unisalmoncorn

🚨 Terraform Labs Bankruptcy Update 🚨 - The court is treating LUNC and UST losses on equal terms, with no special priority for smaller investors. - Despite 6.8T LUNC across 5M+ wallets, only 318 votes were cast, with very low participation. - SEC Settlement: $4.4B claim fixed, funds will be distributed to creditors. SEC will not receive direct payment. - Beltran Claims: Classified as secured claims by Singapore court, these creditors will receive priority payments. - Crypto loss claims will be evaluated through procedures. The plan has been approved and implementation has started. 📌 We’ll keep following developments in the Terra ecosystem! #LUNC #USTC #TerraClassic #Blockchain #Crypto #LUNCcomminity

Just finished reading the SEC settlement order from December 20th on Luna. The order exposes a common practice in the crypto industry: float the price with artificial buying—thereby misleading the public. During the UST de-peg crisis, Tai Mo Shan purchased over $20 million worth of UST to artificially stabilize its price, misleading investors into believing the algorithmic stabilizing mechanism was functioning as advertised. This conduct caused widespread misperception about the soundness of Terraform’s ecosystem. Tai Mo Shan made over $73 million in profit

Dokwon will coming home soon. #FreeDoKwon. TFL agreed to pay $4.4Billion

Chris Amani paid himself millions of dollars from victims' funds, while TFL made $0 in profit. Great work, very legitimate "salary".

Right before Terraform Labs filed for bankruptcy, Chris Amani paid himself millions of dollars for his "key employee" salary. Absolutely disgusting - those funds are supposed to go to UST victims via the SEC fair fund - instead, the scammer kept it for himself. Claw it back.

So this dude first promised to pay back small UST victims from the LFG fund, then delayed the payout for months, then refused to pay. Now we find out right before Terra filed for bankruptcy, he assigned himself millions of dollars in salary. All from victims' money. Jail, now.

8 million US dollars collected by Chris Amani, the Terra scammer who refused to pay out small holders from the LFG fund. Now we know where he wanted the money to go... Absolutely disgusting, hope this is all clawed back by the trustees.

🚨”Anybody who got vaccinated doesn't want to face the fact that maybe they've got a ticking time-bomb (in them)." Senator Ron Johnson. Pls share. sadly, he’s right. My fam had two healthy friends die within 24 hours of each other suddenly. Last week.

The secret Jump bailout, where Do Kwon lied about UST's demand being organic, changed the course of history, creating the UST bubble and destroying thousands of people's lives. Posted by our insiders years ago, it's all finally confirmed in court documents. Send Kanav to jail.

Wow. Categorical confirmation that Do Kwon stole billions from the people.

For months, Do Kwon was sitting free in his luxury Singapore apartment, mocking us victims on Twitter. Now he's rotting in a jail cell, and the US government is demanding a $5,000,000,000 fine from him for the Terra scam and the lives it destroyed. Beautiful justice.

Absolutely disgusting. Along with the rest of the shady TFL accounting, Chris Amani pulled out $3,600,000 as a year's salary for himself, money that should have gone to victims of the UST scam. What a pathetic individual.

#SEC seeks $5.3 billion against TerraformLabs & DoKwon after fraud verdict: - Jury finds Terraform & Kwon liable for deceptive practices. - SEC requests $4.7B in disgorgement and interest, plus $520M in civil penalties. - In response, Terraform proposes a $3.5M penalty, Kwon just $800K. Case proceedings in U.S. District Court, Southern District of New York.

Original source from the court docket:

NEW: After beating Terra and Do Kwon in court, the SEC is seeking $4.2 BILLION in disgorgement against the company AND seeking a $420 million and a $100 million civil penalty for TFL and Kwon to pay, respectively

@lyvidian1 Jump took around $1.4b from the LFG fund and refused to provide trade logs for how they deployed it. The SEC alleges that Do Kwon embezzled a portion of his own share, and he reneged on his promise of refunding small holders with the remaining funds.

It was a hard fight, but incredibly happy to see the Terra fraud formally proven in a court of law. Now it's time for jail time for Do Kwon, Kanav Kariya, Bill DiSomma, Chris Amani, and everyone else involved with the Terra scam, as well as clawbacks and restitution for victims.

@spreekaway @KEmmra Dude went from calling everyone poor to looking like he just escaped a civil war and is heading to a refugee camp

Footage of Do Kwon today

Bribery does wonders