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The prosecutor leading Korea’s investigation into the Terra-Luna project said its founder Do Kwon should be extradited to Seoul to face trial.

The administration of U.S. President Joe Biden is campaigning for a tax on cryptocurrency miners equal to 30% of the cost of the power they use, citing what it calls “negative spillovers” from the industry.

South Korean prosecutors on Tuesday indicted Terraform Labs co-founder Daniel Shin for alleged fraudulent transactions related to the collapse of the Terra-Luna crypto project.

Kwon Do-hyeong will have a court hearing on May 11 in Montenegro on charges of allegedly attempting to travel using a false passport.

Do Kwon has been charged by Montenegrin authorities for attempting to travel with forged documents as the US and South Korea race to extradite him.

South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.

Bitcoin rebounded above US$30,000 on Wednesday morning in Asia. All top 10 tokens rose after SEC chair Gary Gensler was criticized at a congressional hearing for his approach to digital assets.

Bitcoin, Ether and most other top 10 non-stablecoin cryptocurrencies dipped Tuesday morning in Asia after the SEC sued crypto exchange Bittrex on Monday.

SEC member Hester Peirce has criticized the regulatory agency for its proposal that seeks to expand the definition of an “exchange” to DeFi platforms.

Twitter users will soon have access to stocks and cryptocurrency through a new partnership with eToro, a trading platform. 

The failed FTX cryptocurrency exchange has recovered around US$7.3 billion in assets and is considering the option of restarting its business.

Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.

Binance.US, a unit cryptocurrency exchange Binance set up to serve U.S. customers, will delist the native token of the Tron blockchain, TRX, on April 18.

Seoul Southern District Prosecutors’ Office is in the process of freezing 7.1 billion won worth of assets that belong to Terraform Labs CEO Do Kwon.

Former executives of the bankrupt crypto exchange FTX failed to install appropriate financial controls in the company, complicating the asset recovery process, the restructuring team of the failed exchange said.

The arrested crypto fugitive Kwon Do-hyung has “zero ” identifiable assets in his native South Korea, prosecutors said on Friday.

Bitcoin dipped below US$28,000 in mixed Tuesday morning trading in Asia. Ether rose. Dogecoin surged after Elon Musk switched the Twitter icon to Dogecoin’s Shiba Inu.

A South Korean court dismissed for the second time a request by prosecutors for an arrest warrant for Terraform Labs co-founder Daniel Shin.

The U.S. may have gained an edge in a race with South Korea to extradite Terra chief Kwon Do-hyung from Montenegro on charges of fraud.

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Sam Bankman-Fried allegedly paid US$40 million in cryptocurrency bribes to at least one Chinese government official in November 2021.

Kwon Do-hyung will be held in Montenegro for a month on charges of using forged travel documents, South Korea’s Yonhap News reported.

Welcome to The Daily Forkast – March 24, 2023 – presented by Joel Flynn for the latest in the crypto markets. Most major cryptocurrencies have seen a increase in their prices amid the Federal Reserve’s decision to raise the Fed rate by another 25-basis points. Terra Luna founder Do Kwon has been arrested by Montenegrin […]

South Korea’s police said they confirmed the identity of a man arrested in Montenegro, Europe, as the Terraform Labs co-founder Kwon Do-hyung, who is wanted on charges of fraud related to the collapse of the stablecoin and cryptocurrency project he led.

Terraform Labs co-founder Shin Hyun-seung, also known as Daniel Shin, was again called in for questioning by South Korea’s prosecutors on Monday.

South Korean prosecutors said they will expand cooperation with overseas legal agencies to facilitate the arrest and extradition of Do Kwon.

Former employees of Do Kwon’s Terraform Labs are being questioned by the FBI and U.S. prosecutors in New York.

Bitcoin fell below US$20,000 for the first time since Jan. 13 on the back of crypto bank Silvergate’s collapse and the U.S. Fed signaling higher than expected interest rate hikes.

The U.S. has proposed an excise tax on cryptocurrency miners equal to 30 percent of the cost of the electricity they use.

CFTC chair Rostin Behnam has called Ethereum a commodity and not a security, in apparent contrast to past statements from SEC Chairman Gary Gensler.

The Forkast 500 NFT Index dipped 1.25% to 4,235.97 in the 24 hours through 10:00 a.m. in Hong Kong on Thursday.

Stablecoins could have a place in the U.S. financial services sector if appropriate regulation is put in place, Federal Reserve Chairman Jerome Powell said on Tuesday at a hearing before Congress.

Singapore’s police have begun investigations linked to Terraform Labs that was co-founded by fugitive Do Kwon, according to a Bloomberg report.

Binance, the world’s largest cryptocurrency exchange, reportedly didn’t disclose the extent of its ties and control over Binance.US, WSJ reported.

Nishad Singh, former engineering chief of bankrupt cryptocurrency exchange FTX, pleaded guilty to fraud and several other criminal charges at a hearing on Tuesday related to the collapse of the company, Bloomberg reported.

U.S. Treasury Secretary Janet Yellen told Reuters after the G20 meeting in India on Saturday that while the U.S. has not indicated any outright bans, it is critical to put in place a strong regulatory framework for the cryptocurrency industry. 

The founder of bankrupt cryptocurrency firm FTX.com Sam Bankman-Fried (SBF) has received another four criminal charges in a superseding indictment on Thursday.

Cryptocurrency exchange Huobi Global is seeking to relocate its Asia headquarters from Singapore to Hong Kong.

Nishad Singh, a former executive at bankrupt Bahamas-based cryptocurrency exchange FTX.com, may be leaning towards pleading guilty to fraud charges for his involvement in the company’s last November

There might be “probable cause” to believe that Sam Bankman-Fried engaged in witness tampering and other activities that could revoke his bail, says judge.

The U.S. SEC charged Singapore-based Terraform Labs and its chief Kwon Do-hyung for defrauding investors.

Academics from Stanford Law School and Stanford University are the previously two unknown individuals who signed bonds that allowed the release of FTX crypto exchange founder Sam Bankman-Fried from prison on bail, according to court filings released Wednesday. 

The new leadership at FTX are threatening charitable and political organizations with lawsuits if they don’t return donated funds. Will this benefit ordinary depositors?

Sam Bankman-Fried, the co-founder of the now-bankrupt FTX exchange, has been banned from using virtual private networks (VPNs) while out on bail, as the judge cited similar concerns to the co-founder’s use of encrypted messaging apps, Bloomberg reported on Tuesday. See related article: Bankrupt FTX threatens legal action to claw back donations to politicians, charities […]

The intensifying regulatory oversight in the U.S. is highlighting the increasing need for non-U.S. dollar-pegged stablecoins in the cryptocurrency industry, Binance Chief Executive Officer Changpeng Zhao said on Tuesday.  See related article: Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown Fast facts See related article: SEC may make […]

Huobi Global plans to expand its operations in Hong Kong, anticipating that Mainland China will soon follow the city’s recent pro-crypto shift, says Justin Sun.

Hester Peirce said using enforcement action to dictate law in an emerging industry is the act of a “lazy” regulator, after the SEC fined the U.S.-based Kraken crypto exchange for failing to register staking programs.

Robinhood Markets Inc., the U.S.-based financial services company, aims to purchase the 55 million of its shares that FTX-linked Emergent Fidelity Technologies bought in May 2022, according to its earnings report released Wednesday.

Prosecutors flew to Serbia earlier this month as part of an investigation into Terraform Labs chief Do Kwon, who faces fraud accusations related to the US$40 billion collapse of his Terra-Luna cryptocurrency project in May last year.

Binance, the world’s largest crypto exchange, will suspend all deposits and withdrawals of U.S. dollars at its international exchanges from Feb. 8.

The move marks a shift in tone from December when recipients of FTX donations were requested to “voluntarily” return the funds.

The non-fungible token (NFT) project by former U.S. President Donald Trump has helped its host network, Polygon, outsell Ethereum on the leading NFT marketplace OpenSea for the second straight month, according to transaction data.

Bankrupt cryptocurrency exchange FTX.com had around US$1.4 billion in cash reserves at the end of 2022, according to a financial update released Tuesday.

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

A U.S. federal judge has granted motions to reveal the identities of the two unnamed co-signers of FTX founder Sam Bankman-Fried’s US$250 million bail bond.

Sam Bankman-Fried’s mother and brother are not cooperating with the FTX legal team’s investigations into the Bahamans-based exchange’s bankruptcy and misappropriation of customer funds

Bankrupt BlockFi reportedly had over US$1.2 billion of assets tied to FTX.com and its sister trading firm Alameda Research

Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.

FTX is exploring options to revive its bankrupt international cryptocurrency exchange, FTX.com, CEO John Ray told the Wall Street Journal.

Founder and former chief executive of FTX U.S., Sam Bankman-Fried, has rejected claims by the company’s current leadership made in a presentation on Tuesday that the team has only recovered US$181 million worth of funds from the exchange.

South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.

Binance, the world’s largest cryptocurrency exchange by volume, is planning to increase staff by as much as 30% this year.

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange that collapsed in November with billions of dollars in investor funds missing, pleaded not guilty to charges of fraud on Tuesday in New York.

The Securities Commission of The Bahamas has rejected “material misstatements” made by FTX’s newly-appointed CEO, John J. Ray III

It takes a village to raise a child, and Bitcoin is no different — we must support its growth but also set firm boundaries, writes Justin d’Anethan of Amber Group.

On-chain data showed that Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, sent around 570 Ether worth US$684,000 to a Seychelles-based exchange and Ren Protocol’s Bitcoin bridge on Wednesday

The Securities Commission of the Bahamas is temporarily holding US$3.5 billion of digital assets seized from FTX Digital Markets

FTX founder Sam Bankman-Fried took funds from his trading firm, Alameda Research, to buy stock of trading app Robinhood, court documents revealed Tuesday.

Several wallets associated with Alameda Research, the trading arm bankrupt cryptocurrency exchange FTX.com, came to life on Wednesday, swapping various tokens. 

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

Failed cryptocurrency exchange FTX Trading Ltd. has asked a bankruptcy court to keep US$450 million worth of Robinhood shares frozen, as three parties battle for the true ownership of the assets.