Do Kwon's Montenegro Detour Gets 2-Month Extension, Extradition Decision Pending
Portfolio Pulse from Murtuza Merchant
Do Kwon, co-founder of Terraform Labs, has had his detention in Montenegro extended by two months as the High Court in Podgorica responds to extradition requests from the U.S. and South Korea. Kwon faces charges related to the $60 billion collapse of TerraUSD and Luna. The final decision on his extradition is pending, with Montenegro's justice minister to choose the country. Kwon's legal team is appealing the High Court's ruling that he could be extradited.
December 12, 2023 | 7:41 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Do Kwon's extended detention and pending extradition decision may continue to cast a shadow over Luna, following the collapse of TerraUSD.
The ongoing legal situation with Do Kwon is directly related to the collapse of TerraUSD and Luna, which he developed. The negative news surrounding the extended detention and potential extradition could further erode investor confidence in Luna, likely leading to a negative short-term impact on its price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100