Keonne Rodriguez, the co-founder of Samourai Wallet, performed a legal maneuver that’s become somewhat of a unicorn in today’s judicial circus: pleading not guilty. 

Related: Samourai Wallet Creators Arrested in Money-Laundering 100 Million Scandal

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In a space where money laundering allegations have become the modern-day equivalent of peanut butter and jelly, Rodriguez has opted for the road less traveled. And what’s more? He’s been sprung on bail. 

The Justice Department might have considered opening the door for him to stroll out casually like he’d just cracked the code on level one for his white-collar crime allegations. Ah, the plot thickens like a particularly watery cryptocurrency portfolio that once held meme coins but is now filled with  L1s and L2s.

Source: Tenor

Keonne Rodrigue graced the U.S. District Court for the Southern District of New York with his presence on April 29. And what was on the menu? According to court documents, a hearty helping of “not guilty” pleas served with a side of conspiracy to operate an unlicensed money transmitting business and a dash of money laundering. Quite the smorgasbord, wouldn’t you say?

Keonne Rodriguez Travel Restrictions

But here comes the kicker: Assistant U.S. Attorneys, a team composed of purveyors of justice with a penchant for drama, graciously extended an invitation to the tune of a $1 million bond for our dear co-founder of Samourai Wallet. Only in this case they threw in some travel restrictions. Which means whenever Rodriguez is not enjoying the cozy confines of his abode, he’ll be free to roam the bustling streets of New York and Pennsylvania, provided he sticks to designated areas.

The thing Rodriguez may not like about the bail is this: He is now the proud owner of a wearable he will have to accessorize everywhere he goes, a monitoring device to gaze at his location at all times.

Terraform Labs Proposes $1M For SEC Penalty

Elsewhere, the stage is set for epic proportions.

Lawyers representing Terraform Labs, the intrepid guardians of crypto convicts, have thrown down the gauntlet in opposition to none other than the United States Securities and Exchange Commission (SEC). And what’s at stake? A cool $5.3 billion in disgorgement and civil penalties, a sum that would make even the most seasoned Wall Street tycoon file for appeal.

Terraform Labs and its co-founder Do Kwon are not going down without a fight. If it takes a thriller in maniller to get the SEC to pay $1 M in damages, then let it be. The legal team has mounted a valiant defense, armed with court filings from previous years, knowledge of what has to be done, and legal jargon sharper than a double-edged sword. 

Source: Tenor

As the stakes reach dizzying heights, one can’t help but marvel at the sheer audacity of it all. Will Terraform Labs win, or will the SEC wield its regulatory hammer with impunity?

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Terraform’s legal team took center stage in the U.S. District Court for the Southern District of New York on April 26, where they proposed a modest $1 million civil penalty following a court ruling that found Kwon and the business guilty of fraud. As per Terraform Labs, the court should not provide disgorgement or injunctive relief since the funds will be obtained from the civil case’ non-party, the Luna Foundation Guard.

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