News linked to both this project and an event.
Odaily reports, Singapore police have filed six charges of fraud against Zhu Juntao, the former CEO of the defunct crypto lending platform Hodlnaut. The charges allege that during the TerraUSD collapse in 2022, he instructed employees to issue false statements, misleading users to believe that Hodlnaut had no direct exposure to TerraUSD and had not suffered any losses from the incident. According to the prosecutor, the false information was published on Hodlnaut's Telegram channel, customer emails, and Zhu's own X (formerly Twitter) account. Under Singapore law, if convicted, Zhu faces a maximum of up to 20 years in prison, a fine, or both for each charge. (CoinDesk)
According to Cryptopolitan, Zhu Juntao, former CEO of Singapore-based crypto lending platform Hodlnaut, has been charged with six counts of fraud—each carrying a maximum penalty of 20 years’ imprisonment, a fine, or both—for allegedly making false statements regarding exposure to TerraUSD (UST). Prosecutors allege that Hodlnaut invested $317 million in user funds into Terra’s Anchor Protocol without disclosing this to users, resulting in losses of $189.7 million following the UST collapse in May 2022. Zhu Juntao has pleaded not guilty to all charges; a pre-trial conference is scheduled for June 2026.
Galaxy Digital founder Michael Novogratz and BitGo CEO Mike Belshe are currently litigating over the failed $1.2 billion merger deal from four years ago.According to reports, the transaction was originally intended to take the combined company public on Nasdaq, but was later terminated due to adjustments in SEC accounting guidance and market liquidity crises triggered by the Terra/Luna collapse.BitGo is demanding that Galaxy pay at least $100 million in termination fees, and accuses Galaxy of failing to take reasonable steps to advance the transaction while concealing details of an investigation by U.S. regulators. In response, Novogratz stated that Galaxy was not the subject of the investigation, and argued that BitGo has lost its eligibility to claim the termination fee for failing to submit required financial statements on time. (Bloomberg)
According to Cointelegraph, cryptocurrency analysts are divided on whether Bitcoin will reenact its historical “Sell in May” pattern in 2026. In the two midterm election years—2018 and 2022—Bitcoin experienced sharp declines in May, falling approximately 30% and 70%, respectively. Analyst Merlijn Enkelaar warned that this historical pattern could repeat, with Bitcoin potentially dropping to $33,000. Joao Wedson, CEO of Alphractal, also noted that if Bitcoin remains persistently below $78,000, the likelihood of a new capitulation phase increases. However, Jeff Ko, Chief Analyst at CoinEx, argued that past crashes stemmed from specific shocks—including the Mt. Gox incident, China’s ICO regulations, the Federal Reserve’s monetary tightening, and the collapses of Terra and FTX—not from calendar-based seasonality. He added that the launch of spot ETFs, corporate treasury allocations, and progress on the CLARITY Act have significantly broadened the institutional buyer base, making a 70–80% deep correction unlikely this cycle. Analyst Michaël van de Poppe highlighted $76,000 as the current critical support level; failure to hold it would likely trigger further downside pressure.
: Quantitative trading firm Jane Street has filed a motion with the court to dismiss the insider trading and market manipulation lawsuit filed by Terraform Labs, which accuses the firm of causing the collapse of the UST/LUNA algorithmic stablecoin.In its filing submitted to the U.S. District Court for the Southern District of New York, Jane Street stated that the lawsuit is "baseless" and represents an attempt by Terraform's bankruptcy estate to shift responsibility for the collapse of a multi-billion dollar ecosystem onto a third party.The firm has requested the court to dismiss the entire case "with prejudice," meaning the plaintiff cannot refile the same claims.Jane Street further pointed out that the fraudulent conduct associated with Terraform has already been prosecuted, adjudicated, and penalized, and that it was not involved. Do Kwon has previously pleaded guilty to conspiracy and wire fraud charges and is currently serving a 15-year sentence. A jury has also found Terraform and Kwon liable for securities fraud.