{"id":19473,"date":"2022-06-10T15:26:04","date_gmt":"2022-06-10T15:26:04","guid":{"rendered":"http:\/\/egrowonline.com\/?p=19473"},"modified":"2022-06-10T15:26:04","modified_gmt":"2022-06-10T15:26:04","slug":"dogecoin-creator-reacts-to-latest-allegations-against-terras-do-kwon","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=19473","title":{"rendered":"Dogecoin Creator Reacts To Latest Allegations Against Terra’s Do Kwon"},"content":{"rendered":"


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Dogecoin <\/strong>DOGE\/USD<\/span> co-creator Billy Markus <\/strong>and other prominent crypto industry watchers were unsurprised at the latest allegations against Terra\u2019s <\/strong>LUNA\/USD<\/span> parent Terraform Labs <\/strong>(TFL) and founder Do Kwon.<\/strong><\/p>\n

What Happened: <\/strong>On Thursday, Watcher News<\/a> reported that TFL employees have confirmed to the U.S. Securities and Exchange Commission that $80 million of company funds were sent to \u201csecret wallets\u201d every month before the LUNA and TerraUSD<\/strong> UST\/USD<\/span> collapse.<\/p>\n

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pic.twitter.com\/ANGN0RlHCY<\/a><\/p>\n


\n\u2014 Shibetoshi Nakamoto (@BillyM2k) June 9, 2022<\/a><\/p><\/blockquote>\n

Markus tweeted a meme that read \u201cpretends to be shocked,\u201d while others compared the Terra founder\u2019s alleged money laundering activities to Bernie Madoff\u2019s<\/strong> Ponzi scheme.<\/p>\n

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pic.twitter.com\/ILGHtWC5aa<\/a><\/p>\n


\n\u2014 Wall Street Memes (@wallstmemes) June 9, 2022<\/a><\/p><\/blockquote>\n

\u201cJust to say 12 x $80m = $1bil. That level of selling and the leverage increase resulting, may have materially contributed to the collapse depending on market cap over time,\u201d wrote<\/a> Adam Back, Blockstream<\/strong> founder and inventor of Bitcoin\u2019s <\/strong>BTC\/USD<\/span> Proof-of-Work mining algorithm, <\/strong>on Twitter.<\/p>\n

The Watcher report cites South Korean publications Naver and JBTC which revealed that the SEC had acquired internal statements showing the monthly distribution of $80 million funds into \u201cdozens of cryptocurrency wallets\u201d every month.<\/p>\n

A key internal informant said that Kwon had not received any official payment from TFL on paper.<\/p>\n

See Also: Terra (LUNA) Founder Do Kwon Faces $78M Fine For Tax Evasion<\/a><\/em><\/p>\n

On Thursday, the court of appeals rejected<\/a> Terra\u2019s dispute of a subpoena from the SEC. The regulator is investigating whether Terra used Mirror Protocol <\/strong>MIR\/USD<\/span> to sell unregistered securities.<\/p>\n

Price Action:<\/strong> According to data from Benzinga Pro<\/a>, LUNA was trading at $3.03, up 2.25% over the last 24 hours.<\/p>\n

Photo courtesy: Terra<\/em><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dogecoin DOGE\/USD co-creator Billy Markus and other prominent crypto industry watchers were unsurprised at the latest allegations against Terra\u2019s LUNA\/USD parent Terraform Labs (TFL) and founder Do Kwon. What Happened: On Thursday, Watcher News reported that TFL employees have confirmed to the U.S. Securities and Exchange Commission that $80 million of company funds were sent […]<\/p>\n","protected":false},"author":1,"featured_media":19474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[8910,1297,85,7074,138,6037,2477],"class_list":["post-19473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-allegations","tag-creator","tag-dogecoin","tag-kwon","tag-latest","tag-reacts","tag-terras"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/dk03.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19473"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19473\/revisions"}],"predecessor-version":[{"id":19475,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19473\/revisions\/19475"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/19474"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19473"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}