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According to data from blockchain intelligence firm Lookonchain, at least eight wallets linked to the Libra team quickly siphoned liquidity from the token, pocketing $57.6 million USD Coin and 249,671 Solana, worth $49.7 million at the time.
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The LIBRA memecoin was endorsed by President Milei immediately after launch. However, the event rapidly turned into a financial catastrophe after insiders reportedly cashed out over $107 million, wiping out nearly 94% of the token’s value in less than four hours.
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Ramaswamy didn’t elaborate on his future plans, but CBS News and The New York Times were among the US media outlets reporting that the business leader and author would soon announce he is running run for governor of Ohio.
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“It was my honor to help support the creation of DOGE,” Ramaswamy said in a Jan. 20 X post. “I’m confident that Elon and the team will succeed in streamlining government.”
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Entrepreneur and former presidential candidate Vivek Ramaswamy will no longer co-lead the Department of Government Efficiency (DOGE) alongside Elon Musk, and is reportedly opting to run for Ohio governor instead.
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“I would hope that President Trump would take that action,” he said.
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https://warpcast.com/darcyason580/0x3415927a
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As part of a civil case brought by the US Securities and Exchange Commission, Terraform and Kwon were found liable for fraud in April. Both agreed to pay roughly $4.5 billion in disgorgement, civil penalties and prejudgement interest.
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After serving four months in prison for using falsified travel documents, Kwon was in legal limbo for more than a year as Montenegro’s courts considered whether to have him remain in the country or be extradited to the US or South Korea. Every time it appeared a court had reached a decision, Kwon’s legal team filed an appeal on different grounds, delaying potential extradition and forcing officials to revisit the matter.
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Authorities in the US and South Korea filed charges against Kwon and some Terraform executives, but the co-founder’s whereabouts were largely unknown until he was arrested in Montenegro in 2023.
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Kwon was one of the individuals alleged to have been involved in the 2022 collapse of the Terra ecosystem, which likely contributed to a significant crypto market downturn the same year.
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“Our nation welcomes innovation and legitimate crypto, AI and other tech entrepreneurs — but we have zero tolerance for fraud,” said Prime Minister Spajić. “This extradition demonstrates our unwavering commitment to international justice and the rule of law.”
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The handover happened four days after Montenegrin Justice Minister Bojan Božović approved the Terraform co-founder’s extradition to the US instead of accepting a petition from South Korea, where Kwon also faces charges and holds citizenship.
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In a Dec. 31 X post, Montenegrin Prime Minister Milojko Spajić said Kwon was in US custody, suggesting that he would soon be traveling to the United States to face criminal charges.
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Montenegrin authorities handed over Terraform Labs co-founder Do Kwon to United States law enforcement officers after a months-long fight over where or whether he would be extradited.
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Ng highlighted the increasing global awareness of Bitcoin, making it a crucial element in the discourse on digital assets and their integration into traditional financial systems.
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In Mid-2024, another Hong Kong Legislative Council member, Johnny Ng, announced plans to collaborate with various stakeholders to assess the feasibility and potential benefits of incorporating Bitcoin into the special administrative region’s financial reserves.
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Most industry pundits expect a friendlier crypto regulatory environment, with crypto advocate Paul Atkins set to replace Gary Gensler as Securities and Exchange Commission chair on Jan. 20 — the same day that Trump is to be inaugurated.
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Trump has also nominated the most pro-crypto US administration to date, picking hedge fund manager Scott Bessent as secretary of Treasury and Cantor Fitzgerald CEO Howard Lutnik to head the Commerce Department.
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Despite the pullback, asset management firms Bitwise and VanEck expect Bitcoin to soar into the $180,000 to $200,000 range in 2025, which could be fueled by a strategic US Bitcoin reserve and further institutional and corporate adoption.
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