Terraform Says Case Against Do Kwon Is ‘Politicized’ and LUNC ‘Isn’t a Security’
Terraform Labs has hit out at South Korean prosecutors. Do Kwon's firm accuses them of morphing the legal definition of a security to kowtow to political pressure. Find out more!
Why Terraform Labs Cofounder Do Kwon Is Unfazed by US Regulators – Ep. 201
Do Kwon, cofounder of Terraform Labs, was recently served subpoenas by the US Securities and Exchange Commission during Messari’s mainnet event, leading Kwon and Terraform to preemptively sue the SEC. On Unconfirmed, Kwon discusses:
● what Terraform Labs does and how it is building its DeFi ecosystem around TerraUSD ($UST)
● why Terraform Labs created its synthetics protocol, Mirror, and how it works
● what Do thinks about the SEC’s investigation into Mirror
● what happened to Do at Messari’s mainnet event
● why the SEC’s approach to crypto regulation does not impact Do very much
● what Do thinks about how US regulators are treating crypto companies
● how Do would regulate the crypto industry
● why he believes the current state of crypto regulation doesn’t work in a global context
● why he says the SEC couldn’t do anything to TerraUSD — even if it wanted to
● what two characteristics are critical in building a decentralized protocol
how the crypto industry could improve security in light of the $130 million Cream Finance hack
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Episode Links
Do Kwon
Twitter: https://twitter.com/stablekwon
Terra
Twitter: https://twitter.com/terra_money
Website: https://www.terra.money/
Terra ecosystem: https://docs.terra.money/Reference/ecosystem.html
SEC Lawsuit
CoinDesk
https://www.coindesk.com/business/2021/10/23/terras-do-kwon-was-served-by-sec-new-lawsuit-shows/
Terraform V SEC
https://www.scribd.com/document/534537134/Terraform-v-SEC
Stephen Palley
https://twitter.com/stephendpalley/status/1451709816020348933
Messari Mainnet Serving
https://twitter.com/gogoSlava/status/1439972015910408195
Miscellaneous
SEC charging Abra
https://www.sec.gov/news/press-release/2020-153
Stablecoin market cap comparison
https://coinmarketcap.com/view/stablecoin/
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What are stablecoins and how do they work?
Yahoo Finance’s Zack Guzman spoke with Do Kwon, Terraform Labs CEO to discuss stablecoins.
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Ether dips amid stock selloff, and Terraform Labs slams case against Do Kwon: CNBC Crypto World
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Sylvia Jablonski of Defiance ETFs discusses altcoin performance and a new way to short crypto equities as prices continue to fall.
Chapters:
00:00 – CNBC Crypto World, Sept 29, 2022
0:24 – Crypto falls
0:44- The headlines
3:32- Sylvia Jablonski of Defiance ETFs
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The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
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Ether dips amid stock selloff, and Terraform Labs slams case against Do Kwon: CNBC Crypto World
How Will the Legal Case Against Do Kwon Play Out in South Korea? – Ep. 401
How Will the Legal Case Against Do Kwon Play Out in South Korea?
Zack Guzman, journalist and Coinage host, and Jongbaek Park, partner specializing in blockchain and crypto assets at Bae, Kim & Lee, discuss how the case in South Korea against Do Kwon and TerraForm Labs will likely go, whether Do Kwon is on the run, and what his sentence could be.
Show highlights:
�� Jongbaek’s and Zack’s disclosures regarding Terra
�� how big the Terra phenomenon was in South Korea and how Do Kwon was perceived in the country
�� whether Do Kwon posed any conditions for his interview with Zack
�� what Do Kwon is being charged with
�� the colliding opinions on which tokens are considered securities
�� whether the collapse of Terra had any negative impact on the South Korean President’s image
�� whether Do Kwon feels like a charge for violating the capital markets law is unfair
�� whether Do Kwon is “on the run,” despite his denials
�� how the potential revocation of Kwon’s passport could make him go back to Korea
�� whether Terra was a failure or a fraud, and how prosecutors are looking into it
�� whether Terra was centralized
�� the chance of prosecutors going after other people from Terraform Labs and the probability of the entity’s assets being frozen
�� how much jail time Kwon could be facing and whether he is prepared to go to prison
Thank you to our sponsors!
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Guests:
Jongbaek Park
Zack Guzman
�� EPISODE LINK ��
CHECK OUT THE EPISODE LINKS AND DETAILS HERE
�� https://unchainedpodcast.com/how-will-the-legal-case-against-do-kwon-play-out-in-south-korea-ep-401/ ��
Previous Coverage of Unchained on Do Kwon and Terra:
Do Kwon Is Backing UST With Bitcoin – And Here’s What Else He Is Building
The Legal and Regulatory Fallout From Terra’s Collapse: Who Will Pay?
The Chopping Block: Does the New Terra Have Any Chance?
Hester Peirce’s Former Counsel on Terra 2.0, XRP and a Bitcoin Spot ETF
Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed
SEC Actions Against Terra
SEC Investigating UST Stablecoin Blowup in Fresh Threat to Terra
Terraform Labs Loses US Appeal over SEC Subpoena
Allegations against Do Kwon
Seoul Police Probe Allegation of Embezzlement by Terraform Staff
South Korea Launches Investigation into Company Behind Luna Crypto Crash
Class action against Do Kwon
Was LUNA a Security?
Korean prosecutors are looking into Terra
Do Kwon
Red Notice
“Not on the run”
Kwon’s Passport
Stablecoin Regulation
Stablecoin Draft Bill
Yellen cites UST stablecoin risk after it loses its dollar peg
Haseeb Qureshi’s summary of the Terra collapse:
Zack’s Interview with Kwon
_________________________________________________________
TIME STAMPS
00:00 Intro
04:17 Topic Discussion
05:20 Disclosures
07:30 Terra phenomenon in S. Korea
16:45 Charges
21:00 Tokens as Securities
39:37 Do Kwon on the run?
46:17 Kwon’s Passport
52:20 Fraud or Failure?
54:51 Terra Centralization
58:10 Jail Time
_________________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies #luna #dokwon
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