The US Securities and Exchange Commission has accused crypto star Do Kwon (31) of securities fraud. According to the indictment, his company is said to have transferred over $100 million in Bitcoin through an unnamed Swiss financial institution since June 2022. Kwon is the founder of crypto platform Terraform Labs.
The collapse of cryptocurrency Luna and related stablecoin TerraUSD in May 2022 brought the cryptocurrency market to the brink. Algorithmic stablecoin events have cost hedge funds and retail investors billions of dollars. An arrest warrant has been issued for inventor and developer Do Kwon from South Korea. It is said to have been on the run ever since.
safe money
The US Securities and Exchange Commission has now made serious allegations against Do Kwon in an indictment it released a few days ago. It is said not only to deceive investors, but also to bring a lot of money to a safe place.
The SEC lawsuit alleges a Switzerland-based financial institution that Kwon has allegedly exchanged over $100 million in bitcoin since June 2022. However, the name of the financial service provider is not given.
When asked by the AWP, Swiss financial markets supervisory agency Finma said they were aware of the letter from the SEC but did not comment on the case in question. First, “NZZ” reported the case. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
