In as much as I wouldn't have loved to mention the Luna/UST saga, it's nice to see some interesting turn out after last year's massive crash of Terraform Labs crypto and stablecoin crash. Terraform Labs and its Founder Do Kwon last year made massive amount for themselves while the public wailed and cried after losing billions collectively in an orchestrated rug pull. Justice has been slow in prosecuting offenders that cost people not just their hard-earned money but their lives as some people killed themselves to wake up to nothing. A sad story should have an happy ending to prevent others from laying seeds of destruction for others.
Finally the SEC release a press statement to inform the public of finally charging Do Leon and Terraform Labs for Fraud. Do Kwon has continuously played a major role to creating such a chain that wouldn't stand the test of time even seeing the impossible with stablecoin UST as it lost its peg to the dollar. Long time waiting for the judgement to be given and the verdict final for the defaulter.
Everyday for the thief but one day for the owner. The press release is no therapy to anyone even those the live far in Singapore under the rock. Do Kwon has acted like everything is fine and yet lives off other people's money. SBF trial and verdict was so spontaneous but Do Kwon's verdict has been lingering for a long time and I for one would just love to see the one that behaves as if they are untouchable to feel the touch of justice.
The end just needs to happen to let the bridges connected to massive losses to end. The fall of Luna/UST caused serious damegae to crypto as I always hint to get into decentralized projects and I'd say it's a bit difficult to know what to do especially if one is a novice.
The US SEC has proved to be true to their justice standards that keeps everyone on their toes and books in ordered which has made me to almost question the delay in charging Do Kwon but this looks like the end of the line as I hope that all defaulters would be charged duly.
Thanks for visiting my blog till next time.
