Terra Founder Do Kwon Is Still Cashing Out, But Not With Bitcoin | Bitcoinist.com

Terra founder Do Kwon has been under fire from authorities since the network crashed earlier in 2022. Kwon who has now been asked to turn in his passport or have it rendered invalid has said he is not on the run. The founder has also denied all allegations that he has been trying to cash out bitcoin from the LUNA Foundation Guard treasury. While that might be true, more information has emerged that the Terra founder might be indeed cashing out funds, just not with bitcoin.

Not Cashing Out With Bitcoin

Following the collapse of the Terra network, the price of LUNA Classic declined below zero and investors had been left with billions of dollars in losses. In a bid to compensate those who lost funds, the new Terra LUNA token was proposed and airdropped to investors in stages. The Terra team had said during this time that it would be keeping none of the token