All articles tagged with #terra
Scientists at Hebrew University have developed a novel small molecule using RIBOTAC technology that selectively targets and destroys the cancer-associated RNA TERRA, slowing tumor growth and opening new avenues for RNA-based cancer therapies beyond traditional protein-focused drugs.
The court in Montenegro has approved the extradition of Do Kwon, the founder of Terra (LUNA), to the US and South Korea. Kwon, who was arrested in Montenegro in March, has given his consent to be extradited. The authorities in both countries want him to face charges related to the $40 billion crash of the Terra ecosystem in 2022.
Daniel Shin, co-founder of Terraform Labs, has been charged with fraud, breach of duty, and embezzlement in connection with the collapsed Terra and Luna cryptocurrencies. Nine other people with ties to Terra have also been indicted. South Korean authorities have frozen a total of 246.8 billion won (about $184.7 million) in assets from the individuals charged. Shin's lawyer claims he has nothing to do with the collapse and has been cooperating with the probe for over 10 months.
Nine former staff members of Terra, along with co-founder Daniel Shin, have been indicted by South Korean prosecutors for their alleged involvement in the failed stablecoin project. The charges include violating capital markets law and leading a fraudulent marketing campaign to deceive investors. The prosecutors allege that the entire operation was infeasible from the beginning, and that staff knew it. When the Terra/Luna ecosystem collapsed, investors lost nearly $60 billion. The Terra staff are being prosecuted without detention, and their assets have been frozen.
John Oliver criticized the crypto industry's biggest failures, including Terra, Celsius, and FTX, calling them "fiascos." He also highlighted the absurdity of the numerous cryptocurrencies, including Dogecoin, Catcoin, Pandacoin, Furrycoin, Cumrocket, Elon Sperm, and Monkey Jizz. Oliver also pointed out a Celsius memo that called the company's operations "very Ponzi-like" and "possibly illegal and definitely not compliant."
South Korean authorities are reportedly making a renewed attempt to arrest Shin Hyun-Seong, co-founder of Terraform Labs, following the recent arrest of his colleague Do Kwon in Montenegro. Shin has been accused of earning $105 million in profits from illegal sales of LUNA tokens before Terra's collapse, but he claims to have had no involvement in the company after January 2020. Arrest warrants have also been sought for three investors and four engineers. Charges against Shin include fraud, breach of duty, violation of capital markets law, and illegal fundraising.
Terra's LUNA tokens fell 8% after reports of founder Do Kwon's alleged arrest in Montenegro surfaced. The country's minister of interior tweeted that the person was suspected to be Do Kwon, and the government is trying to confirm the identity. Traders reacted immediately to the reports, with LUNA falling 10 cents from $1.40 at writing time on Thursday.