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.
VC firm gambled and lost.
Whilst if intentionally done, Kwon should be in jail but if not….well 🤷♂️
Authorities can’t just go hard on everyone because others lose money.
They’ll be a few things going hard on Do Kwon when he’s in prison, that’s for sure
Hard to believe he hasn’t been found yet
They should go hard on him.
He ruined more than just a couple lives.
Makes sense. I saw a post on twitter saying the S.Korean gov’t is investing millions into this sector.
That guy needs to stone for his sins
Terra was one of the biggest black marks in crypto thus far, theyre not going to pull any punches for sure
Get him. Make an example out of him.
Someone life was changed…