South Korea seeks extradition of Luna cryptocurrency founder

South Korea has announced that it will seek the extradition of fugitive crypto entrepreneur Do Kwon following the arrest of the founder of Terraform in Montenegro and an outright denial by the US of fraud charges. This was reported by the prosecutor’s office on Friday to the news agency AFP. Kwon, who goes by the name Kwon Do-hyun, has been accused of a scam that rocked the global…
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Why Cryptocurrency’s bruising comedown matters

BITCOIN offices in Istanbul, Turkey seen on May 11, 2022. . Parallel to the global stock market, which has been stretched by the Fed’s 50 basis point policy rate hike, he sold $1 billion in cryptocurrencies to keep the stable coin TerraUSD (UST) at $1. UST, which rose to $…