Google cites a 40% drop in invalid ad traffic from deceptive serving, helping protect budgets and keep billing clean for advertisers.
Pokemon GO Ho-Oh Raid Hour is set to be one of August’s biggest events, offering boosted raid spawns, shiny chances, and valuable rewards. Whether you’re aiming to strengthen your PvE lineup, climb the PvP ranks, or simply grab the golden Shiny Ho-Oh, this Pokemon GO Ho-Oh Raid Hour preparation guide covers everything you need to know to get the most out of this Legendary encounter.
• Ho-Oh in 5-Star Raids: August 11, 2025, 10 AM – August 18, 2025, 10 AM local time • Raid Hour: August 13, 2025, 6 PM – 7 PM local time • Shiny Ho-Oh: Available during the event with an estimated 1 in 20 shiny rate • Raid Locations: Nearly all gyms will host Ho-Oh raids during Raid Hour, maximizing encounter opportunities
• Increased Ho-Oh spawns across gyms during the Raid Hour • Shiny Ho-Oh encounters possible during all raids in the event window • Standard five-star raid rewards: Rare Candies, Golden Razz Berries, Charged/Fast TMs, XL Candies, and boosted catch XP • Possible seasonal perks: 2× catch candy, higher XL Candy drop rate for level 31+, ¼ egg hatch distance, extra special trades (check in-game news for confirmation) • Remote raiding and coordination tools like Niantic Campfire available for global team-ups • No extra free passes – regular and premium passes apply
Ho-Oh in the Pokemon Anime (Image via The Pokemon Company)
• Type: Fire / Flying • 100% IV Catch CP: 2,207 (Normal), 2,759 (Sunny/Windy boosted)
• Fast Moves: Incinerate, Steel Wing, Extrasensory, Hidden Power • Charged Moves: Sacred Fire, Brave Bird, Fire Blast, Solar Beam, Earthquake • Weaknesses: 4× Rock; also weak to Water and Electric • Resistances: Fire, Flying, Steel, Fighting, Fairy, Bug, Grass
| Pokemon | Fast Move | Charged Move |
| Mega Diancie | Rock Throw | Rock Slide |
| Shadow Rampardos | Smack Down | Rock Slide |
| Rhyperior | Smack Down | Rock Wrecker |
| Tyrantrum | Rock Throw | Meteor Beam |
| Terrakion | Smack Down | Rock Slide |
| Mega Aerodactyl | Rock Throw | Rock Slide |
| Mega Tyranitar | Smack Down | Stone Edge |
Tip: Mega evolve a Rock-type before raiding to boost your team’s Rock damage and gain extra candy for each capture.
• Stock Raid Passes: Collect free passes from gyms and buy Premium/Remote Passes in advance • Healing Items: Potions and Revives for at least three raid teams – Ho-Oh’s moves hit hard • Catching Items: Golden Razz Berries for secure catches, Pinaps for candy, Nanabs to stabilize jumpy Ho-Oh • Group Coordination: Use Campfire, Discord, or local communities for raid chaining and invites • Power Bank: Keep your phone charged for an hour of continuous play
• Route Planning: Map gyms close together for rapid movement • Team Size: 3 – 4 high-level players or 6+ casual players recommended for efficient clears • Mega Evolution Timing: Always have a Mega Rock-type active • Lucky Eggs & Star Pieces: Coordinate with your group to stretch double XP and Stardust bonuses • Lures: Keep gyms lured for extra wild spawns while stationary raiding
Ho-Oh in the main series game (Image via The Pokemon Company)
• Aim for curveball Excellent throws for the highest catch rate • Golden Razz Berries are best for shiny or high-IV encounters • Weather boosts (Sunny/Windy) can improve IV potential but make Ho-Oh stronger in battle
• Solid Fire-type attacker with Sacred Fire, though outclassed by Mega/Shadow Fire-types • Not a top Flying-type due to lack of a strong Flying quick move • Shadow Ho-Oh (when available) offers more PvE power but is costlier to build
• Strong Master League option with good coverage (Brave Bird, Sacred Fire, Earthquake) and bulk • Not meta-breaking, but effective in the right hands
• Golden shiny form is highly sought after • Raid Hour is prime time for high-IV or 100% IV hunting
• Raid if: You need a solid Fire attacker, a Master League option, or are shiny hunting • Skip if: You already have top Fire-type counters and a strong Ho-Oh from previous eventsFor most trainers, Ho-Oh is worth raiding during this event. Its legendary status, PvP viability, unique typing, and shiny appeal make it a great target – especially during a dedicated Raid Hour. Gather your best Rock-types, plan your route, and aim for as many raids as possible to maximize your odds of catching this majestic rainbow bird.We hope our Pokemon GO Ho-Oh Raid Hour preparation guide has been useful. Follow TOI Pokemon for more news on everything happening across the vast Pokeverse.
From self-driving cars to facial recognition, modern life is growing more dependent on machine learning, a type of artificial intelligence (AI) that learns from datasets without explicit programming.
Despite its omnipresence in society, we’re just beginning to understand the mechanisms driving the technology. In a recent study Zhengkang (Kevin) Zhang, assistant professor in the University of Utah’s Department of Physics & Astronomy, demonstrated how physicists can play an important role in unraveling its mysteries.
“People used to say machine learning is a black box—you input a lot of data and at some point, it reasons and speaks and makes decisions like humans do. It feels like magic because we don’t really know how it works,” said Zhang. “Now that we’re using AI across many critical sectors of society, we have to understand what our machine learning models are really doing—why something works or why something doesn’t work.”
As a theoretical particle physicist, Zhang explains the world around him by understanding how the smallest, most fundamental components of matter behave in an infinitesimal world. Over the past few years, he’s applied the tools of his field to better understand machine learning’s massively complex models.
The traditional way to program a computer is with detailed instructions for completing a task. Say you wanted software that can spot irregularities on a CT scan. A programmer would have to write step-by-step protocols for countless potential scenarios.
Instead, a machine learning model trains itself. A human programmer supplies relevant data—text, numbers, photos, transactions, medical images—and lets the model find patterns or make predictions on its own.
Throughout the process, a human can tweak the parameters to get more accurate results without knowing how the model uses the data input to deliver the output.
Machine learning is energy intensive and wildly expensive. To maximize profits, industry trains models on smaller datasets before scaling them up to real-world scenarios with much larger volumes of data.
“We want to be able to predict how much better the model will do at scale. If you double the size of the model or double the size of the dataset, does the model become two times better? Four times better?” said Zhang.
A machine learning model looks simple: Input data—>black box of computing—>output that’s a function of the input.
The black box contains a neural network, which is a suite of simple operations connected in a web to approximate complicated functions. To optimize the network’s performance, programmers have conventionally relied on trial and error, fine-tuning and re-training the network and racking up costs.
“Being trained as a physicist, I would like to understand better what is really going on to avoid relying on trial and error,” Zhang said. “What are the properties of a machine learning model that give it the capability to learn to do things we wanted it to do?”
In a new paper published in the journal Machine Learning: Science and Technology, Zhang solved a proposed model’s scaling laws, which describe how the system will perform at larger and larger scales. It’s not easy—the calculations require adding up to an infinite number of terms.
Zhang applied a method that physicists use to track hundreds of thousands of terms, called Feynman diagrams. Richard Feynman invented the technique in the 1940s to deal with hopelessly complicated calculations of elementary particles in the quantum realm. Instead of writing down algebraic equations, Feynman drew simple diagrams—every line and vertex in the diagram represents a value.
“It’s so much easier for our brains to grasp, and also easier to keep track of what kind of terms enter your calculation,” Zhang said.
Zhang used Feynman diagrams to solve a model posed in published research from 2022. In that paper, the physicists studied their model in a particular limit. Zhang was able to solve the model beyond that limit, obtaining new and more precise scaling laws that govern its behavior.
As society runs headfirst into AI, many researchers are working to ensure the tools are being used safely. Zhang believes that physicists can join the engineers, computer scientists and others working to use AI responsibly.
“We humans are building machines that are already controlling us—YouTube algorithms that recommend videos that suck each person into their own little corners and influence our behavior,” Zhang said. “That’s the danger of how AI is going to change humanity—it’s not about robots colonizing and enslaving humans. It’s that we humans build machines that we are struggling to understand, and our lives are already deeply influenced by these machines.”
Great news, kids (and potentially fairly annoying news, parents?) — much more CoComelon is on the way, now including a live-action series.
The smash-hit preschool brand will premiere The Melon Patch Sept. 23 on YouTube, Moonbug announced on Tuesday. Brace your youngest ones now, because Ms. Appleberry is coming to life. This has the potential to go either way with the target-audience’s (very) developing brains. CoComelon is a giant, averaging more than four billion monthly views on YouTube. It’s also been a regular presence on Netflix’s top 10.
Appleberry, who will be played by Allie Rivera Quiñonez, has a (“vibrant interactive”) classroom to run — the learning, growing, and playing doesn’t just happen all on its own, you know. Ms. Appleberry will have the help of Mr. Doodad the imaginative art teacher, Mr. Acorn the nature and exploration expert, Ms. Twist the dance and movement coach, puppets Jelly Bean and Neighomi, and some unnamed (for now) guest stars.
Save Appleberry, those are all new characters; she’s been with CoComelon since before your preschooler was born. The original CoComelon, by the way, is moving from Netflix to Disney+ in 2027. So if you’re currently pregnant, maybe prepare for that. An animated CoComelon film from Universal Pictures is in the works for release the same year.
The Melon Patch will consist of 25-minute episodes blending music, story, movement and art in a way to “keep little learners engaged while exploring milestones like bath time, textures, big feelings and the joy of music,” the announcement reads.
“With The Melon Patch, we’ve created a joyful space where kids can learn through music, play, and the warmth of a teacher they know and love, Ms. Appleberry,” said Nicole Rivera, senior creative executive at CoComelon. “She helps make every lesson feel like an adventure, blending songs, stories, and real-life learning in a way that’s as fun as it is meaningful.”
The new series’ curriculum was developed by early childhood education expert, Dr. Natascha Crandall. Parenting consultant Clarice F. Dionisio, M.A., CLE, IBCLC, advised on the show’s structure to ensure it meets the needs of kids and their caregivers. In other words, Moonbug is saying this is not empty calories — or totally wasted screen time — for the kiddos.
“The Melon Patch offers children the foundations for lifelong learning and well-being,” Dr. Crandall said. “By using the fundamentals of child development, this show meets children where they are and helps them rise to reach their next milestones with greater ease.”
CoComelon will also launch the soundtrack, CoComelon Nursery Rhymes (Songs From ‘The Melon Patch’), on Sept. 19.
Oliver Pfaar, MD
Credit: LinkedIn
A study using patient feedback and RESONATE data suggests that a phase 3 allergen immunotherapy trial should show at least a -0.22-point reduction on the Combined Symptom and Medication Score (CSMS or the CSM0-6) scale and a 16% improvement on the composite primary endpoint to be considered successful.1
“An interesting additional finding is that this is the first time that a relative MCID for CSMS0–6 ranging from approximately −17% to −15% has been verified based on two independent methods (i.e., a patient survey and a data analysis approach,” wrote investigators, led by Oliver Pfaar, MD, from the department of otorhinolaryngology, head and neck surgery at the University Hospital Marburg, Philipps-Universität Marburg, in Germany.1
Regulatory authorities recommend a combination of symptom and medication scores during the grass pollen season as the primary endpoint for phase 3 allergen immunotherapy trials targeting allergic rhinoconjunctivitis. Like many European regulatory authorities, the European Academy of Allergy and Clinical Immunology (EAACI) proposed the CSM0-6 as the primary endpoint of these trials.
Although many composite primary endpoint scales exist, none are validated. They also do not have a justified minimal clinically important difference (MCID). Trials have proposed an MCID to be either a 2-point improvement in a single allergy symptom (i.e., “moderate” to “none” or “severe” to “mild”) or a 1-point improvement (“moderate” to “mild” or “severe” to “moderate”
To investigators’ surprise, no patient surveys were published to validate these MCID definitions against actual patient populations. The team conducted a survey on 1071 patients with moderate to severe grass allergies to validate and determine MCID thresholds for phase 3 allergen immunotherapy trials. They also analyzed data from RESONATE, a phase 3 trial of Pollinex Quattro Grass (27600 SU cumulative dose), which measured a combined score and medication score as its primary endpoints.2
More than half of patients with a grass allergy (69%) were satisfied with a 1-point improvement in their most severe symptom. The analysis showed that an MCID for the CSM0-6 scale between -0.23 to -0.21 points, or -17% to -16%, can be justified as a threshold.1
Few participants (14.8%) considered a ≥ 2-point improvement in the single most severe symptom or ≥ 1 point improvement in each of the 2 most severe symptoms clinically important for a grass allergy product.
Phase 3 trials on registered SLIT grass tablets established that a -0.34-point improvement in the Rhinitis Quality of Life Questionnaire compared to placebo is clinically meaningful. Using this as a benchmark, the RESONATE study determined that a -0.21-point (16%) reduction in CSM0-6 score represents a meaningful improvement.1
The study found participants had significantly improved combined symptom and medication scores at peak grass pollen season and across the whole season. Eye symptoms improved the most (P < .0001), followed by nasal symptoms and daily activity limitations.
Investigators highlighted several limitations, including the fact that the MCID for CSM0-6 score may depend on the type of respiratory allergen causing the allergic rhinitis or conjunctivitis. Additionally, the study only uses the symptom component of the composite CSM0-6 score, which assumes no change in medication use.
“In conclusion, a patient-centric approach was applied to establish the MCID for the EAACI recommended CSMS0-6, which is generally accepted as the primary endpoint for pivotal Phase III AIT clinical trials,” investigators concluded.1 “These results revealed that an approximately 1-point improvement on the single most severe symptom score after a grass allergy product was considered clinically relevant by most grass-allergic patients.”
References
An advisory was issued about a critical vulnerability in the popular Tutor LMS Pro WordPress plugin. The vulnerability, rated 8.8 on a scale of 1 to 10, allows an authenticated attacker to extract sensitive information from the WordPress database. The vulnerability affects all versions up to and including 3.7.0.
The vulnerability results from improper handling of user-supplied data, enabling attackers to inject SQL code into a database query. The Wordfence advisory explains:
“The Tutor LMS Pro – eLearning and online course solution plugin for WordPress is vulnerable to time-based SQL Injection via the ‘order’ parameter used in the get_submitted_assignments() function in all versions up to, and including, 3.7.0 due to insufficient escaping on the user supplied parameter and lack of sufficient preparation on the existing SQL query. “
A time-based SQL injection attack is one in which an attacker determines whether a query is valid by measuring how long the database takes to respond. An attacker could use the vulnerable order parameter to insert SQL code that delays the database’s response. By timing these delays, the attacker can deduce information stored in the database.
While exploitation requires authenticated access, a successful exploitation of the flaw could be used to access sensitive information. Updating to the latest version, 3.7.1 or higher is recommended.
Featured Image by Shutterstock/Ollyy
“Right now, there are so many surfers who are getting paid because they’re really good in front of the camera, more than for their ability in the water — and I think that’s kinda bullshit,” said Logan ‘Chucky’ Dulien, in our most recent How Surfers Get Paid episode. “I feel that the guy that surfs the best deserves the money, more than the guy who’s good at putting the phone in front of himself and taking selfies.”
The above quote is an excerpt from Logan’s explanation of how he secured Clay Marzo a deal with RVCA, after paying for the Hawaiian’s travel and filming costs for years. Not to mention, he’s covered Mateus Herdy’s 2025 Challenger Series campaign, up until last week, when Mateus got sponsored by Rivvia, starred in the Snapt 5 world premiere, and came second in the USO, in that order.
Of course, Mateus and Clay aren’t the only benefactors of Logan’s baffling kindness — with the Snapt films and a few other surfers travel budgets hanging on the financial coattails of River Jetties’ most barreled philanthropist.
Logan’s benevolence is a fact that BVPS acknowledges in the comment section of the recent How Surfers Get Paid episode — and one that wins ‘em July’s comment of the month.
2x COTM winner Mr. Cheddar also adds some very important context, which you can read about here.
BVPS, please send us an email at [email protected] with screenshot proof of your Disqus account. You just won a free year of Stab Premium and you will be entered in the running for the mega-prize for “Comment of the Year” at then end of, you guessed it, the year.
If you remember from this article, BVPS will now be one of 12 commenters (one for each month) that will be a candidate for COTY. He’ll be sparring against 11 other keyboard vermin for top honors.
And yes, we know it’s the middle of August. Better late than never.
Taylor Swift is not typically one to center her boyfriends.
I know that contradicts the party line that Swift’s critics began to hawk when she was a teenager — that she’s either a besotted, boy-crazy mess or a serial man-eater, depending on whom you ask.
Yes, Swift writes songs about falling in love, breaking up, and every stage of romance in between. (She also writes songs about many other topics, including friendship, fame, sexism, and more, but that’s a lecture for another day.) But as a public figure and music industry tycoon, Swift has largely avoided mixing business and pleasure — until now.
At 12:12 a.m. on Tuesday morning, Swift announced the title of her 12th album, “The Life of a Showgirl.” But instead of doing it on her social media accounts, a livestream, or during her Grammys acceptance speech, she gave the exclusive to her boyfriend Travis Kelce’s football podcast.
Swift sits next to Kelce in a teaser clip from his “New Heights” podcast, which the NFL star co-hosts with his brother Jason. “I wanted to show you something,” Swift tells Jason, reaching for a mint green briefcase labeled “T.S.” She opens it while announcing the record’s title, though the album’s cover is blurred out.
For a different celebrity, announcing your latest project on a partner’s podcast might not be a big deal. But Swift’s star power is such that she doesn’t need anyone else to promote her music. For years, she has pulled back from traditional media opportunities like magazine covers and late-night TV appearances, instead relying on the self-contained machine of her website and verified social media accounts to communicate news to her fans.
Glimpses of her private life were similarly limited. Swift spent the previous six or so years evading public scenes with her then-boyfriend, Joe Alwyn, dodging questions about their relationship and executing minimal album rollouts — no lead singles, very rare interviews, and certainly no sports podcasts.
Swift’s relationship with Kelce, whom she began dating in 2023, has marked a new era for the pop star’s public persona. It’s not that Swift hasn’t dabbled in the customary celebrity-in-love playbook before; she’s executed plenty of paparazzi walks and award-show date nights. It’s not even the first time she’s involved a boyfriend in her creative pursuits: She wrote the lyrics for then-boyfriend Calvin Harris’ 2016 hit “This Is What You Came For,” while she and Alwyn cowrote multiple songs for her surprise 2020 album “Folklore” while they were dating. It’s that those collaborations were always under pseudonyms and revealed after the fact, as Swift worked hard to center herself in her own work, rather than muddying her career moves by putting even more attention on her love life.
With Kelce, Swift is proudly involving him every step of the way. Swift has cheered for Kelce at seemingly every football game she can manage, even as she was busy touring the world. Kelce returned the favor by attending several Eras Tour shows, where Swift would sometimes change her own lyrics to honor his presence. (Who among us could forget the first time she sang, “Karma is the guy on the Chiefs, coming straight home to me,” in Buenos Aires?) The couple even shocked fans with the ultimate hard launch, when Swift welcomed Kelce onstage for a surprise cameo, signaling a decisive shift in her drive for publicity around her relationship.
Both Swift and Kelce have publicly put emphasis on their bond as equal partners and supporters, something Kelce reiterated in an expertly timed GQ cover interview published mere hours after Swift’s album announcement.
“I get to go and be that fan,” Kelce told GQ of attending Swift’s concerts. “Because I am a fan. I’m a fan of music. I’m a fan of art. And it’s so cool that I get to experience her being that plus one for me on the football field…. I feel that same enjoyment every time she comes to my shows.”
Their synergy quickly began to work in Kelce’s favor. Swift’s high-profile fandom sparked an unprecedented surge in NFL viewership, especially among younger girls, and a marked increase in Kelce’s jersey sales.
Eric Thomas/Getty Images
Swift launching her next era with Kelce by her side suggests that Swift considers Kelce’s podcast a piece of her own media empire. He is not only playing the role of her boyfriend in her personal life, but also is an active participant in both her professional organization and public image.
Time will tell if their synergy will work for Swift as well as it has worked for Kelce. She arguably has much less to gain from his audience than vice versa; her business was thriving just fine without him. The Eras Tour, which caused a ticket stampede long before Kelce entered the picture, sold so well that it helped make Swift a billionaire. Her most recent album, “The Tortured Poets Department,” which was self-evidently not written about Kelce, sold over 2.6 million copies in its first week of release and topped the Billboard 200 chart for 17 weeks, the best commercial performance of her career thus far.
Will an album about a happy relationship sell better than one about a self-described “manic phase” that resulted in heartbreak? My instinct says no — Swift’s best-loved songs are her breakup anthems. But I never thought I’d be tuning in to a football podcast to hear Swift talk about her music, so perhaps anything is possible.
Wrexham striker Ollie Palmer scored two goals in the space of a minute in stoppage time then converted one of the team’s penalties in their dramatic shootout win over Hull in the English League Cup on Tuesday.
The Welsh club owned by Hollywood celebrities Ryan Reynolds and Rob McElhenney looked to be heading out in the first round when trailing 3-1 at the start of added-on time.
Then Palmer, on as a 69th-minute substitute, converted headers in the first and second minutes of stoppage time to make it 3-3 and take the game to a shootout.
Wrexham won it 5-3 to advance.
– Wrexham boss slams ‘game-changing’ call in loss
– O’Hanlon: Wrexham must survive Championship to reach Premier League
After three straight promotions, Wrexham — now globally renowned after its 2021 takeover and the “Welcome to Wrexham” fly-on-the-wall documentary — is playing in the second-tier Championship for the first time since the 1980s and opened the season with a 2-1 loss at Southampton on Saturday.
Palmer has played a leading role in the documentary but has fallen down the pecking order of strikers over the past two years.
It was a balmy evening in north Wales and anticipation among the home fans was high following their side’s return to the second tier.
But fellow Championship side Hull had not read the script.
Oli McBurnie went close to opening the scoring after 10 minutes when he headed wide from a Ryan Giles free-kick and Nathan Tinsdale had a shot blocked.
Wrexham settled into the game and Harry Ashfield had a volley blocked before Ryan Hardie shot straight at Dillon Phillips.
McBurnie looked a constant threat at the other end and went close when he weaved through the area and forced a good save from Arthur Okonkwo.
The hosts claimed the lead as Elliot Lee sent the defence the wrong way with a drop of the shoulder and beat Phillips with help from a big deflection.
The advantage lasted just five minutes as Hull replied with a slick attack.
Cody Drameh broke from deep and continued his run to receive a return pass from Joe Gelhardt. He then pulled the ball back across goal and McBurnie slid in to flick past Okonkwo.
Wrexham should have restored their advantage in the opening moments of the second half but the unmarked Hardie headed wide from Ryan Longman’s inviting cross.
Hull enjoyed another good spell but Okonkwo twice saved from the dangerous Kasey Palmer before Ashfield shot narrowly wide for the Red Dragons.
Hull grabbed the lead after 70 minutes as Joel Ndala, having been on the field just eight minutes, raced on to a cross from Gelhardt and thumped home from close range.
Such was the force of the shot that it rebounded back on to the field, creating an optical illusion to many in the ground that Okonkwo had saved.
But Ndala was in no doubt and peeled off to celebrate in silence with his teammates before, eventually, the Hull fans processed what had occurred.
Hull looked to have won it nine minutes from time when Crooks turned in from close range but Wrexham rallied incredibly in the closing stages.
Palmer, summoned off the bench, proved he can still do a job with two stunning headers in quick succession in stoppage time to take the tie to penalties.
Information from The Associated Press and PA Sport was used in this report.
Do Kwon, the South Korean entrepreneur behind two cryptocurrencies that lost an estimated $40bn in 2022 and caused the market to implode, pleaded guilty on Tuesday to two US charges of conspiracy to defraud and wire fraud.
Kwon, 33, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, entered the plea at a federal court hearing in New York. He had pleaded not guilty in January to a nine-count indictment charging him with securities fraud, wire fraud, commodities fraud and money-laundering conspiracy.
Accused of misleading investors in 2021 about TerraUSD – a so-called stablecoin designed to maintain a value of $1 – Kwon pleaded guilty to the two counts under an agreement with the Manhattan US attorney’s office, which brought the charges.
He faces up to 25 years in prison when Engelmayer sentences him on 11 December, though prosecutor Kimberly Ravener said the government had agreed to advocate for a prison term of no more than 12 years, provided he accepts responsibility for his crimes. He has been detained since his extradition from Montenegro late last year.
Kwon is one of several cryptocurrency moguls to face federal charges after a slump in digital token prices in 2022 prompted the collapse of a number of companies. Sam Bankman-Fried, founder of the US’s largest crypto exchange, FTX, was sentenced to 25 years in prison in 2024.
Prosecutors alleged that when TerraUSD slipped below its $1 peg in May 2021, Kwon told investors a computer algorithm known as “Terra Protocol” had restored the coin’s value. Instead, they said, he arranged for a high-frequency trading firm to secretly buy millions of dollars of the token to artificially prop up its price.
Prosecutors said that false claim and others drove retail and institutional investors to buy Terraform products and boost the value of Luna – a more traditional token that fluctuated in value but was closely linked to TerraUSD – to $50bn by the spring of 2022.
In court, Kwon apologized for his conduct.
“I made false and misleading statements about why it regained its peg by failing to disclose a trading firm’s role in restoring that peg,” Kwon said. “What I did was wrong.”
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Kwon agreed in 2024 to pay $80m as a civil fine and be banned from crypto transactions as part of a $4.55bn settlement he and Terraform reached with the US Securities and Exchange Commission.
He also faces charges in South Korea. As part of the deal, prosecutors will not oppose Kwon’s potential application to be transferred abroad after serving half his US sentence, Ravener said.