Terra Co-Founder Do Kwon Under Renewed Scrutiny As Crypto Firm Exec Declines SEC Questions
Portfolio Pulse from Khyathi Dalal
Terraform Labs co-founder Do Kwon is under renewed scrutiny due to possible undisclosed interactions with Jump Crypto President Kanav Kariya. Amid the aftermath of TerraUSD's $40 billion financial implosion, Kariya is now involved in SEC investigations over alleged private agreements with Kwon. The SEC is examining whether Jump engaged in influencing UST's price and AnchorUST for purported advantages in May 2021. This news has cast a renewed focus on the scrutiny surrounding LUNA and UST, the digital assets at the heart of the crisis.
November 09, 2023 | 9:27 pm
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Terraform Labs' digital asset LUNA is under renewed scrutiny due to the ongoing SEC investigation. The investigation is focused on possible undisclosed interactions and agreements between Terraform Labs co-founder Do Kwon and Jump Crypto President Kanav Kariya.
The ongoing SEC investigation into possible undisclosed interactions between Terraform Labs co-founder Do Kwon and Jump Crypto President Kanav Kariya is likely to negatively impact the price of LUNA in the short term. The investigation comes in the aftermath of TerraUSD's $40 billion financial implosion, which has cast a renewed focus on the scrutiny surrounding LUNA and UST, the digital assets at the heart of the crisis.
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