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HomeCrypto NewsMarketMartin Shkreli Tells Terra Founder "Jail Is Not That Bad," Do Kwon...

Martin Shkreli Tells Terra Founder “Jail Is Not That Bad,” Do Kwon Laughs, Deaton Responds

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Attorney John E. Deaton Does Not Believe That Do Kwon Is Remorseful.


Deaton thinks the Terra founder is not bothered by the fact that people lost their savings in the Terra ecosystem collapse.

In a tweet today, Attorney John E Deaton asserted that Do Kwon has no remorse despite the Terra ecosystem collapse in May wiping out investor savings.

The view came in response to a clip from a spontaneous UpOnly podcast episode focused on the FTX collapse making the rounds on Twitter. In the clip, Kwon can be seen laughing in response to what can be viewed as a friendly jibe from Martin Shkreli, AKA Pharma Bro, telling the Terra founder that “jail is not that bad.”

It bears mentioning that Kwon is the founder of Terraform Labs (TFL), the company that built the eponymous Terra blockchain, which collapsed in May, rocking the entire crypto industry. Notably, at least $60 billion in investors’ monies was wiped off the market leading to a market-wide contagion that brought crypto lenders like Celsius with significant LUNA exposure to their knees, costing non-LUNA investors their investments as well.

Unsurprisingly, these events brought Kwon, TFL, and the entire crypto industry under scrutiny from prosecutors and regulators. Notably, South Korean authorities have issued an arrest warrant for the Terra founder on charges of fraud and breaching the Capital Markets Act.

However, the Terra founder’s whereabouts remain unknown. In a previous report, prosecutors had alleged that Kwon was hiding as an illegal immigrant in Europe, asserting that they had succeeded in revoking his passport.

Meanwhile, Kwon has continued to declare his innocence in recent interviews. According to the Terra founder, he did not defraud investors. Rather, the project failed. However, there are those like FatMan Terra, a Terra whistleblower, who believe that even if Kwon was not directly responsible for the TerraClassicUSD (USTC) de-pegging, he had intentionally made false claims to promote the defunct stablecoin, which is akin to defrauding investors.

Much to the chagrin of his detractors, Kwon, who remains free in a rant last Thursday in response to reports that he was hiding as an illegal immigrant, taunted that he would host a press conference to clear up what he termed “falsehoods.” According to the Terra founder, the police and all his detractors are invited.

It is unclear if Deaton owned any LUNA, though the attorney once joked about selling all his XRP for LUNA and depositing his Bitcoin on Celsius in response to a troll. However, the lawyer has continued to show sympathy for the plights of those affected by the collapse, as he notes that it could have happened to anyone, and no one deserves it.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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