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🌙 Do Kwon Gets US Trial Date for $40Bn Terra Collapse

Kwon’s criminal trial will begin January 26, 2026, federal judge Paul Engelmayer ruled Wednesday.

Author

Mike Gavela
January 08, 2025

In partnership with

Crypto Roundup - January 8

The U.S. District Court has set a trial date for Do Kwon, the co-founder of Terraform Labs, to face charges related to the $40 billion Terra collapse, with proceedings scheduled for April 2024. Meanwhile, the crypto market faces significant turbulence, with over $655 million in liquidations over two days as prices slump across major tokens. On the operational front, Hyperliquid, a new crypto exchange, has been criticized for its centralized structure and pay-to-play model, raising concerns about its long-term sustainability and fairness to smaller participants.

Top Stories

  • Do Kwon's U.S. trial date has been set for April 2024 following allegations surrounding the Terra collapse.

  • Crypto markets see $655 million in liquidations as price drops continue for a second consecutive day.

  • Hyperliquid faces backlash over centralization and pay-to-play policies despite its rapid growth.

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TOP STORIES

Do Kwon gets US trial date for $40bn Terra collapse

Do Kwon will head to trial in January 2026. The Terra founder has one week to request an earlier trial. His attorneys previewed several issues they might raise before the trial.

www.dlnews.com/articles/regulation/do-kwon-gets-us-trial-date-for-terra-collapse

Liquidations Top $655 Million as Crypto Markets Drop for Second Day - "The Defiant"

Bitcoin drops 4% to $93,000, and Ethereum slips 6% to $3,200 as macroeconomic concerns fuel investor jitters.

thedefiant.io/news/markets/liquidations-top-usd655-million-as-crypto-markets-drop-for-second-day

HyperLiquid downplays ‘extreme centralization’ and pay-to-play criticisms

HyperLiquid has responded to an increasing velocity of criticisms about its code, token supply, and validator centralization.

protos.com/hyperliquid-downplays-extreme-centralization-and-pay-to-play-criticisms

FUNDRAISING

AI-Driven Crypto research platform SoSoValue raises $15 million Series A to launch the Investible Spot Index Protocol SSI

The fundraise comes at a $200 million valuation for the rapidly-growing startup...

www.globenewswire.com/news-release/2025/01/08/3006098/0/en/AI-Driven-Crypto-research-platform-SoSoValue-raises-15-million-Series-A-to-launch-the-Investible-Spot-Index-Protocol-SSI.html

OTHER HEADLINES

Thailand launches crypto payment trial in Phuket

Thailand launches a crypto payment trial in Phuket, enabling tourists to use Bitcoin legally while protecting vendors from volatility.

cryptobriefing.com/thailand-crypto-payment-trial-phuket

Bitfinex Relocates Crypto Derivatives Arm to Bitcoin-Friendly El Salvador - Decrypt

Crypto exchange Bitfinex is moving its derivatives operations to El Salvador—the latest tech company to eye up the Bitcoin-loving country.

decrypt.co/300057/bitfinex-relocates-derivatives-bitcoin-el-salvador

Ripple Turns to Chainlink to Push RLUSD Stablecoin Into DeFi - "The Defiant"

By partnering with the largest oracle platform, Ripple is hoping to entice DEXs and other DeFi protocols into embracing its new stablecoin.

thedefiant.io/news/defi/ripple-turns-to-chainlink-to-push-rlusd-stablecoin-into-defi

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