Do Kwon is a cryptocurrency developer from South Korea. This post will teach us about Do Kwon’s daughter Luna. Kwon Do-Hyung, popularly known as Do Kwon, is a South Korean cryptocurrency developer who co-founded and served as CEO of Singapore-based Terraform Labs.
Terraform Labs, an unlicensed corporation,
Is in charge of the Terra blockchain, which comprises the network token Terra and the stablecoin TerraUSD (UST) (LUNA).
TerraUSD and Luna crashed in May 2022, wiping down around $45 billion in market value in a week.
He worked as an engineer at Apple and Microsoft for three months each.
He then returned to South Korea in September 2015 to start a business.
Former Terra employees claim that Kwon also founded the failed stablecoin project Basis Cash,
which was inspired by the Ethereum-based stablecoin project Basis (previously Basecoin).
Nader Al-Naji founded Basis, which has received substantial funding from venture capitalists.
Following complaints from the Securities and Exchange Commission (SEC), Al-Naji eventually shut down Basis and returned his clients’ money.
Luna, Do Kwon’s Daughter, How Old Is She?
Luna, Do Kwon’s daughter, was born in April 2022. So she’s only about six months old now.
Kwon announced her daughter’s birth on Twitter, where he discussed named her after his greatest innovation.
Kwon named his daughter LUNA, after the Blockchain system.
Coinmarketcap uses flat-pegged stablecoins to support price-stable international payment platforms.
Luna, Do Kwon’s daughter, was named after his greatest creation.
Terra was founded in January 2018 by Daniel Shin and Do Kwon.
Although building began in January, the primary net was not operational until April of this year.
When the price of UST plummeted to 10 cents in early May 2022, Luna’s value fell to “essentially zero.”
It fell from a record high of $119.51.
In a single week, the meltdown wiped out $45 billion in market capitalization.
Furthermore, information about his wife’s Police protection when an unknown man visited her home in May 2022 became public.
Before leaving the building, the man asked her if Mr. Kwon was at home.
He first entered through the front door, taking advantage of people leaving and entering the building.
Do Kwon’s wife requested emergency protection from the police because she was concerned.
The event came after the destruction of Terra and Luna.
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Is Terraform Labs’ CEO in jail? Charges and Arrest
A South Korean court issued an arrest warrant earlier this month for Do Kwon,
the co-founder and CEO of Terraform Labs, the company that produced the stablecoin TerraUSD (UST).
Terraform Labs lost its peg to the US dollar in May 2022, contributing to the cryptocurrency bad market.
According to the Financial Times, the South Korean government has asked Interpol to issue a “red alert” for Terraform Labs’ co-founder.
In addition to Kwon, five additional Terraform Labs employees are being sought for potential capital markets legislation violations.
The money invested in Terraform Labs by investors totaled $40 billion (£35 billion).
Terra (LUNA), UST’s sister token, fell precipitously in May.
Kwon’s location was considered to be Singapore at the time.
However, according to the Singapore Police Force (SPF), he is no longer a resident of the city-state.
“SPF will support the Korean National Police Agency (KNPA) within the bounds of our domestic law and
commitments to other nations,” the SPF stated, according to Channel News Asia (CNA).
Do Kwon is not currently in Singapore.
