Do Kwon is not on the run. We know that because the cryptocurrency founder said so. Singapore authorities announced that he’s no longer in their country, a South Korean court issued a warrant for his arrest, and Interpol put out a Red Notice. But that doesn’t mean he’s ready to reveal his whereabouts, or his legal strategy to fight the charges.
Kwon’s outfit is called Terraform Labs. It’s one of dozens of blockchain startups built to reinvent the global financial system and challenge the fiat-based structure which has central banks at its core. Its spin on the theme was to build a stablecoin on top of its Terra blockchain.
Instead of being backed by holdings of a fiat currency like the more-famous Tether — which claims to hold one US dollar for each Tether minted — TerraUSD “achieves price-stability via an elastic money supply.” In its White Paper, the stablecoin’s instigators note that the extreme volatility of Bitcoin’s price is Terra’s raison d’etre.
At the core of how the Terra...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...