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Do Kwon, who was behind two digital currencies that eventually collapsed in a $40 billion debacle, was sentenced to 15 years in prison on Thursday. During the sentencing, a judge referred to Kwon’s work at Terraform Labs as an “epic fraud” on a “generational scale” that few other previous frauds have reached.
South Korean entrepreneurs Daniel Shin and Do Kwon originally introduced the Terra blockchain as a platform for stablecoins tied to fiat currencies in 2018. It began with…
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Do Kwon, who was behind two digital currencies that eventually collapsed in a $40 billion debacle, was sentenced to 15 years in prison on Thursday. During the sentencing, a judge referred to Kwon’s work at Terraform Labs as an “epic fraud” on a “generational scale” that few other previous frauds have reached.
South Korean entrepreneurs Daniel Shin and Do Kwon originally introduced the Terra blockchain as a platform for stablecoins tied to fiat currencies in 2018. It began with…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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