Do Kwon, Terraform Labs’ co-founder, denied allegations of fraud and money laundering in a Manhattan court. Facing serious charges, he could spend up to 130 years in prison if convicted. His legal challenges stem from the collapse of the Terra USD and LUNA tokens, impacting investor confidence globally.

Tether and Bitfinex General Counsel, Stuart Hoegner, resigned, handing over to his co-counsel amid new EU regulations on stablecoin issuers. These regulations necessitate keen legal oversight for robust compliance. His departure comes at a critical juncture, prompting strategic shifts in the company’s legal framework.