The radical Web3 event is back in Lisbon, May 28-30, with NFTs, Meme Tokens, Ordinals, AI Movie and Beach Parties. Where the future of Digital Culture and Web3 converge Non Fungible Conference’s DNA has always been about pushing boundaries and reshaping the Web3 event format. Gathering leaders and artists, mixing crowds, merging Web2 and Web3 … Continued
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Aimed at boosting the Ethereum ecosystem in Bulgaria and promoting Sofia as a thriving Web3 hub, ETHSofia is gearing up for its inaugural edition on October 17-19 at Sofia Tech Park. Carrying out its mission to unify all crypto developers, investors, and enthusiasts alike, the ETHSofia team now presents the first installment of speakers and … Continued
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BloFin, a fastest-growing exchange platform, proudly announces its platinum sponsorship of TOKEN2049 Dubai and its exclusive SideEvent: WhalesNight AfterParty 2024. Following our previous role as the Gold Sponsor at TOKEN2049 Singapore, the BloFin team, now the Platinum Sponsor of TOKEN2049, continues to shine on this stage with its enthusiasm and original dedication to contributing to … Continued
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Web3 technologies are gaining momentum, aided by the most recent Bitcoin halving, attracting billions of users to start exploring decentralized technologies. So.Social’s recently released new set of social protocols are not just another social network like Friend.Tech or Farcaster, but an innovative blend of decentralized social networks, assets, and cutting-edge AI technologies. Let us explore … Continued
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The United States Securities and Exchange Commission has filed a lawsuit against Terraform Labs and Do Kwon. They have demanded that the company pay billions in civil fines and disgorgement. The SEC filed a petition as a response to a judgment in a civil case, with the aim of holding Terraform Labs (and its co-founder Do Kwon) responsible for alleged violations.
Disgorgement and civil penalties: The Securities and Exchange Commission has ordered that Terraform Labs and Kwon repay approximately $4.7 billion as disgorgement and interest before judgment. Disgorgement refers to the repayment of earnings obtained through dishonest methods, while prejudgment interests are a compensation for time value of money. The Securities and Exchange Commission has also requested a total civil penalty of $520,000,000, Terraform Labs is responsible for $420,000,000 and Kwon for $100,000,000.
Terraform Labs & Kwon both have submitted their briefs to the civil case in which they suggest several possible solutions. Terraform Labs proposed a civil penalty maximum of $3.5 Million, while Kwon suggested an amount of $800,000. The SEC has proposed much higher sums than these estimates.
Securities and Exchange Commission is considering additional measures to prevent future violations, on top of the civil penalties and disgorgement already imposed. The Securities and Exchange Commission (SEC) has asked that Kwon not be allowed to act as an officer or a director of a security company. The Securities and Exchange Commission also wants to obtain a "conduct based injunction", which would guarantee that Terraform Labs and Kwon will not commit similar breaches in the future.
SEC enforcement has been demonstrated by the SEC's filing of a civil penalty and disgorgement request against Terraform Labs. This action shows the regulatory agency’s commitment to protecting investors and prosecuting anyone who violates securities laws. The Securities and Exchange Commission (SEC), by ensuring that people and companies are held accountable for their actions, strives to maintain the integrity of financial markets and encourage fair practices.
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CoinEx, a leading global crypto exchange in the world, has announced that this week it will auction off the “epic sat,” which is the first satoshi mined by ViaBTC during the fourth bitcoin halving. The auction will be priced in BTC with a minimum bid of 1 BTC. ViaBTC, as one of the leading Bitcoin … Continued
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OverProtocol, a Layer 1 blockchain network, announced the launch of an airdrop event in partnership with OKX, a leading Web3 technology company. OverProtocol is a new Layer 1 blockchain network scheduled for a Q2 mainnet launch. Its main feature is lightweight nodes that empower personal computers, enabling anyone to run a node on their PC … Continued
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HeLa Labs, the first modular Layer-1 blockchain powered by a fiat-backed stablecoin for real-world adoption, has announced the launch of its two incentivized testnet platforms – Atlantia and StableHodl. Since HeLa’s launch, it has introduced substantial enhancements to the existing blockchain landscape. With a core mission of connecting Web3 technology with real-world requirements, HeLa delivers … Continued
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