After Terraform Lab’s Terra (LUNA) collapsed along with its stablecoin USTD de-pegging against the US dollar in May, the founder do kwon
do kwon co-founder and ceo at terraform labs Do Kwon is a cryptocurrency developer who is the Co-Founder and Chief Executive Officer of Terraform Labs. With terraform labs, he also founded the telecommunication company Anyfi and served as its CEO, a peer-to-peer communication solution using mesh network technology. And eventually, in 2018, he founded Terraform Labs along with his friend Daniel Shine, intending to develop a decentralized price-stable cryptocurrency such as LUNA.
He successfully led the Terra Blockchain by constantly developing new blockchain technologies, products, protocols, and platforms, including anchor, prism, and mirror. Through Terraform Labs, Do Kwon developed the Terra proof-of-stake, a public blockchain built on the Cosmos SDK. He is also the founder of another failed stablecoin project, Basis Cash, an Ethereum-based token created by Nader Al-Naji. EntrepreneurDeveloper/ProgrammerChief Executive Officer Followers : 0 View profile has been facing investigations for the cause of the collapse.
The South Korean investigative officers are trying their best to know the reason for the Terra network collapse. It was just yesterday, September 14 Do Kwon and five other individuals received an arrest warrant from the country’s judiciary for violating capital markets law.
Yesterday’s arrest warrant comes months after Terra ecosystem saw a downfall affecting the entire crypto market and emerged from bankruptcy.
The latest update comes with the country’s officials looking for ways to invalidate Do Kwon’s passport. As per the reports, the South Korean Ministry of Foreign Affairs has now asked Do Kwon to return his passport. The terra
terra Blockchain Network Followers : 0 View profile founder and five others are currently located in Singapore.
The order to return the passport has been rolled out after the Seoul Southern District Prosecutor’s Office for Financial and Securities Crimes asked for the invalidation of all of their passports.
It’s a known fact that for any passport to get invalidated it takes at least a month and that’s the reason the officials are asking the individuals to hand over their passports before that time.