Does Do Kwon deserve to be granted bail and out of jail?
Do Kwon is the co-founder of Terraforms Labs and the collapsed Terra-Luna ecosystem, with their failed crypto projects LUNA and its stablecoin UST, earlier last year Do Kown's failed projects ruined a lot of people's lives after making some other people rich after pumping to its all-time high at $120 per LUNA before the huge crash happened, LUNA was one of the most impressive coins in the crypto industry at that time before till eventually crashed, the funny thing is that the crash happened after Do Kwon predicted that a lot of Altcoins will not survive the bear market but his projects will.
But the universe and the other crypto projects he was mocking had the last laugh as his projects were the first to crash, the crash of LUNA and Terraforms Lab's stablecoin UST gave the entire crypto market a huge gut blow because no one saw it coming or expected that LUNA one of the top cryptocurrencies at that time by market cap value will crash to zero or almost zero. In my opinion, I do not think it is fair for Do Kwon who ruined a lot of people's lives and caused a lot of suicide cases should be granted bail or be out of jail, even though he is going to be under house arrest as he awaits for his court trials hearing scheduled for June 16th.
Do Kwon was granted a $430k bail by the Montenegro Basic Court after the court dismisses the prosecution appeal. Do Kwon has pleaded not guilty to charges that the documents were falsified. The international fugitive was on the run months before his arrest and was caught trying to flee to Dubai on a private jet. He faces a maximum sentence of five years in prison, together with Joon his co-founder of Terraforms Labs and the collapsed Terra-Luna ecosystem, if found guilty.
Montenegrin authorities have stated that Kwon must conclude criminal proceedings in the country before being extradited to either the U.S. or South Korea to face the law for the collapse of the Terra ecosystem.
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yes! he hasn't done anything else, what pol, gov, bank, corp droids do, except he hasn't stolen that big... :) :) :) (of course, if he would, nobody ever would go after him...)
He was definitely over-confident and cocky about Terra, but I don't think he intentionally ruined people lives. I think there was a bug in the algorithm that was exploited causing the project to fail.