On December 31, 2024, according to sources from Reuters, Montenegro has extradited Do Kwon, co-founder of Terraform Labs, to the United States. It is known that Do Kwon, a South Korean national, was formerly the CEO of Terraform Labs, a company famous for the stablecoin TerraUSD. TerraUSD was designed to maintain a stable value of $1 USD but collapsed in May 2022, causing a shock to the coin market at the time.
The TerraUSD crisis not only affected the stablecoin market but also triggered a shockwave across the entire crypto market, from Bitcoin to various altcoins. Do Kwon's extradition has reignited legal issues related to the company he managed.
Outside of the U.S., Do Kwon is also wanted by South Korean authorities. This indicates the importance of more stringent management and regulation of the crypto market. These international legal events signal potential changes ahead in the regulation of the global crypto market.
Do Kwon's extradition could be a significant turning point in the investigations surrounding the collapse of TerraUSD and may impact how other altcoins are regulated. This is certainly an event that investors and organizations operating in this field cannot overlook.
To stay updated on the latest news in the crypto market, continue to follow reports from Reuters and other reputable sources.
