Did terraform Labs co-founder do Kwon convert illicit funds into bitcoin?

According to South Korean prosecutors, Terraform Labs co-founder Do Kwon converted most of the illicit funds associated with him and his associates into Bitcoin. CoinTelegraph reports: South Korean prosecutors have identified 414.5 billion won ($314.2 million) in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates.

Will Terra (Luna) buy $10 billion worth of bitcoin?

Here’s Why Terra (LUNA) Will Buy $10 Billion Worth Of Bitcoin. Here’s Why Terra is one of the fastest-growing blockchains currently. Seemingly coming out of nowhere, the network had quickly become a strong rival for the leading smart contract platform in the space.

What happened to do Kwon's Luna coin?

Do Kwon shared a recovery plan for Luna, and things looked promising for a brief period of time in May after the original crash. But the coin ultimately plummeted. It was promptly abandoned. Terra ended up launching a new coin, Luna 2.0. On September 15, it was announced that a court in South Korea had issued an arrest warrant for Do Kwon.

What is the Luna (Luna) cryptocurrency?

Luna, also known as Terra, is one of two major coins created by Terra Labs, a South Korean company. The Luna Foundation Guard, the organization that supports Luna's price, has nearly 30,000 bitcoins in reserve to back the stablecoin, according to Bitcoinist. The other coin from Terra Labs, TerraUSD or UST, is linked to Luna.