Do Kwon says charges 'politically motivated,' refuses to reveal location
Terra founder Do Kwon has branded the charges from South Korean prosecutors against him as "politically motivated" — and reiterated, once again, that he isn't on the run. In an interview on the Unchained podcast, he refused to confirm that he left Singapore or reveal his current whereabouts. Kwon is currently wanted by authorities in his native South Korea for allegedly violating the country's Capital Markets Act. The charges stem from the collapse of the Terra ecosystem and its algorithmic stablecoin, created by his company, Terraform Labs. In May, the TerraUSD stablecoin lost its peg to the U.S. dollar, resulting in the crash of the entire ecosystem and the wiping out of approximately $40 billion in value.
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