China News Today Official TheBitTimes.com

Terra Luna Classic 800 Million USTC On Ozone Protocol Chain Ex-Terra Rebels developer group member Vegas submitted a governance proposal to the Commonwealth forum for discussion. He asserts 800 million USTC on-chain funds to be returned to the Terra Luna Classic community pool as the Ozone Protocol project is not actively following the proposed development plan. advertisement “To facilitate this, we ask the community fund to support us and underwrite Ozone indefinitely, unless a counter-proposal is passed to remove the said underwriting funds.” According to the proposal, the Ozone protocol was initially proposed by Terra co-founder Do Kwon and bootstrapped using funds from the community pool. The Ozone V1 and Ozone V2 saw high demand for their underwriting capacity. However, the Risk Harbor team has not utilized 1 billion UST (now USTC) fully as intended. Thus, the funds should return to the community pool. Alex Forshaw , former Terra Rebels and T...

Do Kwon Assets Frozen The assets include Kwon’s Seoul residence, real estate, imported cars, securities deposited with Mirae Asset Securities, deposits with Woori Bank, and crypto assets in cryptocurrency exchanges. Authorities also alleged that Kwon and Terraform serviced unregistered financial securities. advertisement The court’s decision means Kwon cannot move or sell the assets and properties equivalent to the amount of his alleged illegal profits, which will be confiscated following a guilty verdict. The director of Seoul Southern District’s joint financial crimes team told The Wall Street Journal last week that Kwon could face over 40 years in prison if convicted, the heaviest sentence given to a financial crime in South Korea ’s history. Charges Against Terra Founder The Terra founder is facing charges of orchestrating a cryptocurrency fraud both in the US as well as South Korea . He was arrested on March 23, 2023, in ...