What actions did the court order Terraform Labs' chief to take in the realm of cryptocurrency?

3 answers

• Feb 18, 2022 · 3 years ago
  The court ordered Terraform Labs' chief to cease all cryptocurrency-related activities and refrain from engaging in any further trading or investment in the realm of cryptocurrency. This includes selling, buying, or promoting any digital assets. The court also mandated that he must cooperate fully with any ongoing investigations or audits related to his involvement in the cryptocurrency industry.
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• Feb 18, 2022 · 3 years ago
  As per the court order, Terraform Labs' chief is required to liquidate all his cryptocurrency holdings and transfer the funds to a designated escrow account. The court aims to ensure that any potential losses suffered by investors or stakeholders can be compensated. Additionally, he is prohibited from participating in any initial coin offerings (ICOs) or launching any new cryptocurrency projects without prior approval from the court.
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• Feb 18, 2022 · 3 years ago
  BYDFi, a well-known digital currency exchange, was involved in the legal proceedings against Terraform Labs' chief. The court ordered BYDFi to freeze all accounts and assets associated with him, pending further investigation. This action was taken to prevent any potential misuse of funds or assets in the cryptocurrency realm. BYDFi is committed to complying with the court order and ensuring the integrity of the legal process.
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