13 Aug 2025, 06:00

Do Kwon’s Guilty Plea In US Fraud Case Sets Stage For 25-Year Sentence

Do Kwon, co-founder of the defunct blockchain firm Terraform Labs, has pleaded guilty to US fraud charges after a tumultuous three years following the company’s collapse. Do Kwon, who took part in creating and developing the TerraUSD stablecoin and the Luna (now Luna Classic) token lost an estimated $40 billion in value in 2022, entered his plea during a court hearing in New York on Tuesday. Do Kwon Admits Guilt In Conspiracy And Wire Fraud Case Kwon faced serious allegations stemming from a nine-count indictment that included securities fraud, wire fraud, commodities fraud, and conspiracy to commit money laundering, according to US authorities. As reported by Bitcoinist on Monday, after initially pleading not guilty in January, he ultimately changed his stance, agreeing to plead guilty to two charges: conspiracy to defraud and wire fraud as part of a deal with the Manhattan US Attorney’s office. The charges against Kwon were primarily related to misleading investors about TerraUSD, a stablecoin intended to be pegged to the US dollar. Prosecutors allege that when TerraUSD fell below its peg in May 2021, Kwon falsely assured investors that a computer algorithm known as “Terra Protocol” would restore the coin’s value. Authorities claim that in reality, Do Kwon had “secretly arranged for” a high-frequency trading firm to buy millions of dollars’ worth of the token to artificially inflate its price and recover its value pegged to the dollar. This behavior led both retail and institutional investors to purchase Terraform products, inflating the value of Luna—a cryptocurrency closely tied to TerraUSD—to as much as $50 billion by early 2022. Banned From Crypto As Part Of SEC Settlement During the court proceedings, Kwon expressed remorse for his actions, admitting, “I made false and misleading statements about why it regained its peg by failing to disclose a trading firm’s role in restoring that peg. What I did was wrong.” As part of his legal troubles, Kwon has agreed to pay an $80 million civil fine and will be banned from engaging in crypto transactions as part of a broader $4.55 billion settlement with the US Securities and Exchange Commission. Do Kwon, has been in custody since his extradition from Montenegro late last year by US authorities is also facing charges in South Korea on conspiring to commit commodities fraud, securities fraud, and wire fraud Looking ahead, the crypto entrepreneur faces a potential prison sentence of up to 25 years, although prosecutors indicated they would recommend a maximum term of 12 years, contingent on Kwon accepting responsibility for his actions. Sentencing is scheduled for December 11. Following Do Kwon’s fall, Luna Classic recorded an 8% uptick on the weekly time frame. This recovery reached the $0.00006284 level after months of continuous drops from its yearly high of $0.00012, which was reached in January. Featured image from DALL-E, chart from TradingView.com

13 Aug 2025, 05:58

Bitcoin price today: steady at $119.3k, Ether near record high on corporate buying

13 Aug 2025, 05:57

What Treasury Secretary Bessent’s Call for a 50bps Cut in September Could Mean for Crypto

Bessent’s call for a half-point September rate cut follows soft jobs data and a mild inflation uptick, with crypto poised to benefit.

13 Aug 2025, 05:57

Dogecoin to the Moon? DOGE Price Chart Forms Golden Cross for First Time Since November

Meme cryptocurrencies may soon heat up as their leader, dogecoin (DOGE), has formed a golden cross, hinting at a major price surge ahead. A golden cross occurs when the 50-day simple moving average (SMA) of an asset's price moves above the 200-day SMA. The crossover indicates that the short-term momentum is now outperforming the longer trajectory, with the potential to evolve into a major bull run. Dogecoin's averages crossed bullish early today. While the golden cross is seen as a positive indicator, it has a mixed record of predicting trends in most markets, including equities, bitcoin and DOGE. That makes it unreliable as a standalone indicator. That said, most of DOGE's previous big moves unfolded with the appearance of the golden cross. For instance, prices surged over 130% to 46 cents in four weeks following the occurrence of the golden cross on Nov. 6, 2024. Prices surged 25% in four weeks after the averages crossed bullish on Nov. 22, 2023. Similarly, a golden cross happened in early November 2020, marking the onset of a major four-month bull run that saw prices rally over 1,000% in four months. Let's see if history repeats itself. Read more: Sharp 7% Drop Sends DOGE Toward 22-Cents Support on High-Volume Selloff

13 Aug 2025, 05:50

SEC Bitcoin Bull Member Hester Peirce Makes Statement Following Recent Surge

US Securities and Exchange Commission (SEC) member Hester Peirce made important statements on the Bloomberg Crypto program regarding asset tokenization, which is rapidly spreading in the financial world, and the integration of cryptocurrencies into individual retirement plans. Peirce said that even tokenized versions of securities are still considered securities and that providing transparent information to investors is vital. One of the program's main agenda items, tokenization—the conversion of real-world assets (real estate, works of art, etc.) into digital tokens—is attracting increasing interest. Member Peirce noted that the SEC is closely monitoring developments in this area, saying, “Tokenizing a security doesn't mean it ceases to be a security. Companies should provide clear disclosures to investors about the nature of these assets.” Peirce also added that the SEC is open to collaborating with companies exploring new tokenization models and will facilitate market innovation in this area. Related News: BREAKING: Coinbase Announces Listing Amid Rally - Adds to Roadmap Peirce's statements came shortly after President Trump signed an executive order allowing 401(k) accounts to invest in crypto assets. This development has fueled expectations that cryptocurrencies will become more integrated into the mainstream financial system, but it has also sparked controversy. Peirce stated that the SEC believes that private assets offered to individual investors should be professionally managed and diversified within investment portfolios. Bloomberg columnist Allison Schrager, however, took a more cautious approach, warning that cryptocurrencies are inherently high-risk assets and that including them in retirement plans like 401(k)s could introduce unnecessary risks to investors. The program also reviewed regulatory announcements and recent developments in the crypto markets. Bitcoin reached all-time highs, approaching $120,000, while Ethereum surpassed $4,400, marking its best performance since 2021. *This is not investment advice. Continue Reading: SEC Bitcoin Bull Member Hester Peirce Makes Statement Following Recent Surge

13 Aug 2025, 05:49

Analyst to XRP Holders: 777% Surge Is All We Need to Ignite This Journey

Crypto Analyst Egrag Crypto has shared a new long-term XRP price chart, suggesting that the asset could see a 777% price increase from current levels. The chart, created on TradingView using the Bitstamp monthly XRP/USD pair, is dated August 10, 2025, and outlines what the analyst identifies as three major market cycles. Cycle 1 is labeled as lasting “8 bars, 245 days,” Cycle 2 as “5 bars, 151 days,” and Cycle 3, the current cycle, as “8 bars, 243 days.” These cycles are visually separated by vertical blue lines, with the price movement contained within a rising trend structure illustrated by a thick ascending band. A large white wedge pattern is drawn across the chart, capturing much of XRP’s historical trading range. The projection itself is presented in magenta, showing a potential move of approximately 777%, a 7.77x increase from the current region. According to the chart, this would target a price level around $28.16 , with the measure extending from the current price of approximately $3.19. The technical structure suggests that this projection is based on recurring price behavior observed in previous cycles, combined with the breakout trajectory indicated by the wedge pattern. #XRP – The Chart Doesn’t Lie! The chart is speaking volumes, and a 777% surge is all we need to ignite this journey! What we’re witnessing now is just the beginning of something much bigger. A Call to Action : Hey, @bgarlinghouse , what’s holding you back from sharing… pic.twitter.com/gEm5HG9uJz — EGRAG CRYPTO (@egragcrypto) August 10, 2025 Commentary Directed at Industry Figures Alongside the chart, Egrag Crypto addressed several well-known industry figures. The tweet included a direct question to Brad Garlinghouse, asking why he has not shared his thoughts, while noting that David Schwartz typically avoids legal commentary. The post also mentioned that Ripple’s Chief Legal Officer, Stuart Alderoty, has provided some public insights . These references appear aimed at encouraging further discussion and commentary from individuals closely associated with XRP and its broader ecosystem . We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Analyst’s Position on Market Outlook Egrag Crypto described the current stage as “just the beginning” of a potentially larger move, emphasizing that “the chart doesn’t lie” and characterizing the outlook as bright. The focus of the analysis remains on the 7.77x projection, framed as a possible next stage in XRP’s market development based on cyclical repetition and structural breakout analysis. While the projection is visually compelling, the post does not claim certainty, instead presenting the scenario as a technical observation derived from historical price action. The tweet encourages followers to view the current market setup in the context of long-term chart patterns and past market behavior, highlighting the potential for significant movement if the current structure plays out as in previous cycles. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Analyst to XRP Holders: 777% Surge Is All We Need to Ignite This Journey appeared first on Times Tabloid .