- Daniel Shin, co-founder of Terraform Labs, was charged with fraud and violations of capital-markets laws and regulations around electronic financial transactions and fundraising by South Korean prosecutors.
- Ten people, including Mr. Shin, were charged for allegedly reaping at least 462.9 billion won in profits by selling off their cryptocurrencies before the crash.
- The other co-founder of Terraform Labs, Mr. Kwon, was arrested in March in Montenegro and is being detained on charges of forgery in connection with allegedly false passports.
- TerraUSD was a so-called algorithmic stablecoin that lost its dollar peg in May 2022 and tumbled alongside Luna, triggering a crash that wiped out the savings of thousands of investors worldwide.
- South Korean prosecutors said they have frozen some 246.8 billion won in South Korea-based assets from the indicted individuals, including Mr. Kwon.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec