PLUS: Japan's achievements in digital assets and Web3 regulation are commendable, positioning it as a success story in this realm. However, while attending the recent IVS Crypto Conference in Kyoto, one cannot shake the feeling that there is something lacking.
According to CoinDesk's Emily Parker, there are indications of advancement in Do Kwon's home country despite the ongoing impact of Terra's downfall.
In a series of Tweets in response to accusations that he left Singapore after an arrest warrant was issued on Wednesday, Kwon remained mum regarding his location.
A warrant to arrest Kwon and five other people who are currently in Singapore was issued by a court in Seoul, South Korea.
The LUNC rise is being fueled in part by the excitement surrounding Terra Classic's new token-burning feature and staking service.
The simultaneous crashes of Terra's UST stablecoin and LUNA fuelled the market-wide fall in May, which investors are currently recuperating from. However, Do Kwon and his team's rehabilitation efforts have restarted LUNA following this upheaval. In addition, its counterpart Terra LUNA Classic, as well as LUNA, have soared in recent days.
Terra Classic [LUNC] is seemingly rising from the ashes after its collapse earlier in May 2022. One of the most impressive comeback stories of the year is being written about the token.
Bitfinex and Tether's attorneys also want the law firm to return or destroy all defendant-issued documents and confirm that they have not been disseminated.
DeFi was discussed at a number of seminars in Seoul, but the $40 billion failure of a significant Korean project was not one of the topics.
According to Alex Fowler and Patrick Murck of Transparent Systems, the issuers of stablecoins like Tether and USDC constitute a new rentier class that is sapping value from the DeFi system.