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Do Kwon Denies Asset Freeze
Those unfamiliar with the sorry tale of Do Kwon are indeed fortunate. The LUNA creator has been in hiding since he wiped $40 billion dollars off investment value following the collapse of Terra ecosystem and TerraUSD. Do Kwon has been ordered to surrender his passport by South Korean police this week and last month, Interpol issued a red notice against the entrepreneur.
Also this week, Korean media outlet News1 broke the story that prosecutors had frozen Do Kwon’s assets, a phenomenal $39.6 million of crypto assets linked to Terraform Labs. He responded on Wednesday, refuting the claims as “falsehood,” and went on to say “I don’t know whose funds they’ve frozen, but good for them, hope they use it for good.” Do Kwon’s whereabouts are unknown, but he continues to update his Twitter account from a clandestine location. He maintains that he is not on the run or in hiding.
Oryen Network
Do Kwon pushed his project beyond safe limits, risking and ultimately burning collateral belonging to millions of cryptocurrency investors. The scandal was a massive blow to the confidence held in digital finance, as Terra was well-regarded and considered a secure investment. Post-Terra, investors want unequivocal protocols that offer protection against implosion. Many investors will feel concerned that a government has claimed to have frozen cryptocurrency assets that reportedly include Bitcoin.
A brand new project named Oryen Network has just entered the market, which boasts top security with added features like the Risk-Free Value (RFV) wallet. Unlike traditional savings accounts, which traditionally offer low rates of return and are easily seized, investors may be actively seeking out projects like Oryen Network, which guarantees a sizable 90% APY in compound interest. ORY keeps finances decentralized and stable.
True USD (TUSD)
True USD is the first regulated stablecoin fully backed by the US dollar from platform TrustToken, whereby TUSD is exchanged 1:1 with the US dollar. TrustToken is partnered with registered fiduciaries and banks for holding funds securely backed by TrueUSD tokens. The team’s main aim is to create a genuine stablecoin that can be truly trusted and adopted by the crypto community. TUSD is far more secure than UST and will certainly fare better.
Conclusion
History is made everyday in the world of cryptocurrency as we pioneer a new era of digital finance: naturally there will be some tragedies as we navigate new territory. For investors looking for safe havens for their hard-earned cash, there are excellent protocols such as ORY and TUSD to take advantage of, as cryptocurrency remains far more lucrative and difficult to seize than traditional finance options.
Learn More About Oryen Network Here:
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
Telegram: https://t.me/OryenNetwork
Discord: https://discord.com/invite/jSvaXmb2cB
Twitter: https://twitter.com/oryennetwork
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