Why Investors Threw Nio Stock Into Reverse Today

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US, South Korea both seek Do Kwon’s extradition to face charges

Do Kwon, the founder of Terraform Labs, which operated the TerraUSD stablecoin and its sister token LUNA, was arrested in Montenegro on Thursday while trying to board a flight to flee to Dubai with falsified documents. A few hours after Kwon was arrested at the airport in Podgorica, the capital of Montenegro, U.S. prosecutors charged Kwon with eight criminal indictments, including securities fraud and conspiracy, for his alleged role in the decline of TerraUSD and LUNA, which wiped out about $40 billion of value from the crypto market. Interpol also confirmed Kwon’s identity on Thursday, per CNN.

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