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$125.85ATH Change
-100%ATH Date
Mar 31st, 2022Total Value Locked (TVL)
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Weekly Reports: A Deep Dive into Crypto and NFT alphas
If you're looking to keep up with the fast-moving world of crypto and NFTs, The Alpha Report has got you covered.
Our weekly updates are put together by folks deep in the crypto scene, giving you a clear picture of what's happening without overwhelming you.
Our weekly updates are put together by folks deep in the crypto scene, giving you a clear picture of what's happening without overwhelming you.
To Watch This Week
AIRDROPS + ALPHATerra Classic (Wormhole) News
Mar 8, 2024
Law and Order
US to Challenge Extradition of Terra Founder Do Kwon to South Korea
U.S. prosecutors plan to challenge a decision by Montenegro's High Court to extradite Terra founder Do Kwon to his native South Korea. "The United States continues to seek Kwon’s extradition in accordance with relevant international and bilateral agreements and Montenegrin law," the Justice Department said in a statement to news outlet Bloomberg. Earlier this week, the High Court of Montenegro ruled that Do Kwon could be extradited to South Korea upon completion of his jail sentence at Spuž pris...
Mar 7, 2024
Law and Order
Terra Founder Do Kwon Cleared for Extradition to South Korea: Report
A judge has ruled that Terra founder Do Kwon can be extradited to his native South Korea upon serving his jail sentence at Spuž prison near Podgorica, according to local media. Montenegro's High Court announced the news to local publication Pobjeda, following the Court of Appeals' decision to reject a request to extradite him to the U.S. Since his arrest and sentencing in Montenegro on charges of using a forged passport, Do Kwon has been at the centre of a jurisdictional tug-of-war between the U...
Mar 5, 2024
Law and Order
Terraform Labs Hits Back at SEC 'Government Overreach' Over Special Counsel Payment
Terraform Labs has pushed back against the U.S. Securities and Exchange Commission's (SEC) objection to a $166 million retainer paid to law firm Dentons. In a court filing, the bankrupt crypto firm called the SEC's objection a "troubling example of government overreach," arguing that its motive for doing so was "to disadvantage and distract and adversary on the eve of trial." Terraform Labs argued that the court should overrule the SEC's objections, which it described as "replete with misapplica...
Feb 5, 2024
Law and Order
Terraform Labs Former CFO Extradited From Montenegro to South Korea
Terraform Labs' former chief financial officer, Han Chang-joon, has been extradited from Montenegro to South Korea. In an official announcement referring to Han Chang-joon by his initials "J.C.H.", Montenegro's Ministry of Justice stated that he had been handed over by officials of the NCB Interpol Podgorica and the Special Police Unit to the "competent judicial and police authorities of South Korea." The Ministry of Justice noted that the former Terraform Labs CFO faces charges in South Korea r...
Jan 12, 2024
Law and Order
Terra Co-Founder Do Kwon Requests SEC Trial Delay So He Can Attend
Terra co-founder Do Kwon has asked that a U.S. court delay the Securities and Exchange Commission (SEC) trial against him, pending his extradition from Montenegro. In a filing first seen by Inner City Press, lawyers for Kwon said that with his extradition not likely to take place until February or March, an adjournment to mid-March "would provide a realistic possibility for Mr. Kwon to attend." Should the court decline to push back the date of the trial, Kwon's lawyers added, the Terra co-founde...
Nov 27, 2023
Markets
Terra Ecosystem's LUNA, LUNC Surge By Double-Digits
Terra ecosystem coins LUNA and Terra Luna Classic (LUNC) have surged by double-digits over the past day. Per data from CoinGecko, LUNA is up 19.1% on the day to trade at around $0.83 at time of publication, while LUNC is up by a massive 39.6% in the past 24 hours, currently trading at $0.00011267. The price rally comes on the heels of the injection of $15 million into the Terra DeFi ecosystem by Terraform Labs, a move that it claimed "solves the cold start problem for the Terra ecosystem." The l...
Apr 25, 2023
Business
Terra Co-Founder Daniel Shin Indicted in South Korea: Report
Terraform Labs co-founder Daniel Shin was among ten people indicted on multiple charges in South Korea on Tuesday, according to a report. Shin and seven others were charged with illegal trading, while another two people were indicted for breach of trust. Prosecutors said at a press briefing that all those concerned are linked to Terra, Bloomberg reported. Officials said they have already frozen 246.8 billion won ($184.7 million) in assets from the people indicted. Shin co-founded Terraform Labs...
Feb 10, 2023
Investigations
Terra May Be at Risk Again—But This Time Is Different
The $60 billion implosion of the Terra ecosystem last May exposed cracks in the foundations of the crypto industry and kickstarted a year of cascading financial crises that have yet to relent. Now, in the ashes where Terra once stood, another controversy is bubbling—one offering potential warning signs for the broader crypto landscape. The matter concerns Terra Classic (LUNC)—the Cosmos-based network born out of the collapsed Terra ecosystem—and Allnodes, a major staking platform currently inte...
Jan 13, 2023
Coins
Binance to Support Terra Classic Upgrade Eliminating Re-Minting of Burnt LUNC Tokens
Terra Classic (LUNC), the project born out of the collapsed Terra ecosystem, is set to undergo a crucial upgrade on Saturday, with crypto exchange Binance today confirming its support for the upgrade. The upgrade is a result of the Terra Classic community voting to pass the governance proposal 11242 to eliminate the re-minting of a portion of the burnt LUNC tokens and will occur at at epoch 15,029, or approximately at 04:50 UTC on Saturday. “Burning” a token means sending it to a cryptocurrency...
Oct 31, 2022
Business
Terra Co-Founder Do Kwon Faces $57M Class-Action Lawsuit in Singapore
Terraform Labs CEO and co-founder Do Kwon faces yet another legal battle—this time in a Singapore court, which is set to hear a class-action lawsuit filed on behalf of more than 350 international investors. They claim to have lost about $57 million in the collapse of the algorithmic stablecoin TerraUSD (UST) and its ecosystem, according to a Wall Street Journal report. The legal claim states that the UST stablecoin, being pegged 1:1 to the U.S. Dollar, was designed to act as a store of value and...
Sep 12, 2022
Markets
Terra Falls Back Down to Earth: LUNA Sinks 38% From Recent High
Terra’s LUNA mooned late last week, as the rebooted version of the crypto token surged 247% early on Friday. But while the token has still picked up massive value over the last week, the ascent has stopped: now it’s down by more than a third from its recent peak. At a current price of $4.17 per coin, LUNA has dropped a total of 38% from its Friday peak of $6.72, per data from CoinGecko. That price was the highest price seen for LUNA since June 1, shortly after the second-generation coin launched...
Jul 22, 2022
Business
South Korean Authorities Widen Terra Probe as Co-Founder Daniel Shin's Home Raided
A probe into possible illegal activity behind the algorithmic stablecoin TerraUSD (UST) and the affiliated LUNA token has deepened with a raid on the Seoul home of the firm’s co-founder Daniel Shin, according to a Bloomberg report citing local media. Investigators also reportedly visited the office of the mobile payment app Chai, which was founded by Shin in 2019. Chai has been marketed as the first mobile payments app to utilize the Terra blockchain to enable anyone with a bank account to make...
Jun 23, 2022
Business
Terra's Do Kwon: 'There Is a Difference Between Failing and Running a Fraud'
Do Kwon, the co-founder of Terraform Labs, said that he was “devastated” by last month’s collapse of the TerraUSD (UST) stablecoin and its sister token LUNA, expressing his hope that thousands of investors who have been affected by the Terra ecosystem's implosion are "taking care of themselves." Kwon also claimed that he had personally lost nearly all his net worth in Terra’s crash, while also hitting back at claims that the project was a “fraud.” “I made confident bets and made confident statem...