Crypto Terraform files for US bankruptcy | Tesla teases mass market EV in 2025

Crypto Terraform files for bankruptcy in US

The cryptocurrency firm collapsed in May after losing $40 billion in value and contributing to the 2022 cryptocrash. Its co-founder Do Kwon is currently in jail in Montenegro after been found guilty of forging documents.

Kwon has been charged with defrauding investors by US regulators and is awaiting extradition. He also faces fraud charges in South Korea, his native country, where he could be extradited.

Announcing the bankruptcy filing, Terraform Labs chief executive Chris Amani said: “This action is necessary to allow us to continue working toward our collective goals while resolving the legal challenges that remain outstanding.”

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Tesla teases new mass market electric vehicle in 2025

The automotive manufacturer has communicated with suppliers that it wants to begin production of a new mass market electric vehicle codenamed “Redwood”.

Tesla CEO Elon Musk has long stimulated fans’ and investors’ appetites for affordable electric vehicles and self-driving robotaxis that are expected to be made on next-generation, cheaper electric car platforms.

Reuters reported that sources familiar with the matter said Tesla sent “requests for quotes,” or invitation for bids for the “Redwood” model, to suppliers last year, and forecast weekly production volume of 10,000 vehicles. They also added production would begin in June 2025.

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Wise and Skype’s Plural raises $436m to build tech giants in Europe

Plural, a venture firm created by Wise and Skype founders, has raised 400 million euros to back new startups in Europe to compete with established funds like Atomico, Balderton Capital and Creandum.

The funds were raised from a mix of limited partners, including British and American university endowments, US foundations and insurers, strategic family offices in Europe and America.

Plural’s co-founder Taavet Hinrikus, said that it will serve as a better alternative to startups in Europe than most venture capital funds, given that it was started by people with the “scar tissue” of proven entrepreneurs. Only 8% of VCs in Europe are former founders, he says, much lower than the 60% in the United States.

“If we look at a lot of VC funds, you have lots of people who have done great work with spreadsheets, not with startup life,” Hinrikus said in an interview. “In our case, it is seen as a core criteria for choosing our partners that they’re totally unemployable.”

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Disinformation attacks targeted voters, media and LGBTQ+ group

The research highlights the potential on digital weaponry to undermine Ukraine but also to spread fake news during elections in Poland and Spain.

Ukraine was the most frequently attacked but 149 entities including media organisations such as Euronews, Reuters, Deutsche Welle and the New York Times and LGBTQ+ organisation were also targeted.

Among the digital weapons used to attack were “bullying, harassment or threats” the report said. “The goal is not only to shape the global narratives, but also to suppress and silence dissenting voices,” it added.

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