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FinTelegram

June 17, 2024

Inside the $4.5 Billion Settlement: Terraform Labs and Do Kwon’s Legal Battle

As reported recently by FinTelegram, the U.S. Securities and Exchange Commission (SEC) proposed a settlement with Do Kwon and his collapsed crypto scheme Terraform Labs. The judge has now approved this $4.5 billion settlement, marking one of the largest settlements in the crypto sector. This settlement follows a series of high-profile legal actions against various crypto firms, highlighting the ongoing efforts to clean up the sector after significant turmoil.

March 20, 2024

Kyle Davies of Three Arrows Capital: Unrepentant and Strategizing to Evade Legal Repercussions

Kyle Davies, a co-founder of the now-defunct crypto hedge fund Three Arrows Capital (3AC), has been making headlines not for expressions of remorse but for his unabashed strategy to dodge legal accountability. In a recent appearance on the crypto podcast "Unchained," Davies offered insights into his current stance on the myriad of legal and financial troubles following the spectacular collapse of 3AC, showcasing a concerning disregard for the gravity of the situation.

February 21, 2024

Worldcoin’s Price Surge Offers a Glimmer of Hope to Creditors of Collapsed Crypto Firms

In a year fraught with challenges for creditors of the defunct investment firms Three Arrows Capital (3AC) and Alameda Research, the recent price surge of the cryptocurrency Worldcoin (WLD) has emerged as a rare beacon of hope. Co-founded by OpenAI CEO Sam Altman, Worldcoin's value has skyrocketed approximately 140% in the past week. The rally was notably spurred by OpenAI's announcement of its new text-to-video application, Sora.

February 2, 2024

OPNX, Linked to Three Arrows Capital Founders, to Shut Down Operations

OPNX, a cryptocurrency bankruptcy claims platform initiated by the founders of the now-defunct hedge fund Three Arrows Capital (3AC), has announced it will terminate all operations and close down by February 14th. In a communication to its users, the platform has urgently advised them to settle their positions by February 7th and ensure all funds are withdrawn before the February 14th deadline, after which the withdrawal functionalities will be permanently disabled.

January 28, 2024

Three Arrows Capital Co-Founder Enjoyed Prison Time Experience!

Su Zhu, co-founder of the defunct crypto hedge fund Three Arrows Capital (3AC), recently described his time in a Singapore prison as surprisingly positive. Released last month, Zhu shared video clips on X about his prison time. He characterized the experience as overall "enjoyable" and beneficial for sleep improvement. Zhu, arrested for non-cooperation in liquidation investigations, is now shifting focus to the new crypto exchange OPNX.

December 25, 2023

Crypto Insolvency: BVI Court Freezes Over $1 Billion in Assets of Three Arrows Capital Founders!

Three Arrows Capital (3AC) is one of the big crypto insolvencies. A court in the British Virgin Islands (BVI) has issued an order to freeze assets valued at over $1 billion belonging to the founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC), Kyle Davies and Su Zhu. The order also extends to Kelly Chen, the wife of co-founder Kyle Davies, prohibiting the transfer or sale of the founders' digital assets.

December 10, 2023

New Investment Paradigm: Interdependence Between Crypto and Luxury Watches Markets!

In addition to cryptocurrencies, luxury watches have developed as an investment category in recent years. The younger generations, in particular, are interested in investing in luxury watches. The parallel development observed in the crypto and luxury watch markets suggests a potential interdependence between these investment categories. This interdependence implies that fluctuations in the crypto market could significantly influence the secondary market for luxury watches.

Crypto

October 10, 2023

The Rise, Crisis, Consolidation, And Reboot of the Global FinTech Scene!

The global financial landscape has undergone a seismic shift over the past two decades, with FinTech and cryptocurrencies at the forefront of this transformation. However, with innovation comes challenges, and the FinTech scene has seen its fair share of highs and lows. From the meteoric rise of companies like Wirecard to the subsequent crises faced by crypto giants, the journey has been tumultuous. Here is a summary and a glimpse into the future.

October 8, 2023

Crypto Jail Time: Arrest Of Three Arrows Capital Founder Su Zhu Confirmed!

Rumors that Su Zhu, the co-founder of the collapsed and bankrupt crypto hedge fund Three Arrows Capital (3AC), was arrested in Singapore due to his non-compliance with a Singapore court were confirmed. He was ordered to cooperate in the liquidation investigation, which he didn't. Thus, Zhu has been sentenced to a four-month prison term. 3AC was part of the crypto hype between 2020 and 2021 before it collapsed, like many others.

August 10, 2023

Financial Watchdogs: FinTechs And Neobanks Under Regulatory Scrutiny As Money-Laundering Avenue!

In 2007, the European Union introduced a directive promoting payment service providers as a competitive alternative to traditional banks. However, in the post-Wirecard era, where the German financial watchdog BaFin faced criticism for its oversight, there's a renewed focus on regulating these entities. The rationale is clear: FinTechs and neobanks are increasingly seen as potential avenues for money laundering.

March 23, 2023

Montenegro Interior Minister Announced Arrest Of Terra-Luna Founder Do Kwon!

Do Kwon, the co-founder of the failed TerraUSD stablecoin, has been arrested in Montenegro after months of hiding, Montenegro Interior Minister Filip Adzic said on Twitter. The suspect was detained in the airport of the country’s capital of Podgorica with false documents. In September, South Korean authorities issued a warrant for Kwon’s arrest in September. The U.S. Justice Department is investigating the collapse of TerraUSD, WSJ reports.

March 13, 2023

The Conspiracy Narrative Behind The Global Spreading Of Sudden Death Virus In A Nutshell!

The narrative of the sudden death of U.S. banks Silvergate, Silicon Valley Bank, and most recently Signature Bank sounds like a complicated conspiracy story written by John Grisham, Ken Follet, or John Le Carre. The main character is Sam Bankman-Fried (SBF). He allegedly intentionally triggered the collapse of the Terra-Luna stablecoin scheme in 2022 and, with it, the implosion of the worldwide crypto scene, which finally also swept the banking scene, forcing states and regulators to intervene.

Crypto Titan CZ Pivots: Binance Founder’s $37 Billion Family Office YZi Labs Bets Big on AI and Web3!

Changpeng "CZ" Zhao, the crypto billionaire behind Binance, is making waves in the investment world with his latest move. Following his departure as CEO of Binance, CZ has transformed his venture capital arm, Binance Labs, into a formidable family office. This strategic shift allows him to manage his vast personal wealth, estimated at $37 billion, while maintaining his influence in the tech and finance sectors.

The Arrest of René Benko: Austria’s Former Real Estate Titan Falls!

In a dramatic turn of events, Austrian real estate tycoon René Benko, once hailed as the mastermind behind the sprawling Signa Group empire, was arrested Thursday morning at his opulent Tyrolean villa. The Austrian Office of the Public Prosecutor for Economic Affairs and Corruption (WKStA) executed the arrest, citing risks of evidence tampering and the potential for further crimes.

FinTelegram

Trump’s Crypto Gambit: Ross Ulbricht’s Pardon and the Meme Coin Phenomenon Spark Industry Gratitude and Debate

In an important move fulfilling his campaign promise, President Donald Trump has granted a full and unconditional pardon to Ross Ulbricht, the founder of the Silk Road darknet marketplace. This decision has been met with widespread approval within the cryptocurrency community, which had long advocated for Ulbricht's release, viewing his life sentence as excessively harsh for a non-violent offense.

Freedom Restored: Ross Ulbricht Pardoned by President Trump in a Landmark Victory for the Crypto Revolution!

In a much-appreciated decision that has resonated positively throughout the crypto community, President Donald Trump has granted a full and unconditional pardon to Ross Ulbricht, the founder of the Silk Road darknet marketplace. This action fulfills a campaign promise made to libertarians and crypto enthusiasts, marking a significant moment in the intersection of digital currencies and governance.

Investor Briefing: Russian Court Judgment in STRABAG Case Heavily Impacting the Austrian RBI!

A recent €2 billion judgment by a Russian court against the shareholders of Austrian construction giant STRABAG, including Raiffeisen Bank International (RBI), has sent shockwaves through financial markets. The ruling, which implicates RBI's Russian subsidiary in a contentious legal dispute with Rasperia, raises significant concerns about the bank's exposure to Russian liabilities amidst ongoing Western sanctions.