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- Do Kwon to Stand Trial in New York 2026 for TerraUSD Fraud
Do Kwon to Stand Trial in New York 2026 for TerraUSD Fraud
News on the Blockchain
January 09, 2025
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News on the Blockchain, January 9th, 2025
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 778
Market Cap: $3.28T (-1.91%)
24h Volume: $201.92B (+10.04%)
Bitcoin Dominance: 56.5%
Ethereum Dominance: 12.2%
ETH Gas Price: 4.39 Gwei
Fear & Greed Index: 49 (Neutral)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $93,359.40 | -2.38% | $1.85T | $64.00B |
Ethereum (ETH) | $3,306.11 | -1.60% | $398.31B | $31.26B |
Tether (USDT) | $0.9994 | -0.02% | $137.52B | $128.17B |
BNB (BNB) | $697.20 | -0.25% | $100.40B | $1.98B |
Solana (SOL) | $191.34 | -2.97% | $92.56B | $3.98B |
💹 Market Highlights:
Total DeFi Volume: $12.12B (6.00% of 24h market volume)
Stablecoins Volume: $149.7B (74.14% of 24h market volume)
Coin with Highest % Change: STRK: $18.87 (+146.29%)
🚀 Trending on DexScan:
LLM/SOL: $0.1024 (+9999%)
Shartcoin/SOL: $0.001159 (+635%)
MEMENTS/SOL: $0.006048 (+2188%)
fatcoin/SOL: $0.009604 (+6911%)
BLM/SOL: $0.001223 (+86.28%)
📈 Preview On Today’s News:
- Do Kwon to Stand Trial in New York 2026 for TerraUSD Fraud
- Ripple Eyes Spot XRP ETF Approval Amid Regulatory Shifts
- Fidelity Foresees Governments Embracing Bitcoin Investments by 2025
Keep reading below for more!
Today’s News:
1)
Do Kwon to Stand Trial in New York 2026 for TerraUSD Fraud
Terraform Labs founder Do Kwon is scheduled to face trial in New York in January 2026 on criminal fraud charges related to the $40 billion collapse of the TerraUSD stablecoin in 2022. After a two-year extradition process, Kwon returned to the US and has pleaded not guilty. US District Judge Paul Engelmayer has set the trial to begin on January 26, 2026, with an expected duration of four to eight weeks. Kwon was arrested in 2023 for attempting to flee Montenegro with falsified documents, while South Korea continues to press charges against him. The TerraUSD collapse had a profound impact on the cryptocurrency industry, preceding other significant platform failures like FTX, whose founder Sam Bankman-Fried was convicted in 2023.
Trial Details: Do Kwon will be tried in New York starting January 26, 2026, for fraud related to the TerraUSD collapse, with the trial expected to last four to eight weeks.
Extradition and Impact: Arrested in 2023 after a two-year extradition saga, Kwon's case mirrors that of FTX’s Sam Bankman-Fried, highlighting significant repercussions for the cryptocurrency industry.
2)
Ripple Eyes Spot XRP ETF Approval Amid Regulatory Shifts
Amid the increasing popularity of Ripple’s USD (RLUSD) stablecoin, Ripple President Monica Long has announced that a Spot XRP ETF is expected to be the next major crypto investment product approved following Bitcoin and Ethereum. This optimistic outlook is supported by anticipated changes in the U.S. administration, including the departure of SEC Chairman Gary Gensler and the return of pro-crypto President Donald Trump, which could enhance XRP’s prospects despite its ongoing regulatory challenges. Long highlighted that these regulatory shifts are likely to accelerate the approval process for crypto spot ETFs, positioning Ripple to become the third crypto-based ETF in the United States. Additionally, Ripple is actively expanding its RLUSD stablecoin, with plans to make it available on more exchanges imminently, as part of the company’s strategic initiatives for 2025.
XRP ETF Approval: Ripple President Monica Long announced that a Spot XRP ETF is anticipated to follow Bitcoin and Ethereum, benefiting from expected favorable regulatory changes in the U.S. administration.
Expansion of RLUSD Stablecoin: Ripple is advancing its RLUSD stablecoin, aiming for broader exchange availability soon as a key component of its 2025 strategic plans.
3)
Fidelity Foresees Governments Embracing Bitcoin Investments by 2025
Fidelity, a leading $5.4 trillion asset manager, anticipates that governments worldwide, including nation-states and central banks, will make significant investments in Bitcoin by 2025. Building on Bitcoin's remarkable 2024 achievements, such as launching the first crypto-based ETF in the United States and reaching a six-figure price, Fidelity's analyst Matt Hogan emphasizes that prevailing macroeconomic challenges like inflation and fiscal deficits are driving governments to consider Bitcoin as a strategic reserve. Additionally, legislative efforts like the BITCOIN Act introduced by US Senator Cynthia Lummis and discussions with the Trump administration indicate that the United States may establish its first strategic Bitcoin reserve, potentially marking a transformative year for cryptocurrency in global finance.
Government Investments: Fidelity predicts that by 2025, nation-states, central banks, and sovereign wealth funds will significantly invest in Bitcoin as a strategic reserve, influenced by factors such as inflation and fiscal deficits.
US Strategic Reserve: Legislative initiatives and support from figures like Senator Cynthia Lummis and the Trump administration suggest that the United States may establish its first strategic Bitcoin reserve, following Bitcoin's historic milestones in 2024.
Disclaimer:
The information provided in this newsletter is based on our data findings and opinions. It is intended for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry significant risk, and it is important to conduct your own research and consult with a qualified financial advisor before making any investment decisions. We are not responsible for any financial losses or gains you may incur as a result of using this information.
