Terraform Labs Fires Back at South Korea’s Arrest Warrant for Do Kwon: Report

Terraform labs fires back at south korea's arrest warrant for do kwon: report

CoinDesk published this video item, entitled “Terraform Labs Fires Back at South Korea’s Arrest Warrant for Do Kwon: Report” – below is their description.

Terraform Labs said South Korean prosecutors overextended their authority in seeking an arrest warrant for CEO Do Kwon, according to a report in the Wall Street Journal, citing a statement from Terraform. “The Hash” hosts discusses the latest developments surrounding the Terra ecosystem.

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About This Source - CoinDesk

CoinDesk is a news site specializing in bitcoin and digital currencies. The site was founded by Shakil Khan and was subsequently acquired by Digital Currency Group.

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South Korea, an East Asian nation on the southern half of the Korean Peninsula, shares one of the world’s most heavily militarized borders with North Korea. It’s equally known for its green, hilly countryside dotted with cherry trees and centuries-old Buddhist temples, plus its coastal fishing villages, sub-tropical islands and high-tech cities such as Seoul, the capital.

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In This Story: Terra

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

Terra’s native token, LUNA, is used to stabilize the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

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