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Fear, uncertainty and doubt: Global regulatory challenges of crypto insolvencies

Cryptocurrencies, and in particular Bitcoin, initially gained popularity for promising anonymity, permissionless payments, and an alternative to cross-border remittances. However, the rapid growth of crypto exchanges and companies that did not practice proof of reserves, lack of self-custody, and the high volatility of crypto assets have substantially increased the risk of insolvencies in the industry.
Grayscale Bitcoin Celsius Network Grayscale Bitcoin Trust Cryptocurrency Market Cap

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SEC Charges Do Kwon with $42 Billion Fraud After Terraform Lab Collapses

Cryptocurrency developer and owner of Terraform Labs, Do Kwon, has been charged with fraud after global investors lost about $42 billion in his company. The US Securities and Exchange Commission (SEC) filed a complaint in the Southern District of New York court alleging that Kwon is a fugitive running from the law. In the federal court
New York United States South Korea Gary Gensler Exchange Commission Fraud After Terraform Lab

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