DeFi News Daily Official TheBitTimes.com

The Terra debacle has still not come to a conclusion. After the epic fall, and the recent arrest warrant from not just Korean authorities, but from Interpol as well, the case of CEO Do Kwon and his firm Terraform Labs is one straight out the television. In a recent interview with the Wall Street Journal (WSJ), a spokesperson for Terra claimed that the authorities involved in the case are overreaching. The firm sent a statement to the WSJ, in which they claimed that LUNA was not legally a security. Hence, the asset does not come under the South Korean capital-markets law. In response to pressure from the public over the collapse of Luna, the Terraform Labs representative claimed that South Korean authorities had extended the meaning of a security. Furthermore, the spokesperson said that the case had become highly “politicized,” and the actions of the Korean authorities were unfair and did not uphold basic rights. Is the Terra CEO on the run? Terra ’s s...

Recently, the Montenegro court in-charge of Terra founder Do Kwon ’s passport forgery case accepted his 400,000 euro [$428k] bail request. This came on the heels of a previous high court annulment. Ever since his arrest, both South Korea and the U.S. regulators have requested Kwon’s extradition in connection with the collapse of his multi-billion dollar crypto enterprise in May last year. According to senior prosecutor Dan Sunghan, Kwon could spend most of his life behind bars. Initially, he’d be spending jail-time in South Korea, and then be sent to the U.S. to serve his term. The prosecutor clarified that it is possible for a person to be tried and sentenced in both jurisdictions for different charges. Notably, Dan is the Director of the Financial Crime Investigation Bureau at the Seoul Southern District Prosecution Service. Specifically, the prosecutor said that Kwon could “be extradited to the U.S. and face trial there, and then have the sentence executed in South Korea and t...