Do Kwon reportedly hires lawyers in S.Korea to prepare for Terra investigation

Terraform Labs co-founder Do Kwon has reportedly hired a lawyer from a domestic law firm in South Korea just days after claiming the South Korean authorities are yet to reach out to him or file any charges against him. According to a local media report, Kwon recently submitted a letter of appointment to an attorney at the Seoul Southern District Prosecutors’ Office, the department that is currently investigating the Terra-LUNA collapse. While Kwon claims no charges were filed against him, prosecutors in South Korea behind the investigation of Terraform Labs…

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Huobi co-founder reportedly looks to sell majority stake valued at over $1B

Leon Li, the co-founder of global crypto exchange Huobi, is reportedly in talks to sell the majority of his stake in the company that could be valued at over $1 billion. Li reportedly had discussions with multiple financiers seeking to offload a 60% stake in the crypto company, which could be valued at over $1 billion and some believe could fetch as high as $3 billion, reported Bloomberg. A Huobi spokesperson confirmed to Bloomberg that the co-founder is engaging with numerous international giants to sell his majority share in the…

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Voyager Digital reportedly had deep ties with SBF-owned Alameda Research

Voyager Digital, the crypto lending firm that went bust due to the crypto contagion initiated by Three Arrow Capital’s (3AC) insolvency is currently fighting its bankruptcy court battle. The court proceedings and financial documents have shown a deep relation between the crypto lending firm and Sam Bankman Fried-owned Alameda Research. Alameda is a quantitative trading firm that was also one of many borrowers from Voyager and reportedly owed $370 million. However, within weeks of 3AC’s downfall, Alameda moved from a borrower to a lender and offered a $500 million bailout…

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Alexander Vinnik reportedly en route to the US after extradition

Accused BTC-e operator Alexander Vinnik has reportedly been extradited to America to face up to multiple charges relating to money laundering while working at the now-defunct cryptocurrency exchange. Vinnik has been embroiled in legal battles over the past five years for his alleged role as the mastermind of BTC-e. The cryptocurrency exchange is said to have profited from various illicit activities that used the platform to launder some $4 billion worth of Bitcoin (BTC). Vinnik’s lawyer Frédéric Bélot told American news network CNN on Aug. 5 that Vinnik was in…

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Nomad reportedly ignored security vulnerability that led to $190M exploit

The Nomad token bridge hack on Aug. 3 was the fourth largest crypto hack in history that saw nearly $200 million worth of crypto assets drained from the platform. However, more than the hack, the methodology behind it garnered widespread attention. The exploit took place due to a smart contract vulnerability that saw hundreds of users other than the hacker also get involved, taking away as much as they can by simply copy-pasting the transaction data used by the initial hacker and changing the wallet address to theirs. The event…

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Ledger reportedly seeking additional $100 million in funding

Having raised a mammoth $380 million funding at a $1.5 billion valuation in June, French cryptocurrency hardware wallet maker Ledger is looking to raise an extra $100 million, according to a Monday report from Bloomberg. In June, Ledger raised $380 million in a funding round led by 10T Holdings. Now, according to reports, the company is seeking an additional $100 million to help it continue its rapid expansion. Business is said to be thriving as investors seek cold storage for their cryptocurrency, according to sources quoted by Bloomberg. Hardware storage…

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Celsius reportedly filing for bankruptcy ‘imminently’

Crypto lending platform Celsius has reportedly filed for Chapter 11 bankruptcy, with its lawyers starting to notify individual U.S. state regulators as of Wednesday, July 13. The news was reported by CNBC and referred to an unnamed source, who asked not to be named as the proceedings were private. They said that the company planned to file the Chapter 11 paperwork “imminently.” It comes just days after the embattled lending platform replaced its previously hired law firm Akin Gump Strauss Hauer & Feld LLP with Kirkland & Ellis LLP, the…

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FDIC reportedly scrutinizing Voyager Digital marketing; complex SBF ties come to light

Some Voyager Digital account holders were surprised when they discovered that their deposits did not have the protection they thought they did after the crypto brokerage and lender filed for bankruptcy Tuesday. This could mean additional consequences for Voyager Digital.  Voyager Digital filed for bankruptcy under Chapter 11, citing debts of up to $10 billion to 100,000 creditors in a crisis brought on after Singaporean hedge fund Three Arrows Capital (3AC) default on a loan of 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) a week earlier. According to…

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Crypto investor Sequoia Capital China reportedly raises $9 billion

Sequoia Capital China, the Chinese affiliate of cryptocurrency-friendly venture capital firm Sequoia Capital, is about to raise $9 billion for its four new funds focused on Chinese startups. In raising the capital, Sequoia China has already exceeded its initial target of roughly $8 billion, The Information news agency reported on Monday, citing two people familiar with the matter. The report notes that the final amount of the raise is supposed to be the biggest pool of capital ever raised by a single VC firm focused on Chinese technology startups. The…

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British Virgin Islands court reportedly orders to liquidate 3AC

Troubled cryptocurrency venture capital firm Three Arrows Capital (3AC) is facing more uncertainty amid new reports on the company’s liquidation. A court in the British Virgin Islands on June 27 ordered the liquidation of Singapore-based 3AC, the British news agency Sky News reported on Wednesday. The information in the report refers to an unspecified person familiar with the matter. Three Arrows Capital did not immediately respond to Cointelegraph’s request for comment. Three Arrows Capital, also known as 3AC, is a Singaporean crypto hedge fund founded in 2012 by Kyle Davies…

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