Do Kwon, Сo-founder and CEO of Terraform Labs

Kwon was the founder and CEO of Anyfi, a communications firm that specialized in developing peer-to-peer connectivity solutions for last-mile communications, before diving into the world of cryptocurrencies through Terraform Labs. The businessman also served as a software developer for digital behemoths Apple and Microsoft.

Kwon is involved with a variety of well-known cryptocurrency projects, including Anchor Protocol and Mirror Protocol, in addition to the blockchain community. Kwon was recognized as a top leader in the field of finance and venture capital in 2019 and was given a spot on Forbes’ “30 Under 30” list. Kwon has also invested personally in a number of crypto-focused businesses worth millions of dollars, including Flint, Iron Fish, pSTAKE, and Ape Board.

2023

In the U.S. Securities and Exchange Commission (SEC) fraud lawsuit, Terraform Labs and its co-founder, Do Kwon, are pleading with a federal judge to support them, claiming the SEC hasn’t been able to demonstrate the cryptocurrency business was selling securities.

Stablecoin issuer Terraform’s $40 billion catastrophe in 2022 was a major first step toward the collapse of numerous well-known cryptocurrency companies. Today, the company is one of several crypto companies battling the agency over fundamental issues pertaining to the digital assets sector. The business was accused by the SEC of selling unregistered securities in a major scheme that lost investors billions of dollars after its Luna cryptocurrency and TerraUSD stablecoin (UST) crashed.

2022

The business invested almost $4.1 billion when it established the charity Luna Foundation Guard in January. By funding LUNA with TerraUSD, the organization, which focuses on the Terra ecosystem, aims to reduce the volatility of the cryptocurrency.

Terraform Labs anticipates investing $40 million in 2022 to announce its debut into the professional sports industry. The business additionally took part in a $80 million fundraising round for Qredo, a decentralized layer-2 infrastructure for the custody and settlement of digital assets. Despite the ongoing conflict with the federal regulators, Kwon is anticipated to keep up his streak of investments while also enhancing Terra’s product offerings. Additionally, the businessman is betting on the ANC cryptocurrency from Anchor Protocol and its future potential.

Latest news about Do Kwon

• Daniel Shin’s attorney in a Seoul Southern District Court trial attributed the Luna Coin crash to Terraform Labs’ current CEO, Kwon Do-hyung, for mishandling the Anchor Protocol and external attacks. Shin, who had previously partnered with Do Kwon in Terraform Labs, denied any involvement in the crash. The prosecution charges against Shin Hyun-seong revolve around alleged insider trading, claiming he profited by minting coins while concealing foreknowledge of the downfall of Terra and Luna. The trial will focus on examining complex business decisions, partnerships, and alleged financial irregularities.
• The sale of 110,000 CVX tokens by a suspected Terraform Labs address has caused significant interest in the cryptocurrency community. The transaction, worth $450,000, and the remaining tokens held by the address, totaling 1.68 million, raise questions about the address holder’s intentions. The linkage to the actual Terraform Labs entity complicates the situation. Some community members interpret the sale as a bearish signal, while others see it as a regular operation or fund freeing up. Investors should consider multiple sources of information when making decisions.