Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.




411 University St, Seattle


Terra Co-Founder Do Kwon Faces Arrest Warrant in South Korea – Investopedia

As reported by Bloomberg, Do Kwon, Terra's co-founder, and five others have been served an arrest warrant following UST's crash in May of 2022. According to a text message from the prosecutor's office in Seoul, the arrest is based on allegations that include violations of the nation’s capital markets law. Neither Do Kwon nor South Korea’s Supreme Prosecutors’ Office has issued a statement at the time of writing. Following the news, LUNA's price has decreased by 45% to $2.40. Additionally, the market cap has fallen 42% to $413.2 million.
Terraform Labs, which hosts Terra (LUNA) and algorithmic stablecoin TerraUSD (UST), was in the news earlier this year when both cryptocurrencies collapsed. The crash led to combined losses of roughly $60 billion between UST and its sister cryptocurrency, LUNA. Following the crash of UST, the crypto market suffered massive losses as a whole with the market decreasing by $2 trillion from May to June.After the crash, Do Kwon pushed for the creation of a new version of the LUNA coin.
Terra’s implosion sparked legal investigations into the company and its founders in South Korea and the U.S. Several people voiced concerns about stablecoins, which have fixed values backed with assets like dollars and gold.
This is not the first time Terra and its co-founders have been in the crosshairs of the authorities. Earlier in June, an unnamed official at South Korea’s Supreme Prosecutors’ Office announced that several Terraform Labs employees could not leave the country and had been placed on a no-fly list. Furthermore, prosecutors raided Terraform Labs co-founder Daniel Shin's home in July as part of the investigations.
All six individuals with latest arrest warrants are currently located in Singapore.
CoinMarketCap. ''Terra''
Bloomberg. ''Terra Co-Founder Do Kwon Faces Arrest Warrant in South Korea''
Yahoo. "https://www.yahoo.com/video/crypto-market-now-lost-2-220636668.html".
CNBC. ''South Korea court reportedly issues arrest warrant for Terraform founder Do Kwon''
Bloomberg. :https://www.bloomberg.com/news/articles/2022-09-14/south-korea-seeks-the-arrest-of-terraform-labs-founder-do-kwon?leadSource=uverify%20wall". September 14, 2022.
Cryptocurrency News
Podcast Episodes
Podcast Episodes
When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site.



Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.