Terraform – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Fri, 13 Jun 2025 06:31:29 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.11 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Terraform – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Asian Morning Briefing: Can 3AC and Terraform be blamed on crackdowns on offshore crypto companies in Singapore? https://earlybirdsinvest.com/asian-morning-briefing-can-3ac-and-terraform-be-blamed-on-crackdowns-on-offshore-crypto-companies-in-singapore/ https://earlybirdsinvest.com/asian-morning-briefing-can-3ac-and-terraform-be-blamed-on-crackdowns-on-offshore-crypto-companies-in-singapore/#respond Fri, 13 Jun 2025 06:31:28 +0000 https://earlybirdsinvest.com/asian-morning-briefing-can-3ac-and-terraform-be-blamed-on-crackdowns-on-offshore-crypto-companies-in-singapore/

Good morning, Asia. This is what makes news in the market:

Welcome to Asian morning briefings, daily summary of top stories throughout the US time, and an overview of market movements and analysis. For a detailed overview of the US market, see Coindesk’s Crypto Daybook Americas.

As Asia begins trading days, all major cryptocurrencies are declining due to market uncertainty as a result of Israel’s attacks on Israel.

Early on Friday morning, Israeli forces carried out multiple airstrikes on Iran’s nuclear facilities and sent prices for

And then it fell sharply.

Despite this recent volatility, ETH is still up nearly 40% over the past three months, according to CoinmarketCap. Coindesk20 index and Bitcoin

.

One theme tracked by market observers is investor desire for risk, and may be considering ETH rallies on behalf of their recent infrastructure upgrades as well as their willingness to invest in Altcoins.

Recent outperformance against Bitcoin remains important as Eth often serves as a key indicator for Charmaine Tam, head of the broader Altcoin Complex and head of OTC.

“As investors become more comfortable beyond BTC, Altcoins offers compelling narratives and liquidity, and benefits,” says Tam. “Ethereum performance often serves as an early indicator of these broader capital shifts.”

The recent surge in ETH dominance is a surge of around 7% to nearly 10%, consistent with a measurable drop in BTC dominance, falling 2-3 percentage points from the recent high, Tam wrote in a note.

(TradingView)

That difference suggests that traders have begun to see the stories of past Bitcoin ETFs and currency hedging in the past.

On-chain flow and total value lock (TVL) data support trends, with assets like pendles, bitenser and high lipids showing strong influx, and Ethereum Layer 2 activity continuing to climb.

Important institutional benefits have further supported Ethereum’s recent strengths, particularly since mid-May, by attracting more than $1.25 billion, Tam said.

According to TAM, the basis for sustainable Altcoin assembly will become increasingly strong as long as institutional interests are strong and ETH maintains its position as a liquidity anchor in emerging ecosystems.

Let’s see if there is a foothold in this market movement.

MAS offshore exchange ban took a long time

Last week, Singapore’s Monetary Authority (MAS) coped the final nails for businesses that use city-states as paper bases while operating entirely overseas.

In the June 6th update, MAS confirmed that digital token service providers (DTSPs) that will only serve foreign clients from June 30th must obtain licenses, and other exchanges like Bitget, Bybit and Wazirx have closed Lion City operations.

For those paying attention, this was inevitable. The mass has at least telegraphed this movement. As Coindesk wrote at the time in 2023.

That year, the regulator concluded public consultations stemming from the Financial Services and Markets Act (FSMA) of 2022, clearly stated that companies that provide crypto services to overseas clients are under the regulations, even without Singaporean clients.

If the entity is registered in Singapore, MAS wants to be monitored. This can be attributed to the fact that two previous biggest headaches of regulators, the three arrow capital and the Terraform Lab, have little relations with the country other than address.

Now, the bankrupt companies were technically resident in Singapore, but their physical presence could be ignored.

Terraform Labs was well-run from a local, critically operated coworking space, but the three arrows had quietly moved its operating base to Dubai, even before the epic collapse (Emirates regulators told Coindesk that the fund would not be registered with the territory).

At the time, MAS was owing the reputational damage from these famous disasters, but found it to minimize real-world surveillance of the companies behind them.

There is no official confirmation, but recent updates to the latest moves in FSMA and MAS could potentially be tied to these episodes.

Due to the new requirements, there is little room for regulatory arbitrage. If a company wants to use a respected name in Singapore, it must be fully submitted to regulatory oversight.

This closure marks a key step in a broader global shift towards cryptography monitoring.

The Quran debuts quantum safe wallets as industry orthodontic instruments for quantum threats

The Clan, the team behind the Quantum Secure Layer 1 blockchain, has launched the QSafe Wallet, a crypto wallet built to withstand the looming threat of quantum computing.

Designed with post-Quantum encryption in mind, the wallet aims for future digital asset storage before quantum threats undermine today’s cryptographic standards.

QSAFE is built using two algorithms selected by the National Institute of Standards and Technology (NIST) for resilience after selection, SLHDSA and ML-KEM.

It supports Bitcoin, Solana, EVM compatible chains and native chains of Quran. Unlike most wallets using ECDSA and SHA-256, QSafe encrypts backups and by default signs transactions using quantum resistance tools.

The threat is no longer purely hypothetical. Cryptographic researchers estimate that around 1,500 logical qubits are needed to break the ECDSA. Although current quantum systems are well below that threshold, development is accelerating.

“Qsafe is built to not only respond to quantum threats, but also tolerate it,” says Dhiman. “We don’t hire security guards after the theft occurs. We don’t hire them to prevent that. QSAFE is designed to protect assets before quantum threats reach the key.”

Market movements:

  • BTC: Bitcoin has fallen 4.7% and is trading at $103.3k due to geopolitical tensions caused by the recent Israeli attack on Iranian nuclear facility in Tehran.
  • ETH: ETH was under pressure within the descending channel after being repeatedly rejected at $2,770, and sold quickly to $2,694 despite being in charge of the Spot ETF, which recorded an 18-day inflow, including $240 million on June 11.
  • gold: Gold surged over 3% to $3,426.95, reaching a weekly high as tensions in the Middle East and soft US data raised expectations for a Fed rate cut.
  • Nikkei 225: The Asia-Pacific market fell on Friday after Israel launched a military strike with Iran’s nuclear program. Japan’s Japan 225 fell by 1.28%, while Topix lost 1.22%.
  • S&P 500: The S&P 500 closed at 6,045.26 on Thursday, up 0.38% at 6,045.26.

Other locations in the code

]]> https://earlybirdsinvest.com/asian-morning-briefing-can-3ac-and-terraform-be-blamed-on-crackdowns-on-offshore-crypto-companies-in-singapore/feed/ 0 41741 Terraform Labs to Open Claims Portal for Investors on March 31
 https://earlybirdsinvest.com/terraform-labs-to-open-claims-portal-for-investors-on-march-31/ https://earlybirdsinvest.com/terraform-labs-to-open-claims-portal-for-investors-on-march-31/#respond Sat, 29 Mar 2025 17:15:07 +0000 https://earlybirdsinvest.com/terraform-labs-to-open-claims-portal-for-investors-on-march-31/

Terraform Labs, the firm behind the collapsed Luna token and the TerraUSD stablecoin, will open a portal on March 31 to allow investors to file claims for crypto losses tied to the company’s downfall and subsequent bankruptcy.

The online system, operated by claims administrator Kroll, is part of the company’s court-supervised wind-down process. Investors have until April 30 at 11:59 p.m. ET to submit claims through claims.terra.money. Late submissions will not be considered, meaning those who miss the deadline forfeit their right to any recovery, according to a Medium post.

Eligible claims must be tied to specific cryptocurrencies listed in the case documents and held during the period surrounding the Terra ecosystem’s collapse. Notably, assets with less than $100 in on-chain liquidity and certain others—like Terra 2.0’s Luna—will not qualify.

Claimants must also submit proof of ownership. The preferred method is read-only API keys from exchanges, which the administrator considers more reliable than screenshots or manually uploaded documents. The post adds that those using manual evidence may face extended review periods or risk their claims being denied altogether.

Once filed, claims will be reviewed and verified. Initial decisions will be shared within 90 days after the deadline and approved claims will be eligible for pro rata distributions once processing concludes.

The Terra ecosystem collapsed in 2022, leading to the largest destruction of wealth in just three days in the cryptocurrency space’s history. LUNA’s market capitalization plunged from over $41 billion to $6 million in that period.
Read more: Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud Case

]]> https://earlybirdsinvest.com/terraform-labs-to-open-claims-portal-for-investors-on-march-31/feed/ 0 27910 Terraform Labs Opens Claims Portal for TerraUSD Victims https://earlybirdsinvest.com/terraform-labs-opens-claims-portal-for-terrausd-victims/ https://earlybirdsinvest.com/terraform-labs-opens-claims-portal-for-terrausd-victims/#respond Fri, 28 Mar 2025 23:28:57 +0000 https://earlybirdsinvest.com/terraform-labs-opens-claims-portal-for-terrausd-victims/

Terraform Labs has announced that the Crypto Loss Claims Portal will open on March 31, 2025, allowing affected investors to seek compensation for losses linked to the Terra USD (UST) token collapse.

The company, which is winding down operations following its bankruptcy, stated that creditors must submit claims by April 30, 2025, to be considered for potential recovery.

Eligibility Criteria & Post-Filing Procedures

According to a blog post, creditors must register on the Kroll-managed portal and provide proof of ownership to submit their requests. For holdings on the Terra ecosystem or supported networks, users must sign a transaction through it at no cost.

Those with assets on other platforms are encouraged to submit a read-only API key. Manual evidence, such as transaction logs and account statements, may also be accepted, but this could lead to extended review periods.

The plan administrator will determine the value of applications based on the eligible loss of crypto holdings. However, not all assets qualify. Cryptocurrencies with on-chain liquidity below $100 and specific holdings like Luna 2.0 on Terra 2.0 are excluded. Claims submitted with manual evidence may also be rejected if preferred verification methods are available but not used.

Once filed, the receivables will be reviewed by the Wind Down Trust. Within 90 days of the April 30 deadline, creditors will receive a portal notification detailing their submission status. They may then accept or dispute the findings, with approved amounts distributed on a pro-rata basis soon after.

UST Collapse and Legal Troubles

Terraform Labs’ stablecoin, UST, collapsed in May 2022 after its algorithmic peg to the U.S. dollar failed, resulting in an estimated $40 billion in losses across the crypto market.

The incident led to multiple lawsuits and investigations, and the company ultimately filed for bankruptcy in January 2024. In September of that year, a court approved the stablecoin issuer’s plan to wind down its operations as part of its bankruptcy proceedings.

It also reached a settlement with the U.S. Securities and Exchange Commission (SEC), agreeing to pay $4.47 billion in disgorgement and penalties. This followed an earlier ruling that found the firm and its co-founder, Do Kwon, guilty of fraud.

To fulfill these obligations, Terraform Labs will use assets held by Kwon, including PYTH tokens and other holdings. However, the settlement also requires payments to the SEC to be made only after creditor claims are addressed through the company’s liquidation process.

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