South Korean cryptocurrency developer Kwon Do-Hyung, additionally referred to as Do Kwon, co-founded and served as CEO of Singapore-based Terraform Labs.

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The unlicensed firm Terraform Labs is answerable for the Terra blockchain, which includes the network token Terra and stablecoin TerraUSD (UST) (LUNA).

In May 2022, TerraUSD and Luna collapsed, wiping out approximately $45 billion in market price in every week. Kwon graduated from Stanford University in June 2015 after completing his high college training at Daewon Foreign Language High School.

He spent three months each as an engineer at Apple and Microsoft. After that, in September 2015, he went again to South Korea to release a business.

Former Terra people have asserted that Kwon also founded the unsuccessful stablecoin mission Basis Cash, stimulated with the aid of the Ethereum-based totally stablecoin project Basis (previously Basecoin).

Nader Al-Naji founded Basis, which has secured a good sized amount of money from assignment capitalists. After receiving proceedings from the U.S. Securities and Exchange Commission (SEC), Al-Naji ultimately close down Basis and gave his traders their cash lower back.

Do Kwon Daughter Luna: How Old Is She? Do Kwon daughter, Luna, become born in April 2022. So, she is simply round six months old now.

Kwon announced the delivery of her daughter via Twitter, in which he mentioned naming his daughter after his greatest invention.

Yes, Kwon named his daughter LUNA, that is a Blockchain protocol. Coinmarketcap powers price-strong global payment systems the usage of flat-pegged stablecoins. In January 2018, Daniel Shin and Do Kwon set up Terra. Although production started out in January, the principle internet’s release happened in April this 12 months.

Early in May 2022, while UST’s price fell to 10 cents, Luna’s cost reached “essentially 0.” From a record high of $119.51, it reduced. The crash destroyed $forty five billion in market capitalization in a unmarried week.

In addition, news of his spouse’s Police protection whilst an unknown man visited her home in May 2022 was made public.

Before the man walked out of the constructing, he had requested her if Mr. Kwon turned into at domestic. He first of all entered through the front door via taking gain of the population leaving and entering the constructing.

Do Kwon’s wife called the Police for emergency protection because she felt uneasy. And the destruction of Terra and Luna turned into followed with the aid of the occasion.

Is the CEO Of Terraform Labs In Jail? Arrest And Charge Do Kwon, the co-founder and CEO of Terraform Labs, the business that created the stablecoin TerraUSD (UST), changed into issued an arrest warrant in advance this month via a South Korean court docket.

Terraform Labs lost its peg to the U.S. Dollar in May 2022 and contributed to the bear market in cryptocurrencies.

Prosecutors in South Korea have frozen $39.66 million of cryptocurrency assets belonging to Kwon Do-hyung. pic.twitter.com/G4kAeJJSQY

— Cryptocurrency Inside (@Crypto_Inside_) October 5, 2022

In addition to Kwon, 5 other Terraform Labs personnel are the issue of lively arrest warrants for alleged capital markets law offenses.

The cash of investors who had invested in Terraform Labs became misplaced, totaling $40 billion (£35 billion). Terra (LUNA), UST’s sister token, dropped sharply in May.

At the time, Kwon’s region changed into notion to be Singapore. However, the Singapore Police Force (SPF) has now stated that he’s not a resident of the metropolis-state.

According to the SPF, “SPF will help the Korean National Police Agency (KNPA) in the bounds of our home regulation and commitments to other international locations,” Channel News Asia (CNA) reported. Do Kwon is not at found in Singapore.