Terra founder Do Kwon made statements about the charges against him on the Unchained podcast.
Do Kwon has been on the agenda of the crypto industry for a long time. Of course, it is inevitable that it will not be included. The fall in the markets with the Terra crash plays a leading role in many of today’s problems. This brings lawsuits and accusations for Kwon.
The accusations began after the collapse of the Terra ecosystem and the algorithmic stablecoin created by his company, Terraform Labs. In May, the TerraUSD stablecoin lost its pegged value against the US dollar. The entire ecosystem collapsed, causing nearly $40 billion in value to be wiped out.
Do Kwon: “The Reason for the Accusations is Political”
Do Kwon described South Korea’s accusations against him as political.
Kwon is currently wanted by authorities in his native South Korea for allegedly violating the country’s Capital Markets Law. At the same time, a red notice was started by Interpol.
Speaking on the Unchained podcast, which aired online on October 14, Kwon stated that the charges brought against him by prosecutors were political and not fugitive as he had previously stated.
Claiming that he did not see a copy of the arrest warrant and that all the information he knew about the charges came from media sources, Kwon said:
“We are somewhat disappointed with the way prosecutors are trying to establish new regulation through criminal court proceedings. However, this should be within the mandate of the legislature or at least the financial regulators.”
Kwon also disputed allegations that $65 million worth of Bitcoin belonging to the Luna Foundation Guard (LFG), a nonprofit that supports the Terra ecosystem, was moved to crypto exchanges KuCoin and OKX in September. He said that moving the funds to an exchange does not mean that they are sold.
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