The Ledger: Terraform settlement, Philippines crackdown, parlays

This week The Ledger revisits Terraform Labs’ $4.47bn settlement with SEC, the Philippines’ crackdown on crypto gambling, and’s new parlays offering.

It’s been another packed week in the crypto gambling world and The Ledger is here once again to recap the week’s biggest stories.

First off, Terraform Labs hit the headlines for the first time in a while having reached an eyewatering $4.47bn settlement with the US Securities and Exchange Commission after it’s high-profile bankruptcy in 2022.

The company was behind the collapse of the Terra stablecoin, contributing to a $40bn wipe out in value from the ecosystem.  

Meanwhile, the company’s boss, Do Kwon, is in prison in Montenegro and trying to avoid extradition to the US where he is wanted on multiple counts of wire fraud and money laundering.

Elsewhere this week, the Philippines has cracked down on crypto gambling sites, announcing it had identified 250-300 illegal offshore gambling firms operating in the country.

The Philippine Amusement and Gaming Corp worked with authorities to help identify the unlicensed firms. introduced parlays this week, enabling users to combine several bets into a single one. Each bet, or “leg”, contributes towards the total possible winnings. has also introduced a multiplier on DVY points earned, which increases with the number of legs in a parlay – three-leg parlays earn 3x DVY points, five legs earn 5x, and so on. This means that players can take bigger risks for bigger rewards by placing complex bets.

To commemorate this milestone, it has organized a special promotion where participants who complete the Galxe quest and share their parlay in the comments stand a chance of winning $50 worth of USDC.

At Lucky Block Casino, meanwhile, a giveaway was launched that could see players win VIP tickets to the prestigious Louis Vuitton America’s Cup in Barcelona or walk away with $8,000 worth of Bitcoin.

The top prize package includes VIP access, return flights, three nights’ luxury five-star accommodation, and spending money.

Looking for your next crypto casino? Check out Bitcasino, Mega Dice or FortuneJack!

Written by Hannah

Hannah is editor of and has almost 15 years experience in journalism, including reporting on law, TV, gambling, crypto and alternative finance. She is particularly interested in the future of money, the transition of gambling from 'vice' industry to mainstream entertainment and the application of blockchain technology to wider society.

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