In a latest news report,Do Kwon, a big fish in the cryptocurrency network has fallen into bad times. It was all over the news platforms a few days ago.
But what does this mean for the future of crypto?
Do Kwon was once hailed as a cryptocurrency visionary. However, things have now changed as he found himself ensnared in a global chase after a catastrophic $40 billion cryptocurrency downturn.
As the mastermind behind TerraUSD and Luna, two tokens whose values plummeted dramatically, Kwon is now a prime target for US and South Korean law enforcement agencies.
The aftermath of this debacle not only erased billions from the crypto realm but also precipitated the collapse of numerous digital-asset businesses, leaving countless investors worldwide in financial ruin.