Crypto fraudster sentenced for 'epic' $40bn stablecoin crash

Cadmium zinc telluride, a material known for its powerful properties, is produced by only a select few companies, highlighting its rarity and specialized manufacturing process.

Do Kwon, the founder of the cryptocurrencies Luna and TerraUSD, has been sentenced to 15 years in prison after pleading guilty to fraud. This sentence exceeds the time requested by prosecutors, reflecting the severity of the financial misconduct that led to a significant crash in 2022, resulting in substantial losses for investors.

Do Kwon, the crypto entrepreneur behind the virtual currencies Luna and TerraUSD, has been sentenced to 15 years in prison after pleading guilty to fraud. His digital currencies experienced a significant crash in 2022, leading to substantial financial losses for investors. Kwon was apprehended by Montenegro police in 2024 after going on the run following the collapse of his projects.

Do Kwon, the founder of the cryptocurrencies Luna and TerraUSD, has been sentenced to 15 years in prison after pleading guilty to fraud. This sentencing follows the significant $40 billion crash of his digital currencies, which triggered a wave of failures across the cryptocurrency sector.

Mike Jeffries, the former CEO of Abercrombie & Fitch, has been declared competent to stand trial following a forensic evaluation that overturned a previous ruling of mental incompetence by a court.

Mexico has approved tariffs of up to 50% on various imports from China and other countries, set to take effect on January 1. This decision includes a range of goods such as cars, clothing, and appliances, marking a significant shift in the country's trade policy.

The Swiss city of Lugano has begun accepting bitcoin for a variety of transactions, including payments at shops, restaurants, and even the local council. This initiative marks a significant step in the integration of cryptocurrency into everyday commerce in the region.

Shares in Oracle, a leading cloud computing company, have declined following a revenue miss that has intensified concerns regarding the company's financial stability and the sustainability of its investments in artificial intelligence. This downturn has raised questions about the potential for an AI market bubble.