Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. SEC sues Terraform Labs, Do Kwon</h2>The U.S. SEC has sued Terraform Labs and its co-founder Do Kwon.It alleges that Terraform and Kwon misled investors on a number of issues, including who was using TerraUSD for payments, and called both Anchor Protocol and the LUNA token &#34;crypto asset securities&#34;.&#34;Terraform and Kwon also misled investors about… the stability of UST, the algorithmic &#39;stablecoin&#39; purportedly pegged to the U.S. dollar,&#34; the suit said.Source: <a href="https://www.google.com/amp/s/www.coindesk.com/policy/2023/02/16/sec-set-to-sue-terraform-labs-do-kwon-for-misleading-investors-on-terrausd-stablecoin-bloomberg/%3foutputType&#61;amp" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-1">#2. DeFi Protocol Platypus suffers $8.5M attack</h2>Platypus Finance suffered a $8.5 million flash-loan attack on Thursday.Platypus USD (USP), the protocol’s stablecoin, lost its price peg to the dollar as a result of the exploit, falling to 48 cents according to CoinGecko.Platypus is an automated market maker built on the Avalanche blockchain where crypto traders can swap stablecoins.Source: <a href="https://www.coindesk.com/markets/2023/02/16/usp-stablecoin-loses-dollar-peg-as-defi-protocol-platypus-suffers-85m-attack/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-2">#3. Canada may tighten rules for crypto exchanges</h2>Later this month, the Canadian Securities Administrators (CSA) will tighten requirements for cryptocurrency exchanges operating in the country, according to two people who have been briefed on the plans.The collapse of FTX, among other failings in the crypto industry, has speeded the resolve of the CSA.It announced last year that it required certain compliance “commitments” from unregistered crypto trading platforms operating in Canada while they pursue registration.The CSA declined to discuss updates to the pre-registration undertaking (PRU) regime, but said it would “publish additional details in the near future.”Source: <a href="https://www.coindesk.com/policy/2023/02/16/canada-close-to-tightening-rules-for-crypto-exchanges-sources/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-3">#4. Crypto investors spent $4.6B buying  &#39;pump and dump&#39; tokens last year</h2>A report by blockchain analytics firm Chainalysis found that over 9,900 tokens launched on the BNB Chain and Ethereum in 2022 had characteristics of a &#39;pump and dump&#39; scheme.Chainalysis estimated investors spent $4.6 billion worth of crypto buying such tokens.The most prolific &#39;pump and dump&#39; creator allegedly launched 264 such tokens last year.Source: <a href="https://cointelegraph.com/news/crypto-investors-spent-4-6b-buying-pump-and-dump-tokens-last-year" rel="noopener noreferrer nofollow">Cointelegraph</a><h2 id="header-4">#5. Terra lawsuit a ‘roadmap’ to attack other stablecoins</h2>Gabriel Shapiro, general counsel at investment firm Delphi Labs, thinks that the U.S. SEC lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as a “roadmap” to taking down other stablecoins.He tweeted that the SEC’s arguments in its complaint against Kwon and Terraform were “more thorough than usual.”He acknowledged that the SEC applied the four prongs of the Howey Test to argue that USTC, LUNC and wLUNA are all constituted securities under U.S. securities laws.Source: <a href="https://cointelegraph.com/news/terra-lawsuit-a-roadmap-to-attack-other-stablecoins-delphi-labs" rel="noopener noreferrer nofollow">Cointelegraph</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/cmccommunity" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/ApolloX_Finance" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_Finance" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXFinance" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_finance/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://coinmarketcap.com/community/profile/ApolloX" rel="noopener noreferrer nofollow">CMC</a>

Crypto News of the Day: U.S. SEC sues Do Kwon and Terraform Labs, Over 9.9k tokens in 2022 suspected to be ‘pump and dump’ schemes

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