Hashed, South Koreas largest crypto venture capital firm has lost a combined $3.6b due to the UST-LUNA implosion. That’s a lot even more than a lot of other firms such as Binance and 3AC too maybe. Losing that much money will obviously also have influences on their customers services, maybe they even put in customers money into this investment, then that’s really bad.
That basically also shows why South Korean authorities have been going that hard on Do Kwon and the Terra Foundation team. They are normally already strict and if you then in addition made their biggest firms lose a bunch of money they won’t let you go out of it safely, unlike maybe the US would have.