{
}
Outgoing SEC Chair Gary Gensler has differentiated Bitcoin from other cryptocurrencies, suggesting it could evolve into a valuable asset akin to gold, despite its speculative nature. He emphasized that other digital assets must demonstrate real use cases to survive, while continuing to criticize the crypto industry for its prevalence of bad actors. Gensler, who has never owned Bitcoin or any cryptocurrency, is set to resign next week as the SEC faces a regulatory shift under a new administration.
Swiss digital asset banking group Sygnum has raised $58 million in a strategic growth round, achieving a valuation exceeding $1 billion. The funding, led by Fulgur Ventures, will support Sygnum's expansion into EU/EEA markets and its regulated presence in Hong Kong, while the bank manages over $5 billion in client assets.Despite this success, co-founder Mathias Imbach warns that Switzerland is losing its competitive edge in the financial sector, emphasizing the need for continuous innovation. Sygnum also made history by issuing a $50 million Bitcoin-backed loan to crypto lender Ledn, marking a significant milestone in regulated banking.
Do Kwon, co-founder of Terraform Labs, is set to stand trial in the US starting January 26, 2026, following his extradition from Montenegro. He faces eight criminal fraud charges linked to the 2022 collapse of the TerraUSD stablecoin and LUNA token, with a potential maximum sentence of 130 years in prison if convicted.
Terra Luna Classic (LUNC) is undergoing significant upgrades, including alignment with the Cosmos ecosystem and enhancements to dApp development, while community-led burn campaigns have already eliminated 400 billion LUNC tokens. Despite these advancements, LUNC's price has dropped 15% over the past week, trading at $0.0001016, amid ongoing uncertainties related to Do Kwon's legal challenges. Upcoming governance votes and a mainnet upgrade scheduled for February aim to further improve network efficiency and security.
The catastrophic collapse of Terraform Labs' ecosystem in May 2022 resulted in a staggering $40 billion loss, primarily due to the failure of its algorithmic stablecoin, TerraUSD (UST), and its sister token, LUNA. Do Kwon, co-founder of Terraform Labs, faces multiple criminal charges, including fraud, and has pleaded not guilty. His trial is set for January 26, 2026, amid ongoing legal battles and civil lawsuits, highlighting the vulnerabilities in the crypto market and the need for regulatory scrutiny.
Outgoing SEC Chair Gary Gensler has warned that most cryptocurrency projects, including XRP, are likely to fail due to regulatory challenges and bad actors in the industry. He emphasized the need for stricter regulations on altcoins and intermediaries, while acknowledging the SEC's efforts against firms like Ripple and Binance. As he prepares to leave, the SEC is set to file its opening brief in the ongoing SEC v Ripple case by January 15, marking a pivotal moment in the agency's regulatory approach.
Gary Gensler, the SEC Chair, described the crypto industry as a “Wild West” during his tenure, emphasizing enforcement against bad actors and filing over 100 cases. He highlighted the SEC's mission to protect investors and ensure market transparency, while also addressing climate risk disclosures. With Gensler set to step down in 2025, Paul Atkins has been nominated as his successor, potentially signaling a shift towards a more lenient regulatory approach for digital assets.
Do Kwon's fraud trial is set for January 2026, delayed due to the complex review of six terabytes of evidence, including encrypted devices from his extradition. Kwon, co-founder of Terraform Labs, faces multiple charges linked to the $40 billion TerraUSD collapse, impacting over a million victims globally. The case could establish a precedent for crypto fraud litigation, with the next status conference scheduled for March 6, 2025.
South Korea is poised to ease its restrictions on institutional crypto trading, allowing access to local exchanges for non-profit organizations as part of a broader effort to support the crypto sector. This shift follows the enactment of the Virtual Asset User Protection Act, aimed at enhancing investor safeguards and combating crypto crime, including severe penalties for scams exceeding $4 million. However, recent political turmoil and the declaration of martial law have stalled critical reforms, including the legalization of securities token offerings and the introduction of real-name corporate accounts.
The collapse of the Terra crypto ecosystem in 2022 may have affected over 1 million victims, as alleged in recent court documents regarding founder Do Kwon's case. Kwon, who pleaded not guilty to multiple U.S. criminal charges including fraud, is accused of misleading investors about the functionality of Terra's products, leading to a $40 billion loss. Authorities claim that the UST stablecoin's failure to maintain its dollar peg triggered the ecosystem's rapid downfall.
Do Kwon
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Gensler distinguishes Bitcoin from other cryptocurrencies as he departs SEC
21:07 14.01.2025
Sygnum achieves unicorn status with 58 million dollar funding round
United States Dollar
Sygnum Bank AG
PostFinance Fonds 3
HKG
CAN
CHE
USA
Do Kwon
Mathias Imbach
Show more
11:00 14.01.2025
do kwon trial set for january 2026 following extradition to us
18:55 13.01.2025
terra luna classic developments drive innovation amid market uncertainty and legal challenges
03:07 13.01.2025
do kwon faces trial in 2026 for terra ecosystem collapse and fraud
Maple Finance USD
USA
MNE
KOR
Stacy Elliott
Ryan Ozawa
Jayendra Jog
Sid Powell
Do Kwon
Mat Di Salvo
Show more
19:37 11.01.2025
Gensler warns of crypto project failures amid regulatory challenges and legal battles
Coinbase Global, Inc.
Ripple USD USD
USA
Gary Gensler
Do Kwon
Sam Bankman-Fried
David Gurarie
Brad Garlinghouse
Jay Clayton
Show more
01:14 10.01.2025
Gary Gensler reflects on crypto regulation before stepping down as SEC Chair
United States Dollar
USA
Changpeng Zhao
Gary Gensler
Do Kwon
Sam Bankman-Fried
Paul Atkins
Jay Clayton
Show more
20:54 09.01.2025
do kwon fraud trial delayed to 2026 amid evidence review challenges
08:16 09.01.2025
south korea plans to ease institutional crypto trading restrictions amid reforms
12:32 08.01.2025
do kwon pleads not guilty as terra collapse impacts over one million victims
22:05 07.01.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Finance Mergers & Acquisitions
Global Financial Events
Market Analysis and Predictions
Industry Mergers & Acquisitions
Banking Regulations
Retail and Consumer Goods
Financial Scams and Security
CEO Changes
Global Trade Developments
Energy Sector Developments
Central Bank Actions
Supply Chain Management
Startups & Entrepreneurship
Government Policies
Hedge Funds & Private Equity
AI Innovations
Private Equity Deals
Countries:
Companies:
Barclays PLC
Tesla, Inc.
JPMorgan Chase & Co.
Bank of America Corporation
NVIDIA Corporation
The Goldman Sachs Group, Inc.
Wells Fargo & Company
UBS Group AG
Apple Inc.
UniCredit S.p.A.
Commerzbank AG
Amazon.com, Inc.
Deutsche Bank RV Global PP
Banco BPM S.p.A.
Citigroup Inc.
Credit Suisse Real Estate Fund Siat
Morgan Stanley
BNP Paribas SA
Google Inc.
Capital One Financial Corporation
Currencies:
United States Dollar
Euro
Indian Rupee
Swiss Franc
Chinese Yuan
British Pound Sterling
Hong Kong Dollar
Japanese Yen
Danish Krone
Australian Dollar
United Arab Emirates Dirham
Vietnamese Đồng
Swedish Krona
Canadian Dollar
Singapore Dollar
South Korean Won
Russian Ruble
Ghanaian Cedi
Turkish Lira
Malaysian Ringgit
People: