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Tracking and analyzing the #SEC's proposed lawsuit against Uniswap Labs
📌 #Uniswp #Uni #SEC
Tracking and analyzing the #SEC's proposed lawsuit against Uniswap Labs
The day before yesterday, SEC sent a Wells notice to Uniswap Labs. The subsequent outcome of this matter may affect the development of the entire crypto Defi field. It intends to plunder the innovation in the DeFi field and threaten decentralization. It will have a direct and serious impact on the token price of the#Defisector, which is worthy of attention!
【1】What is a Wells Notice? It is important to first understand:
"Wells Notice" is a notice sent by the U.S. Securities and Exchange Commission (SEC) to an individual or company, which means that the SEC has completed and discovered the other party's violations and illegal activities, and intends to take further legal action or administrative penalties.
Tracking and analyzing the #SEC's proposed lawsuit against Uniswap Labs
The day before yesterday, SEC sent a Wells notice to Uniswap Labs. The subsequent outcome of this matter may affect the development of the entire crypto Defi field. It intends to plunder the innovation in the DeFi field and threaten decentralization. It will have a direct and serious impact on the token price of the#Defisector, which is worthy of attention!
【1】What is a Wells Notice? It is important to first understand:
"Wells Notice" is a notice sent by the U.S. Securities and Exchange Commission (SEC) to an individual or company, which means that the SEC has completed and discovered the other party's violations and illegal activities, and intends to take further legal action or administrative penalties.
See original
📌#LUNA #LUNC🔥 #USTC
Can Terraform Labs, which has filed for bankruptcy protection, afford the huge fine of $5.158 billion? (Warning at the end of the article 🚨)
Just now,#SECsubmitted a notice to the Delaware Bankruptcy Court, simultaneously requesting that Terraform Labs not be exempted from paying a huge civil penalty of $5.158 billion to the SEC because of its application for bankruptcy protection:
* Illegal proceeds: ≈$4.192 billion
* Administrative fines: ≈$420 million
* Preliminary interest: ≈$546 million
(In addition, the SEC also requires Do Kwon to pay an administrative fine of $100 million, which should actually be $5.2 billion)
Looking back at the SEC v. Terraform Labs/Do Kwon securities fraud case, the defendant applied to the local court for a final jury verdict, and the role of the judge is to guide the jury procedure and interpret the law. Although the jury ultimately found Terraform Labs/Do Kwon guilty, the administrative order to implement the penalty activities still needs to be signed by the judge.
A week has passed, and the order has not been signed. The judge should be hesitant whether the defendant is ready to appeal against this verdict, because so much money is really not available.
(Refer to Ripple Labs' appeal against the SEC's requirement that the company pay a $2 billion fine for its institutional sales of XRP)
But the SEC closed its eyes and said, "They have money," and listed all kinds of bad evidence.
For example, in the legal memorandum of the jury's verdict: "More than $40 billion in market value was almost wiped out overnight, while the defendants made more than $4 billion in ill-gotten gains from their illegal behavior, (and possibly much more)"
There are many more unreasonable evidences like this~
If you are interested or want to know from which angles and logic the SEC accuses crypto projects of illegal activities, then this document is worth a look, (translated) 👇
drive.google.com/file/d/1t6qLqd…
🚨I have a feeling that if the SEC wins the case against Ripple, CoinBase, Terraform, and Uniswap in the future, it will have enough confidence and cases to support its perverted continued intimidation and crackdown on many crypto industry projects!
🚨Many crypto head project teams and CEOs should be careful this year!
$LUNA $LUNC $USTC
-END
Can Terraform Labs, which has filed for bankruptcy protection, afford the huge fine of $5.158 billion? (Warning at the end of the article 🚨)
Just now,#SECsubmitted a notice to the Delaware Bankruptcy Court, simultaneously requesting that Terraform Labs not be exempted from paying a huge civil penalty of $5.158 billion to the SEC because of its application for bankruptcy protection:
* Illegal proceeds: ≈$4.192 billion
* Administrative fines: ≈$420 million
* Preliminary interest: ≈$546 million
(In addition, the SEC also requires Do Kwon to pay an administrative fine of $100 million, which should actually be $5.2 billion)
Looking back at the SEC v. Terraform Labs/Do Kwon securities fraud case, the defendant applied to the local court for a final jury verdict, and the role of the judge is to guide the jury procedure and interpret the law. Although the jury ultimately found Terraform Labs/Do Kwon guilty, the administrative order to implement the penalty activities still needs to be signed by the judge.
A week has passed, and the order has not been signed. The judge should be hesitant whether the defendant is ready to appeal against this verdict, because so much money is really not available.
(Refer to Ripple Labs' appeal against the SEC's requirement that the company pay a $2 billion fine for its institutional sales of XRP)
But the SEC closed its eyes and said, "They have money," and listed all kinds of bad evidence.
For example, in the legal memorandum of the jury's verdict: "More than $40 billion in market value was almost wiped out overnight, while the defendants made more than $4 billion in ill-gotten gains from their illegal behavior, (and possibly much more)"
There are many more unreasonable evidences like this~
If you are interested or want to know from which angles and logic the SEC accuses crypto projects of illegal activities, then this document is worth a look, (translated) 👇
drive.google.com/file/d/1t6qLqd…
🚨I have a feeling that if the SEC wins the case against Ripple, CoinBase, Terraform, and Uniswap in the future, it will have enough confidence and cases to support its perverted continued intimidation and crackdown on many crypto industry projects!
🚨Many crypto head project teams and CEOs should be careful this year!
$LUNA $LUNC $USTC
-END
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📌#FTX #FTT
Several expected events that are good for FTT are here. If you start with:
1. FTX reaches a claim settlement with the IRS;
(The $22 billion fine is reduced to the market's estimated $3-5 billion)
2. The SBF appeals court successfully reduced the sentence;
(The large sentence of 25 years is unlikely)
3. The official clarifies the value of the creditor's FTT token;
(The value of the debt is vague in the revised reorganization plan)
4. Recover more bankruptcy funds and increase creditor bids;
(For example, today's announcement that a batch of locked $SOL tokens will be auctioned, causing the FTT price to rise by more than 20%);
5. Hold a bankruptcy hearing;
(The bankruptcy court will accept and rule on all key issues surrounding the entire FTX Chapter 11 case process, with at least 20 scheduled this year)
6. FTX Update on the next bankruptcy plan
(After the IRS/CFTC claims are settled, the debtor team will release a new plan, including a creditor compensation plan/liquidation procedure or a sale and reorganization?)
7. The official destroyed about 73% of the remaining $FTT tokens in the treasury;
(FTX Digital Markets Ltd in the Bahamas, refer to Voyager, but the probability is small)
8. Understand Binance's trading methods, welcome to add~
🥲Several of them are not the positives that everyone knows, but they will indeed stimulate FTT to pull the market. In short, follow the expected positives, mainly the band, don't fall in love!
-$FTT
Several expected events that are good for FTT are here. If you start with:
1. FTX reaches a claim settlement with the IRS;
(The $22 billion fine is reduced to the market's estimated $3-5 billion)
2. The SBF appeals court successfully reduced the sentence;
(The large sentence of 25 years is unlikely)
3. The official clarifies the value of the creditor's FTT token;
(The value of the debt is vague in the revised reorganization plan)
4. Recover more bankruptcy funds and increase creditor bids;
(For example, today's announcement that a batch of locked $SOL tokens will be auctioned, causing the FTT price to rise by more than 20%);
5. Hold a bankruptcy hearing;
(The bankruptcy court will accept and rule on all key issues surrounding the entire FTX Chapter 11 case process, with at least 20 scheduled this year)
6. FTX Update on the next bankruptcy plan
(After the IRS/CFTC claims are settled, the debtor team will release a new plan, including a creditor compensation plan/liquidation procedure or a sale and reorganization?)
7. The official destroyed about 73% of the remaining $FTT tokens in the treasury;
(FTX Digital Markets Ltd in the Bahamas, refer to Voyager, but the probability is small)
8. Understand Binance's trading methods, welcome to add~
🥲Several of them are not the positives that everyone knows, but they will indeed stimulate FTT to pull the market. In short, follow the expected positives, mainly the band, don't fall in love!
-$FTT
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See original
📌#FTX #FTT $FTT
FTX.COM entity "FTX Digital Markets Ltd" has issued a "Claims Portal User Guide" for FTX international creditor customers
It contains a Chinese claims tutorial, which is very detailed, and tells you what to do next and what steps are still waiting.
I have uploaded it to Google drive, please read it for all Chinese creditors:
drive.google.com/file/d/1oHnJQB…
FTX.COM entity "FTX Digital Markets Ltd" has issued a "Claims Portal User Guide" for FTX international creditor customers
It contains a Chinese claims tutorial, which is very detailed, and tells you what to do next and what steps are still waiting.
I have uploaded it to Google drive, please read it for all Chinese creditors:
drive.google.com/file/d/1oHnJQB…
See original
📌#LUNA #LUNC #USTC
SEC v. Terraform Labs/Do Kwon Securities Fraud Case Latest Development:
👉Since the jury found him guilty, the SEC requested the court to make a final judgment on the case and requested:
① Require the defendants Terraform Labs/Do Kwon to pay civil penalties of US$4 billion and US$100 million respectively;
② Impose an industry behavior ban on the defendants and executives;
③ Require Terraform Labs, which has filed for bankruptcy, to pay the fine in accordance with the court's ruling and not to evade payment through bankruptcy procedures;
👉 Do Kwon applied for defense, saying:
The court should not "take an injunction" against him and require him to "return the illegal gains", but should evaluate whether to impose an appropriate civil penalty on him based on Terraform Labs' arguments and the SEC's burden of evidence;
The case has entered the extension stage again, and Terraform Labs has not yet submitted an appeal document to respond (it is likely to insist on appealing to a higher court later)
$LUNA $LUNC $USTC
SEC v. Terraform Labs/Do Kwon Securities Fraud Case Latest Development:
👉Since the jury found him guilty, the SEC requested the court to make a final judgment on the case and requested:
① Require the defendants Terraform Labs/Do Kwon to pay civil penalties of US$4 billion and US$100 million respectively;
② Impose an industry behavior ban on the defendants and executives;
③ Require Terraform Labs, which has filed for bankruptcy, to pay the fine in accordance with the court's ruling and not to evade payment through bankruptcy procedures;
👉 Do Kwon applied for defense, saying:
The court should not "take an injunction" against him and require him to "return the illegal gains", but should evaluate whether to impose an appropriate civil penalty on him based on Terraform Labs' arguments and the SEC's burden of evidence;
The case has entered the extension stage again, and Terraform Labs has not yet submitted an appeal document to respond (it is likely to insist on appealing to a higher court later)
$LUNA $LUNC $USTC
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📌#FTX #FTT Recent attention:
[1] The progress of FTX's bankruptcy case is currently slow because the IRS is still evaluating the amount of claims against FTX, and there are still 4 months left before the deadline required by the bankruptcy court. (income tax, employment tax and penalties owed from 2018 to 2022)
It is reported that the IRS claim amount has dropped from the initial $44 billion to $24 billion and may drop again to $3 billion to $5 billion (IRS/CFTC). The debtor team requires a quick resolution of this dispute, and the two parties have begun negotiations
Undoubtedly, the IRS claim has undermined FTX's restructuring plan and seriously delayed the time to return creditor customer assets
But fortunately, the IRS is an "administrative claim". According to the "residual property priority" of Chapter 11 of the Bankruptcy Law, before any government and tax authorities receive compensation, the money will be paid to FTX customers first. This has been agreed by the US government, so there is no need to worry that the IRS or CFTC will take away all the creditor's compensation assets;
Note: Only by clearing the obstacles of the IRS can FTX smoothly implement the next bankruptcy plan, including paying creditors an estimated 100% of the compensation funds;
[2] FTX will hold a "comprehensive hearing" at the Delaware Bankruptcy Court at 2 a.m. (Beijing time) on April 25. The specific hearing expectations will be listed the day before the meeting;
[3] FTX Bahamas joint liquidators have transferred all $FTT tokens in the wallet to a new wallet, about 196 million FTT, accounting for 59.55% of the total FTT tokens, worth $249 million.
The intention of this move is unclear. Please pay attention to whether the FTX case library has plans to release relevant liquidation documents #FTT ;
[4] Regarding the "FTX 2.0 restart plan" that everyone has consulted me about the most, the key words have disappeared from the monthly report of FTXCOM/FTXJP. I think it has been cancelled for the time being. Are there any new plans?
Everything still needs to wait until the IRS problem is resolved before the debtor team can release the next new plan;
So for now, I only play FTT as a MEME and completely follow Binance's trading rhythm📈 (high control)
🧙$FTT
[1] The progress of FTX's bankruptcy case is currently slow because the IRS is still evaluating the amount of claims against FTX, and there are still 4 months left before the deadline required by the bankruptcy court. (income tax, employment tax and penalties owed from 2018 to 2022)
It is reported that the IRS claim amount has dropped from the initial $44 billion to $24 billion and may drop again to $3 billion to $5 billion (IRS/CFTC). The debtor team requires a quick resolution of this dispute, and the two parties have begun negotiations
Undoubtedly, the IRS claim has undermined FTX's restructuring plan and seriously delayed the time to return creditor customer assets
But fortunately, the IRS is an "administrative claim". According to the "residual property priority" of Chapter 11 of the Bankruptcy Law, before any government and tax authorities receive compensation, the money will be paid to FTX customers first. This has been agreed by the US government, so there is no need to worry that the IRS or CFTC will take away all the creditor's compensation assets;
Note: Only by clearing the obstacles of the IRS can FTX smoothly implement the next bankruptcy plan, including paying creditors an estimated 100% of the compensation funds;
[2] FTX will hold a "comprehensive hearing" at the Delaware Bankruptcy Court at 2 a.m. (Beijing time) on April 25. The specific hearing expectations will be listed the day before the meeting;
[3] FTX Bahamas joint liquidators have transferred all $FTT tokens in the wallet to a new wallet, about 196 million FTT, accounting for 59.55% of the total FTT tokens, worth $249 million.
The intention of this move is unclear. Please pay attention to whether the FTX case library has plans to release relevant liquidation documents #FTT ;
[4] Regarding the "FTX 2.0 restart plan" that everyone has consulted me about the most, the key words have disappeared from the monthly report of FTXCOM/FTXJP. I think it has been cancelled for the time being. Are there any new plans?
Everything still needs to wait until the IRS problem is resolved before the debtor team can release the next new plan;
So for now, I only play FTT as a MEME and completely follow Binance's trading rhythm📈 (high control)
🧙$FTT
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🚨 $FTT #FTT The largest holding wallet has a "liquidation" transfer
The address marked as "FTX Bahamas Joint Liquidator" has transferred all 195,869,347 FTT to a new wallet
💵About 196 million FTT, accounting for 59.55% of the total FTT tokens, worth $249 million
From:
0x2a4F8d77bAde18256b1BDB3cF8782645037f60d3
to:
0x5C9d457374899D67ff10ff5F3ad66aB53E0FB36B
(Another 1938.3 ETH were transferred)
This is the first official statement since #FTX filed for bankruptcy $FTT tokens are transferred to wallets in large amounts, beware!
etherscan.io/tx/0x2929ea37d…
The address marked as "FTX Bahamas Joint Liquidator" has transferred all 195,869,347 FTT to a new wallet
💵About 196 million FTT, accounting for 59.55% of the total FTT tokens, worth $249 million
From:
0x2a4F8d77bAde18256b1BDB3cF8782645037f60d3
to:
0x5C9d457374899D67ff10ff5F3ad66aB53E0FB36B
(Another 1938.3 ETH were transferred)
This is the first official statement since #FTX filed for bankruptcy $FTT tokens are transferred to wallets in large amounts, beware!
etherscan.io/tx/0x2929ea37d…
See original
Tracking and analyzing the #SEC's proposed lawsuit against Uniswap Labs
📌 #Uniswp #Uni #SEC
Tracking and Analysis #SEC Intended to sue Uniswap Labs
The day before yesterday, SEC sent a Wells notice to Uniswap Labs. The subsequent outcome of this matter may affect the development of the entire crypto Defi field. It intends to plunder the innovation in the DeFi field and threaten decentralization. It will have a direct and serious impact on the token price of the#Defisector, which is worthy of attention!
【1】What is a Wells Notice? It is important to first understand:
"Wells Notice" is a notice sent by the U.S. Securities and Exchange Commission (SEC) to an individual or company, which means that the SEC has completed and discovered the other party's violations and illegal activities, and intends to take further legal action or administrative penalties.
Tracking and Analysis #SEC Intended to sue Uniswap Labs
The day before yesterday, SEC sent a Wells notice to Uniswap Labs. The subsequent outcome of this matter may affect the development of the entire crypto Defi field. It intends to plunder the innovation in the DeFi field and threaten decentralization. It will have a direct and serious impact on the token price of the#Defisector, which is worthy of attention!
【1】What is a Wells Notice? It is important to first understand:
"Wells Notice" is a notice sent by the U.S. Securities and Exchange Commission (SEC) to an individual or company, which means that the SEC has completed and discovered the other party's violations and illegal activities, and intends to take further legal action or administrative penalties.
📌#SBF #FTX #FTT $FTT
Sam Bankman-Fried 认为纽约南区地区法院对其25年的刑期判决不公，已正式向美国第二巡回上诉法院提出上诉。
Sam Bankman-Fried believes that the 25-year sentence handed down by the Southern District of New York is unjust, and he has officially appealed to the United States Court of Appeals for the Second Circuit.
无论如何，SBF都不可能被判无罪释放或大幅减刑，更不可能重归掌控FTX，所以对 $FTT 涨跌并没有任何实质性的挂钩，非利好或利空，大部分情况下都是炒作之下的捕风捉影，希望大家注意风险！
期待你们下一个重要更新，我猜很快了！@FTX_Committee @FTX_Official
Regardless of the outcome, SBF cannot be acquitted or receive a substantial reduction in sentence, nor can he regain control of FTX. So, what does this mean for the price of $FTT ? Well, it's about as relevant as a squirrel on waterskis—pure speculation, folks! Whether it's good news or bad news, it's mostly a bunch of hype and hoopla. Keep your eye on the “prize” and mind the risks! ↓
Looking forward to the next important update. I guess it's coming soon! @FTX_Committee @FTX_Official
Stay tuned for updates!
保持关注更新！
Sam Bankman-Fried 认为纽约南区地区法院对其25年的刑期判决不公，已正式向美国第二巡回上诉法院提出上诉。
Sam Bankman-Fried believes that the 25-year sentence handed down by the Southern District of New York is unjust, and he has officially appealed to the United States Court of Appeals for the Second Circuit.
无论如何，SBF都不可能被判无罪释放或大幅减刑，更不可能重归掌控FTX，所以对 $FTT 涨跌并没有任何实质性的挂钩，非利好或利空，大部分情况下都是炒作之下的捕风捉影，希望大家注意风险！
期待你们下一个重要更新，我猜很快了！@FTX_Committee @FTX_Official
Regardless of the outcome, SBF cannot be acquitted or receive a substantial reduction in sentence, nor can he regain control of FTX. So, what does this mean for the price of $FTT ? Well, it's about as relevant as a squirrel on waterskis—pure speculation, folks! Whether it's good news or bad news, it's mostly a bunch of hype and hoopla. Keep your eye on the “prize” and mind the risks! ↓
Looking forward to the next important update. I guess it's coming soon! @FTX_Committee @FTX_Official
Stay tuned for updates!
保持关注更新！
See original
📌#voyager #VGX $VGX
Voyager Program Administrator Releases: "Creditors' 6th Status Report"
① FTX waives and exempts the loan claims with Voyager, returns the 445 million loan + 5 million US dollar deposit withheld due to the lawsuit, and Voyager is ready to release this money to creditors in the second distribution plan;
② Reached a settlement with the D&O insurance company, creditors can receive no less than 14.35 million US dollars in compensation, which will be distributed to creditors in the second distribution plan;
③ Obtained approximately 677 million US dollars in claims in the litigation process with Three Arrows Capital, but liquidation and distribution will take some time;
PS: No content related to "selling remaining bankruptcy assets" was mentioned
So the story and suspense will continue to be left to the 7th creditor report!
-
Voyager Program Administrator Releases: "Creditors' 6th Status Report"
① FTX waives and exempts the loan claims with Voyager, returns the 445 million loan + 5 million US dollar deposit withheld due to the lawsuit, and Voyager is ready to release this money to creditors in the second distribution plan;
② Reached a settlement with the D&O insurance company, creditors can receive no less than 14.35 million US dollars in compensation, which will be distributed to creditors in the second distribution plan;
③ Obtained approximately 677 million US dollars in claims in the litigation process with Three Arrows Capital, but liquidation and distribution will take some time;
PS: No content related to "selling remaining bankruptcy assets" was mentioned
So the story and suspense will continue to be left to the 7th creditor report!
-
See original
🚨#SEC Ready to sue #Uniswp
The U.S. Securities and Exchange Commission (SEC) has sent a Wells Notice to Uniswap, notifying the company of its intention to sue the company.
UniSwap founder Hayden Adams issued the following statement in response to the SEC's threat of litigation:
"Today Uniswap Labs received a Wells Notice from the SEC.
I'm not surprised. I'm just angry, frustrated, and ready to fight. I believe the products we offer are legal and our job is to be on the right side of history. But for some time now, the SEC has made it clear that it has decided to focus on attacking long-standing, well-intentioned organizations like Uniswap and Coinbase rather than working to develop clear and informed rules. All the while, bad actors like#FTXhave been turned a blind eye. This fight will last for years, and may go all the way to the Supreme Court, with the future of fintech and our industry hanging in the balance. If we unite, we can win"
I believe freedom is worth fighting for. "I think DeFi is worth fighting for."
After #XRP #Ripple , #Coinbase, #KuCoin, the SEC is eager to continue to maintain its muscle in the crypto field💪,
After more than a year of investigation, the SEC finally took action. However, Uni just won the class action lawsuit last year, and the judge stood on the side of UniSwap. What about this time?
It's very interesting, another good show, let's see what will happen next?
-Keep the latest tracking at any time #Uni $UNI
The U.S. Securities and Exchange Commission (SEC) has sent a Wells Notice to Uniswap, notifying the company of its intention to sue the company.
UniSwap founder Hayden Adams issued the following statement in response to the SEC's threat of litigation:
"Today Uniswap Labs received a Wells Notice from the SEC.
I'm not surprised. I'm just angry, frustrated, and ready to fight. I believe the products we offer are legal and our job is to be on the right side of history. But for some time now, the SEC has made it clear that it has decided to focus on attacking long-standing, well-intentioned organizations like Uniswap and Coinbase rather than working to develop clear and informed rules. All the while, bad actors like#FTXhave been turned a blind eye. This fight will last for years, and may go all the way to the Supreme Court, with the future of fintech and our industry hanging in the balance. If we unite, we can win"
I believe freedom is worth fighting for. "I think DeFi is worth fighting for."
After #XRP #Ripple , #Coinbase, #KuCoin, the SEC is eager to continue to maintain its muscle in the crypto field💪,
After more than a year of investigation, the SEC finally took action. However, Uni just won the class action lawsuit last year, and the judge stood on the side of UniSwap. What about this time?
It's very interesting, another good show, let's see what will happen next?
-Keep the latest tracking at any time #Uni $UNI
See original
📌#voyager #VGX #FTX #FTT
FTX agreed to waive and return the $445 million withheld by Voyager Digital due to the loan lawsuit, so Voyager creditors will increase their claims by an additional 20%.
FTX voluntarily gave up this long-disputed loan, apparently in preparation for an early exit from Chapter 11 of bankruptcy.
Since then, the two major US exchanges have no further involvement
The court file is as follows:
restructuring.ra.kroll.com/FTX/Home-Downl…
$VGX $FTT
FTX agreed to waive and return the $445 million withheld by Voyager Digital due to the loan lawsuit, so Voyager creditors will increase their claims by an additional 20%.
FTX voluntarily gave up this long-disputed loan, apparently in preparation for an early exit from Chapter 11 of bankruptcy.
Since then, the two major US exchanges have no further involvement
The court file is as follows:
restructuring.ra.kroll.com/FTX/Home-Downl…
$VGX $FTT
See original
🚨#LUNA #LUNC #USTC
#SEC Allegation of "Terraform and Do Kwon Securities Fraud Case"
＊Jury verdict:
TerraformLabs and its co-founder Do Kwon are guilty!
Responsible for the collapse of LUNA/USTC...
(24-page jury verdict)
＊Judge: No official announcement yet!
＊TerraformLabs:
SEC has no right to sue us, prepare to appeal!
imo: SEC still needs to maintain its winning streak in crypto cases⏰⏰
$LUNA $LUNC $USTC
#SEC Allegation of "Terraform and Do Kwon Securities Fraud Case"
＊Jury verdict:
TerraformLabs and its co-founder Do Kwon are guilty!
Responsible for the collapse of LUNA/USTC...
(24-page jury verdict)
＊Judge: No official announcement yet!
＊TerraformLabs:
SEC has no right to sue us, prepare to appeal!
imo: SEC still needs to maintain its winning streak in crypto cases⏰⏰
$LUNA $LUNC $USTC
See original
☎️Notice #LUNA #LUNC #USTC
#SEC Allegation of "Terraform and Do Kwon Securities Fraud Case" 7th Hearing Second Round Hearing Postponed
Judge Rakoff is busy presiding over another hearing in the Second Circuit (US v. Ajelero case), so he was delayed.
The hearing time will be notified separately!
The jury is accelerating the outcome of the trial opinion!
$LUNA $LUNC $USTC
#SEC Allegation of "Terraform and Do Kwon Securities Fraud Case" 7th Hearing Second Round Hearing Postponed
Judge Rakoff is busy presiding over another hearing in the Second Circuit (US v. Ajelero case), so he was delayed.
The hearing time will be notified separately!
The jury is accelerating the outcome of the trial opinion!
$LUNA $LUNC $USTC
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🚨#SEC Allegation "Terraform and Do Kwon Securities Fraud Case" 7th Hearing
#LUNA #LUNC #USTC
SEC witness Mizrach: Terraform once signed a token trading agreement with Jump Trading at a price of 1LUNA = 40 cents
"Mizrach" is an expert on crypto market micro-institutions
The SEC charged Mizrach $750 an hour for research and $1,000 an hour for testimony, and asked for Terraform's market microstructure analysis and Jump's role.
(The SEC wants to tell the judge that there was collusion between the two to manipulate the price of market tokens)
Mizrach: “Without Jump’s trade, the peg would not have been restored and trading would have been closer to $0.”
(This is enough to prove to the judge and jury that Terraform and Jump Trading jointly manipulated the market - supporting the link)
Judge Rakoff: I'll be sitting on the 2nd Circuit tomorrow
Today's hearing has ended, and no results have been announced. The second round of the final hearing will be held tomorrow in the Second Circuit Court:
*Jury deliberations will begin;
* TerraformLabs and SEC will negotiate and may choose to settle;
* The evidence provided by the SEC has confirmed that the probability of Do Kwon’s guilt is 99%;
See you tomorrow! $LUNA $LUNC $USTC
#LUNA #LUNC #USTC
SEC witness Mizrach: Terraform once signed a token trading agreement with Jump Trading at a price of 1LUNA = 40 cents
"Mizrach" is an expert on crypto market micro-institutions
The SEC charged Mizrach $750 an hour for research and $1,000 an hour for testimony, and asked for Terraform's market microstructure analysis and Jump's role.
(The SEC wants to tell the judge that there was collusion between the two to manipulate the price of market tokens)
Mizrach: “Without Jump’s trade, the peg would not have been restored and trading would have been closer to $0.”
(This is enough to prove to the judge and jury that Terraform and Jump Trading jointly manipulated the market - supporting the link)
Judge Rakoff: I'll be sitting on the 2nd Circuit tomorrow
Today's hearing has ended, and no results have been announced. The second round of the final hearing will be held tomorrow in the Second Circuit Court:
*Jury deliberations will begin;
* TerraformLabs and SEC will negotiate and may choose to settle;
* The evidence provided by the SEC has confirmed that the probability of Do Kwon’s guilt is 99%;
See you tomorrow! $LUNA $LUNC $USTC
See original
See original
📌#SEC Accuse Terraform and Do Kwon of securities fraud"
Review of the 6th hearing:
#LUNA #LUNA #USTC
* [Judge: The trial of the SEC v. Terraform Labs case will end tomorrow]
Whether the final verdict will be announced tomorrow depends on the jury (it may take some time)
* [New evidence from the SEC plunges Do Kwon into the abyss]
The judge questioned: "Why did Do Kwon run away?"
SEC presented evidence: Do Kwon owns 92% of Terra's shares, and South Korea charged him after the collapse, so this is why he fled to Montenegro;
SEC showed the court Do Kwon's tweets: ironic answers to investors + UST prices will "self-repair" and guarantee that they will return to the peg of $1, thereby misleading investors;
SEC seems to be biased in blaming all this on Do Kwon;
*【Witness points out that Terraform and JUMP jointly manipulated the market】
New evidence pointed out by former Jump Trading employees shows that Terraform #LUNA colluded with Jump Trading to manipulate the price of UST (according to reports: Jump made a profit of $1 billion)
So the SEC fully believes that: Terraform Labs and Do Kwon fraudulently concealed Jump Trading’s role in manipulating UST;
Tomorrow’s last hearing will be exciting
Looking forward to your likes, comments and reposts~👍
Review of the 6th hearing:
#LUNA #LUNA #USTC
* [Judge: The trial of the SEC v. Terraform Labs case will end tomorrow]
Whether the final verdict will be announced tomorrow depends on the jury (it may take some time)
* [New evidence from the SEC plunges Do Kwon into the abyss]
The judge questioned: "Why did Do Kwon run away?"
SEC presented evidence: Do Kwon owns 92% of Terra's shares, and South Korea charged him after the collapse, so this is why he fled to Montenegro;
SEC showed the court Do Kwon's tweets: ironic answers to investors + UST prices will "self-repair" and guarantee that they will return to the peg of $1, thereby misleading investors;
SEC seems to be biased in blaming all this on Do Kwon;
*【Witness points out that Terraform and JUMP jointly manipulated the market】
New evidence pointed out by former Jump Trading employees shows that Terraform #LUNA colluded with Jump Trading to manipulate the price of UST (according to reports: Jump made a profit of $1 billion)
So the SEC fully believes that: Terraform Labs and Do Kwon fraudulently concealed Jump Trading’s role in manipulating UST;
Tomorrow’s last hearing will be exciting
Looking forward to your likes, comments and reposts~👍
See original
#LUNA #LUNC #USTC
🚨 #SEC Accuses Terraform and Do Kwon of securities fraud case”
[The 6th hearing is in progress]
SEC Lawyer: What happened next?
Curran: Do Kwon said I was going to be demoted because my advice was a crazy quote or something.
SEC lawyer: No more questions
↓Judge Rakoff: Cross-examination↓
Terraform Lawyer: You are interested in stablecoins, right?
Curran: I want a stable job. Signing a contract is troublesome.
Attorney Do Kwon: You have met with the SEC several times, right?
Curran: Yes.
Attorney Do Kwon: You refuse to meet with us?
Curran: Correct
Judge Rakoff: We're going to take a break. (Adjournment for now, will come back later)
///
If you don’t understand, please read the previous article
Will continue to update, next article….
🚨 #SEC Accuses Terraform and Do Kwon of securities fraud case”
[The 6th hearing is in progress]
SEC Lawyer: What happened next?
Curran: Do Kwon said I was going to be demoted because my advice was a crazy quote or something.
SEC lawyer: No more questions
↓Judge Rakoff: Cross-examination↓
Terraform Lawyer: You are interested in stablecoins, right?
Curran: I want a stable job. Signing a contract is troublesome.
Attorney Do Kwon: You have met with the SEC several times, right?
Curran: Yes.
Attorney Do Kwon: You refuse to meet with us?
Curran: Correct
Judge Rakoff: We're going to take a break. (Adjournment for now, will come back later)
///
If you don’t understand, please read the previous article
Will continue to update, next article….
See original
#LUNA #LUNC #USTC
🚨#SECcharges Terraform and Do Kwon with securities fraud case”
[The 6th hearing is in progress]
SEC Attorney: You're asking here whether there are other market makers besides Jump - what do you mean?
Curran: The key to stablecoins is the liquidity of the peg. It seemed like a problem at the time...Do Kwon told me Jump was deploying $100 to $200 million
Judge Rakoff: I have something that I have to deal with in court, let's take a break.
[Jury withdraws]
Defense attorney: We have objections to the court's questions.
Judge Rakoff: We now have a witness who can only speak from an artistic perspective...I reject your objection in its entirety.
They are back.
SEC Attorneys: Read your message here. You stated that you had a call with Do - was this a voice call?
Curran: Yes. “We will redeploy capital from the Stabilization Reserve, the Special Drawing Rights,” I wrote.
SEC ATTORNEY: In layman’s terms, what does that mean?
Curran: Companies are providing funding to Jump.
SEC ATTORNEY: OK, let's take a look at your phone records. It says Do says, what?
Curran: The peg is widening swap spreads.
SEC ATTORNEY: Here he said $100 million, not $200 million - why?
Curran: changed
SEC Lawyers: Let’s pay attention to these news, please read them
Curran: I responded to the message about the death spiral, it's not an apples to apples comparison
SEC Lawyer: What do you mean?
Curran: I'm not sure. I asked the team
Curran: I asked Do Kwon if we could mention Jump in our response. He said no.
SEC Lawyer: Did you say why?
Curran: No.
SEC Lawyer: Do you accept it?
Curran: Yes. In any professional environment, there must be a level of trust
///
If you don’t understand, please read the previous article
Will continue to update, next article….
🚨#SECcharges Terraform and Do Kwon with securities fraud case”
[The 6th hearing is in progress]
SEC Attorney: You're asking here whether there are other market makers besides Jump - what do you mean?
Curran: The key to stablecoins is the liquidity of the peg. It seemed like a problem at the time...Do Kwon told me Jump was deploying $100 to $200 million
Judge Rakoff: I have something that I have to deal with in court, let's take a break.
[Jury withdraws]
Defense attorney: We have objections to the court's questions.
Judge Rakoff: We now have a witness who can only speak from an artistic perspective...I reject your objection in its entirety.
They are back.
SEC Attorneys: Read your message here. You stated that you had a call with Do - was this a voice call?
Curran: Yes. “We will redeploy capital from the Stabilization Reserve, the Special Drawing Rights,” I wrote.
SEC ATTORNEY: In layman’s terms, what does that mean?
Curran: Companies are providing funding to Jump.
SEC ATTORNEY: OK, let's take a look at your phone records. It says Do says, what?
Curran: The peg is widening swap spreads.
SEC ATTORNEY: Here he said $100 million, not $200 million - why?
Curran: changed
SEC Lawyers: Let’s pay attention to these news, please read them
Curran: I responded to the message about the death spiral, it's not an apples to apples comparison
SEC Lawyer: What do you mean?
Curran: I'm not sure. I asked the team
Curran: I asked Do Kwon if we could mention Jump in our response. He said no.
SEC Lawyer: Did you say why?
Curran: No.
SEC Lawyer: Do you accept it?
Curran: Yes. In any professional environment, there must be a level of trust
///
If you don’t understand, please read the previous article
Will continue to update, next article….
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