Wall Street

Luna Crash: Co-Founder Accused of Cashing Out $80M Before Scandal

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By Rob Lenihan The SEC and others are investigating Terraform Labs following the collapse of the Luna and UST coins. Employees of Terraform Labs have reportedly told the Securities and Exchange Commission that Do Kwon, the company’s co-founder and CEO, was cashing out $80 million a month prior to the crash of the UST and Luna tokens. The search engine Naver, citing South Korean television network JTBC, said the SEC “recently conducted a remote video survey of some of Terra’s key designers and focused on inquiring about Terra’s poor design structure.” ‘They Were Ignored’Terraform Labs is the de…

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