Do Kwon claims South Korea's accusations politically motivated

Do Kwon, CEO of Singapore-based Terraform Labs, claimed charges from South Korean prosecutors against him as "politically motivated"

[{"selector":"#anim-0e9a1ca2-765d-4faa-907b-4540f21f0faa","keyframes":{"transform":["translate3d(121.60280%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0911d3da-088e-4da5-9a14-6b0017b77ebb","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-12b8d46e-86b3-439a-b301-ef7d6007cca4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

During an interview on the Unchained podcast, Do Kwon refused to confirm that he left Singapore or reveal his current whereabouts.

[{"selector":"#anim-dcf1ba38-8109-4029-b805-834d4ae686ed","keyframes":{"transform":["translate3d(128.51711%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3f7577e7-66df-45f1-ac87-1bb46b92a4bb","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-597055d7-6703-420f-a92c-d17bd3a004d9","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Learn more

He said, “We are a little bit disappointed in the way that prosecutors are attempting to create new regulation through criminal court proceedings".

[{"selector":"#anim-ec49029e-493b-4ac8-901f-719583bcf198","keyframes":{"transform":["translate3d(116.32654%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a37efbb7-c734-4a4a-90cf-27164ee662a2","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1eb9d075-e4a1-4906-88be-2db624ccca5c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Kwon is currently wanted by authorities in his native South Korea for allegedly violating the country's Capital Markets Act.

[{"selector":"#anim-a3886243-d91b-453a-b9f4-f0fc6bc98125","keyframes":{"transform":["translate3d(122.54546%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c7840629-b693-4e40-a1b9-de6dc4963e50","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-347390d0-f45e-4316-9ea3-24e805c1db80","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Learn more

In May, the TerraUSD stablecoin crashed, resulting in the wiping out of approximately $40 billion in value.

[{"selector":"#anim-630e5532-c68f-4e01-88b3-7be26b6b0b89","keyframes":{"transform":["translate3d(126.08696%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d585bd8d-087d-4c26-8772-661ca058815c","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-37c3e095-cbad-446b-9406-2571dd35e4e3","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Kwon has refused to disclose his current whereabouts, citing concerns about his personal safety and privacy.

[{"selector":"#anim-7bc486ec-f641-40f5-923c-b1a6251a4924","keyframes":{"transform":["translate3d(121.10727%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-be66adb3-43e7-433e-9f97-de7f663ef3de","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9895929f-5981-4a43-affb-8f085ac866ff","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Also, he added that the Korean government as well as the FSC don’t classify cryptocurrencies as securities. “So it’s not within the ambits of their jurisdiction to regulate cryptocurrency for that reason”.

[{"selector":"#anim-8b4a5e40-f5c6-4ef7-badf-08b0edd33146","keyframes":{"transform":["translate3d(116.32654%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cdc6df4a-3df4-4d26-be07-4586a9d6c44e","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-433df4d3-1118-4296-86a8-3be0f0e93b5d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-bd0ec8a0-b913-4795-8ef3-6d9c87a48cb0","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-31be6c5d-6b0b-4d2e-92c5-e9bf72980a58","keyframes":{"transform":["translate3d(-94.46903%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74998068-7df2-493c-87c8-2e4a510cd12c","keyframes":{"transform":["translate3d(-286.20695%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-4eeef560-b90b-4413-a163-58fd8dfb9e8c","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] More Crypto Stories...