Terra faces litigation from South Korean investors over failed UST investment

After the abrupt crash of Terra’s UST last week, a popular South Korea-based law firm, LKB & Partners, is set to sue Do Kwon on behalf of South Koreans who invested in the asset, according to local media reports.  The law firm is applying to the Seoul Metropolitan Police Agency to seize all Do Kwon’s…

South Korean lawmaker suggests summoning Do Kwon to the national assembly

Yun Chang-hyeon, a lawmaker in South Korea’s ruling party, People’s Power, has suggested summoning Terraform Labs’ founder Do Kwon to a parliamentary hearing. A report unveiled this news today, noting that the legislators plan to summon Kwon over the collapse of the firm’s stablecoin and crypto projects. The company’s TerraUSD (UST) and Terra (LUNA) projects…

Customers sue Coinbase for promoting and trading the GYEN token

Coinbase customers have sued the exchange over the promotion and trading of GYEN, a stablecoin that crashed. A report unveiled this news earlier today, noting that the lawsuit targets both Coinbase and the issuer of the GYEN stablecoin, which turned out to be anything but stable. According to the report, Coinbase’s customers filed a class-action…

US prosecutors recommend minimum 1 year prison sentence for BitMEX co-founder Arthur Hayes

U.S. Prosecutors have filed a sentencing recommendation in the case against BitMEX co-founder Arthur Hayes seeking minimum one-year imprisonment. The prosecutors submitted the sentence recommendation to U.S. District Judge John Koeltl in Manhattan on May 12. This suggestion comes after Hayes pled guilty to violating the U.S. bank secrecy law. His sentencing is set for…

US Court asks defunct crypto exchange to refund Bitcoin

A federal jury in Georgia has ordered now-defunct crypto exchange CampBX to refund the Bitcoin (BTC) it took from customers. The order comes more than four years after the exchange stopped operating, according to a WSBTV report. CampBX was the first crypto exchange in the U.S., with over 70,000 users trading Bitcoin on the exchange…

Colorado Senate Committee considers using crypto to raise state capital

Colorado senators are considering a bill “to study the feasibility of using security token offerings for state capital financing” entitled “Security Token Offerings State Capital Financing.” A security token offering creates fractional tokens of an underlying asset without selling the asset directly. The bill looks to explore a new method of state capital financing, as…

Bitfinex appoints Giles Dixon to help streamline regulatory approval

Leading cryptocurrency exchange Bitfinex has hired Giles Dixon as the Head of Licensing. Bitfinex announced this news on May 4, noting that Dixon joins it with a lot of knowledge in the regulatory and compliance sector. Before joining Bitfinex, Dixon served as the Senior Manager at Grant Thornton LLP in Toronto. According to the announcement,…

BioSpace Says Verseon Is “Changing the Paradigm of Drug Discovery”

A BioSpace article recently credited Verseon, a pharmaceutical company, for fundamentally changing the pharmaceutical industry’s drug-discovery process. Verseon has devised a novel approach that expands the universe of potential drug candidates to a billion trillion trillion possibilities. Fremont,United States – May 6, 2022 /PressCable/ — Fremont, Calif.—BioSpace recently hailed Verseon for fundamentally changing the pharmaceutical…

Nampa ID Low ARP Pawn Loans On Designer Jewelry/Luxury Brand Purses Launched

Idaho-based Pawnshop, Idaho Pawn and Gold has announced low-rate pawn loans on designer handbags, clutches, and jewelry at its Meridian and Nampa locations. Local clients interested in buying or selling luxury items are encouraged to contact the shop by calling 208-615-8714. Boise,United States – May 6, 2022 /PressCable/ — The shop’s new locations give Idaho…

Employee Retention Credit Tax Rebate Eligibility/Claim Amounts Report Launched

A new in-depth report launched by Scott Hall explains what the ERTC program is, and how employers can determine if their business is eligible for a tax rebate. New York,United States – May 6, 2022 /NewsNetwork/ — After the CARES Act of 2020 was passed, creating the Employee Retention Tax Credit (ERTC) and Paycheck Protection…