LUNA Holds Ground Over $90, Do-Kwon Hints At Factors Behind Rally
LUNA, Terra’s native cryptocurrency, remains on an upward trajectory. The cryptocurrency follows the general market sentiment and is one of the best performers in the crypto top 10. Related Reading | Terra (LUNA) Surpasses Ethereum Becoming Second Most Staked Asset This trend could continue in the short term, but some indicators point to caution. In the long term, the outlook seems clearer. At the time of writing, Terra’s cryptocurrency trades at $94 with sideways movement in the last 24 hours and 6% profit in the past week. Do Kwon, Terra Co-Founder has become one of the most....
Related News
Do Kwon has urged holders of LUNA to “stay strong,” as the price moves ever closer to zero. Following the UST stablecoin losing parity with USD, prices have plunged, falling to a new low this morning. LUNA, UST Tumble Toward Zero As of writing, LUNA/USD is trading at $5.45, which is marginally higher than its earlier low of $4.21. To put things in perspective, prices are down nearly 90% from yesterday’s peak of $34.28, and only seven days removed from it trading at a high of $88.40. Following a brief rally in the aftermath of it losing dollar parity, UST also moved....
The rumor surfaced after a Twitter thread by @FatManTerra shared the alleged details on how Kwon, along with Terra influencers, managed to drain funds while artificially maintaining the liquidity. Do Kwon, the CEO and co-founder of the infamous Terra (LUNA) and TerraUSD (UST) ecosystems, refuted the claims of cashing out $80 million every month for nearly three years. Numerous unconfirmed reports surfaced on June 11, claiming Kwon’s participation in draining liquidity out of LUNA and UST before the crash to purchase US dollar-pegged stablecoin such as Tether (USDT).Rumors about Kwon....
Terraform Labs founder Do Kwon is not in Singapore, local police say. Accused of fraud after the collapse of cryptocurrencies luna and terrausd, he is wanted in South Korea after a court issued an arrest warrant for him. However, Kwon insists that he is not “on the run.”
Police Say Do Kwon Isn’t in Singapore
The Singapore police force (SPF) reportedly said on Saturday that Terraform Labs founder Kwon Do-hyung, also known as Do Kwon, is currently not in the city-state. In an email response to an inquiry by the AFP, the police said:
Do Kwon is currently....
During a recent interview with the Wall Street Journal (WSJ), Terraform Labs (TFL) founder Do Kwon said he was “devastated” by the LUNA and UST implosion that took place in mid-May. He told the WSJ that he was probably a billionaire when LUNA tapped an all-time high before the collapse, but lost a great portion of his net worth following the aftermath. Do Kwon Speaks About the Terra LUNA Collapse Do Kwon has recently discussed the LUNA and UST fallout during an interview with the WSJ contributors Alexander Osipovich and Jiyoung Sohn. The interview was published on June 22,....
According to a report from a local news media, law enforcement agencies in South Korea issued an arrest warrant against LUNA Founder and Terraform Labs CEO Kwon Do-Hyeong also known as Do Kwon. The founder has been under authorities’ radar since the collapse of the Terra ecosystem in May 2022. Related Reading: BitGo Slaps Galaxy […]