Latest news with #TerraLuna
Yahoo
12-08-2025
- Business
- Yahoo
Terra's Do Kwon to Change 'Not Guilty' Plea in US Fraud Case
Terraform Labs founder Do Kwon may change his "not guilty" plea in federal court tomorrow, a judge said Monday. District Judge Paul Engelmayer, of the Southern District of New York, scheduled a hearing for Tuesday morning in an order saying he had been "advised that the defendant may enter a change of plea." Kwon previously pleaded "not guilty" to multiple fraud and market manipulation charges tied to the operation and subsequent collapse of Terraform's Terra/Luna stablecoin ecosystem. Kwon was extradited to the U.S. at the end of 2024 following a lengthy back-and-forth with different Montenegrin authorities. Kwon was detained in Montenegro following an attempt to travel on a fake passport. A trial was tentatively set for next January, after prosecutors said they needed to examine six terabytes of data during discovery. Judge Engelmayer's order on Monday did not specify whether Kwon would plead guilty to all of the charges or if prosecutors had come to a plea deal with the defense team. His order did say the defense attorneys "should, in advance of the proceeding, review with the defendant any plea agreement or Pimentel letter." Kwon and Terraform have already been found liable for civil fraud in a case brought by the U.S. Securities and Exchange Commission, and ordered to pay $4.5 billion in penalties and disgorgement. The Terra network, once worth over $18 billion, collapsed in a matter of days after the algorithmic stablecoin TerraUSD (UST) lost its peg and its companion token Luna (LUNA) lost most of its value. An attorney for Kwon did not immediately return a request for comment. 登入存取你的投資組合
USA Today
02-06-2025
- Entertainment
- USA Today
Can you stay at Epic Universe? These hotels put you closest to the action.
Can you stay at Epic Universe? These hotels put you closest to the action. Show Caption Hide Caption Dive into Universal's Epic Universe immersive worlds Universal's Epic Universe in Orlando, Florida, is the first theme park to open in the area in 25 years with five different, immersive worlds. ORLANDO, Fla. – If money were no object, there'd be no question about where to stay while visiting Universal's new Epic Universe theme park. Hands down, it would be Universal Helios Grand Hotel because it's connected to the park and has an exclusive entrance. 'You can ... almost literally roll out of bed and into the theme park,' Dennis Quinn, senior vice president of Hotel Commercial Strategy at Universal Orlando Resort, told USA TODAY. 'It just brings a whole new level to the guest immersion into our entertainment environment.' The location not only puts guests at a huge advantage for being among the first to enter Epic Universe each morning, but also for midday breaks, when they can saunter back to their rooms or hotel pool to recharge. 'It's not like you have to have a dedicated pool day,' he added. 'You could hop in and out on any given day.' Alas for most travelers, money matters, and Helios Grand is one of the priciest hotels at Universal Orlando Resort. Starting prices vary widely depending on factors like time of year, length of stay and available promotions. Prospective guests can find pricing for their specific travel dates on Universal's website. With 11 hotels and 11,000 rooms on property, there's something for every budget. And some hotels, co-owned by Universal and Loews, have arguably better perks. Here's what you should know before booking an Epic Universe vacation. What hotels can you walk to Epic Universe from? Three hotels are within walking distance of Epic Universe. Helios Grand is adjacent. Universal Stella Nova sits across the street from the park, about a 12-minute walk away. Its twin, Universal Terra Luna, is a bit further, diagonal from the park. All three hotels opened this year and were inspired by Celestial Park, the heart of Epic Universe. 'With Stella and Terra, we liked the celestial aspect of Celestial Park within Epic Universe, so we took that field and tried to not capture space travel but tried to capture the aura and wonder of space,' explained Russ Dagon, senior vice president of Resort Development, Universal Creative. He said the same creatives who worked on the park drew early concept art for Stella Nova and Terra Luna. For Helios Grand, he said, they leaned into the look of historic world's fairs, which also influenced the architecture of Celestial Park. 'We knew when we were designing this hotel that this would be the backdrop to virtually every picture taken within the park, so it's highly integrated,' he said. Most of Universal's other hotels are not walkable from Epic, located on an entirely different campus along with Universal's two other theme parks, Volcano Bay water park and CityWalk shopping, dining and entertainment. CityWalk's transportation hub is about 15 minutes away from Epic Universe by resort shuttle. Universal's two Endless Summer hotels are exceptions. They're not connected to either park campus or within easy walking distance, but located between them. On the plus side, their rooms and suites are generally the cheapest at Universal. Free transportation is provided between Universal hotels and parks, but guests will consider where they plan to spend most of their vacation when choosing where to stay. What is the difference between Stella Nova and Terra Luna? These sleek, space-themed hotels are very similar, but there are a few slight differences. Outside, both are paneled in shiny, multicolored tiles, but Stella Nova's tiles extend all the way to the ground near its front entrance, while Terra Luna's do not. On the inside, they're mirror images, with Stella Nova's cafe and quick-service dining venue to the left side of its lobby, when entering from the front, and Terra Nova's to the right. The venues are also designed differently and have different menus. The predominant color in both hotels is white, but as their names imply, Stella Nova is accented with cooler tones and starry vibes while Terra Nova has warmer, more terrestrial theming. By and large, their spacious two-queen guest rooms look the same, but they have different artwork. Both hotels have a lobby bar and pool bar, gym, game room, hot tub and expansive pool with ample lounge seats. For families with young children, Stella Nova also has a splash pad. Terra Luna does not, but its pool offers zero-depth entry, unlike Stella Nova's. Is it worth staying off property? What Universal, Disney guests should know when visiting Orlando What are the benefits of staying at the Universal Helios Grand Hotel? Aside from its unparalleled proximity to Epic Universe and exclusive park entrance, Helios Grand is a beautiful hotel. 'One of our biggest challenges – and I think we did a great job of addressing this – was making it rich, making it sophisticated and making it approachable all at the same time,' Dagon said. 'We've all been in hotels where you felt it was too fancy for you ... It's all still very, very comfortable.' Half of the hotel faces the park, offering spectacular views that can be seen from its top-floor bar, Bar Helios, and guest rooms where curtains automatically open and close with the touch of a button. Like any Universal Orlando hotel, guests staying there enjoy early entry to select parks each day with paid admission, free resort transportation, free delivery of in-park purchases back to their hotel, room charging privileges – and the feeling of staying inside the Universal bubble. 'That's the big part of it, feeling like you're not really leaving the resort grounds, the fact that it's a continuous vacation experience,' Quinn said. One big difference, however, from other Universal hotels at similar price points is Helios Grand guests do not get free Universal Express Unlimited passes to cut waits at Universal Studios Florida and Universal Islands of Adventure. Those passes typically cost between $149.99 and $349.99 per person, per day, but they're free with stays at Loews Portofino Bay, Hard Rock Hotel and Loews Royal Pacific Resort. Travelers planning to visit Universal's other theme parks should consider if the perks of staying at Helios Grand outweigh the opportunity cost of the Universal Express passes and time saved in line. (Free Express passes can't be used at Epic Universe.) Alternately guests could split their stay between hotels for the best of both worlds. 'None of our hotels are designed to be all things to all people, and because of that, you can create a unique stay at each property and you can find something for everyone,' Dagon said. The reporter on this story received access from Universal. USA TODAY maintains editorial control of content.
Yahoo
20-05-2025
- Business
- Yahoo
Crypto scores a victory as GENIUS Act stablecoin legislation stays alive in Senate
A bill to regulate stablecoins passed a key procedural hurdle in the Senate Monday night, paving a path for final passage of legislation pushed by the crypto industry as early as this week. The bill still faces hurdles from some Democrats, including Sen. Elizabeth Warren, who argued against the proposed legislation on the floor of the Senate Monday night. Warren argued the bill doesn't prohibit President Trump and his family from profiting off stablecoins, nor does it provide enough protections for financial system stability. Other Democrats, including Sens. Kirsten Gillibrand of New York and Angela Alsobrooks of Maryland, pulled together enough support to keep the bill going and overcome opposition from the Warren camp. Key Democrats who supported Monday's procedural vote include Sens. Mark Warner of Virginia and Ruben Gallego of Arizona. Stablecoins are cryptocurrencies pegged to other assets, such as the US dollar, but they would not be protected by any sort of deposit insurance, as bank accounts are. This bill, however, would bar stablecoin accounts from offering interest to depositors — in a win for bank lobbyists. The Trump family is already in the stablecoin business. World Liberty Financial, a new crypto startup backed by Trump and his sons, last month unveiled plans to mint its own US-dollar-pegged stablecoin in partnership with BitGo. Read more: Trump has called for a strategic bitcoin reserve. How it would work. That stablecoin was then picked as the payment vehicle for a $2 billion investment into Binance from state-owned Abu Dhabi investment firm MGX. Some Democratic opposition to the bill faded, however, as some argued that the Trump ties to crypto should not stand in the way of establishing rules around stablecoins. Some in the industry argued that without the regulations outlined in the bill, there could be a repeat of what happened in 2022 when the unregulated algorithmic stablecoin Terra Luna crashed. That wiped out $60 billion in value, including money held by American consumers, in less than 72 hours. The Senate will now debate the stablecoin bill while also giving senators the option to offer amendments. From there, the Senate would vote on those amendments and would need another 60 votes to gain cloture to proceed to a final vote on the bill. The legislation that advanced in the Senate Monday night holds stablecoin issuers to strict reserve requirements, requiring them to maintain one-to-one reserves in cash and cash equivalents. It also bans unbacked, algorithmic stablecoins. Issuers must comply with monthly public disclosures of reserves. Issuers with $50 billion or more in total issuance must submit annual audited financial statements and disclose affiliated transactions to regulators. It also includes a broad savings clause guaranteeing the application of existing federal consumer protection laws, including but not limited to the protections extended by the Consumer Financial Protection Bureau and the Federal Trade Commission. The bill also closes a loophole that could have allowed non-permitted offshore stablecoin issuers to offer their products on US-regulated exchanges and empowers the Treasury secretary to delist non-compliant foreign issuers. Foreign stablecoin issuers in the US will be subject to the same rules as domestic issuers. One current issuer based outside the country, Tether, would either need to make its entire business compliant or create a US subsidiary that is in compliance. Stablecoin issuers will also be held to bank-like standards regarding anti-money-laundering requirements, sanctions compliance, and requirements under the Bank Secrecy Act. The bill also prohibits Big Tech companies like Meta (META) and Amazon (AMZN) from issuing stablecoins unless they can meet strict criteria regarding financial risk, consumer data privacy, and fair business standards. The bill's sponsor, Sen. Bill Hagerty, has said that Citigroup estimates that a US regulatory framework for stablecoins would drive significant new demand for US Treasurys, which could make them the largest combined holders of Treasurys by 2030. Currently, if combined, all current US dollar-denominated stablecoins would be the 14th-largest sovereign holder. Some Democrats criticized that the bill still provides foreign-issued stablecoins, like Tether, multiple avenues to access US markets while evading the bill's basic regulatory requirements. They also contend that if enacted in its current form, consumers may have fewer basic protections when using stablecoins than they do when using Venmo or their bank account. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Crypto scores a victory as stablecoin legislation stays alive in Senate
A bill to regulate stablecoins passed a key procedural hurdle in the Senate Monday night, paving a path for final passage of legislation pushed by the crypto industry as early as this week. The bill still faces hurdles by some Democrats including Sen. Elizabeth Warren, who argued against the proposed legislation on the floor of the Senate Monday night. Warren argued the bill doesn't prohibit President Trump and his family from profiting off stablecoins, nor does it provide enough protections for financial system stability. Other Democrats, including Sen. Kirsten Gillibrand of New York and Sen. Angela Alsobrooks of Maryland, pulled together enough support to keep the bill going and overcome opposition from the Warren camp. Key Democrats who supported Monday's procedural vote include Sen. Mark Warner of Virginia and Sen. Ruben Gallego of Arizona. Stablecoins are cryptocurrencies pegged to other assets, such as the US dollar, but they would not be protected by any sort of deposit insurance — as bank accounts are. This bill, however, would bar stablecoin accounts from offering interest to depositors — in a win for bank lobbyists. The Trump family is already in the stablecoin business. World Liberty Financial, a new crypto startup backed by Trump and his sons, last month unveiled plans to mint its own US-dollar-pegged stablecoin in partnership with BitGo. That stablecoin was then picked as the payment vehicle for a $2 billion investment into Binance from state-owned Abu Dhabi investment firm MGX. Some Democratic opposition to the bill faded, however, as some argued that the Trump ties to crypto should not stand in the way of establishing rules around stablecoins. Some in the industry argued that without the regulations outlined in the bill there could be a repeat of what happened in 2022 when unregulated algorithmic stablecoin Terra Luna crashed. That wiped out $60 billion in value, including money held by American consumers, in less than 72 hours. The Senate will now debate the stablecoin bill while also giving senators the option to offer amendments. From there the Senate would vote on those amendments and would need another 60 votes to gain cloture to proceed to a final vote on the bill. The legislation that advanced in the Senate Monday night holds stablecoin issuers to strict reserve requirements, requiring them to maintain one-to-one reserves in cash and cash equivalents. It also bans unbacked, algorithmic stablecoins. Issuers must comply with monthly public disclosures of reserves. Issuers with $50 billion or more in total issuance must submit annual audited financial statements and disclose affiliated transactions to regulators. It also includes a broad savings clause guaranteeing the application of existing federal consumer protection laws, including but not limited to the protections extended by the Consumer Financial Protection Bureau and the Federal Trade Commission. The bill also closes a loophole that could have allowed non-permitted offshore stablecoin issuers to offer their products on U.S. regulated exchanges and empowers the Treasury Secretary to delist noncompliant foreign issuers. Foreign stablecoin issuers in the U.S. will be subject to the same rules as domestic issuers. One current issuer based outside the country, Tether, would either need to make their entire business compliant or create a U.S. subsidiary that is in compliance. Stablecoin issuers will also be held to bank-like standards regarding anti money-laundering requirements, sanctions compliance, and requirements under the Bank Secrecy Act. The bill also prohibits Big Tech companies like Meta and Amazon from issuing stablecoins unless they can meet strict criteria regarding financial risk, consumer data privacy, and fair business standards. The bill's sponsor, Sen. Bill Hagerty, has said that Citigroup estimates that a US regulatory framework for stablecoins would drive significant new demand for US Treasuries, which could make them the largest combined holders of Treasuries by 2030. Currently, if combined, all current U.S. dollar denominated stablecoins would be the 14th largest sovereign holder. Some Democrats criticized that the bill still provides foreign issued stablecoins, like Tether, multiple avenues to access U.S. markets while evading the bill's basic regulatory requirements. They also contend that if enacted in its current form, consumers may have fewer basic protections when using stablecoins than they do when using Venmo or their bank account. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Crypto scores a victory as stablecoin legislation stays alive in Senate
A bill to regulate stablecoins passed a key procedural hurdle in the Senate Monday night, paving a path for final passage of legislation pushed by the crypto industry as early as this week. The bill still faces hurdles by some Democrats including Sen. Elizabeth Warren, who argued against the proposed legislation on the floor of the Senate Monday night. Warren argued the bill doesn't prohibit President Trump and his family from profiting off stablecoins, nor does it provide enough protections for financial system stability. Other Democrats, including Sen. Kirsten Gillibrand of New York and Sen. Angela Alsobrooks of Maryland, pulled together enough support to keep the bill going and overcome opposition from the Warren camp. Key Democrats who supported Monday's procedural vote include Sen. Mark Warner of Virginia and Sen. Ruben Gallego of Arizona. Stablecoins are cryptocurrencies pegged to other assets, such as the US dollar, but they would not be protected by any sort of deposit insurance — as bank accounts are. This bill, however, would bar stablecoin accounts from offering interest to depositors — in a win for bank lobbyists. The Trump family is already in the stablecoin business. World Liberty Financial, a new crypto startup backed by Trump and his sons, last month unveiled plans to mint its own US-dollar-pegged stablecoin in partnership with BitGo. That stablecoin was then picked as the payment vehicle for a $2 billion investment into Binance from state-owned Abu Dhabi investment firm MGX. Some Democratic opposition to the bill faded, however, as some argued that the Trump ties to crypto should not stand in the way of establishing rules around stablecoins. Some in the industry argued that without the regulations outlined in the bill there could be a repeat of what happened in 2022 when unregulated algorithmic stablecoin Terra Luna crashed. That wiped out $60 billion in value, including money held by American consumers, in less than 72 hours. The Senate will now debate the stablecoin bill while also giving senators the option to offer amendments. From there the Senate would vote on those amendments and would need another 60 votes to gain cloture to proceed to a final vote on the bill. The legislation that advanced in the Senate Monday night holds stablecoin issuers to strict reserve requirements, requiring them to maintain one-to-one reserves in cash and cash equivalents. It also bans unbacked, algorithmic stablecoins. Issuers must comply with monthly public disclosures of reserves. Issuers with $50 billion or more in total issuance must submit annual audited financial statements and disclose affiliated transactions to regulators. It also includes a broad savings clause guaranteeing the application of existing federal consumer protection laws, including but not limited to the protections extended by the Consumer Financial Protection Bureau and the Federal Trade Commission. The bill also closes a loophole that could have allowed non-permitted offshore stablecoin issuers to offer their products on U.S. regulated exchanges and empowers the Treasury Secretary to delist noncompliant foreign issuers. Foreign stablecoin issuers in the U.S. will be subject to the same rules as domestic issuers. One current issuer based outside the country, Tether, would either need to make their entire business compliant or create a U.S. subsidiary that is in compliance. Stablecoin issuers will also be held to bank-like standards regarding anti money-laundering requirements, sanctions compliance, and requirements under the Bank Secrecy Act. The bill also prohibits Big Tech companies like Meta and Amazon from issuing stablecoins unless they can meet strict criteria regarding financial risk, consumer data privacy, and fair business standards. The bill's sponsor, Sen. Bill Hagerty, has said that Citigroup estimates that a US regulatory framework for stablecoins would drive significant new demand for US Treasuries, which could make them the largest combined holders of Treasuries by 2030. Currently, if combined, all current U.S. dollar denominated stablecoins would be the 14th largest sovereign holder. Some Democrats criticized that the bill still provides foreign issued stablecoins, like Tether, multiple avenues to access U.S. markets while evading the bill's basic regulatory requirements. They also contend that if enacted in its current form, consumers may have fewer basic protections when using stablecoins than they do when using Venmo or their bank account. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
