市值
24小时
6566
Cryptocurrencies
51.43%
Bitcoin 分享

US Court Filings Expose Montenegro’s Prime Minister’s Stake In Failed Terraform Labs

US Court Filings Expose Montenegro’s Prime Minister’s Stake In Failed Terraform Labs


NewsBTC
2024-06-21 04:00:16

A recent Bloomberg report has revealed that Montenegro’s Prime Minister, Milojko Spajic, personally invested in Terraform Labs years before the company’s collapse. The discovery has raised concerns regarding the founder’s choice to flee prosecution by seeking refuge in the same nation. The founder of Terraform Labs, Do Kwon, was detained in Montenegro in March 2023 and is currently facing extradition demands from the US and South Korea. Opposition Calls For Resignation According to Bloomberg, Milojko Spajic has claimed that the investment was made by Singapore-based company Das Capital SG, in which he was a partner. However, the independent Montenegrin newspaper Vijesti, which broke the news, reported that the holdings grew to nearly $90 million at one point. Spajic’s LinkedIn profile shows that he worked as a credit analyst and investor in Singapore from 2014 to 2020 before returning to Montenegro to serve as finance minister in late 2020. Related Reading: MicroStrategy Buys Additional 11,930 BTC, Fibonacci Analysis Hints At $160K Bitcoin Price Peak The revelations surrounding the prime minister’s investment have emerged at a critical time for Montenegro, where Spajic has led a “fragile” ruling coalition since October. As a NATO member and European Union candidate country, the controversy surrounding the prime minister’s involvement in a collapsed crypto firm has increased pressure from the opposition, who now demand Spajic’s resignation. Terraform Labs Lawsuit Exposes Prime Minister’s Investment The prime minister’s investment details came to light in a lawsuit filed by the US Securities and Exchange Commission against Terraform Labs and Do Kwon. Kwon, the founder of the crypto firm, is facing prosecution linked to the $40 billion collapse of the TerraUSD stablecoin in 2022. In April, a civil trial in New York found the bankrupt company and Kwon personally liable for fraud, resulting in Terraform agreeing to pay $4.5 billion to settle the case with the SEC. Related Reading: Cardano And XRP Shorting Activity Could Act As ‘Rocket Fuel’ For A Rally; Santiment In light of these developments, Terraform CEO Chris Armani recently announced the complete dissolution of the company’s operations via a social media post on X (formerly Twitter). While expressing disappointment in the lawsuit’s outcome, Armani confirmed that TFL would cease operations and transfer ownership of the chain to the community. On the other hand, Kwon has already served his local sentence in Montenegro after being detained using a fake passport. The justice minister of Montenegro favors sending Kwon to the US, while the courts support his extradition to South Korea. With multiple rulings, Kwon’s fate now lies in the hands of the High Court. At the time of writing, the protocol’s native token, Luna Classic (LUNC), is trading at $0.000091, with sharp price declines of over 6% and 22% over the past seven and fourteen days, respectively. Featured image from DALL-E, chart from TradingView.com


阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约