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Do Kwon and US gov't ask to delay legal filings for a third time

Do Kwon’s legal proceedings may be delayed again as both the US government and Kwon’s legal team asked yesterday for a third extension to submit pre-trial motions.  Both parties have already delayed this pre-trial motion submission date twice and have now asked Judge Engelmayer to grant another two-week extension two days before the current deadline is due. Yesterday’s request echoes Kwon’s previous explanations, reading, “Though Mr. Kwon is prepared to file motions by July 29, the parties continue to engage in productive discussions around pretrial motions and related issues.” Do Kwon’s lawyers say they’re ready — then ask for more time Read more: Do Kwon court date postponed again, ‘productive’ talks continue It said, “A further extension of the deadline would allow the parties to continue those discussions and potentially avoid unnecessary motion practice. The parties believe that no other deadlines would be affected by such an extension.” If Judge E...

Jump Crypto chief pled Fifth over alleged backroom Do Kwon deal

Recently unsealed documents reveal that Jump Crypto president Kanav Kariya pled the Fifth when asked about an alleged backdoor bribe made with Terraform Labs founder Do Kwon back in 2021, in an attempt to re-peg stablecoin TerraUSD (UST). According to the SEC, Kariya and now-imprisoned Kwon agreed in May 2021 that Jump Crypto would manipulate the price of UST in exchange for amendments to the terms of Jump’s LUNA loan agreement. In February, sources familiar with the case told reporters that Jump Crypto made $1.28 billion dollars in profit from Kwon’s now-decimated crypto empire. “And when you asked Do Kwon to lift the vesting conditions in exchange for Jump’s agreement to buy up UST to restore the peg, Do Kwon agreed to that, correct?” SEC counsel Devon Staren asked Kariya in court on August 18. “On the instruction of counsel I exercise my rights under the Fifth Amendment and decline to answer the question at this time,” Kariya replied (via Blockwork...