Crypto News

How Do Kwon Went From Crypto King to Fugitive to Jail

How Do Kwon Went From Crypto King to Fugitive to Jail
© Copyright Image: Crypto Breaking News

South Korean Do Kwon presided over one of the biggest busts ever in the volatile crypto sector. His Terraform Labs Pte created the TerraUSD stablecoin, which was meant to have a constant $1 value via a complex mix of algorithms and trader incentives involving a sister token, Luna. Their combined value soared past $60 billion until confidence in the system evaporated in May 2022, prompting investors to flee and denuding the tokens of value. With Kwons whereabouts unclear, South Korea issued an aSource: Bloomberg Crypto

The post How Do Kwon Went From Crypto King to Fugitive to Jail appeared first on Crypto Breaking News.

Read more: https://www.cryptobreaking.com/how-do-kwon-went-from-crypto-king-to-fugitive-to-jail/

Text source: Crypto Breaking News

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
Buy & sell Crypto in minutes

Join BINANCE!

The world's largest crypto exchange

You're just steps away from receiving your reward.

The most complete Crypto News Center.

Search Stories:

Latest top stories