U.S. investigation into Do Kwon and his infamous stablecoin unveils several new revelations
The SEC charge sheet contained new allegations about how Terraform Labs and its associated tokens were run.
There was a secret bailout of stablecoin TerraUSD in mid-2021, which re-pegged the token to the U.S. dollar, and gave investors confidence to pour billions of dollars more into the product, according to the SEC.
Founder Do Kwon has a secret stash of 10,000 bitcoin and has sold more than $100 million of them since TerraUSD collapsed.
THE BLOCK2023/02/17 20:52