More than two years after the Terra ecosystem collapsed and wiped out tens of billions from the crypto market, its creator Do Kwon has been sentenced to 15 years in U.S. federal prison. Judge Paul Engelmeyer of the Southern District of New York imposed the sentence after hearing victim testimonies and weighing a plea deal that reduced a nine-count indictment to two fraud charges, while Kwon still faces additional proceedings in South Korea and credit for 17 months in Montenegro remains unresolved.

SK Hynix said in a regulatory filing on Wednesday that it is considering a New York listing via ADRs to narrow a valuation gap with U.S. chip rivals and plans to provide an update within a month. Multiple banks have proposed listing about 17.4 million shares, or 2.4% of outstanding, as depositary receipts, The Korea Economic Daily reported Tuesday. The stock has risen almost 240% this year.

Twenty One Capital fell about 19.97% on its first full trading day following its merger with Cantor Equity Partners, despite holding more than 43,500 BTC worth over $4 billion and backing from Tether, Bitfinex and SoftBank. The stock opened at $10.74 versus Cantor’s prior $14.27 close and finished at $11.42, before after-hours trading lifted it to roughly $11.92 and a market value around $4 billion. CEO Jack Mallers said the company aims to build an operating business around Bitcoin rather than be viewed solely as a treasury-style BTC holder.

WazirX to Resume Trading October 30 After 16-Month Suspension Following $220M Breach lalal

In the first half of 2025, more than 100 listed firms that shifted to crypto-focused treasuries and borrowed heavily to buy tokens have seen their shares fall a median 43% year-to-date, Bloomberg data show. These digital asset treasury stocks have trailed Bitcoin and major U.S. benchmarks as debt-funded purchases of non-yielding crypto assets add structural and liquidity risks. Companies such as Strategy, Inc. and SharpLink Gaming underscore the volatility, with sharp early rallies followed by steep drawdowns.

U.S. federal prosecutors have asked for a 12-year prison sentence for Terraform Labs co-founder Do Kwon over the $40 billion TerraUSD collapse that roiled crypto markets. Kwon has admitted to conspiring to defraud cryptocurrency purchasers, making false statements about efforts to restore TerraUSD’s peg, and concealing Jump Trading’s covert support during a 2021 depeg. He is scheduled to be sentenced on December 11, while his legal team is seeking a five-year term. The defense cites almost three years of harsh detention in Montenegro and a parallel 40-year sentencing request in South Korea as grounds for leniency.

South Korea's Financial Services Commission is reviewing draft rules that would impose bank-level no-fault compensation standards on cryptocurrency exchanges after a late November hack at Upbit. Under the proposals, platforms could be required to reimburse users for losses caused by hacks or system failures even when they are not directly at fault, according to the Korea Times. Exchanges could also face fines of up to 3% of annual revenue, replacing the current 5 billion won cap.

WazirX to Resume Trading October 24 After 16-Month Suspension Following $220M Breach