Warrant of Arrest Issued For Do Kwon
The South Korean Court has issued a warrant of arrest for Do Kwon and five others. The six are charged for allegedly violating the nation’s capital markets law. Do Kwon is the founder of Terraform Labs, the crypto company that had a catastrophic collapse earlier this year. The Terra Luna collapse caused a crypto market crash and over $60 billion loss for investors.
Luna, Terraform Labs’ native token, crashed from a high of $100 to a low of -$0.00. The crash wiped out over $40 billion of investors’ money. After the cryptocurrency market crash, Kwon forked the Luna chain to launch a Luna 2.0.
However, the severity of the company’s implosion caused the US and South Korean governments to conduct investigations into Terraform Lab’s operations. Prosecutors searched the house of Terraform Labs co-founder Daniel Shin in July as the investigation into claims of unlawful activities behind the TerraUSD crash progressed.
Trust Wallet Supports Solana
Trust Wallet, the official decentralized wallet from Binance, has now added support for Solana dApps. That means users can connect their wallets to the top Solana dApps straight from their browser. Trust Wallet is a non-custodial wallet that allows users control of their tokens. It has over 50 million users worldwide.
“It’s #TrustWalletTuesdays! And we’re excited to announce that we’ve added support for @Solana dApps! Connect to #Solana‘s top #dApps easily with your #TrustWallet,” announced Trust Wallet on Twitter.
Trust Wallet is a user-friendly, multi-chain non-custodial wallet that lets you store and manage over 5 million crypto assets, including NFTs, across 65+ blockchains. Users can connect to the Solana dApps by searching through their Trust Browser, allowing them to save all their digital assets in one secure location.
Celsius Revival Plan
Celsius, a cryptocurrency lending company that declared bankruptcy earlier this year, has come up with a plan to restore its operations and repay creditors and win back customers. The plan is code-named Kelvin and is the brainchild of CEO Alex Mashinsky and COO Oren Blonstein.
In motivating their employees, Blonstein said, “If we’re delivering valuable services, people should be willing to pay for it.”