. Japan will launch a pilot programme in April to test the use of digital yen.
Crypto Fugitive Do Kwon Tapped Hoard of 10,000 Bitcoin Via Swiss Bank, SEC Says
Crypto fugitive Do Kwon and the firm he founded transferred over 10,000 Bitcoin out of their doomed project and turned some of the tokens into cash via a Swiss bank, the Securities & Exchange Commission said.
SEC Going After Terra Sparks Responses From Crypto Lawyers: ‘Wild’
Terraform Labs and its founder Do Kwon being in the sights of the United States Securities and Exchange Commission (SEC) have sparked various reactions from lawyers within the crypto community.
Bernstein: SEC Tightening of Crypto Regulations Is not an Existential Threat
Regulatory action against the Binance USD (BUSD) stablecoin and its issuer Paxos was specific to BUSD and cannot be extrapolated to others such as USD Coin (USDC), Bernstein said in a research report Thursday.
Terra Classic Market Cap Drops Below $1 Billion As SEC Formally Charges Do Kwon
Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, is experiencing a capital outflow after the United States Securities Exchange Commission (SEC) formally charged founder Do Kwon.
BUSD Exchange Outflows Reach Monthly Peak As Paxos Fuels Mass Exodus
The regulatory hammer has fallen hard and this time it has come down hard on Paxos, the issuer of BUSD. As a result, a bank-run type of event ensued as investors dropped BUSD.
Terra Lawsuit a ‘Roadmap’ to Attack Other Stablecoins: Delphi Labs
According to a lawyer, the United States Securities and Exchange Commission’s (SEC's) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins. Gabriel Shapiro, general counsel at investment firm Delphi Labs, explained to his 33,800 Twitter followers on Feb. 16 that the SEC’s arguments in its complaint against Kwon and Terraform were “more thorough than usual.” (Cointelegraph)
